A & A Wines Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01836130 (England and Wales)

A & A Wines Limited

Unaudited Financial Statements for the Year Ended 31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P Bickerton

A P Connor

SECRETARY:

Mrs V Connor

REGISTERED OFFICE:

Unit 13 Manfield Park

Cranleigh

Surrey

GU6 8PT

REGISTERED NUMBER:

01836130 (England and Wales)

ACCOUNTANTS:

Hughes Waddell

The White House

2 Meadrow

Godalming

Surrey

GU7 3HN

FIXED ASSETS

Tangible assets

4

57,962

75,869

Investments

5

1

1

57,963

75,870

CURRENT ASSETS

Stocks

390,264

443,438

Debtors

6

400,521

385,224

Cash at bank

1,319

-

792,104

828,662

CREDITORS

Amounts falling due within one year

7

477,245

499,058

NET CURRENT ASSETS

314,859

329,604

TOTAL ASSETS LESS CURRENT LIABILITIES

372,822

405,474

CREDITORS

Amounts falling due after more than one year

8

(6,564

)

(33,272

)

PROVISIONS FOR LIABILITIES

(3,093

)

(3,128

)

NET ASSETS

363,165

369,074

CAPITAL AND RESERVES

Called up share capital

75,102

75,102

Retained earnings

288,063

293,972

SHAREHOLDERS' FUNDS

363,165

369,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 12 August 2019 and were signed on its behalf by:

A P Bickerton - Director

A P Connor - Director

1.	STATUTORY INFORMATION

A & A Wines 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents sales of wine and food during the year, excluding value added tax.

Turnover is recognised on delivery of goods.

Tangible fixed assets

Depreciation is provided at the following rates in order to write off the cost less residual value of each asset over

its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Furniture & equipment

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

33.3% on cost

Hire purchase motor vehicles - over the term of the hire purchase agreement taking into account the

balloon payment payable at the end of the agreement.

The cost of tangible fixed assets includes only expenditure directly incurred in bringing the assets into working

condition for their intended use.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock is valued at the lower of purchase price including delivery and import taxes 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.

Foreign currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the balance sheet date. During the year transactions in foreign currencies are translated into sterling at an

average rate set by the directors. Exchange differences are taken into account in arriving at the gross profit.

Hire purchase and rent leasing commitments

Assets obtained under hire purchase contracts are capitalised in the balance sheet. The interest element of these

obligations is charged to the profit and loss account over the relevant period . The capital element of the future

payments is treated as a liability.

Operating lease rentals are charged to the profit and loss account evenly over the period of the lease.

Pension costs and other post-retirement benefits

The company makes contributions on behalf of one of the directors to his individual pension scheme. Pension

scheme contributions are charged to the profit and loss account in the period to which they relate.

Fixed asset investments

Fixed asset investments are stated at cost less any provisions required where there has been a permanent

diminution in their value. Profits or losses arising from disposal of fixed asset investments are treated as part of

the result from ordinary activities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2017 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

187,270

Additions

17,971

Disposals

(17,641

)

At 31 December 2018

187,600

DEPRECIATION

At 1 January 2018

111,401

Charge for year

35,878

Eliminated on disposal

(17,641

)

At 31 December 2018

129,638

NET BOOK VALUE

At 31 December 2018

57,962

At 31 December 2017

75,869

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

134,564

Additions

17,971

Disposals

(17,641

)

Transfer to ownership

(16,520

)

At 31 December 2018

118,374

DEPRECIATION

At 1 January 2018

61,758

Charge for year

33,149

Eliminated on disposal

(17,641

)

Transfer to ownership

(16,520

)

At 31 December 2018

60,746

NET BOOK VALUE

At 31 December 2018

57,628

At 31 December 2017

72,806

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2018

and 31 December 2018

1

NET BOOK VALUE

At 31 December 2018

1

At 31 December 2017

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

380,692

378,691

Other debtors

19,829

6,533

400,521

385,224

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

-

22,250

Hire purchase contracts (see note 9)

51,702

30,279

Trade creditors

253,264

271,404

Taxation and social security

104,298

95,132

Other creditors

67,981

79,993

477,245

499,058

The company has provided a duty deferment guarantee of £100,000 (2017: £100,000) in favour of H M Revenue

& Customs.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts (see note 9)

6,564

33,272

The hire purchase and finance lease obligations are secured on the assets to which they relate.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.18

31.12.17

£

£

Net obligations repayable:

Within one year

51,702

30,279

Between one and five years

6,564

33,272

58,266

63,551

Non-cancellable operating

leases

31.12.18

31.12.17

£

£

Between one and five years

118,000

147,500