The Vineworks Partnership Limited - Period Ending 2016-03-31

Registration number: 07846122

The Vineworks Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Robert Powell
Chartered Accountants
C2 Spinnaker House
Hempsted Lane
Gloucester
GL2 5FD

The Vineworks Partnership Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

The Vineworks Partnership Limited
(Registration number: 07846122)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					45,000			52,500
Tangible fixed assets					125,362			135,650
					170,362			188,150
Current assets
Debtors					143,538			187,514
Cash at bank and in hand					10,675			5,060
					154,213			192,574
Creditors: Amounts falling due within one year					(121,801)			(125,823)
Net current assets					32,412			66,751
Total assets less current liabilities					202,774			254,901
Creditors: Amounts falling due after more than one year					(176,578)			(183,790)
Net assets					26,196			71,111
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					26,194			71,109
Shareholders' funds					26,196			71,111

For the year ending 31 March 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 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 23 December 2016 and signed on its behalf by:

.........................................
Mr M J Garfield
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

The Vineworks Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Intangible fixed assets (including purchased goodwill) are amortised at rates calculated to write off the assets on a straight basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.

Asset class	Amortisation method and rate
Goodwill	10% straight line

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
Plant and machinery	25% reducing balance basis
Motor vehicles	25% reducing balance basis

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 2

The Vineworks Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		75,000			161,920			236,920
At 31 March 2016		75,000			161,920			236,920
Depreciation
At 1 April 2015		22,500			26,270			48,770
Charge for the year		7,500			10,288			17,788
At 31 March 2016		30,000			36,558			66,558
Net book value
At 31 March 2016		45,000			125,362			170,362
At 31 March 2015		52,500			135,650			188,150

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 3