Sugarvine Limited - Accounts to registrar (filleted) - small 18.2

Sugarvine Limited - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 08094965 (England and Wales)












Unaudited Financial Statements

for the Period 1 November 2019 to 30 April 2021

for

SUGARVINE LIMITED

SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)






Contents of the Financial Statements
for the Period 1 November 2019 to 30 April 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SUGARVINE LIMITED

Company Information
for the Period 1 November 2019 to 30 April 2021







DIRECTORS: A M Holland
C Holland





REGISTERED OFFICE: The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW





REGISTERED NUMBER: 08094965 (England and Wales)





ACCOUNTANTS: Haworths Limited
Chartered Accountants
The Old Tannery
Eastgate
Accrington
Lancashire
BB5 6PW

SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

Balance Sheet
30 April 2021

2021 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 2,453 3,138
2,453 3,138

CURRENT ASSETS
Stocks 2,949 -
Debtors 7 171,422 198,473
Cash at bank 714 -
175,085 198,473
CREDITORS
Amounts falling due within one year 8 83,805 190,156
NET CURRENT ASSETS 91,280 8,317
TOTAL ASSETS LESS CURRENT
LIABILITIES

93,733

11,455

CREDITORS
Amounts falling due after more than one
year

9

(41,637

)

-

PROVISIONS FOR LIABILITIES (284 ) (353 )
NET ASSETS 51,812 11,102

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 51,811 11,101
SHAREHOLDERS' FUNDS 51,812 11,102

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

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

The directors acknowledge their 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.

SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

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 Board of Directors and authorised for issue on 29 July 2021 and were signed on its behalf by:





A M Holland - Director


SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

Notes to the Financial Statements
for the Period 1 November 2019 to 30 April 2021

1. STATUTORY INFORMATION

Sugarvine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Going concern
During the period the company met its day to day working capital requirements by the financial support of the government by way of grants.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis.

The financial statements do not include any adjustments that would result from the withdrawal of this support.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, has been amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Website - 33% on cost

Government grants
Grants are accounted under the accruals model. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in profit or loss in the same period as the related expenditure. Grants of a revenue nature for which there are no future performance-related conditions and costs are recognised as income in the period in which they become receivable.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

Notes to the Financial Statements - continued
for the Period 1 November 2019 to 30 April 2021

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period 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 period 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2019 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2019
and 30 April 2021 2,500
AMORTISATION
At 1 November 2019
and 30 April 2021 2,500
NET BOOK VALUE
At 30 April 2021 -
At 31 October 2019 -

SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

Notes to the Financial Statements - continued
for the Period 1 November 2019 to 30 April 2021

6. TANGIBLE FIXED ASSETS
Fixtures
and
fittings Website Totals
£    £    £   
COST
At 1 November 2019 8,140 7,067 15,207
Additions 67 - 67
At 30 April 2021 8,207 7,067 15,274
DEPRECIATION
At 1 November 2019 5,002 7,067 12,069
Charge for period 752 - 752
At 30 April 2021 5,754 7,067 12,821
NET BOOK VALUE
At 30 April 2021 2,453 - 2,453
At 31 October 2019 3,138 - 3,138

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2019
£    £   
Trade debtors 63,922 40,973
Other debtors 107,500 157,500
171,422 198,473

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2019
£    £   
Bank loans and overdrafts 8,363 487
Trade creditors 2,243 10,774
Amounts owed to group undertakings 3,959 142,096
Taxation and social security 40,357 14,280
Other creditors 28,883 22,519
83,805 190,156

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2019
£    £   
Bank loans 41,637 -

SUGARVINE LIMITED (REGISTERED NUMBER: 08094965)

Notes to the Financial Statements - continued
for the Period 1 November 2019 to 30 April 2021

10. SECURED DEBTS

The following secured debts are included within creditors:

2021 2019
£    £   
Bank loans 50,000 -

Bank loans are secured by a government-backed guarantee against the outstanding facility balance.

11. OTHER FINANCIAL COMMITMENTS

At the period end, the company had operating lease commitments of £6,140 (2019 - £nil).