Registration number: NI035574

Mundus Wines Limited

(Registration number: NI035574)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	353	534
Current assets
Stocks	5	192,208	240,261
Debtors	6	62,073	78,000
		254,281	318,261
Creditors: Amounts falling due within one year	7	(188,978)	(221,518)
Net current assets		65,303	96,743
Total assets less current liabilities		65,656	97,277
Creditors: Amounts falling due after more than one year	7	(2,224)	(12,667)
Net assets		63,432	84,610
Capital and reserves
Called up share capital	8	160,000	160,000
Retained earnings		(96,568)	(75,390)
Shareholders' funds		63,432	84,610

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 December 2025 and signed on its behalf by:
 

......................................... Mr Andrew Terence John Montague Director

......................................... Mr Seamus Bonner Company secretary and director

Mundus Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 3 Kensington Road, Belfast, BT5 6NG.

These financial statements were authorised for issue by the Board on 31 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	15% reducing balance

Mundus Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stocks

Stocks are 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 and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Mundus Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Land and buildings £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	2,000	13,011	15,011
At 31 March 2025	2,000	13,011	15,011
Depreciation
At 1 April 2024	2,000	12,477	14,477
Charge for the year	-	181	181
At 31 March 2025	2,000	12,658	14,658
Carrying amount
At 31 March 2025	-	353	353
At 31 March 2024	-	534	534

5

Stocks

	2025 £	2024 £
Other inventories	192,208	240,261

6

Debtors

Current	2025 £	2024 £
Trade debtors	62,073	78,000
	62,073	78,000

Mundus Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	55,118	63,865
Trade creditors		27,636	52,066
Taxation and social security		9,118	6,985
Accruals and deferred income		4,246	5,355
Other creditors		92,860	93,247
		188,978	221,518

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	2,224	12,667

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	160,000	160,000	160,000	160,000

Mundus Wines Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,224	12,667

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,642
Bank overdrafts	45,118	53,223
	55,118	63,865

10	Related party transactions

Included in other creditors is a loan from the Directors of £ 86,828 ( 2024 : £ 87,761 ).

No interest has been charged in respect of this loan.