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REGISTERED NUMBER: 06638763 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

RDM WINES LIMITED

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 703,941 709,090
Investments 5 25,050 25,050
728,991 734,140

CURRENT ASSETS
Stocks 6 1,602,257 1,862,208
Debtors 7 1,215,042 1,114,090
Cash at bank 1,086,970 929,548
3,904,269 3,905,846
CREDITORS
Amounts falling due within one year 8 2,397,770 2,216,198
NET CURRENT ASSETS 1,506,499 1,689,648
TOTAL ASSETS LESS CURRENT LIABILITIES 2,235,490 2,423,788

CREDITORS
Amounts falling due after more than one
year

9

(164,223

)

(172,312

)

PROVISIONS FOR LIABILITIES (113,027 ) (136,090 )
NET ASSETS 1,958,240 2,115,386

CAPITAL AND RESERVES
Called up share capital 12 100,000 100,000
Retained earnings 1,858,240 2,015,386
SHAREHOLDERS' FUNDS 1,958,240 2,115,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

Balance Sheet - continued
31 October 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 January 2025 and were signed on its behalf by:





Mr N O'Sullivan - Director


RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


1. STATUTORY INFORMATION

RDM Wines Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 06638763

Registered office: 242 Penarth Road
Cardiff
CF11 8TU

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.

Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances
Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the
respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary
items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - 2% on reducing balance
Other property, plant and equipment - 10% - 25% on reducing balance
Motor vehicles - 25% on reducing balance


RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary
course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade
debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is
determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


2. ACCOUNTING POLICIES - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost
using the effective interest method.

Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


2. ACCOUNTING POLICIES - continued

Financial Instruments
Classification
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual
provisions of the instrument.

Debt instruments are subsequently measured at amortised cost.

Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Other
Leasehold property,
property plant and Motor
improvements equipment vehicles Totals
£    £    £    £   
COST
At 1 November 2023 269,876 655,470 440,707 1,366,053
Additions - 37,874 104,841 142,715
Disposals - - (34,849 ) (34,849 )
At 31 October 2024 269,876 693,344 510,699 1,473,919
DEPRECIATION
At 1 November 2023 35,647 421,423 199,893 656,963
Charge for year 4,685 58,878 77,301 140,864
Eliminated on disposal - - (27,849 ) (27,849 )
At 31 October 2024 40,332 480,301 249,345 769,978
NET BOOK VALUE
At 31 October 2024 229,544 213,043 261,354 703,941
At 31 October 2023 234,229 234,047 240,814 709,090

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


4. TANGIBLE FIXED ASSETS - continued

Included within the net book value of land and buildings above is £229,544 (2023: £234,227) in respect of short leasehold land and buildings.

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 50 25,000 25,050
NET BOOK VALUE
At 31 October 2024 50 25,000 25,050
At 31 October 2023 50 25,000 25,050


6. STOCKS
2024 2023
£    £   
Stocks 1,602,257 1,862,208

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,020,717 967,815
Other debtors 121,185 108,894
Prepayments and accrued income 73,140 37,381
1,215,042 1,114,090

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 10) 37,522 40,272
Hire purchase contracts (see note 11) 53,395 23,289
Trade creditors 1,310,280 1,102,776
Tax (6,536 ) -
Social security and other taxes 381,896 497,522
Other creditors 607,463 530,305
Accruals and deferred income 13,750 22,034
2,397,770 2,216,198

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

The bank loans and overdrafts are secured by fixed and floating charge over the undertaking and all property and assets of the company.

The hire purchase contracts are secured against the assets to which they relate.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 10) - 38,976
Hire purchase contracts (see note 11) 164,223 133,336
164,223 172,312

The hire purchase contracts are secured against the assets to which they relate.

10. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 37,522 40,272

Amounts falling due between two and five years:
Bank loans - 2-5 years - 38,976

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 53,395 23,289
Between one and five years 164,223 133,336
217,618 156,625

RDM WINES LIMITED (REGISTERED NUMBER: 06638763)

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


11. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 6,367 9,554
Between one and five years 7,428 13,794
13,795 23,348

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
64,000 Ordinary A £1 64,000 64,000
20,000 Ordinary B £1 20,000 20,000
8,000 Ordinary C £1 8,000 8,000
8,000 Ordinary D £1 8,000 8,000
100,000 100,000