Journeys End Vineyards Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10910475 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1ST SEPTEMBER 2019 TO 30TH JUNE 2020

FOR

JOURNEYS END VINEYARDS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr H R Gabb

REGISTERED OFFICE:

8 Lower Mall

London

W6 9DJ

REGISTERED NUMBER:

10910475 (England and Wales)

ACCOUNTANTS:

Stanton Ralph & Co Limited

Chartered Accountants

The Old Police Station

Whitburn Street

Bridgnorth

Shropshire

WV16 4QP

FIXED ASSETS

4,711

Tangible assets

4

3,769

CURRENT ASSETS

-

Stocks

8,511

325,461

Debtors

5

1,702,759

4,613

Cash at bank

451,083

330,074

2,162,353

CREDITORS

274,464

Amounts falling due within one year

6

1,661,566

55,610

NET CURRENT ASSETS

500,787

60,321

TOTAL ASSETS LESS CURRENT LIABILITIES

504,556

CAPITAL AND RESERVES

10

Called up share capital

10

60,311

Retained earnings

504,546

60,321

504,556

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30th June 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30th June 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 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 director and authorised for issue on 12th May 2021 and were signed by:

Mr H R Gabb - Director

1.	STATUTORY INFORMATION

Journeys End Vineyards Ltd 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 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.

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st September 2019

and 30th June 2020

6,339

DEPRECIATION

At 1st September 2019

1,628

Charge for period

942

At 30th June 2020

2,570

NET BOOK VALUE

At 30th June 2020

3,769

At 31st August 2019

4,711

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

Plant and

machinery

etc

£

COST

At 1st September 2019

and 30th June 2020

1,600

NET BOOK VALUE

At 30th June 2020

1,600

At 31st August 2019

1,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

31.8.19

£

£

Trade debtors

1,448,944

143,568

Amounts owed by group undertakings

164,700

150,000

Other debtors

89,115

31,893

1,702,759

325,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

31.8.19

£

£

Trade creditors

1,087,740

60,216

Amounts owed to associates

175,000

175,000

Taxation and social security

390,839

35,763

Other creditors

7,987

3,485

1,661,566

274,464

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30th June 2020 and the year ended 31st August 2019:

30.6.20

31.8.19

£

£

Mr H R Gabb

Balance outstanding at start of period

30,986

4,860

Amounts advanced

58,129

55,842

Amounts repaid

-

(29,716

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

89,115

30,986

No interest is charged.