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REGISTERED NUMBER: 08260103 (England and Wales)















Financial Statements For The Period 1 January 2023 to 31 May 2024

for

WATERMILL WINES LTD.

WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)






Contents of the Financial Statements
For The Period 1 January 2023 to 31 May 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Balance Sheet
31 May 2024

31/5/24 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 19,952 22,931
Investments 6 501 1
20,453 22,932

CURRENT ASSETS
Stocks 315,713 233,773
Debtors 7 2,062,764 1,515,872
Cash at bank and in hand 130,189 1,112
2,508,666 1,750,757
CREDITORS
Amounts falling due within one year 8 1,716,134 996,235
NET CURRENT ASSETS 792,532 754,522
TOTAL ASSETS LESS CURRENT
LIABILITIES

812,985

777,454

PROVISIONS FOR LIABILITIES 4,161 4,357
NET ASSETS 808,824 773,097

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 708,824 673,097
SHAREHOLDERS' FUNDS 808,824 773,097

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

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

WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





H Dungarwalla - Director


WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Notes to the Financial Statements
For The Period 1 January 2023 to 31 May 2024

1. STATUTORY INFORMATION

Watermill Wines Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08260103

Registered office: Warehouse B Offices
Testwood Park
Salisbury Road
Totton
Hampshire
SO40 2RW

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Notes to the Financial Statements - continued
For The Period 1 January 2023 to 31 May 2024

2. ACCOUNTING POLICIES - continued
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 period 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 16 (2022 - 14 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 May 2024 60,006 27,173 87,179
AMORTISATION
At 1 January 2023
and 31 May 2024 60,006 27,173 87,179
NET BOOK VALUE
At 31 May 2024 - - -
At 31 December 2022 - - -

WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Notes to the Financial Statements - continued
For The Period 1 January 2023 to 31 May 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 3,242 10,781 53,378 67,401
Additions - 2,170 6,859 9,029
At 31 May 2024 3,242 12,951 60,237 76,430
DEPRECIATION
At 1 January 2023 1,395 6,891 36,184 44,470
Charge for period 654 2,835 8,519 12,008
At 31 May 2024 2,049 9,726 44,703 56,478
NET BOOK VALUE
At 31 May 2024 1,193 3,225 15,534 19,952
At 31 December 2022 1,847 3,890 17,194 22,931

6. FIXED ASSET INVESTMENTS
Shares in Interest
group in
undertakings associate Totals
£    £    £   
COST
At 1 January 2023 1 - 1
Additions - 500 500
At 31 May 2024 1 500 501
NET BOOK VALUE
At 31 May 2024 1 500 501
At 31 December 2022 1 - 1

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/12/22
£    £   
Trade debtors 1,572,396 1,277,008
Other debtors 490,368 238,864
2,062,764 1,515,872

WATERMILL WINES LTD. (REGISTERED NUMBER: 08260103)

Notes to the Financial Statements - continued
For The Period 1 January 2023 to 31 May 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/12/22
£    £   
Bank loans and overdrafts 238,629 285,447
Trade creditors 1,011,109 256,051
Taxation and social security 176,354 195,754
Other creditors 290,042 258,983
1,716,134 996,235