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Registered number: 07168578
Halfwine Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
Badcock Business Solutions Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07168578
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 234
- 234
CURRENT ASSETS
Stocks 5 16,798 16,127
Debtors 6 837 144
Cash at bank and in hand 11,020 9,029
28,655 25,300
Creditors: Amounts Falling Due Within One Year 7 (77,531 ) (70,336 )
NET CURRENT ASSETS (LIABILITIES) (48,876 ) (45,036 )
TOTAL ASSETS LESS CURRENT LIABILITIES (48,876 ) (44,802 )
NET LIABILITIES (48,876 ) (44,802 )
CAPITAL AND RESERVES
Called up share capital 8 40,000 40,000
Share premium account 20,000 20,000
Profit and Loss Account (108,876 ) (104,802 )
SHAREHOLDERS' FUNDS (48,876) (44,802)
Page 1
Page 2
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Kevin Dilton-Hill
Director
05/03/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Halfwine Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07168578 . The registered office is 4 Prince William Close, Worthing, West Sussex, BN14 0AZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 January 2024 281
Disposals (281 )
As at 31 December 2024 -
Depreciation
As at 1 January 2024 47
Disposals (47 )
As at 31 December 2024 -
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 234
5. Stocks
2024 2023
£ £
Stock 16,798 16,127
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 813 114
Other debtors 24 30
837 144
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 19,542 17,667
Other creditors 56,990 52,389
Taxation and social security 999 280
77,531 70,336
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
30,000 Ordinary Shares of £ 1.00 each 30,000 30,000
10,000 Ordinary A shares of £ 1.00 each 10,000 10,000
40,000 40,000
Page 4