Erik Laan Fine Wines Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04768821 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 June 2014

for

Erik Laan Fine Wines Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

CE Laan

Mrs A J Laan

R D Devitt

SECRETARY:

Mrs A J Laan

REGISTERED OFFICE:

14 Hartington Close

Reigate

Surrey

RH2 9NL

REGISTERED NUMBER:

04768821 (England and Wales)

ACCOUNTANTS:

McDermott & Co

Chartered Accountants

1 Hardwick's Square

London

SW18 4AW

FIXED ASSETS

Tangible assets

2

6,566

8,854

CURRENT ASSETS

Stocks

190,691

148,779

Debtors

127,018

101,572

Cash at bank and in hand

193

120

317,902

250,471

CREDITORS

Amounts falling due within one year

3

469,509

439,815

NET CURRENT LIABILITIES

(151,607

)

(189,344

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(145,041

)

(180,490

)

CREDITORS

Amounts falling due after more than one year

75,805

84,120

NET LIABILITIES

(220,846

)

(264,610

)

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

(220,946

)

(264,710

)

SHAREHOLDERS' FUNDS

(220,846

)

(264,610

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 September 2014 and were signed on its behalf by:

CE Laan - 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

25% on cost

Stocks

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

moving items.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

64,544

Additions

1,257

At 30 June 2014

65,801

DEPRECIATION

At 1 July 2013

55,690

Charge for year

3,545

At 30 June 2014

59,235

NET BOOK VALUE

At 30 June 2014

6,566

At 30 June 2013

8,854

3.

CREDITORS

Creditors include an amount of £ 24,960 (30.6.13 - £ 30,292 ) for which security has been given.

They also include the following debts falling due in more than five years:

30.6.14

30.6.13

£

£

Repayable by instalments

34,931

50,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

100

Ordinary

£1

100

100

5.	GOING CONCERN

6.	CREDITORS AMOUNTS FALLING DUE WITHIN ONE YEAR

Included within creditors is £33,353 due under an invoice factoring agreement secured on the trade debtors of

the company .RBS Invoice Finance Limited holds a fixed and floating charge secured on all assets of the

business.