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Company No: 04479554 (England and Wales)

# UNCORKED LIMITED

### Unaudited Financial Statements
For the financial year ended 31 July 2025
Pages for filing with the registrar

UNCORKED LIMITED

## Unaudited Financial Statements

For the financial year ended 31 July 2025

Contents

UNCORKED LIMITED

## COMPANY INFORMATION

For the financial year ended 31 July 2025
UNCORKED LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 31 July 2025

DIRECTOR | A J E Rae

SECRETARY | A J E Rae

REGISTERED OFFICE | 45 Gresham Street
| London
| EC2V 7BG
| United Kingdom

COMPANY NUMBER | 04479554 (England and Wales)

ACCOUNTANT | S&W Partners LLP
| Onslow House
| Onslow Street
| Guildford
| GU1 4TL

UNCORKED LIMITED

## BALANCE SHEET

As at 31 July 2025
UNCORKED LIMITED

## BALANCE SHEET (continued)

As at 31 July 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Intangible assets | 3 | 1,498 |  | 5,907
Tangible assets | 4 | 33,157 |  | 68,186
|  | 34,655 |  | 74,093
Current assets |  |  |  |
Stocks |  | 738,805 |  | 764,569
Debtors | 5 | 837,528 |  | 996,679
Cash at bank and in hand |  | 30,590 |  | 10,066
|  | 1,606,923 |  | 1,771,314
Creditors: amounts falling due within one year | 6 | ( 1,173,199) |  | ( 1,370,718)
Net current assets |  | 433,724 |  | 400,596
Total assets less current liabilities |  | 468,379 |  | 474,689
Creditors: amounts falling due after more than one year | 7 | ( 33,334) |  | ( 33,333)
Provision for liabilities | 8 | ( 7,622) |  | ( 16,208)
Net assets |  | 427,423 |  | 425,148
Capital and reserves |  |  |  |
Called-up share capital |  | 100 |  | 100
Profit and loss account |  | 427,323 |  | 425,048
Total shareholder's funds |  | 427,423 |  | 425,148

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Uncorked Limited (registered number: 04479554) were approved and authorised for issue by the Director on 14 April 2026. They were signed on its behalf by:

A J E Rae Director |

UNCORKED LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025
UNCORKED LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Uncorked Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 45 Gresham Street, London, EC2V 7BG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The functional currency of Uncorked Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.
These financial statements are separate financial statements.

##### Going concern

The financial statements have been prepared on a going concern basis.
The Directors have carefully reviewed the future prospects of the company and its future cash flows, having assessed this the Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future being at least the next 12 months from signing of these financial statements.
For this reason the directors continue to adopt the going concern basis for the preparation of the Financial Statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the company was unable to continue as a going concern.

##### Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.
Exchange differences are recognised in the Profit and Loss Account in the period in which they arise on monetary items.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue arising from the provision of services is recognised by reference to the stage of completion as follows:
When the stage of completion cannot be measured reliably revenue is recognised up to the extent of recoverable expenses and accordingly no profit is recognised.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
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 financial statements. 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 enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

##### Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill | 10 years straight line
Other intangible assets | 4 years straight line

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 10 years straight line
Other property, plant and equipment | 2 - 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

##### Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.
All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

##### Pensions

Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 7 |  | 7

#### 3. Intangible assets

| Goodwill |  | Other intangible assets |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 August 2024 | 92,500 |  | 188,384 |  | 280,884
Additions | 0 |  | 1,500 |  | 1,500
At 31 July 2025 | 92,500 |  | 189,884 |  | 282,384
Accumulated amortisation |  |  |  |  |
At 01 August 2024 | 92,500 |  | 182,477 |  | 274,977
Charge for the financial year | 0 |  | 5,909 |  | 5,909
At 31 July 2025 | 92,500 |  | 188,386 |  | 280,886
Net book value |  |  |  |  |
At 31 July 2025 | 0 |  | 1,498 |  | 1,498
At 31 July 2024 | 0 |  | 5,907 |  | 5,907

#### 4. Tangible assets

| Leasehold improve- ments |  | Other property, plant and equipment |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 August 2024 | 3,747 |  | 185,946 |  | 189,693
Additions | 0 |  | 424 |  | 424
At 31 July 2025 | 3,747 |  | 186,370 |  | 190,117
Accumulated depreciation |  |  |  |  |
At 01 August 2024 | 780 |  | 120,727 |  | 121,507
Charge for the financial year | 375 |  | 35,078 |  | 35,453
At 31 July 2025 | 1,155 |  | 155,805 |  | 156,960
Net book value |  |  |  |  |
At 31 July 2025 | 2,592 |  | 30,565 |  | 33,157
At 31 July 2024 | 2,967 |  | 65,219 |  | 68,186

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 112,353 |  | 146,299
Amounts owed by Group undertakings | 444,517 |  | 444,517
Prepayments | 262,140 |  | 302,086
Corporation tax | 0 |  | 8,259
Other debtors | 18,518 |  | 95,518
| 837,528 |  | 996,679

#### 6. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans and overdrafts | 118,246 |  | 159,184
Trade creditors | 381,487 |  | 302,252
Other loans | 19,500 |  | 40,000
Accruals | 597,040 |  | 806,476
Corporation tax | 8,644 |  | 0
Other taxation and social security | 47,068 |  | 61,384
Other creditors | 1,214 |  | 1,422
| 1,173,199 |  | 1,370,718

#### 7. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 33,334 |  | 33,333

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 16,208) |  | ( 23,268)
Credited to the Profit and Loss Account | 8,586 |  | 7,060
At the end of financial year | ( 7,622) |  | ( 16,208)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Fixed timing difference | ( 7,501) |  | ( 16,139)
Short term difference | ( 121) |  | ( 69)
| ( 7,622) |  | ( 16,208)

#### 9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 44,625 |  | 59,500
between one and five years | 357,000 |  | 173,542
Total future minimum lease payments under non-cancellable operating leases | 401,625 |  | 233,042

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the fund and amounted to £6,612 (2024 -£7,428). Contributions totalling £1,214 (2024 - £1,422) were payable to the fund at the balance sheet date and are included in creditors.

#### 10. Related party transactions

Other related party transactions

| 2025 |  | 2024
| £ |  | £
Brought forward | 95,518 |  | 94,799
Amount advanced | 43,000 |  | 102,500
Amount repaid | (120,000) |  | (101,781)
Carried forward | 18,518 |  | 95,518

Included within debtors due within one year is £18,518 (2024 - £95,518) owed by the director. These amounts are interest free and repayable on demand.

The company has claimed exemption under paragraph 33.1A to not disclose transactions with wholly owned member companies of the group.