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Company Registration No. 08740482 (England and Wales)
Newcomer Wines Limited Unaudited accounts for the year ended 30 November 2024
Newcomer Wines Limited Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Newcomer Wines Limited Company Information for the year ended 30 November 2024
Director
P Honegger
Company Number
08740482 (England and Wales)
Registered Office
C/O Peter Honegger Newcomer Wines Ltd 5 Dalston Lane London E8 3DF United Kingdom
Accountants
Accounts and Legal Consultants Ltd Suite 1-3, The Hop Exchange 24 Southwark Street London SE1 1TY
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Newcomer Wines Limited Statement of financial position as at 30 November 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
9,995
9,276
Investments
5
12,073
12,073
22,068
21,349
Current assets
Inventories
847,195
726,367
Debtors
6
474,710
453,454
Cash at bank and in hand
40,845
19,112
1,362,750
1,198,933
Creditors: amounts falling due within one year
7
(1,209,622)
(1,105,543)
Net current assets
153,128
93,390
Total assets less current liabilities
175,196
114,739
Creditors: amounts falling due after more than one year
8
(4,040)
(15,000)
Provisions for liabilities
Deferred tax
(2,499)
-
Net assets
168,657
99,739
Capital and reserves
Called up share capital
9
10
10
Profit and loss account
168,647
99,729
Shareholders' funds
168,657
99,739
For the year ending 30 November 2024 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 January 2026 and were signed on its behalf by
P Honegger Director Company Registration No. 08740482
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Newcomer Wines Limited Notes to the Accounts for the year ended 30 November 2024
1
Statutory information
Newcomer Wines Limited is a private company, limited by shares, registered in England and Wales, registration number 08740482. The registered office is C/O Peter Honegger, Newcomer Wines Ltd, 5 Dalston Lane, London, E8 3DF, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis. The directors consider that the company has adequate resources to continue in operational existence for the foreseeable future, and therefore have adopted the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Foreign exchange
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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
Income tax expense represents the sum of the tax payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted. The tax expense for the year comprises current. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates.
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Newcomer Wines Limited Notes to the Accounts for the year ended 30 November 2024
Pension costs
The company operates a defined contribution plan for its employees. A defined contribution plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20%
Plant & machinery
25%
Fixtures & fittings
25%
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.
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.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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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Newcomer Wines Limited Notes to the Accounts for the year ended 30 November 2024
Creditors
Short term trade 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.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Computer equipment
Total
£
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2023
70,000
15,933
46,486
35,124
167,543
Additions
-
1,107
-
3,666
4,773
At 30 November 2024
70,000
17,040
46,486
38,790
172,316
Depreciation
At 1 December 2023
70,000
14,251
42,157
31,859
158,267
Charge for the year
-
901
1,384
1,769
4,054
At 30 November 2024
70,000
15,152
43,541
33,628
162,321
Net book value
At 30 November 2024
-
1,888
2,945
5,162
9,995
At 30 November 2023
-
1,682
4,329
3,265
9,276
5
Investments
Subsidiary undertakings
£
Valuation at 1 December 2023
12,073
Valuation at 30 November 2024
12,073
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
6
Debtors
2024
2023
£
£
Amounts falling due within one year
Trade debtors
194,296
265,786
Accrued income and prepayments
-
17,778
Other debtors
280,414
169,890
474,710
453,454
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Newcomer Wines Limited Notes to the Accounts for the year ended 30 November 2024
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,392
10,000
Trade creditors
338,877
332,336
Amounts owed to group undertakings and other participating interests
118,654
69,865
Taxes and social security
89,063
281,509
Other creditors
651,136
409,583
Accruals
1,500
2,250
1,209,622
1,105,543
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
4,040
15,000
9
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
10
Average number of employees
During the year the average number of employees was 10 (2023: 10).
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