Worthington Wine And Spirits UK Limited - Limited company accounts 20.1
Worthington Wine And Spirits UK Limited - Limited company accounts 20.1
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2020 |
FOR |
WORTHINGTON WINE AND SPIRITS UK LIMITED |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 29th February 2020 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Statement of Comprehensive Income | 4 |
Statement of Financial Position | 5 |
Notes to the Financial Statements | 6 |
WORTHINGTON WINE AND SPIRITS UK LIMITED |
COMPANY INFORMATION |
For The Year Ended 29th February 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
REPORT OF THE DIRECTORS |
For The Year Ended 29th February 2020 |
The directors present their report with the financial statements of the company for the year ended 29th February 2020. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of distribution of wine and spirits. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st March 2019 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
ON BEHALF OF THE BOARD: |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
WORTHINGTON WINE AND SPIRITS UK LIMITED |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
statements of Worthington Wine And Spirits UK Limited for the year ended 29th February 2020 which comprise the |
Statement of Comprehensive Income, Statement of Financial Position 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Worthington Wine And Spirits UK Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Worthington Wine And Spirits UK Limited and state those matters that we have agreed to state to the Board of Directors of Worthington Wine And Spirits UK Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Worthington Wine And Spirits UK Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Worthington Wine And Spirits UK Limited 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 Worthington Wine And Spirits UK Limited. You consider that Worthington Wine And Spirits UK Limited 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 Worthington Wine And Spirits UK Limited. 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. |
Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
STATEMENT OF COMPREHENSIVE INCOME |
For The Year Ended 29th February 2020 |
2020 | 2019 |
£ | £ |
REVENUE |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
STATEMENT OF FINANCIAL POSITION |
29th February 2020 |
2020 | 2019 |
Notes | £ | £ |
CURRENT ASSETS |
Inventories | 4 |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 29th February 2020 |
1. | STATUTORY INFORMATION |
Worthington Wine And Spirits UK Limited is a |
Wales. 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 |
Turnover |
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are |
physically delivered to the customer. |
Where payments are received from customers in advance of goods delivered, the amounts are recorded as Deferred |
Income and included as part of Creditors due within one year. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement |
of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange |
ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2019 - NIL). |
4. | INVENTORIES |
2020 | 2019 |
£ | £ |
Stocks |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
WORTHINGTON WINE AND SPIRITS UK LIMITED (REGISTERED NUMBE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 29th February 2020 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
Tax |
Directors' current accounts | 198 | 198 |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1st March 2019 |
Profit for the year |
At 29th February 2020 |
9. | RELATED PARTY DISCLOSURES |
During the year the company purchased goods amounting to £68,482 (2019 £16,509) from Gravel Junction (Pty) |
Limited a company in which Mr J V Hooper has a controlling interest. These goods were purchased on an arm's |
length basis. |
At the year end the Gravel Junction (Pty) Limited owed £66,440 (2019 £25,009 ) to the company. |
This loan is non interest bearing, long term in nature and repayable on demand. |
Included under creditors falling due within one year is an amount due to Mr J V Hooper the director, of £198 (2019 |
- £198). |
This loan is interest free, unsecured and of no fixed term and repayable on demand. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mr J V Hooper. |