Whighams Wine Cellars Limited - Accounts to registrar (filleted) - small 18.2

Whighams Wine Cellars Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: SC096050 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2021

for

Whighams Wine Cellars Limited

Whighams Wine Cellars Limited (Registered number: SC096050)






Contents of the Financial Statements
for the Year Ended 30 April 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Whighams Wine Cellars Limited

Company Information
for the Year Ended 30 April 2021







DIRECTOR: N M Henderson





REGISTERED OFFICE: Cowan & Partners Limited
60 Constitution Street
Leith
Edinburgfh
Lothian
EH6 6RR





REGISTERED NUMBER: SC096050 (Scotland)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet
30 April 2021

30.4.21 30.4.20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 71,082 86,225

CURRENT ASSETS
Stocks 5 13,598 16,350
Debtors 6 86,525 86,292
Cash at bank 29,076 62,045
129,199 164,687
CREDITORS
Amounts falling due within one year 7 27,434 56,964
NET CURRENT ASSETS 101,765 107,723
TOTAL ASSETS LESS CURRENT
LIABILITIES

172,847

193,948

CREDITORS
Amounts falling due after more than one
year

8

100,000

101,750
NET ASSETS 72,847 92,198

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Share premium 7,065 7,065
Retained earnings 55,782 75,133
SHAREHOLDERS' FUNDS 72,847 92,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Whighams Wine Cellars Limited (Registered number: SC096050)

Balance Sheet - continued
30 April 2021


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 August 2021 and were signed by:





N M Henderson - Director


Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements
for the Year Ended 30 April 2021

1. STATUTORY INFORMATION

Whighams Wine Cellars Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis. However, the company can only continue to trade through the financial support of the directors. This support shall continue until such times as profits are generated and the reserve deficit has returned to a positive nature.

Turnover
Turnover represents the net invoiced sale of services and goods, excluding value added tax. The company's policy is to recognise a sale when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost, 25% on reducing balance and 12.5% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2021

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2020 - 26 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 May 2020 149,364 220,170 7,077 376,611
Additions - 6,389 100 6,489
At 30 April 2021 149,364 226,559 7,177 383,100
DEPRECIATION
At 1 May 2020 118,281 165,028 7,077 290,386
Charge for year 6,216 15,383 33 21,632
At 30 April 2021 124,497 180,411 7,110 312,018
NET BOOK VALUE
At 30 April 2021 24,867 46,148 67 71,082
At 30 April 2020 31,083 55,142 - 86,225

5. STOCKS
30.4.21 30.4.20
£    £   
Stocks 13,598 16,350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.21 30.4.20
£    £   
Other debtors 15,245 16,222
Amounts due by Group Companies 69,377 70,070
VAT 1,903 -
86,525 86,292

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.21 30.4.20
£    £   
Bank loans and overdrafts 296 63
Trade creditors 6,235 164
Other loans less than 1 year 1,750 21,000
Tax 3,846 2,535
Social security and other taxes 3,314 2,734
VAT - 18,694
Accrued expenses 11,993 11,774
27,434 56,964

Whighams Wine Cellars Limited (Registered number: SC096050)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.21 30.4.20
£    £   
Other loans - 1-2 years - 1,750
CBILS Loan 100,000 100,000
100,000 101,750

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Whighams Wine Cellars Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whighams Wine Cellars Ltd for the year ended 30th April, 2016 which comprise the Profit and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Whighams Wine Cellars Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Whighams Wine Cellars Ltd and state those matters that we have agreed to state to the director of Whighams Wine Cellars Ltd in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Whighams Wine Cellars Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whighams Wine Cellars Ltd. You consider that Whighams Wine Cellars Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Whighams Wine Cellars Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR


11 August 2021