Company No: 07560082 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

S L Evans

REGISTERED OFFICE	The Old Exchange
	Station Road
	Alresford
	SO24 9JG
	United Kingdom

COMPANY NUMBER

07560082 (England and Wales)

ACCOUNTANT	Shaw Gibbs Limited
	Wey Court West
	Union Road
	Farnham
	Surrey
	GU9 7PT

	Note	2024		2023
		£		£
Fixed assets
Intangible assets	3	0		3,000
Tangible assets	4	13,669		17,887
		13,669		20,887
Current assets
Stocks	5	142,935		138,441
Debtors	6	34,003		34,103
Cash at bank and in hand	7	182,149		51,731
		359,087		224,275
Creditors: amounts falling due within one year	8	( 147,019)		( 183,246)
Net current assets		212,068		41,029
Total assets less current liabilities		225,737		61,916
Creditors: amounts falling due after more than one year	9	( 7,644)		( 22,112)
Provision for liabilities	10	( 3,231)		( 2,934)
Net assets		214,862		36,870
Capital and reserves
Called-up share capital		2		2
Profit and loss account		214,860		36,868
Total shareholders' funds		214,862		36,870

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of The Naked Grape Wine Limited (registered number: 07560082) were approved and authorised for issue by the Director on 22 September 2025. They were signed on its behalf by:

S L Evans Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Naked Grape Wine Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Old Exchange, Station Road, Alresford, SO24 9JG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

8 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Vehicles	25 % reducing balance
Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Borrowing costs

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	5		5

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 January 2024	40,000		40,000
At 31 December 2024	40,000		40,000
Accumulated amortisation
At 01 January 2024	37,000		37,000
Charge for the financial year	3,000		3,000
At 31 December 2024	40,000		40,000
Net book value
At 31 December 2024	0		0
At 31 December 2023	3,000		3,000

4. Tangible assets

	Vehicles		Fixtures and fittings		Office equipment		Total
	£		£		£		£
Cost
At 01 January 2024	17,352		30,278		6,544		54,174
Additions	0		235		83		318
At 31 December 2024	17,352		30,513		6,627		54,492
Accumulated depreciation
At 01 January 2024	10,032		21,844		4,411		36,287
Charge for the financial year	1,830		2,156		550		4,536
At 31 December 2024	11,862		24,000		4,961		40,823
Net book value
At 31 December 2024	5,490		6,513		1,666		13,669
At 31 December 2023	7,320		8,434		2,133		17,887
Leased assets included above:
Net book value
At 31 December 2024	5,490		0		0		5,490
At 31 December 2023	7,320		0		0		7,320

5. Stocks

	2024		2023
	£		£
Stocks	142,935		138,441

6. Debtors

	2024		2023
	£		£
Trade debtors	23,840		23,867
Prepayments	2,872		1,270
Other debtors	7,291		8,966
	34,003		34,103

7. Cash and cash equivalents

	2024		2023
	£		£
Cash at bank and in hand	182,149		51,731

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	10,361		10,106
Trade creditors	47,230		47,660
Amounts owed to director	4,815		97,688
Accruals	1,750		2,500
Taxation and social security	77,998		21,097
Obligations under finance leases and hire purchase contracts	4,124		3,687
Other creditors	741		508
	147,019		183,246

9. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Bank loans	6,162		16,507
Obligations under finance leases and hire purchase contracts	1,482		5,605
	7,644		22,112

10. Deferred tax

	2024		2023
	£		£
At the beginning of financial year	( 2,934)		( 2,870)
Charged to the Statement of Income and Retained Earnings	( 297)		( 64)
At the end of financial year	( 3,231)		( 2,934)

The deferred taxation balance is made up as follows:

	2024		2023
	£		£
Accelerated capital allowances	( 3,231)		( 2,934)

11. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The Pension cost charge represents contributions payable by the Company to he fund and amounted to £2,385 (2023 - £2,087)There were £741 (2023 - £509) payable at the year end.