QP Fine Foods Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

QP Fine Foods Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11238565 . The registered office is 54 Salusbury Road, London, NW6 6NN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the sdmall companies regime. The disclosure requirements of section 1A of FRS102 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 amounts in these financial statements are rounded to the nearest £.

THe principle accounting policies adopted are set out below

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold Improvements	Over the life of the lease
Fixtures & Fittings	33.33% straight line

Impairment of Fixed Assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.

2.4. Stocks and Work in Progress

Stocks are valued at the lower of cost and selling price.

2.5. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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

...CONTINUED

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QP Fine Foods Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2025

2.5. Financial Instruments - continued

Basic financial assets, which include debtors 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 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.

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

Current Tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred Tax

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Employee Benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

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

2.8. Retirement Benefits

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

2.9. 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 leases asset are consumed.

3. Average Number of Employees

Average number of employees, including directors, during the period was: 9 (2024: 9)

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QP Fine Foods Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2025

4. Tangible Assets

	Land & Property
	Leasehold Improvements	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 October 2024	3,551	9,187	12,738
Additions	15,490	-	15,490
Disposals	-	(499 )	(499 )

As at 31 December 2025	19,041	8,688	27,729

Depreciation
As at 1 October 2024	1,209	9,187	10,396
Provided during the period	4,168	-	4,168
Impairment losses	10,968	-	10,968
Disposals	-	(499 )	(499 )

As at 31 December 2025	16,345	8,688	25,033

Net Book Value
As at 31 December 2025	2,696	-	2,696

As at 1 October 2024	2,342	-	2,342

5. Stocks

	31 December 2025	30 September 2024
	£	£
Retail goods	199,512	-

6. Debtors

	31 December 2025	30 September 2024
	£	£
Due within one year
Other debtors	-	43,641
Prepayment	20,871	12,436
Corporation tax recoverable assets	-	3,733

	20,871	59,810

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QP Fine Foods Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2025

7. Creditors: Amounts Falling Due Within One Year

	31 December 2025	30 September 2024
	£	£
Trade creditors	202,955	32,847
Corporation tax	18,232	-
Other taxes and social security	17,770	3,871
Other creditors	44,823	598
Gift Vouches Redeemable	2,494	-
Accruals and deferred income	19,054	22,396

	305,328	59,712

8. Share Capital

	31 December 2025	30 September 2024
	£	£
Allotted, Called up and fully paid	1	1

9. Other Commitments

Operating Lease Commitments

Lessee

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

	31 December 2025	30 September 2024
	£	£
Not later than one year	62,500	42,500
Later than one year and not later than five years	250,000	170,000
Later than five years	500,000	29,000

	812,500	241,500

10. Related Party Transactions

The directors recognise the following related parties:

Fine Time Pubs Limited

The company's Directors are also directors of Fine Time Pubs Limited

Fine Time Pubs Limit purchases wine from the company on a cash sales basis paid for at point of sale. No credit sales are provided to Fine Time Pubs Limited. The company recharged telecommunication costs at cost incurred since 5th April 2025 of £944.

R Claassen

Mr Claassen served as a director of company up to the 4 April 2025.

Mr Claassen received no remuneration in the 15 months to 31 December 2025. Mr Claassen made a loan advance to the company during his tenure.

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QP Fine Foods Limited

Notes to the Financial Statements (continued)

For the Period 1 October 2024 to 31 December 2025

Spill The Wine Limited

Spill The Wine Limited acquired 100% of the company's shares on the 5 April 2025 and shares common directors.

There were no transactions between the company and Spill The Wine limited in the period.

Amounts Receivable or Payable at 31 December 2025

Other creditors include Mr Claassen loan balances payable of £44,620 (at 30 September 2024 Nil)

Fine Time Pubs Limited has no amounts outstanding at the 31 December 2025.

Spill The Wine Limited has no amounts outstanding at the 31 December 2025

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		31 December 2025		30 September 2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		2,696		2,342

			2,696		2,342
CURRENT ASSETS
Stocks	5	199,512		-
Debtors	6	20,871		59,810
Cash at bank and in hand		163,970		10,848

		384,353		70,658
Creditors: Amounts Falling Due Within One Year	7	(305,328 )		(59,712 )

NET CURRENT ASSETS (LIABILITIES)			79,025		10,946

TOTAL ASSETS LESS CURRENT LIABILITIES			81,721		13,288

NET ASSETS			81,721		13,288

CAPITAL AND RESERVES
Called up share capital	8		1		1
Income Statement			81,720		13,287

SHAREHOLDERS' FUNDS			81,721		13,288