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REGISTERED NUMBER: 12007452 (England and Wales)















Organic Grape Spirit Ltd

Unaudited Financial Statements for the Year Ended 31 May 2024






Organic Grape Spirit Ltd (Registered number: 12007452)






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


Organic Grape Spirit Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: F Gulino Camarero
O Morata Rocha
L Wang





REGISTERED OFFICE: 31-37 Arrowhead Road
Waterbrook Park
Ashford
Kent
TN24 0FL





REGISTERED NUMBER: 12007452 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG

Organic Grape Spirit Ltd (Registered number: 12007452)

Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 65,427 68,986
Tangible assets 5 5,167,693 5,277,764
Investment property 6 2,186,394 2,186,394
7,419,514 7,533,144

CURRENT ASSETS
Inventories 73,378 -
Debtors 7 372,310 452,918
Cash at bank 185,178 314,771
630,866 767,689
CREDITORS
Amounts falling due within one year 8 106,068 124,748
NET CURRENT ASSETS 524,798 642,941
TOTAL ASSETS LESS CURRENT LIABILITIES 7,944,312 8,176,085

CREDITORS
Amounts falling due after more than one
year

9

10,194,243

10,194,243
NET LIABILITIES (2,249,931 ) (2,018,158 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (2,249,932 ) (2,018,159 )
(2,249,931 ) (2,018,158 )

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.

Organic Grape Spirit Ltd (Registered number: 12007452)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:




O Morata Rocha - Director



F Gulino Camarero - Director


Organic Grape Spirit Ltd (Registered number: 12007452)

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

1. STATUTORY INFORMATION

Organic Grape 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

At the year end the company had net liabilities of £2,249,932. The company is dependent on the financial support of the director's family i.e Nueva IQT S.L, controlled by Federico's father who have provided a loan of £10,194.243 and continued to provide the support since the beginning. The director has also confirmed that they will not withdraw the sums due to them until there are sufficient funds to do so.
On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.

Income recognition
Income represents the fair value of consideration received or receivable derived from the provision of goods and services to customers during the year (excluding value added tax) and is recognised when the company becomes entitled to it, usually on the rendering of an invoice.

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.

Intellectual Property Costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 20% on reducing balance
Office equipment - 20% on cost

Investment property
Investment property is included at fair value. Gains are recognised in the income statement and shown in a fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell.
In respect of work in progress and finished goods, cost includes an appropriate proportion of attributable overheads according to the stage of manufacture/completion.

Organic Grape Spirit Ltd (Registered number: 12007452)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.

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 statement of financial position date.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023 86,232
Additions 17,110
At 31 May 2024 103,342
AMORTISATION
At 1 June 2023 17,246
Charge for year 20,669
At 31 May 2024 37,915
NET BOOK VALUE
At 31 May 2024 65,427
At 31 May 2023 68,986

Organic Grape Spirit Ltd (Registered number: 12007452)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 4,325,435 1,399,837 5,725,272
Additions - 277,093 277,093
Disposals - (27,090 ) (27,090 )
At 31 May 2024 4,325,435 1,649,840 5,975,275
DEPRECIATION
At 1 June 2023 60,650 386,858 447,508
Charge for year 46,308 315,631 361,939
Eliminated on disposal - (1,865 ) (1,865 )
At 31 May 2024 106,958 700,624 807,582
NET BOOK VALUE
At 31 May 2024 4,218,477 949,216 5,167,693
At 31 May 2023 4,264,785 1,012,979 5,277,764

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,186,394
NET BOOK VALUE
At 31 May 2024 2,186,394
At 31 May 2023 2,186,394

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 310,180 3,218
Other debtors 62,130 449,700
372,310 452,918

Organic Grape Spirit Ltd (Registered number: 12007452)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 864 -
Trade creditors - 27,976
Taxation and social security 7,039 2,287
Other creditors 98,165 94,485
106,068 124,748

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 10,194,243 10,194,243

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 10,194,243 10,194,243

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 864 -

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 10,194,243 10,194,243

In other loans, is £10,194,243 due to Nueva IQT S.L, which is controlled by Federico's father.