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GILBEY WINE AND FOOD COMPANY LIMITED(THE)

Registered Number
01176669
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2024

GILBEY WINE AND FOOD COMPANY LIMITED(THE)
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

GILBEY, Linda
GILBEY, William John

Registered Address

82-83 High Street
Eton
Windsor
SL4 6AF

Registered Number

01176669 (England and Wales)
GILBEY WINE AND FOOD COMPANY LIMITED(THE)
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets350,73962,099
50,73962,099
Current assets
Debtors309,743233,542
Cash at bank and on hand30,94834,356
340,691267,898
Creditors amounts falling due within one year4(303,712)(245,096)
Net current assets (liabilities)36,97922,802
Total assets less current liabilities87,71884,901
Provisions for liabilities5(9,798)(13,026)
Net assets77,92071,875
Capital and reserves
Called up share capital100100
Profit and loss account77,82071,775
Shareholders' funds77,92071,875
The financial statements were approved and authorised for issue by the Board of Directors on 27 September 2024, and are signed on its behalf by:
GILBEY, Linda
Director
Registered Company No. 01176669
GILBEY WINE AND FOOD COMPANY LIMITED(THE)
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Land and buildings5
Plant and machinery20
Fixtures and fittings20
Office Equipment25
Stocks and work in progress
Inventories is valued at the lower of cost and estimated selling price less costs to complete and sell. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete.
2.Average number of employees

20242023
Average number of employees during the year3045
3.Tangible fixed assets

Plant & machinery

Office Equipment

Total

£££
Cost or valuation
At 01 July 23482,10527,554509,659
Additions-1,2701,270
At 30 June 24482,10528,824510,929
Depreciation and impairment
At 01 July 23424,65822,902447,560
Charge for year11,4901,14012,630
At 30 June 24436,14824,042460,190
Net book value
At 30 June 2445,9574,78250,739
At 30 June 2357,4474,65262,099
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables91,00672,049
Bank borrowings and overdrafts116,76786,767
Taxation and social security46,97544,635
Other creditors46,71729,744
Accrued liabilities and deferred income2,24711,901
Total303,712245,096
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)9,79813,026
Total9,79813,026
6.Related party transactions
At the end of the year the Company was owed £257,652 (2023 - £139,031) by Gilbey's Restaurant Ltd, an associated company. These amounts are repayable upon demand and no interest was charged. At the end of the year the Company owed £46,717 (2023 - (£17,650)) to The Gilbey Group, a Partnership under common control of the Directors. These amounts are payable upon demand and no interest was charged. Loans advanced by the directors to the Company upon which no intertest is charged and is repayable upon demand totalled £116,767 (2023 - £86,767).