IRIS Accounts Production v24.3.2.46 04005064 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh040050642023-05-31040050642024-05-31040050642023-06-012024-05-31040050642022-05-31040050642022-06-012023-05-31040050642023-05-3104005064ns15:EnglandWales2023-06-012024-05-3104005064ns14:PoundSterling2023-06-012024-05-3104005064ns10:Director12023-06-012024-05-3104005064ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3104005064ns10:SmallEntities2023-06-012024-05-3104005064ns10:AuditExemptWithAccountantsReport2023-06-012024-05-3104005064ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3104005064ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3104005064ns10:FullAccounts2023-06-012024-05-310400506412023-06-012024-05-3104005064ns10:OrdinaryShareClass12023-06-012024-05-3104005064ns10:Director22023-06-012024-05-3104005064ns10:Director32023-06-012024-05-3104005064ns10:CompanySecretary12023-06-012024-05-3104005064ns10:RegisteredOffice2023-06-012024-05-3104005064ns5:CurrentFinancialInstruments2024-05-3104005064ns5:CurrentFinancialInstruments2023-05-3104005064ns5:Non-currentFinancialInstruments2024-05-3104005064ns5:Non-currentFinancialInstruments2023-05-3104005064ns5:ShareCapital2024-05-3104005064ns5:ShareCapital2023-05-3104005064ns5:RevaluationReserve2024-05-3104005064ns5:RevaluationReserve2023-05-3104005064ns5:RetainedEarningsAccumulatedLosses2024-05-3104005064ns5:RetainedEarningsAccumulatedLosses2023-05-3104005064ns5:IntangibleAssetsOtherThanGoodwill2023-06-012024-05-3104005064ns5:PlantMachinery2023-06-012024-05-3104005064ns5:FurnitureFittings2023-06-012024-05-3104005064ns5:ComputerEquipment2023-06-012024-05-3104005064ns5:NetGoodwill2023-05-3104005064ns5:NetGoodwill2024-05-3104005064ns5:NetGoodwill2023-05-3104005064ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-3104005064ns5:PlantMachinery2023-05-3104005064ns5:FurnitureFittings2023-05-3104005064ns5:LandBuildingsns5:ShortLeaseholdAssets2023-06-012024-05-3104005064ns5:LandBuildingsns5:ShortLeaseholdAssets2024-05-3104005064ns5:PlantMachinery2024-05-3104005064ns5:FurnitureFittings2024-05-3104005064ns5:LandBuildingsns5:ShortLeaseholdAssets2023-05-3104005064ns5:PlantMachinery2023-05-3104005064ns5:FurnitureFittings2023-05-3104005064ns5:MotorVehicles2023-05-3104005064ns5:ComputerEquipment2023-05-3104005064ns5:MotorVehicles2023-06-012024-05-3104005064ns5:MotorVehicles2024-05-3104005064ns5:ComputerEquipment2024-05-3104005064ns5:MotorVehicles2023-05-3104005064ns5:ComputerEquipment2023-05-3104005064ns5:CostValuation2023-05-3104005064ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3104005064ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3104005064ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-05-3104005064ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-05-3104005064ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-05-3104005064ns5:DeferredTaxation2023-05-3104005064ns5:DeferredTaxation2023-06-012024-05-3104005064ns5:DeferredTaxation2024-05-3104005064ns10:OrdinaryShareClass12024-05-3104005064ns5:RetainedEarningsAccumulatedLosses2023-05-3104005064ns5:RevaluationReserve2023-05-3104005064ns5:RetainedEarningsAccumulatedLosses2023-06-012024-05-31
REGISTERED NUMBER: 04005064 (England and Wales)














Unaudited Financial Statements

For The Year Ended 31st May 2024

for

Wye Valley Country Store Ltd

Wye Valley Country Store Ltd (Registered number: 04005064)






Contents of the Financial Statements
For The Year Ended 31st May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

Wye Valley Country Store Ltd

Company Information
For The Year Ended 31st May 2024







DIRECTORS: A I Griffiths
Mrs B A Griffiths
J I Griffiths





SECRETARY: Mrs B A Griffiths





REGISTERED OFFICE: Unit 2
Wonastow Road Industrial Estate
Monmouth
Monmouthshire
NP25 5JA





REGISTERED NUMBER: 04005064 (England and Wales)





ACCOUNTANTS: Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

Wye Valley Country Store Ltd (Registered number: 04005064)

Balance Sheet
31st May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 364,021 341,359
Investments 6 1,200 1,200
365,221 342,559

CURRENT ASSETS
Stocks 7 681,011 621,459
Debtors 8 247,113 269,727
Cash at bank and in hand 266,809 218,696
1,194,933 1,109,882
CREDITORS
Amounts falling due within one year 9 971,423 783,769
NET CURRENT ASSETS 223,510 326,113
TOTAL ASSETS LESS CURRENT
LIABILITIES

588,731

668,672

CREDITORS
Amounts falling due after more than one
year

10

(150,210

)

(297,658

)

PROVISIONS FOR LIABILITIES 12 (61,568 ) (42,486 )
NET ASSETS 376,953 328,528

CAPITAL AND RESERVES
Called up share capital 13 3 3
Revaluation reserve 14 100,000 100,000
Retained earnings 14 276,950 228,525
SHAREHOLDERS' FUNDS 376,953 328,528

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

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

Wye Valley Country Store Ltd (Registered number: 04005064)

Balance Sheet - continued
31st 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 Income Statement has not been delivered.

