CHINA WINE & SPIRIT (UK) CO. LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
China Wine & Spirit (UK) Co. Ltd is a private company limited by shares and incorporated in England and Wales. The address of its registered office is 124 Finchley Road, London, England, NW3 5JS.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The company meets its day to day working capital requirements through the funding from its parent company.
The company shows net current liabilities at the reporting date of £146,164. The company has received formal confirmation from its parent, Beijing Zhongniang International Wine Co. Ltd that the company will receive the financial support it requires to enable it to meet its liabilities as they fall due. Based on this assurance, the director consider it appropriate to prepare the financial statement on a going concern basis.
All revenue generated from wholesale of wine, beer, spirits and other alcoholic beverages. It is recognised at the point of shipment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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