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REGISTERED NUMBER: 04771871 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Corking Wines Limited

Corking Wines Limited (Registered number: 04771871)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4


Corking Wines Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: Mr D W Beswick
Miss H Y Holmes



SECRETARY: Miss H Y Holmes



REGISTERED OFFICE: 3 Harrisons Close
Stamford Bridge
York
YO41 1PP



REGISTERED NUMBER: 04771871 (England and Wales)



ACCOUNTANTS: Parker Hartley & Co
Incorporated Financial Accountants
2 Waverley Street
The Groves
York
YO31 7QZ



BANKERS: National Westminster Bank Plc
1 Market Street
York
YO1 8SR

Corking Wines Limited (Registered number: 04771871)

Balance Sheet
31 July 2024

31/7/24 31/7/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 764 899

CURRENT ASSETS
Stocks 5 1,596 5,724
Debtors 6 91 8,504
Cash at bank and in hand 8,890 615
10,577 14,843
CREDITORS
Amounts falling due within one year 7 40,142 17,960
NET CURRENT LIABILITIES (29,565 ) (3,117 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(28,801

)

(2,218

)

CREDITORS
Amounts falling due after more than one
year

8

27,243

31,294
NET LIABILITIES (56,044 ) (33,512 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (56,144 ) (33,612 )
SHAREHOLDERS' FUNDS (56,044 ) (33,512 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The persons signing have sought and obtained consent from all the Board of Directors and authorised for issue on 4 December 2024 and were signed on its behalf by:




Mr D W Beswick - Director



Miss H Y Holmes - Director


Corking Wines Limited (Registered number: 04771871)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Corking Wines Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of services and goods, excluding value added taxation.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Office equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments are initially recorded at cost and thereafter at fair value with charges being recognised in the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Office
equipment
£   
COST
At 1 August 2023
and 31 July 2024 1,245
DEPRECIATION
At 1 August 2023 346
Eliminated on disposal 135
At 31 July 2024 481
NET BOOK VALUE
At 31 July 2024 764
At 31 July 2023 899

5. STOCKS
31/7/24 31/7/23
£    £   
Stocks 1,596 5,724

Corking Wines Limited (Registered number: 04771871)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Other debtors 91 -
Directors' loan accounts - 8,504
91 8,504

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans and overdrafts 5,895 6,467
Trade creditors 8,683 9,965
Corporation Tax (32 ) (32 )
Directors' loan accounts 24,721 -
Accrued expenses 875 1,560
40,142 17,960

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/7/24 31/7/23
£    £   
Bank loans - 1-2 years 27,243 31,294

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

31/7/24 31/7/23
£    £   
Mr D W Beswick and Miss H Y Holmes
Balance outstanding at start of year (8,504 ) (39,525 )
Amounts advanced 33,225 35,710
Amounts repaid - (4,689 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,721 (8,504 )

The directors have given personal guarantees to the bank of £35,000 (2023 £35,000).

The bank also has assigned to it, as security for borrowings, policies of life assurance over the directors.

10. ULTIMATE CONTROLLING PARTY

The Company is under the control of Mr DW Beswick and Miss HY Holmes who own 100% of the issued share capital.