Company registration number 00666499 (England and Wales)
HENNINGS WINE MERCHANTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
HENNINGS WINE MERCHANTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 9
HENNINGS WINE MERCHANTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HENNINGS WINE MERCHANTS LIMITED FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hennings Wine Merchants Limited for the year ended 31 March 2025 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Hennings Wine Merchants Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Hennings Wine Merchants Limited and state those matters that we have agreed to state to the board of directors of Hennings Wine Merchants Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hennings Wine Merchants Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Hennings Wine Merchants Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Hennings Wine Merchants Limited. You consider that Hennings Wine Merchants Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Hennings Wine Merchants Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
10 June 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
HENNINGS WINE MERCHANTS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
75,084
73,837
Tangible assets
4
2,427,271
2,458,358
2,502,355
2,532,195
Current assets
Stocks
762,444
819,127
Debtors
5
245,314
213,511
Cash at bank and in hand
332,681
311,870
1,340,439
1,344,508
Creditors: amounts falling due within one year
6
(655,983)
(624,706)
Net current assets
684,456
719,802
Total assets less current liabilities
3,186,811
3,251,997
Creditors: amounts falling due after more than one year
7
(37,567)
(50,534)
Provisions for liabilities
(159,800)
(159,800)
Net assets
2,989,444
3,041,663
Capital and reserves
Called up share capital
8
10,000
10,000
Revaluation reserve
1,271,923
1,271,923
Profit and loss reserves
1,707,521
1,759,740
Total equity
2,989,444
3,041,663

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

HENNINGS WINE MERCHANTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 10 June 2025 and are signed on its behalf by:
Mr E C Hennings
Mr M E Hennings
Director
Director
Company registration number 00666499 (England and Wales)
HENNINGS WINE MERCHANTS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2023
10,000
-
0
1,667,160
1,677,160
Period ended 31 March 2024:
Profit
-
-
286,580
286,580
Other comprehensive income:
Revaluation of tangible fixed assets
-
1,408,223
-
1,408,223
Tax relating to other comprehensive income
-
(136,300)
-
0
(136,300)
Total comprehensive income
-
1,271,923
286,580
1,558,503
Dividends
-
-
(194,000)
(194,000)
Balance at 31 March 2024
10,000
1,271,923
1,759,740
3,041,663
Period ended 31 March 2025:
Profit and total comprehensive income
-
-
166,781
166,781
Dividends
-
-
(219,000)
(219,000)
Balance at 31 March 2025
10,000
1,271,923
1,707,521
2,989,444
HENNINGS WINE MERCHANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Company information

Hennings Wine Merchants Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Wine Cellars, Station Approach, Pulborough, West Sussex, RH20 1AQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment.

 

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

 

1.3
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods net of VAT and trade discounts.

1.4
Intangible fixed assets - goodwill
Acquired goodwill is written off over its estimated useful economic life.
1.5
Intangible fixed assets other than goodwill

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Operating system
20% on a straight line basis
1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and property
2% straight line per annum on building element only
Equipment and computer equipment
10% diminishing balance & 25% straight line per annum
Fixtures and fittings
10% diminishing balance per annum
Motor vehicles
25% diminishing balance per annum
HENNINGS WINE MERCHANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits
The company operates a defined contribution scheme for the benefit of a director. Contributions payable are charged to the profit and loss account in the year they are payable.
HENNINGS WINE MERCHANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at fixed rates which are periodically reviewed.  All differences are taken to the profit and loss account.
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 19 (2024 - 20).

3
Intangible fixed assets
Goodwill
Other
Total
£
£
£
Cost
At 1 April 2024
44,985
96,829
141,814
Additions
-
0
20,613
20,613
At 31 March 2025
44,985
117,442
162,427
Amortisation and impairment
At 1 April 2024
44,985
22,992
67,977
Amortisation charged for the year
-
0
19,366
19,366
At 31 March 2025
44,985
42,358
87,343
Carrying amount
At 31 March 2025
-
0
75,084
75,084
At 31 March 2024
-
0
73,837
73,837
HENNINGS WINE MERCHANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
4
Tangible fixed assets
Freehold land and property
Equipment and computer equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 April 2024
2,240,000
286,677
262,856
306,444
3,095,977
Additions
-
0
-
0
-
0
29,491
29,491
Disposals
-
0
-
0
-
0
(20,825)
(20,825)
At 31 March 2025
2,240,000
286,677
262,856
315,110
3,104,643
Depreciation and impairment
At 1 April 2024
-
0
256,652
214,152
166,815
637,619
Depreciation charged in the year
10,921
4,195
4,870
39,694
59,680
Eliminated in respect of disposals
-
0
-
0
-
0
(19,927)
(19,927)
At 31 March 2025
10,921
260,847
219,022
186,582
677,372
Carrying amount
At 31 March 2025
2,229,079
25,830
43,834
128,528
2,427,271
At 31 March 2024
2,240,000
30,025
48,704
139,629
2,458,358

The freehold properties with a carrying amount of £2,240,000 were revalued on 31 March 2024 by Vail Williams LLP, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and were based on recent market transactions for similar properties.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
211,154
182,228
Other debtors
34,160
31,283
245,314
213,511
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans
8,066
8,066
Trade creditors
394,243
363,174
Amounts owed to group undertakings
26,060
25,435
Taxation and social security
169,592
184,591
Other creditors
58,022
43,440
655,983
624,706
HENNINGS WINE MERCHANTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
6
Creditors: amounts falling due within one year
(Continued)
- 9 -

Included within other creditors is £4,907 (2024 - £4,952) relating to hire purchase contracts, which are secured over the underlying asset.

7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
9,830
17,896
Other creditors
27,737
32,638
37,567
50,534

Included within other creditors is £32,737 (2024 - £32,638) relating to hire purchase contracts, which are secured over the underlying asset.

 

The bank loan and overdraft above are secured against the property.

8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
55,000
70,000
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