Beers Wines & Spirits Limited - Limited company accounts 11.7

REGISTERED NUMBER: 06002433 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 30 April 2016

for

Beers Wines & Spirits Limited

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

P A Hill

R Hill

SECRETARY:

P A Hill

REGISTERED OFFICE:

Britannia Chambers

181/185 High Street

New Malden

Surrey

KT3 4BH

REGISTERED NUMBER:

06002433 (England and Wales)

ACCOUNTANTS:

SLOANE WINCKLESS & CO

Britannia Chambers

181/185 High Street

New Malden

Surrey

KT3 4BH

The directors present their report with the financial statements of the company for the year ended 30 April 2016.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of an off licence.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 May 2015 to the date of this report.

P A Hill

R Hill

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to

small companies.

ON BEHALF OF THE BOARD:

P A Hill - Secretary

15 June 2016

TURNOVER

289,149

294,953

Cost of sales

206,065

208,255

GROSS PROFIT

83,084

86,698

Administrative expenses

55,836

55,933

OPERATING PROFIT and

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION

2

27,248

30,765

Tax on profit on ordinary activities

3

6,145

5,457

PROFIT FOR THE FINANCIAL YEAR

21,103

25,308

FIXED ASSETS

Tangible assets

5

3,102

4,645

CURRENT ASSETS

Stocks

35,478

39,511

Debtors

6

10,762

9,125

Cash in hand

11,980

17,220

58,220

65,856

CREDITORS

Amounts falling due within one year

7

59,976

69,645

NET CURRENT LIABILITIES

(1,756

)

(3,789

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,346

856

PROVISIONS FOR LIABILITIES

8

620

233

NET ASSETS

726

623

CAPITAL AND RESERVES

Called up share capital

9

6

6

Profit and loss account

10

720

617

SHAREHOLDERS' FUNDS

726

623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 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.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 15 June 2016 and were signed on its behalf by:

P A Hill - Director

R Hill - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

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

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

-

25% on reducing balance

Stocks

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

moving items.

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

30.4.16

30.4.15

£

£

Depreciation - owned assets

1,543

1,588

Directors' remuneration and other benefits etc

21,200

20,052

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.4.16

30.4.15

£

£

Current tax:

UK corporation tax

5,758

5,775

Deferred tax

387

(318

)

Tax on profit on ordinary activities

6,145

5,457

4.

DIVIDENDS

30.4.16

30.4.15

£

£

Ordinary shares of 1 each

Final

21,000

50,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2015

and 30 April 2016

11,108

DEPRECIATION

At 1 May 2015

6,463

Charge for year

1,543

At 30 April 2016

8,006

NET BOOK VALUE

At 30 April 2016

3,102

At 30 April 2015

4,645

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.16

30.4.15

£

£

Trade debtors

3,464

1,357

Other debtors

7,298

7,768

10,762

9,125

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.16

30.4.15

£

£

Trade creditors

17,245

11,347

Taxation and social security

8,595

7,553

Other creditors

34,136

50,745

59,976

69,645

8.	PROVISIONS FOR LIABILITIES

30.4.16

30.4.15

£

£

Deferred tax

620

233

Deferred

tax

£

Balance at 1 May 2015

233

Charge for the year

387

Balance at 30 April 2016

620

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

£

6

Ordinary

1

6

6

10.

RESERVES

Profit

and loss

account

£

At 1 May 2015

617

Profit for the year

21,103

Dividends

(21,000

)

At 30 April 2016

720

11.	RELATED PARTY DISCLOSURES

The company is under the control of Messrs. P.A. and R.P. Hill who are both directors and together own 100% of

the issued share capital.

At the balance sheet date, the company owed Mr. P.A. Hill £16,167 (2015 - £31,301) and Mr. R.P. Hill £16,167

(2015 - £16,301).

Dividends were paid as follows:-

2016 2015

£ £

P.A. Hill 10,500 25,000

R.P. Hill 10,500 25,000

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