Edwards Beers and Wine Supplies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07090162 (England and Wales)

Audited Financial Statements for the Year Ended 30 June 2019

for

Edwards Beers and Wine Supplies Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Edwards

T R Edwards

G Edwards

SECRETARY:

Mrs S Edwards

REGISTERED OFFICE:

Unit 5 Grovebury Place Grovebury Road

Leighton Buzzard

Bedfordshire

LU7 4SH

REGISTERED NUMBER:

07090162 (England and Wales)

SENIOR STATUTORY AUDITOR:

V R Thayalan

AUDITORS:

Lawrence Grant

Chartered Accountants

and Statutory Auditor

2nd Floor

Hygeia House

66 College Road

Harrow

Middlesex

HA1 1BE

FIXED ASSETS

Tangible assets

4

120,769

172,897

Investments

5

10,460

10,460

131,229

183,357

CURRENT ASSETS

Stocks

1,361,283

1,215,439

Debtors

6

1,393,089

1,572,239

Cash at bank

304,637

199,443

3,059,009

2,987,121

CREDITORS

Amounts falling due within one year

7

1,724,966

1,756,514

NET CURRENT ASSETS

1,334,043

1,230,607

TOTAL ASSETS LESS CURRENT LIABILITIES

1,465,272

1,413,964

CREDITORS

Amounts falling due after more than one year

8

(6,018

)

(26,574

)

PROVISIONS FOR LIABILITIES

(21,222

)

(30,987

)

NET ASSETS

1,438,032

1,356,403

CAPITAL AND RESERVES

Called up share capital

1

1

Other reserves

894,393

894,393

Retained earnings

543,638

462,009

1,438,032

1,356,403

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 on 11 December 2019 and were signed on its behalf by:

T R Edwards - Director

1.	STATUTORY INFORMATION

Edwards Beers and Wine Supplies 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.

Judgements

No significant judgements have had to be made by the directors in preparing these financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% reducing balance

Fixtures and fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

25% 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.

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 statement of financial position date.

Deferred tax

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

statement of financial position 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 income statement 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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual

arrangements as either financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Fixed asset investments

Investments are stated at cost less any provision for impairment.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2018 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2018

14,372

35,947

389,494

11,314

451,127

Additions

-

-

-

2,172

2,172

Disposals

-

-

(78,950

)

-

(78,950

)

At 30 June 2019

14,372

35,947

310,544

13,486

374,349

DEPRECIATION

At 1 July 2018

10,811

22,915

238,130

6,374

278,230

Charge for year

890

3,258

28,556

1,300

34,004

Eliminated on disposal

-

-

(58,654

)

-

(58,654

)

At 30 June 2019

11,701

26,173

208,032

7,674

253,580

NET BOOK VALUE

At 30 June 2019

2,671

9,774

102,512

5,812

120,769

At 30 June 2018

3,561

13,032

151,364

4,940

172,897

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

Motor

vehicles

£

COST

At 1 July 2018

270,865

Disposals

(78,950

)

At 30 June 2019

191,915

DEPRECIATION

At 1 July 2018

182,997

Charge for year

16,893

Eliminated on disposal

(58,654

)

At 30 June 2019

141,236

NET BOOK VALUE

At 30 June 2019

50,679

At 30 June 2018

87,868

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2018

and 30 June 2019

10,460

NET BOOK VALUE

At 30 June 2019

10,460

At 30 June 2018

10,460

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,170,617

1,251,956

Amounts owed by related undertakings

-

15,407

Other debtors

222,472

304,876

1,393,089

1,572,239

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

20,481

35,268

Trade creditors

1,325,208

1,104,191

Amounts owed to related undertakings

167,132

31,272

Taxation and social security

126,653

390,228

Other creditors

85,492

195,555

1,724,966

1,756,514

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Hire purchase contracts (see note 9)

6,018

26,574

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2019

2018

£

£

Net obligations repayable:

Within one year

20,481

35,268

Between one and five years

6,018

26,574

26,499

61,842

Non-cancellable operating

leases

2019

2018

£

£

Within one year

48,274

55,739

Between one and five years

20,120

52,620

68,394

108,359

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

V R Thayalan (Senior Statutory Auditor)

for and on behalf of Lawrence Grant

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £1,320 were paid to the directors .

As at the year end date, the company owed £30,000 (2018: £31,272) to Edwards Beers and Wines (Holdings)

Limited, a company under common control.

As at the year end date, the company owed £137,132 (2018: Dr £15,407) to Edwards Beers and Minerals

Limited, a company under common control.

As at the year end date, the directors Mr T R Edwards and Mrs S Edwards were owed £17,592 (2018: nil) by

the company. This amount is included within other creditors due within one year.