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REGISTERED NUMBER: 06689788 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024

FOR

G R WINES LIMITED
TRADING AS
TIPSY FOX DRINKS CO.

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


G R WINES LIMITED
TRADING AS TIPSY FOX DRINKS CO.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: Gregor James Reid





REGISTERED OFFICE: Lawrence House
James Nicolson Link
Clifton Moor
York
North Yorkshire
YO30 4WG





REGISTERED NUMBER: 06689788 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
Lawrence House
James Nicolson Link
Clifton Moor
York
North Yorkshire
YO30 4WG

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,270 4,498
7,270 4,498

CURRENT ASSETS
Stocks 225,909 243,073
Debtors 6 33,465 7,396
Cash at bank and in hand 129,612 170,905
388,986 421,374
CREDITORS
Amounts falling due within one year 7 75,241 128,712
NET CURRENT ASSETS 313,745 292,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

321,015

297,160

PROVISIONS FOR LIABILITIES 1,818 1,125
NET ASSETS 319,197 296,035

CAPITAL AND RESERVES
Called up share capital 1 1
Profit and loss account 319,196 296,034
319,197 296,035

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

BALANCE SHEET - continued
31 AUGUST 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





Gregor James Reid - Director


G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

G R Wines 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.

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

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.

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 - 25% on reducing balance

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 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.

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.

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

LEASING COMMITMENTS
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the leases. The benefits of lease incentives are recognised in the profit and loss account over the lease period on a straight line basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 12,126
AMORTISATION
At 1 September 2023
and 31 August 2024 12,126
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 September 2023 51,083
Additions 5,195
At 31 August 2024 56,278
DEPRECIATION
At 1 September 2023 46,585
Charge for year 2,423
At 31 August 2024 49,008
NET BOOK VALUE
At 31 August 2024 7,270
At 31 August 2023 4,498

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,749 -
Directors' current accounts 25,978 -
Prepayments 2,738 7,396
33,465 7,396

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 52,378 41,357
Tax 16,074 20,604
Social security and other taxes - 617
VAT 3,430 2,419
Other creditors 726 1,319
Directors' current accounts - 60,186
Accrued expenses 2,633 2,210
75,241 128,712

8. PENSION COMMITMENTS

The company operates a defined contribution scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund which amounted to £1,728 (2023: £1,323). Contributions totalling £191 (2023: £115) were payable to the fund at the year ended and are included in creditors.

G R WINES LIMITED (REGISTERED NUMBER: 06689788)
TRADING AS TIPSY FOX DRINKS CO.

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

9. OTHER FINANCIAL COMMITMENTS

The company had capital and other commitments contracted but not provided for totalling £182,500 (2023: £221,614).

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the company made advances to the Directors totalling £123,664 (2023: £76,523). These were repayable on demand. The company received repayments totalling £37,500 (2023: £37,500).