17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 215,975 12,381 228,356 206,561 10,913 217,474 10,882 9,414 xbrli:pure xbrli:shares iso4217:GBP NI006351 2023-05-01 2024-04-30 NI006351 2024-04-30 NI006351 2023-04-30 NI006351 2022-05-01 2023-04-30 NI006351 2023-04-30 NI006351 2022-04-30 NI006351 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 NI006351 core:FurnitureFittings 2023-05-01 2024-04-30 NI006351 core:MotorVehicles 2023-05-01 2024-04-30 NI006351 bus:Director2 2023-05-01 2024-04-30 NI006351 bus:Director1 2023-05-01 2024-04-30 NI006351 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI006351 core:FurnitureFittings 2023-04-30 NI006351 core:MotorVehicles 2023-04-30 NI006351 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 NI006351 core:FurnitureFittings 2024-04-30 NI006351 core:MotorVehicles 2024-04-30 NI006351 core:WithinOneYear 2024-04-30 NI006351 core:WithinOneYear 2023-04-30 NI006351 core:ShareCapital 2024-04-30 NI006351 core:ShareCapital 2023-04-30 NI006351 core:RevaluationReserve 2024-04-30 NI006351 core:RevaluationReserve 2023-04-30 NI006351 core:RetainedEarningsAccumulatedLosses 2024-04-30 NI006351 core:RetainedEarningsAccumulatedLosses 2023-04-30 NI006351 core:CostValuation core:Non-currentFinancialInstruments 2023-04-30 NI006351 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2024-04-30 NI006351 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 NI006351 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-04-30 NI006351 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-04-30 NI006351 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-04-30 NI006351 core:Non-currentFinancialInstruments 2024-04-30 NI006351 core:Non-currentFinancialInstruments 2023-04-30 NI006351 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 NI006351 core:FurnitureFittings 2023-04-30 NI006351 core:MotorVehicles 2023-04-30 NI006351 bus:Director1 2023-04-30 NI006351 bus:Director1 2024-04-30 NI006351 bus:Director2 2023-04-30 NI006351 bus:Director1 2022-04-30 NI006351 bus:Director1 2023-04-30 NI006351 bus:Director2 2022-04-30 NI006351 bus:Director2 2023-04-30 NI006351 bus:Director1 2022-05-01 2023-04-30 NI006351 bus:SmallEntities 2023-05-01 2024-04-30 NI006351 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 NI006351 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 NI006351 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 NI006351 bus:FullAccounts 2023-05-01 2024-04-30 NI006351 core:ComputerEquipment 2023-05-01 2024-04-30 NI006351 core:ComputerEquipment 2023-04-30 NI006351 core:ComputerEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: NI006351
Duncairn Wines Limited
Filleted Unaudited Financial Statements
30 April 2024
Duncairn Wines Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
330,626
270,793
Investments
6
10,882
9,414
---------
---------
341,508
280,207
Current assets
Stocks
719,378
627,639
Debtors
7
436,376
415,479
Cash at bank and in hand
312,985
297,599
------------
------------
1,468,739
1,340,717
Creditors: amounts falling due within one year
8
822,679
728,019
------------
------------
Net current assets
646,060
612,698
---------
---------
Total assets less current liabilities
987,568
892,905
---------
---------
Net assets
987,568
892,905
---------
---------
Capital and reserves
Called up share capital
3,000
3,000
Revaluation reserve
79,850
79,850
Profit and loss account
904,718
810,055
---------
---------
Shareholders funds
987,568
892,905
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Duncairn Wines Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 26 November 2024 , and are signed on behalf of the board by:
Mr P McAlindon
Director
Company registration number: NI006351
Duncairn Wines Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 5-7 Corporation Square, Belfast, BT1 3AS, Northern Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
2% straight line
Fixtures and fittings
-
12% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 17 ).
5. Tangible assets
Freehold property
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 May 2023
309,868
159,245
92,378
194,478
755,969
Additions
34,090
24,263
36,370
3,352
98,075
---------
---------
---------
---------
---------
At 30 April 2024
343,958
183,508
128,748
197,830
854,044
---------
---------
---------
---------
---------
Depreciation
At 1 May 2023
90,045
147,717
58,386
189,028
485,176
Charge for the year
6,879
5,665
22,719
2,979
38,242
---------
---------
---------
---------
---------
At 30 April 2024
96,924
153,382
81,105
192,007
523,418
---------
---------
---------
---------
---------
Carrying amount
At 30 April 2024
247,034
30,126
47,643
5,823
330,626
---------
---------
---------
---------
---------
At 30 April 2023
219,823
11,528
33,992
5,450
270,793
---------
---------
---------
---------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 May 2023
215,975
Additions
12,381
---------
At 30 April 2024
228,356
---------
Impairment
At 1 May 2023
206,561
Impairment losses
10,913
---------
At 30 April 2024
217,474
---------
Carrying amount
At 30 April 2024
10,882
---------
At 30 April 2023
9,414
---------
7. Debtors
2024
2023
£
£
Trade debtors
405,649
393,399
Other debtors
30,727
22,080
---------
---------
436,376
415,479
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
307,657
289,318
Corporation tax
24,197
35,477
Social security and other taxes
239,019
210,523
Other creditors
251,806
192,701
---------
---------
822,679
728,019
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr N McAlindon
8,994
( 999)
7,995
Mr P McAlindon
( 4)
4
-------
----
-------
8,990
( 995)
7,995
-------
----
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr N McAlindon
19,994
( 11,000)
8,994
Mr P McAlindon
( 4)
( 4)
--------
--------
-------
19,990
( 11,000)
8,990
--------
--------
-------