Company registration number 08705837 (England and Wales)
ST SWITHINS WINE SHIPPERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
PAGES FOR FILING WITH REGISTRAR
ST SWITHINS WINE SHIPPERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ST SWITHINS WINE SHIPPERS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
163,451
193,924
Current assets
Stocks
94,492
99,847
Debtors
5
16,564
27,339
Cash at bank and in hand
213,085
198,555
324,141
325,741
Creditors: amounts falling due within one year
6
(241,047)
(300,639)
Net current assets
83,094
25,102
Total assets less current liabilities
246,545
219,026
Creditors: amounts falling due after more than one year
7
-
0
(12,001)
Net assets
246,545
207,025
Capital and reserves
Called up share capital
8
1,000
1,000
Profit and loss reserves
245,545
206,025
Total equity
246,545
207,025

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 8 May 2026 and are signed on its behalf by:
Mr K Grant
Director
Company Registration No. 08705837
ST SWITHINS WINE SHIPPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
- 2 -
1
Accounting policies
Company information

St Swithins Wine Shippers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11-12 St. Swithin's Lane, London, EC4N 8AL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have true been prepared on a going concern basis and the directors confirm their belief that the company will continue to trade for a period at least 12 months from the date of approval of the financial statements.

The company is reliant on the support of the directors/shareholders who have supplied loan finance.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received on the sale of wine and is shown net of VAT and other sales related taxes.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
straight line over the period of the lease
Leasehold improvements
straight line over the period of the lease
Fixtures, fittings & equipment
15% - 33% straight line

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.

1.5
Stocks

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.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

ST SWITHINS WINE SHIPPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from related parties, 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 paymen ts 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

ST SWITHINS WINE SHIPPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Estimation of the useful lives of tangible assets

Estimation is required in determining the useful lives of such assets and their residual values.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
ST SWITHINS WINE SHIPPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 5 -
4
Tangible fixed assets
Land and buildings
Fixtures, fitting and equipment
Total
£
£
£
Cost
At 1 September 2024
489,103
76,157
565,260
Additions
5,800
-
0
5,800
At 31 August 2025
494,903
76,157
571,060
Depreciation and impairment
At 1 September 2024
295,303
76,033
371,336
Depreciation charged in the year
36,149
124
36,273
At 31 August 2025
331,451
76,157
407,608
Carrying amount
At 31 August 2025
163,451
-
0
163,451
At 31 August 2024
193,800
124
193,924
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,715
15,661
Other debtors
14,849
11,678
16,564
27,339
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loan
12,000
16,000
Trade creditors
22,898
121,529
Amounts owed to group undertakings
144,000
-
0
Corporation tax
-
0
16,003
Other taxation and social security
14,784
10,862
Other creditors
47,365
136,245
241,047
300,639

Bank loan includes Coronavirus Business Interruption Loan which is repayable in instalments over 5 years.

ST SWITHINS WINE SHIPPERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
- 6 -
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loan
-
0
12,001

Bank loan includes Coronavirus Business Interruption Loan which is repayable in instalments over 5 years.

8
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary shares of £1 each
1,000
1,000
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
164,589
202,089
10
Related party transactions

Patchwork Brands Limited

During the year, management fees amounting to £72,000 (2024: £72,000) were charged by Patchwork Brands Limited. At the balance sheet date the company owed £144,000 (2024: £72,000) to Patchwork Brands Limited, a holding company.

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