Company No: 05844920 (England)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	9,318		24,253
		9,318		24,253
Current assets
Stocks	4	479,661		476,295
Debtors	5	142,377		94,393
Cash at bank and in hand		11,506		93,175
		633,544		663,863
Creditors: amounts falling due within one year	6	( 355,895)		( 348,758)
Net current assets		277,649		315,105
Total assets less current liabilities		286,967		339,358
Creditors: amounts falling due after more than one year	7	( 4,415)		( 14,810)
Provision for liabilities		( 2,224)		( 5,976)
Net assets		280,328		318,572
Capital and reserves
Called-up share capital		63		63
Capital redemption reserve		37		37
Profit and loss account		280,228		318,472
Total shareholder's funds		280,328		318,572

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; 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 Ellis Wharton Wines Ltd (registered number: 05844920) were approved and authorised for issue by the Board of Directors on 23 September 2025. They were signed on its behalf by:

Mr C E C Wharton 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

Ellis Wharton Wines Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England. The address of the Company's registered office is Unit 9c Lodge Way, Indian Queens, St. Columb, TR9 6FZ, 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.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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 basis over its expected useful life, as follows:

Leasehold improvements	4 years straight line
Plant and machinery	5 - 7 years straight line
Vehicles	4 years straight line
Office equipment	4 years straight line
Computer equipment	2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, 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.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	9		8

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 February 2024	5,490		25,782		53,532		17,504		2,218		104,526
Additions	1,237		0		0		1,172		990		3,399
At 31 January 2025	6,727		25,782		53,532		18,676		3,208		107,925
Accumulated depreciation
At 01 February 2024	5,257		20,684		41,125		12,748		459		80,273
Charge for the financial year	285		2,784		10,468		3,711		1,086		18,334
At 31 January 2025	5,542		23,468		51,593		16,459		1,545		98,607
Net book value
At 31 January 2025	1,185		2,314		1,939		2,217		1,663		9,318
At 31 January 2024	233		5,098		12,407		4,756		1,759		24,253

4. Stocks

	2025		2024
	£		£
Stocks	479,661		476,295

5. Debtors

	2025		2024
	£		£
Trade debtors	91,429		62,161
Corporation tax	7,818		0
Other debtors	43,130		32,232
	142,377		94,393

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	10,396		10,140
Trade creditors	83,854		35,054
Taxation and social security	13,225		41,265
Other creditors	248,420		262,299
	355,895		348,758

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

	2025		2024
	£		£
Bank loans	4,415		14,810

8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
within one year	44,700		35,383
between one and five years	175,075		0
	219,775		35,383

The above commitment is in respect of the premises from which the company operates.