Acorah Software Products - Accounts Production 16.2.850 false true 31 January 2024 1 February 2023 false 1 February 2024 31 December 2024 31 December 2024 02369345 Mr James Handford Mr Jeremy Waud Mr Charles Waud iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02369345 2024-01-31 02369345 2024-12-31 02369345 2024-02-01 2024-12-31 02369345 frs-core:CurrentFinancialInstruments 2024-12-31 02369345 frs-core:FurnitureFittings 2024-12-31 02369345 frs-core:FurnitureFittings 2024-02-01 2024-12-31 02369345 frs-core:FurnitureFittings 2024-01-31 02369345 frs-core:NetGoodwill 2024-12-31 02369345 frs-core:NetGoodwill 2024-02-01 2024-12-31 02369345 frs-core:NetGoodwill 2024-01-31 02369345 frs-core:MotorVehicles 2024-12-31 02369345 frs-core:MotorVehicles 2024-02-01 2024-12-31 02369345 frs-core:MotorVehicles 2024-01-31 02369345 frs-core:CapitalRedemptionReserve 2024-12-31 02369345 frs-core:SharePremium 2024-12-31 02369345 frs-core:ShareCapital 2024-12-31 02369345 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02369345 frs-bus:PrivateLimitedCompanyLtd 2024-02-01 2024-12-31 02369345 frs-bus:FilletedAccounts 2024-02-01 2024-12-31 02369345 frs-bus:SmallEntities 2024-02-01 2024-12-31 02369345 frs-bus:AuditExempt-NoAccountantsReport 2024-02-01 2024-12-31 02369345 frs-bus:SmallCompaniesRegimeForAccounts 2024-02-01 2024-12-31 02369345 frs-bus:Director1 2024-02-01 2024-12-31 02369345 frs-bus:Director2 2024-02-01 2024-12-31 02369345 frs-bus:Director3 2024-02-01 2024-12-31 02369345 frs-countries:EnglandWales 2024-02-01 2024-12-31 02369345 2023-01-31 02369345 2024-01-31 02369345 2023-02-01 2024-01-31 02369345 frs-core:CurrentFinancialInstruments 2024-01-31 02369345 frs-core:CapitalRedemptionReserve 2024-01-31 02369345 frs-core:SharePremium 2024-01-31 02369345 frs-core:ShareCapital 2024-01-31 02369345 frs-core:RetainedEarningsAccumulatedLosses 2024-01-31
Registered number: 02369345
The Holland Park Wine Company Limited
Unaudited Financial Statements
For the Period 1 February 2024 to 31 December 2024
The Numbers Studio
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02369345
31 December 2024 31 January 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 3,525 1,152
3,525 1,152
CURRENT ASSETS
Stocks 6 1,498,799 1,550,256
Debtors 7 161,106 198,263
Cash at bank and in hand 312,581 750,972
1,972,486 2,499,491
Creditors: Amounts Falling Due Within One Year 8 (241,263 ) (234,576 )
NET CURRENT ASSETS (LIABILITIES) 1,731,223 2,264,915
TOTAL ASSETS LESS CURRENT LIABILITIES 1,734,748 2,266,067
PROVISIONS FOR LIABILITIES
Provisions For Charges - (289 )
Deferred Taxation (881 ) -
NET ASSETS 1,733,867 2,265,778
CAPITAL AND RESERVES
Called up share capital 9 69,945 69,945
Share premium account - 52,363
Capital redemption reserve 1,000 1,000
Profit and Loss Account 1,662,922 2,142,470
SHAREHOLDERS' FUNDS 1,733,867 2,265,778
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For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr James Handford
Director
Mr Jeremy Waud
Director
Mr Charles Waud
Director
22 April 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Holland Park Wine Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02369345 . The registered office is 105 Old Brompton Road, London, SW7 3LE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 25% Straight Line
Fixtures & Fittings 15% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 8 (2024: 8)
8 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2024 44,999
As at 31 December 2024 44,999
Amortisation
As at 1 February 2024 44,999
As at 31 December 2024 44,999
Net Book Value
As at 31 December 2024 -
As at 1 February 2024 -
5. Tangible Assets
Motor Vehicles Fixtures & Fittings Total
£ £ £
Cost
As at 1 February 2024 8,160 41,584 49,744
Additions - 3,019 3,019
Disposals - (69 ) (69 )
As at 31 December 2024 8,160 44,534 52,694
...CONTINUED
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Depreciation
As at 1 February 2024 8,160 40,432 48,592
Provided during the period - 577 577
As at 31 December 2024 8,160 41,009 49,169
Net Book Value
As at 31 December 2024 - 3,525 3,525
As at 1 February 2024 - 1,152 1,152
6. Stocks
31 December 2024 31 January 2024
£ £
Stock 1,498,799 1,550,256
7. Debtors
31 December 2024 31 January 2024
£ £
Due within one year
Trade debtors 137,409 184,355
Amounts owed by participating interests 23,697 -
Other debtors - 13,908
161,106 198,263
8. Creditors: Amounts Falling Due Within One Year
31 December 2024 31 January 2024
£ £
Trade creditors 159,189 98,757
Amounts owed to participating interests 3,019 -
Other creditors - 9,428
Taxation and social security 79,055 126,391
241,263 234,576
9. Share Capital
31 December 2024 31 January 2024
£ £
Allotted, Called up and fully paid 69,945 69,945
10. Reserves
During the year, the company paid £603,325 to its previous shareholders. Following this transaction, the entire share capital of the company was transferred to Waud Wines Ltd, which now owns 100% of the issued share capital. The payment was treated as a capital distribution and debited to retained earnings. The legal ownership of shares changed hands, but no shares were cancelled and no changes were made to the company’s issued share capital.
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