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REGISTERED NUMBER: 06471268 (England and Wales)













Audited Financial Statements

for the Year Ended 30 June 2024

for

The Wine Fusion Limited

The Wine Fusion Limited (Registered number: 06471268)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Wine Fusion Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: A A Cleary
V A Cleary
A G Porton
M A Satchwell



REGISTERED OFFICE: Greencroft Estates
Greencroft Parkway
Annfield Plain
Durham
County Durham
DH9 7XP



REGISTERED NUMBER: 06471268 (England and Wales)



SENIOR STATUTORY AUDITOR: Simon Hook FCCA



AUDITORS: Clive Owen LLP
Chartered Accountants and Statutory Auditors
Kepier House
Belmont Business Park
Durham
DH1 1TW

The Wine Fusion Limited (Registered number: 06471268)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 16,303 18,578
Tangible assets 5 4,525 5,426
20,828 24,004

CURRENT ASSETS
Stocks 6 2,323,557 3,036,882
Debtors 7 1,348,232 1,547,208
Cash at bank 3,464 19
3,675,253 4,584,109
CREDITORS
Amounts falling due within one year 8 1,821,599 3,244,055
NET CURRENT ASSETS 1,853,654 1,340,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,874,482

1,364,058

CAPITAL AND RESERVES
Called up share capital 12 2,000 2,000
Retained earnings 1,872,482 1,362,058
SHAREHOLDERS' FUNDS 1,874,482 1,364,058

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 27 March 2025 and were signed on its behalf by:





A G Porton - Director


The Wine Fusion Limited (Registered number: 06471268)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

The Wine Fusion Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

There were no material departures from this standard.

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

Income recognition
Turnover represents the sale of goods and is recognised when the significant risk and rewards of ownership of the goods have transferred to the buyer, in line with internation Commercial Terms agreed with the customer prior.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their 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.
Fixtures and fittings - 20% on cost

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

Financial instruments
Basic financial instruments are recognised at amortised cost. Derivative financial instruments, such as forward foreign currency contracts, are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate.

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.


The Wine Fusion Limited (Registered number: 06471268)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 45,500 17,000 62,500
AMORTISATION
At 1 July 2023 26,922 17,000 43,922
Amortisation for year 2,275 - 2,275
At 30 June 2024 29,197 17,000 46,197
NET BOOK VALUE
At 30 June 2024 16,303 - 16,303
At 30 June 2023 18,578 - 18,578

The Wine Fusion Limited (Registered number: 06471268)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 July 2023 19,527
Additions 1,332
At 30 June 2024 20,859
DEPRECIATION
At 1 July 2023 14,101
Charge for year 2,233
At 30 June 2024 16,334
NET BOOK VALUE
At 30 June 2024 4,525
At 30 June 2023 5,426

6. STOCKS
2024 2023
£    £   
Raw materials 116,066 76,315
Finished goods 2,207,491 2,960,567
2,323,557 3,036,882

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,093,695 1,424,140
Amounts owed by group undertakings - 7,068
Prepayments and accrued income 254,537 116,000
1,348,232 1,547,208

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) - 187,802
Trade creditors 786,671 617,745
Amounts owed to group undertakings 58,543 -
Amounts owed to participating interests 32,572 1,549,135
Taxation and social security 45,801 240,562
Accruals and deferred income 28,055 14,435
Invoice finance facility 869,957 634,376
1,821,599 3,244,055

The Wine Fusion Limited (Registered number: 06471268)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts - 187,802

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 4,000 4,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice Finance Facility 869,957 634,376

The invoice financing facility is secured by the book debts of the company, a first fixed charge over freehold and leasehold property, and a first floating charge over all assets and undertakings of the company.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary Share Capital 1 2,000 2,000

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Simon Hook FCCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

14. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions of wholly owned subsidiaries within the group.

15. ULTIMATE CONTROLLING PARTY

The company is a subsidiary undertaking of Lanchester Wine Cellars Limited, whose registered address is Greencroft Industrial Estate, Tower Road, Annfield Plain, County Durham, DH9 7XP. The results of the company are included in the consolidated financial statements of Lanchester Wine Cellars Limited. No other group financial statements include the results of the company.