Abbreviated Company Accounts - DRINKS CELLAR LIMITED

DRINKS CELLAR LIMITED - Company Information

SC043854 DRINKS CELLAR LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true SC043854 2013-04-01 2014-03-31 SC043854 2014-03-31 SC043854 2013-03-31 SC043854 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 SC043854 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number SC043854

DRINKS CELLAR LIMITED

Abbreviated Accounts

31 March 2014

DRINKS CELLAR LIMITED Registered Number SC043854

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	2	80,000	80,000
Tangible assets	3	263,790	268,849
		343,790	348,849
Current assets
Stocks		100,400	94,800
Debtors		4,020	170,400
Cash at bank and in hand		71,616	7,619
		176,036	272,819
Creditors: amounts falling due within one year		(220,001)	(229,526)
Net current assets (liabilities)		(43,965)	43,293
Total assets less current liabilities		299,825	392,142
Total net assets (liabilities)		299,825	392,142
Capital and reserves
Called up share capital	4	13,000	13,000
Profit and loss account		286,825	379,142
Shareholders' funds		299,825	392,142

For the year ending 31 March 2014 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 directors acknowledge their 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 Board on 19 September 2014

And signed on their behalf by:
W. Ritchie, Director
J.S. Cochrane, Director

DRINKS CELLAR LIMITED Registered Number SC043854

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 15% on reducing balance
Fixtures & Fittings - 10% on reducing balance
Motor Vehicles - 25% on reducing balance.

No depreciation is charged on freehold properties on the basis that the properties have a long expected economic life, are well maintained and have high residual values. As a result it is believed that depreciating the freehold properties would not provide a true and fair view of the financial statements. The properties are subject to an annual impairment review.

Intangible assets amortisation policy
Goodwill paid on the acquisition of the shops has not been depreciated on the basis that it has an indefinite useful economic life. The Directors believe that depreciating goodwill will not provide a tru and fair view of the financial statements as this does not reflect the ongoing business development. Goodwill is subject to an annual impairment review by the Directors.

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2Intangible fixed assets

	£
Cost
At 1 April 2013	80,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	80,000
Amortisation
At 1 April 2013	-
Charge for the year	-
On disposals	-
At 31 March 2014	-
Net book values
At 31 March 2014	80,000
At 31 March 2013	80,000

3Tangible fixed assets

	£
Cost
At 1 April 2013	492,736
Additions	26,026
Disposals	(11,100)
Revaluations	-
Transfers	-
At 31 March 2014	507,662
Depreciation
At 1 April 2013	223,887
Charge for the year	27,573
On disposals	(7,588)
At 31 March 2014	243,872
Net book values
At 31 March 2014	263,790
At 31 March 2013	268,849

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
13,000 Ordinary shares of £1 each	13,000	13,000