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REGISTERED NUMBER: 10769532 (England and Wales)


Financial Statements for the Year Ended 31 May 2024

for

Quality Wine & Spirit Ltd

Quality Wine & Spirit Ltd (Registered number: 10769532)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Quality Wine & Spirit Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr Baljinder Singh





REGISTERED OFFICE: Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD





REGISTERED NUMBER: 10769532 (England and Wales)





ACCOUNTANTS: Sterling Accounting Services Limited
Bridge House
9-13 Holbrook Lane
Coventry
CV6 4AD

Quality Wine & Spirit Ltd (Registered number: 10769532)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 419 559

CURRENT ASSETS
Inventories 38,855 31,985
Debtors 5 9,405 21,642
Cash in hand 1,867 3,527
50,127 57,154
CREDITORS
Amounts falling due within one year 6 23,971 10,560
NET CURRENT ASSETS 26,156 46,594
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,575

47,153

CREDITORS
Amounts falling due after more than one
year

7

23,839

44,942
NET ASSETS 2,736 2,211

CAPITAL AND RESERVES
Called up share capital 8 300 300
Retained earnings 2,436 1,911
SHAREHOLDERS' FUNDS 2,736 2,211

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 director acknowledges his 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.

Quality Wine & Spirit Ltd (Registered number: 10769532)

Statement of Financial Position - 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 February 2025 and were signed by:





Mr Amarjit Singh Bedi - Director


Quality Wine & Spirit Ltd (Registered number: 10769532)

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

1. STATUTORY INFORMATION

Quality Wine & Spirit Ltd 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
Revenue 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - NIL ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 2,485
DEPRECIATION
At 1 June 2023 1,926
Charge for year 140
At 31 May 2024 2,066
NET BOOK VALUE
At 31 May 2024 419
At 31 May 2023 559

Quality Wine & Spirit Ltd (Registered number: 10769532)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 9,405 21,642

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 1,878 3,659
Trade creditors 14,205 1,405
Taxation and social security 3,928 3,004
Other creditors 3,960 2,492
23,971 10,560

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 23,839 44,942

8. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
300 Share capital 1 £1 100 300