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Registered number: 03947609
The Good Wine Shop Limited
Unaudited Financial Statements
For The Year Ended 31 January 2025
LK & Associates Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 03947609
2025 2024
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 21,250 6,283
Tangible Assets 5 106,861 113,041
128,111 119,324
CURRENT ASSETS
Stocks 6 511,189 528,270
Debtors 7 37,889 32,045
Cash at bank and in hand 99,673 154,906
648,751 715,221
Creditors: Amounts Falling Due Within One Year 8 (492,130 ) (595,162 )
NET CURRENT ASSETS (LIABILITIES) 156,621 120,059
TOTAL ASSETS LESS CURRENT LIABILITIES 284,732 239,383
Creditors: Amounts Falling Due After More Than One Year 9 (53,911 ) (32,498 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (13,499 ) (10,560 )
NET ASSETS 217,322 196,325
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 217,321 196,324
SHAREHOLDERS' FUNDS 217,322 196,325
Page 1
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For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M J Wrigglesworth
Director
15/10/2025
The notes on pages 3 to 7 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
The Good Wine Shop Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03947609 . The registered office is Annecy Court, Ferry Works, Summer Road, Thames Ditton, Surrey, KT7 0QJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets comprises Website Development. This is amortised to the profit and loss account over its estimated economic life of 4 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold Over the lease term
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
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2.6. Stocks and Work in Progress
Stock comprises finished goods and is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. The cost of finished goods comprises direct expenditure and any overheads incurred in bringing the stock to its
present location and condition.
At each reporting date, stock is assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in the profit and loss account.
2.7. Financial Instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.8. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
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2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2024: 29)
27 29
4. Intangible Assets
Other
£
Cost
As at 1 February 2024 27,225
Additions 21,053
As at 31 January 2025 48,278
Amortisation
As at 1 February 2024 20,942
Provided during the period 6,086
As at 31 January 2025 27,028
Net Book Value
As at 31 January 2025 21,250
As at 1 February 2024 6,283
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5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 February 2024 101,304 18,952 220,416 340,672
Additions 3,495 - 31,011 34,506
Disposals - - (517 ) (517 )
As at 31 January 2025 104,799 18,952 250,910 374,661
Depreciation
As at 1 February 2024 37,554 15,785 174,292 227,631
Provided during the period 10,179 3,167 27,277 40,623
Disposals - - (454 ) (454 )
As at 31 January 2025 47,733 18,952 201,115 267,800
Net Book Value
As at 31 January 2025 57,066 - 49,795 106,861
As at 1 February 2024 63,750 3,167 46,124 113,041
6. Stocks
2025 2024
£ £
Stock 511,189 528,270
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 10,131 6,640
Other debtors 27,758 25,405
37,889 32,045
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8. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 219,160 286,044
Bank loans and overdrafts 24,177 24,424
Other creditors 127,524 166,549
Taxation and social security 121,269 118,145
492,130 595,162
9. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 53,911 32,498
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 1 1
The company's share capital comprises 100 ordinary 1p shares, subdivided into 60 ordinary 'A' shares and 40 ordinary 'B' shares. The ordinary shares do not carry any right to fixed income. The ‘A’ ordinary shares and ‘B’ ordinary shares rank pari passu with regard to entitlement to dividend except the directors may at any time resolve to declare a dividend on one or other class of shares and not on one or other class. In all respects the shares rank pari passu.
11. Related Party Transactions
Included within other creditors is £20,569 (2024: £40,113) due to M Wrigglesworth, a director. There are no fixed repayment terms and interest is charged on the balance at market rates.
Also included within other creditors is £20,289 (2024: £37,043) due to E Wrigglesworth, a director. There are no fixed repayment terms and interest is charged at market rates.
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