1 April 2024 v2025.63.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP136405972024-04-012025-03-31136405972025-03-31136405972024-03-3113640597core:WithinOneYear2025-03-3113640597core:WithinOneYear2024-03-3113640597core:ShareCapital2025-03-3113640597core:ShareCapital2024-03-3113640597core:SharePremium2025-03-3113640597core:SharePremium2024-03-3113640597core:RetainedEarningsAccumulatedLosses2025-03-3113640597core:RetainedEarningsAccumulatedLosses2024-03-3113640597bus:Director12024-04-012025-03-3113640597bus:RegisteredOffice2024-04-012025-03-3113640597core:OtherResidualIntangibleAssets2024-04-012025-03-3113640597core:LandBuildings2024-04-012025-03-3113640597core:OfficeEquipment2024-04-012025-03-3113640597core:FurnitureFittings2024-04-012025-03-3113640597core:MotorVehicles2024-04-012025-03-31136405972023-04-012024-03-3113640597core:IntangibleAssetsOtherThanGoodwill2024-04-012025-03-3113640597core:IntangibleAssetsOtherThanGoodwill2025-03-3113640597core:LandBuildings2024-04-0113640597core:PlantMachinery2024-04-01136405972024-04-0113640597core:PlantMachinery2024-04-012025-03-3113640597core:LandBuildings2025-03-3113640597core:PlantMachinery2025-03-3113640597core:LandBuildings2024-03-3113640597core:PlantMachinery2024-03-3113640597core:BetweenOneFiveYears2025-03-3113640597core:BetweenOneFiveYears2024-03-311364059712024-04-012025-03-3113640597countries:EnglandWales2024-04-012025-03-3113640597bus:AuditExemptWithAccountantsReport2024-04-012025-03-3113640597bus:PrivateLimitedCompanyLtd2024-04-012025-03-3113640597bus:SmallEntities2024-04-012025-03-3113640597bus:FullAccounts2024-04-012025-03-31
Company registration number:
13640597
SOURCING WINES LTD
Unaudited Filleted Financial Statements for the year ended
31 March 2025
SOURCING WINES LTD
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements of SOURCING WINES LTD
Year ended
31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
SOURCING WINES LTD
for the year ended
31 March 2025
which comprise the income statement, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/​regulations.
This report is made solely to the Board of Directors of
SOURCING WINES LTD
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
SOURCING WINES LTD
and state those matters that I have agreed to state to the Board of Directors of
SOURCING WINES LTD
, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
SOURCING WINES LTD
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
SOURCING WINES 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 loss of
SOURCING WINES LTD
. You consider that
SOURCING WINES LTD
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of SOURCING WINES LTD. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
SyK Management Consulting Ltd
Level 1,Devonshire House
1 Mayfair Place,Mayfair
London
W1J 8AJ
United Kingdom
Date:
22 September 2025
SOURCING WINES LTD
Statement of Financial Position
31 March 2025
20252024
Note££
Fixed assets    
Intangible assets 5
84,325
  -  
Tangible assets 6
116,293
 
162,744
 
200,618
 
162,744
 
Current assets    
Stocks
52,321
 
51,480
 
Debtors 7
41,551
 
32,418
 
Cash at bank and in hand
5,756
 
19,603
 
99,628
 
103,501
 
Creditors: amounts falling due within one year 8
(334,737
 )
(214,908
 )
Net current liabilities
(235,109
 )
(111,407
 )
Total assets less current liabilities (34,491 ) 51,337  
Capital and reserves    
Called up share capital
500
 
500
 
Share premium
49,950
 
49,950
 
Profit and loss account
(84,941
 )
887
 
Shareholders (deficit)/funds
(34,491
 )
51,337
 
For the year ending
31 March 2025
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • 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;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
22 September 2025
, and are signed on behalf of the board by:
Mr. William Peter Burgess
Director
Company registration number:
13640597
SOURCING WINES LTD
Notes to the Financial Statements
Year ended
31 March 2025

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
184 Bellenden Road
,
London
,
SE15 4BW
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Other intangible assets
Straight line over 10 years

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land and buildings
Straight line over 5 years
Office equipment
Straight line over 3 years
Fixtures and fittings
Straight line over 3 years
Motor vehicles
Straight line over 5 years

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2024:
8
).

5 Intangible assets

Other intangible assets
£
Cost  
At
1 April 2024
 -  
Additions
85,000
 
At
31 March 2025
85,000
 
Amortisation  
At
1 April 2024
 -  
Charge
675
 
At
31 March 2025
675
 
Carrying amount  
At
31 March 2025
84,325
 
At 31 March 2024 -  

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 April 2024
201,690
 
36,397
 
238,087
 
Additions
1,360
 
5,002
 
6,362
 
At
31 March 2025
203,050
 
41,399
 
244,449
 
Depreciation      
At
1 April 2024
60,809
 
14,534
 
75,343
 
Charge
40,495
 
12,318
 
52,813
 
At
31 March 2025
101,304
 
26,852
 
128,156
 
Carrying amount      
At
31 March 2025
101,746
 
14,547
 
116,293
 
At 31 March 2024
140,881
 
21,863
 
162,744
 

7 Debtors

20252024
££
Trade debtors
4,771
 
783
 
Other debtors
36,780
 
31,635
 
41,551
 
32,418
 

8 Creditors: amounts falling due within one year

20252024
££
Trade creditors
121,061
 
86,832
 
Taxation and social security
48,833
 
38,087
 
Other creditors
164,843
 
89,989
 
334,737
 
214,908
 

9 Operating leases

The company as lessee    
20252024
££
Not later than 1 year
76,500
 
76,500
 
Later than 1 year and not later than 5 years
124,762
 
201,262
 
201,262
 
277,762