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REGISTERED NUMBER: 02046703 (England and Wales)















General Wine and Liquor Company Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






General Wine and Liquor Company Limited (Registered number: 02046703)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


General Wine and Liquor Company Limited

Company Information
for the year ended 31 May 2024







Directors: A J S Mcdonald
A D Snudden
S E Bangert
D J Moran
M D Howard





Registered office: Cooper Parry
New Derwent House
69-73 Theobals Road
London
WC1X 8TA





Registered number: 02046703 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

General Wine and Liquor Company Limited (Registered number: 02046703)

Balance Sheet
31 May 2024

2024 2023
Notes £ £ £ £
Fixed assets
Intangible assets 4 1 1
Tangible assets 5 120,704 141,871
120,705 141,872

Current assets
Stocks 1,387,250 1,453,500
Debtors 6 633,351 714,125
Cash at bank and in hand 11,277 10,970
2,031,878 2,178,595
Creditors
Amounts falling due within one year 7 1,174,919 1,379,437
Net current assets 856,959 799,158
Total assets less current liabilities 977,664 941,030

Creditors
Amounts falling due after more than one
year

8

(49,105

)

(47,670

)

Provisions for liabilities (14,013 ) (14,013 )
Net assets 914,546 879,347

Capital and reserves
Called up share capital 10 100 100
Retained earnings 914,446 879,247
Shareholders' funds 914,546 879,347

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

General Wine and Liquor Company Limited (Registered number: 02046703)

Balance Sheet - continued
31 May 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 February 2025 and were signed on its behalf by:





A D Snudden - Director


General Wine and Liquor Company Limited (Registered number: 02046703)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

General Wine and Liquor Company 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.

The financial statements are prepared in sterling , which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Turnover
Turnover represents amounts receivable for goods and services provided in the year and is stated net of VAT and trade discounts.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its estimated useful life up to a maximum of 10 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset. In the case of Goodwill, this is over 10 years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings leasehold-Over period of lease
Fixtures, fitting & equipment-Between 20%-33% on cost
Motor vehicles-25% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. Employees and directors

The average number of employees during the year was 22 (2023 - 22 ) .

General Wine and Liquor Company Limited (Registered number: 02046703)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


4. Intangible fixed assets
Goodwill
£
Cost
At 1 June 2023
and 31 May 2024 15,000
Amortisation
At 1 June 2023
and 31 May 2024 14,999
Net book value
At 31 May 2024 1
At 31 May 2023 1

5. Tangible fixed assets
Fixtures
Short and Motor
leasehold fittings vehicles Totals
£ £ £ £
Cost
At 1 June 2023 52,802 267,853 139,808 460,463
Additions - 12,517 30,925 43,442
Disposals - - (10,694 ) (10,694 )
At 31 May 2024 52,802 280,370 160,039 493,211
Depreciation
At 1 June 2023 50,312 193,780 74,500 318,592
Charge for year 159 35,994 28,269 64,422
Eliminated on disposal - - (10,507 ) (10,507 )
At 31 May 2024 50,471 229,774 92,262 372,507
Net book value
At 31 May 2024 2,331 50,596 67,777 120,704
At 31 May 2023 2,490 74,073 65,308 141,871

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 590,473 657,360
Other debtors 42,878 56,765
633,351 714,125

General Wine and Liquor Company Limited (Registered number: 02046703)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 257,815 362,899
Hire purchase contracts (see note 9) 27,458 21,388
Trade creditors 670,157 769,621
Taxation and social security 122,795 117,014
Other creditors 96,694 108,515
1,174,919 1,379,437

Included within creditors is a balance of £29,537 (2023: £29,537) due to the director A Snudden.

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Hire purchase contracts (see note 9) 49,105 47,670

9. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 27,458 21,388
Between one and five years 49,105 47,670
76,563 69,058

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100