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
Intangible assets
986
1,139
Tangible assets
746,153
795,560
Inventories
769,748
567,945
Cash at bank and in hand
181,024
670,491
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
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
Hillcrest Wines Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 are included at cost less accumulated amortisation.
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.
Hillcrest Wines Limited
Notes to the Accounts
for the year ended 31 December 2024
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.
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
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
At 31 December 2024
138,251
894,101
30,257
9,594
1,072,203
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
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
Hillcrest Wines Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
44,260
12,704
Accrued income and prepayments
30,215
23,234
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Creditors: amounts falling due within one year
2024
2023
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
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
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
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
11
Average number of employees
During the year the average number of employees was 16 (2023: 14).
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.