ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 12346018

FRANKLIN'S WINE LTD

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FRANKLIN'S WINE LTD

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FRANKLIN'S WINE LTD
FOR THE YEAR ENDED 31 DECEMBER 2024

You consider that the Company is exempt from an audit for the year ended 31 December 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, we have prepared the financial statements on pages 9 from the accounting records of the Company and on the basis of information and explanations you have given to us.

We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.

Paperchase Business Services Ltd

The Courtyard

14A Sydenham Road

Croydon

London

CR0 2EE

31 December 2025

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FRANKLIN'S WINE LTD

REGISTERED NUMBER: 12346018

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		23,563		36,046
			23,563		36,046
Current assets
Stocks		32,553		33,950
Debtors: amounts falling due within one year	5	37,058		16,605
Cash at bank and in hand	6	12,474		21,246
		82,085		71,801
Creditors: amounts falling due within one year	7	(349,292)		(314,112)
Net current liabilities			(267,207)		(242,311)
Total assets less current liabilities			(243,644)		(206,265)
Creditors: amounts falling due after more than one year	8		(139,092)		(202,902)

Net liabilities			(382,736)		(409,167)

Capital and reserves
Called up share capital	25	25
Profit and loss account	(382,761)	(409,192)
	(382,736)	(409,167)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 31 December 2025.

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FRANKLIN'S WINE LTD

REGISTERED NUMBER: 12346018

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

................................................

Aneeta Dhesi

Director

The notes on pages 5 to 9 form part of these financial statements.

Page 3


		FRANKLIN'S WINE LTD

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	25	(363,848)	(363,823)

Loss for the year	-	(45,344)	(45,344)

At 1 January 2024	25	(409,192)	(409,167)

Profit for the year	-	26,431	26,431
At 31 December 2024	25	(382,761)	(382,736)

The notes on pages 5 to 9 form part of these financial statements.

Page 4

FRANKLIN'S WINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Franklin's Wine Ltd is a private company, limited by shares, registered in England and Wales. The
company's registered number and registered office address are as below:
Registered number: 12346018
Registered office: 71-75 Shelton Street, London, Greater london, United Kingdom, WC2H 9JQ

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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FRANKLIN'S WINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that 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.

2.6

Borrowing costs

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

2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	20%	Straight line method
Fixtures and fittings	-	20%	Straight line method
Computer equipment	-	20%	Straight line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are 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 profit or loss.

2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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FRANKLIN'S WINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including the director, during the year was 6 (2023 - 8)

4.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2024	9,153	93,469	4,752	107,374
Additions	-	10,664	-	10,664
At 31 December 2024	9,153	104,133	4,752	118,038
Depreciation
At 1 January 2024	4,424	63,609	3,295	71,328
Charge for the year on owned assets	1,831	20,365	951	23,147
At 31 December 2024	6,255	83,974	4,246	94,475
Net book value
At 31 December 2024	2,898	20,159	506	23,563
At 31 December 2023	4,729	29,860	1,457	36,046

Debtors

2024

2023

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FRANKLIN'S WINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

5.Debtors (continued)


Other debtors	18,408	14,951
Prepayments and accrued income	18,650	1,654
	37,058	16,605

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	12,474	21,246
	12,474	21,246

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other loans	-	6,600
Trade creditors	99,457	36,509
Corporation tax	-	13,987
Other taxation and social security	140,638	128,831
Other creditors	89,818	112,100
Accruals and deferred income	19,379	16,085
	349,292	314,112

8.	Creditors: Amounts falling due after more than one year
		2024	2023
		£	£

Bank loans	87,050	100,000
Other loans	52,042	102,902
	139,092	202,902

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FRANKLIN'S WINE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Amounts falling due within one year
Other loans	-	6,600
	-	6,600

Amounts falling due 2-5 years
Bank loans	87,050	100,000
Other loans	52,042	102,902
	139,092	202,902

	139,092	209,502

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