REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
PREMIUM VINEYARD COMPANY UK LTD |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
FOR |
PREMIUM VINEYARD COMPANY UK LTD |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PREMIUM VINEYARD COMPANY UK LTD |
COMPANY INFORMATION |
for the year ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
19-20 Bourne Court |
Southend Road |
Woodford Green |
Essex |
IG8 8HD |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
ABRIDGED BALANCE SHEET |
30 November 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 6,137,570 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 November 2023 |
1. | STATUTORY INFORMATION |
Premium Vineyard Company UK Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Critical accounting judgements and key sources of estimation uncertainty |
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The items in the financial statements where these judgements and estimates have been made include: |
- the provision required for any bad or doubtful debts. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investments in subsidiaries and associates |
Investments in subsidiary and associate undertakings are recognised at cost. |
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 assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
Basic financial liabilities, including trade and other payables, bank loans, loans from fellow Group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 1 December 2022 |
Charge for year |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST OR VALUATION |
At 1 December 2022 |
and 30 November 2023 | 53,154 |
NET BOOK VALUE |
At 30 November 2023 | 53,154 |
At 30 November 2022 | 53,154 |
Cost or valuation at 30 November 2023 is represented by: |
Totals |
£ |
Cost | 53,154 |
Investments (neither listed nor unlisted) were as follows: |
2023 | 2022 |
as restated |
£ | £ |
Other investments | 127 | 127 |
6. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
PREMIUM VINEYARD COMPANY UK LTD (REGISTERED NUMBER: 09307058) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2023 |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022: |
2023 | 2022 |
as restated |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
8. | RELATED PARTY DISCLOSURES |
At the balance sheet date, the company owed £474 (2022 - £474) to Veritable Negociant GmBH, a company incorporated in Germany and connected by virtue of common directors and shareholders. |
9. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. |
10. | AUDITOR LIABILITY LIMITATION AGREEMENT |
The company has entered into a liability limitation agreement with Raffingers, the statutory auditor, in respect of the statutory audit for the year ended 30 November 2023. The proportionate liability agreement follows the standard terms in appendix B to the Financial Reporting Councils' June 2008 Guidance on Auditor Liability Agreements and as approved by the members on 12 September 2024. |
11. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary undertaking of Perrin & Fils SAS, a company incorporated and domiciled in France. |
12. | CAPITAL COMMITMENTS |
The company had no capital commitment at 30 November 2023 and 30 November 2022. |
13. | CONTINGENT LIABILITIES |
There were no contingent liabilities at either the beginning or the end of the financial year. |