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COMPANY REGISTRATION NUMBER: 13286140
Wine Tours of Kent Limited
Filleted Unaudited Financial Statements
31 March 2024
Wine Tours of Kent Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Wine Tours of Kent Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
14,353
21,032
Current assets
Debtors
6
5,946
5,255
Cash at bank and in hand
13,531
12,782
--------
--------
19,477
18,037
Creditors: amounts falling due within one year
7
47,816
21,496
--------
--------
Net current liabilities
28,339
3,459
--------
--------
Total assets less current liabilities
( 13,986)
17,573
Creditors: amounts falling due after more than one year
8
24,591
10,857
--------
--------
Net (liabilities)/assets
( 38,577)
6,716
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 38,578)
6,715
--------
-------
Shareholders (deficit)/funds
( 38,577)
6,716
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Wine Tours of Kent Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 13 March 2025 , and are signed on behalf of the board by:
A Ireland
Director
Company registration number: 13286140
Wine Tours of Kent Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 2 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 April 2023
33,139
1,306
34,445
Additions
420
420
--------
-------
--------
At 31 March 2024
33,139
1,726
34,865
--------
-------
--------
Depreciation
At 1 April 2023
12,912
501
13,413
Charge for the year
6,628
471
7,099
--------
-------
--------
At 31 March 2024
19,540
972
20,512
--------
-------
--------
Carrying amount
At 31 March 2024
13,599
754
14,353
--------
-------
--------
At 31 March 2023
20,227
805
21,032
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
1,080
1,745
Other debtors
4,866
3,510
-------
-------
5,946
5,255
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,016
4,645
Trade creditors
5,899
4,873
Corporation tax
982
Social security and other taxes
10,377
7,941
Other creditors
26,524
3,055
--------
--------
47,816
21,496
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,841
10,857
Other creditors
18,750
--------
--------
24,591
10,857
--------
--------
9. Director's advances, credits and guarantees
During the year, a director was advanced £9,514 and this was fully repaid. No interest was charged on this loan.
10. Related party transactions
At the year end the company owed the director £2,151 (2023: £34).