Southwick Court Fine Wines (2012) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 08234049 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

SOUTHWICK COURT FINE WINES (2012) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Accountants' Report

6

DIRECTOR:

G D Rhys

REGISTERED OFFICE:

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

REGISTERED NUMBER:

08234049 (England and Wales)

ACCOUNTANTS:

Xeinadin Swiss Cottage Limited

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

FIXED ASSETS

Tangible assets

4

165,970

169,139

CURRENT ASSETS

Stocks

374,817

384,678

Debtors

5

262,906

440,059

Cash at bank

72,956

111,447

710,679

936,184

CREDITORS

Amounts falling due within one year

6

856,004

1,105,183

NET CURRENT LIABILITIES

(145,325

)

(168,999

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

20,645

140

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

20,545

40

SHAREHOLDERS' FUNDS

20,645

140

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

G D Rhys - Director

1.	STATUTORY INFORMATION

Southwick Court Fine Wines (2012) Ltd 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, net of discounts, rebates, value added tax and other sales tax of invoiced amount.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

20% Straight line

Computer equipment

-

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.

Foreign currencies

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 of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

Financial instruments

(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where a transaction is measured at the present vale of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future receipts discounted a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Long

to

and

Computer

leasehold

property

fittings

equipment

Totals

£

COST

At 1 January 2024

200,000

9,830

12,713

2,320

224,863

Additions

-

715

2,165

2,880

At 31 December 2024

200,000

9,830

13,428

4,485

227,743

DEPRECIATION

At 1 January 2024

44,000

1,305

9,565

854

55,724

Charge for year

4,000

197

1,125

727

6,049

At 31 December 2024

48,000

1,502

10,690

1,581

61,773

NET BOOK VALUE

At 31 December 2024

152,000

8,328

2,738

2,904

165,970

At 31 December 2023

156,000

8,525

3,148

1,466

169,139

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

197,425

343,646

Other debtors

41,663

20,866

Prepayments and accrued income

23,818

75,547

262,906

440,059

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

188,764

103,039

Trade creditors

546,875

772,157

Tax

51,060

62,898

Social security and other taxes

4,212

3,319

Pension

366

VAT

40,635

29,398

Other creditors

-

755

Directors' current accounts

1,866

1,361

Accruals and deferred income

22,226

131,890

856,004

1,105,183

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank overdrafts

188,764

103,039

The bank holds a fixed and floating charge over the company's assets in relation to the overdraft facility. The director has also provided a guarantee to the company's bank in relation to its overdraft facility.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Southwick Court Fine Wines (2012) Ltd for the year ended 31 December 2024 which comprise the Profit & Loss Account, Balance Sheet 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Southwick Court Fine Wines (2012) Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Southwick Court Fine Wines (2012) Ltd and state those matters that we have agreed to state to the director of Southwick Court Fine Wines (2012) Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Southwick Court Fine Wines (2012) Ltd and its director for our work or for this report.

It is your duty to ensure that Southwick Court Fine Wines (2012) Ltd 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 Southwick Court Fine Wines (2012) Ltd. You consider that Southwick Court Fine Wines (2012) Ltd 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 Southwick Court Fine Wines (2012) Ltd. 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.

Xeinadin Swiss Cottage Limited

Harben House

Harben Parade

Finchley Road

LONDON

NW3 6LH

29 September 2025