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Company Registration No. 09784649 (England and Wales)
Hillcrest Wines Limited Unaudited financial statements for the year ended 31 December 2024
Hillcrest Wines Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
986 
1,139 
Tangible assets
746,153 
795,560 
747,139 
796,699 
Current assets
Inventories
769,748 
567,945 
Debtors
74,566 
35,938 
Cash at bank and in hand
181,024 
670,491 
1,025,338 
1,274,374 
Creditors: amounts falling due within one year
(134,460)
(113,799)
Net current assets
890,878 
1,160,575 
Total assets less current liabilities
1,638,017 
1,957,274 
Creditors: amounts falling due after more than one year
(469,319)
(493,055)
Net assets
1,168,698 
1,464,219 
Capital and reserves
Called up share capital
621 
621 
Share premium
2,116,309 
2,116,309 
Profit and loss account
(948,232)
(652,711)
Shareholders' funds
1,168,698 
1,464,219 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 March 2025 and were signed on its behalf by
Mr J Bache Director Company Registration No. 09784649
- 2 -
Hillcrest Wines Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Hillcrest Wines Limited is a private company, limited by shares, registered in England and Wales, registration number 09784649. The registered office is Black Chalk Winery, Fullerton Road, Cottonworth, Andover, Hampshire, SP11 7JX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Over the lease period
Plant & machinery
5% and 10% straight line
Fixtures & fittings
20% reducing balance
Computer equipment
25% straight line
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted. Deferred tax assets are recoginised when recovery is probable.
- 3 -
Hillcrest Wines Limited Notes to the Accounts for the year ended 31 December 2024
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2024
1,530 
At 31 December 2024
1,530 
Amortisation
At 1 January 2024
391 
Charge for the year
153 
At 31 December 2024
544 
Net book value
At 31 December 2024
986 
At 31 December 2023
1,139 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
136,710 
864,113 
30,257 
7,846 
1,038,926 
Additions
1,581 
29,988 
- 
1,748 
33,317 
Disposals
(40)
- 
- 
- 
(40)
At 31 December 2024
138,251 
894,101 
30,257 
9,594 
1,072,203 
Depreciation
At 1 January 2024
25,893 
200,989 
10,480 
6,004 
243,366 
Charge for the year
10,215 
67,520 
3,955 
994 
82,684 
At 31 December 2024
36,108 
268,509 
14,435 
6,998 
326,050 
Net book value
At 31 December 2024
102,143 
625,592 
15,822 
2,596 
746,153 
At 31 December 2023
110,817 
663,124 
19,777 
1,842 
795,560 
- 4 -
Hillcrest Wines Limited Notes to the Accounts for the year ended 31 December 2024
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
44,260 
12,704 
Accrued income and prepayments
30,215 
23,234 
Other debtors
91 
- 
74,566 
35,938 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
14,344 
10,578 
Obligations under finance leases and hire purchase contracts
2,211 
11,868 
Trade creditors
16,956 
10,198 
Taxes and social security
10,484 
11,532 
Other creditors
25,465 
6,623 
Loans from directors
65,000 
63,000 
134,460 
113,799 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Obligations under finance leases and hire purchase contracts
- 
2,211 
Other creditors
250,000 
250,000 
Loans from directors
132,369 
197,369 
Deferred income
86,950 
43,475 
469,319 
493,055 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
23,800 Ordinary A shares of £0.01 each
238 
238 
38,300 Ordinary B Shares of £0.01 each
383 
383 
621 
621 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
120,524 
90,000 
Later than one year and not later than five years
441,922 
360,000 
Later than five years
- 
60,000 
562,446 
510,000 
11
Average number of employees
During the year the average number of employees was 16 (2023: 14).
- 5 -
Hillcrest Wines Limited Notes to the Accounts for the year ended 31 December 2024
12
Reconciliations on adoption of FRS 102
Transition to FRS102 Section 1A has not resulted in any transitional adjustments.
- 6 -