Charlie Wines Limited - Period Ending 2016-01-31

Registration number: 06475383

Charlie Wines Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2016
 

Hughes & Co Limited
Chartered Certified Accountant
The Innovation Centre
Brunswick Street
Nelson
Lancashire
BB9 0PQ

Charlie Wines Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Charlie Wines Limited
for the Year Ended 31 January 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Charlie Wines Limited for the year ended 31 January 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Charlie Wines Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Charlie Wines Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Charlie Wines Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Charlie Wines Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Charlie Wines Limited. You consider that Charlie Wines 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 accounts of Charlie Wines 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 accounts.

......................................

Hughes & Co Limited
Chartered Certified Accountant
The Innovation Centre
Brunswick Street
Nelson
Lancashire
BB9 0PQ

27 September 2016

Page 1

Charlie Wines Limited
(Registration number: 06475383)
Abbreviated Balance Sheet at 31 January 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					1			1
Current assets
Stocks					8,956			14,647
Debtors					12,815			10,953
Cash at bank and in hand					21,171			20,771
					42,942			46,371
Creditors: Amounts falling due within one year					(13,274)			(17,421)
Net current assets					29,668			28,950
Net assets					29,669			28,951
Capital and reserves
Called up share capital		3			1			1
Profit and loss account					29,668			28,950
Shareholders' funds					29,669			28,951

For the year ending 31 January 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 27 September 2016

.........................................
Mr Raja Addieb Arshid
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Charlie Wines Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Vehicles, plant and machinery	25% straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Charlie Wines Limited
Notes to the Abbreviated Accounts for the Year Ended 31 January 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 February 2015		7,708			7,708
At 31 January 2016		7,708			7,708
Depreciation
At 1 February 2015		7,707			7,707
At 31 January 2016		7,707			7,707
Net book value
At 31 January 2016		1			1
At 31 January 2015		1			1

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1			1			1			1

Page 4