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





A I Griffiths - Director


Wye Valley Country Store Ltd (Registered number: 04005064)

Notes to the Financial Statements
For The Year Ended 31st May 2024

1. STATUTORY INFORMATION

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Office Equipment - 20% 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.

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.

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.

Wye Valley Country Store Ltd (Registered number: 04005064)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2023 - 39 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st June 2023
and 31st May 2024 40,000
AMORTISATION
At 1st June 2023
and 31st May 2024 40,000
NET BOOK VALUE
At 31st May 2024 -
At 31st May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and
Property machinery fittings
£    £    £   
COST
At 1st June 2023 117,750 202,029 90,150
Additions - 869 -
Disposals - - -
At 31st May 2024 117,750 202,898 90,150
DEPRECIATION
At 1st June 2023 - 84,187 50,003
Charge for year - 23,612 8,029
Eliminated on disposal - - -
At 31st May 2024 - 107,799 58,032
NET BOOK VALUE
At 31st May 2024 117,750 95,099 32,118
At 31st May 2023 117,750 117,842 40,147

Wye Valley Country Store Ltd (Registered number: 04005064)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

5. TANGIBLE FIXED ASSETS - continued

Motor Office
vehicles Equipment Totals
£    £    £   
COST
At 1st June 2023 140,777 26,045 576,751
Additions 84,924 - 85,793
Disposals (27,495 ) - (27,495 )
At 31st May 2024 198,206 26,045 635,049
DEPRECIATION
At 1st June 2023 80,863 20,339 235,392
Charge for year 18,490 1,141 51,272
Eliminated on disposal (15,636 ) - (15,636 )
At 31st May 2024 83,717 21,480 271,028
NET BOOK VALUE
At 31st May 2024 114,489 4,565 364,021
At 31st May 2023 59,914 5,706 341,359

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1st June 2023
and 31st May 2024 1,200
NET BOOK VALUE
At 31st May 2024 1,200
At 31st May 2023 1,200

7. STOCKS
31.5.24 31.5.23
£    £   
Stocks 681,011 621,459

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 216,961 243,660
Prepayments 30,152 26,067
247,113 269,727

Wye Valley Country Store Ltd (Registered number: 04005064)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other loans (see note 11) 129,842 123,522
Trade creditors 723,106 562,064
Tax 58,300 56,427
Social security and other taxes 12,003 24,744
VAT 36,611 174
Directors' current accounts 5,561 11,338
Accrued expenses 6,000 5,500
971,423 783,769

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Other loans (see note 11) 95,821 225,663
Hire purchase contracts 54,389 71,995
150,210 297,658

11. LOANS

An analysis of the maturity of loans is given below:

31.5.24 31.5.23
£    £   
Amounts falling due within one year or on demand:
Other loans 129,842 123,522

Amounts falling due between one and two years:
Other loans - 1-2 years 95,821 129,842

Amounts falling due between two and five years:
Other loans - 2-5 years - 95,821

12. PROVISIONS FOR LIABILITIES
31.5.24 31.5.23
£    £   
Deferred tax 61,568 42,486

Deferred
tax
£   
Balance at 1st June 2023 42,486
Charge to Income Statement during year 19,082
Balance at 31st May 2024 61,568

Wye Valley Country Store Ltd (Registered number: 04005064)

Notes to the Financial Statements - continued
For The Year Ended 31st May 2024

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
3 Ordinary £1 3 3

14. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1st June 2023 228,525 100,000 328,525
Profit for the year 179,585 179,585
Dividends (131,160 ) (131,160 )
At 31st May 2024 276,950 100,000 376,950

15. RELATED PARTY DISCLOSURES

During the year, total dividends of £131,160 were paid to the directors .

16. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Wye Valley Country Store Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wye Valley Country Store Ltd for the year ended 31st May 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wye Valley Country Store Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wye Valley Country Store Ltd and state those matters that we have agreed to state to the Board of Directors of Wye Valley Country Store Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wye Valley Country Store Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wye Valley Country Store Ltd. You consider that Wye Valley Country Store Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wye Valley Country Store Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


Date: 18th February 2025