A & A Wines Limited - Accounts to registrar - small 17.1.1
A & A Wines Limited - Accounts to registrar - small 17.1.1
| REGISTERED NUMBER: |
| A & A Wines Limited |
| Unaudited Financial Statements for the Year Ended 31 December 2016 |
| A & A Wines Limited (Registered number: 01836130) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| A & A Wines Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The White House |
| 2 Meadrow |
| Godalming |
| Surrey |
| GU7 3HN |
| A & A Wines Limited (Registered number: 01836130) |
| Balance Sheet |
| 31 December 2016 |
| 31.12.16 | 31.12.15 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| A & A Wines Limited (Registered number: 01836130) |
| Balance Sheet - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| A & A Wines Limited (Registered number: 01836130) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| A & A Wines Limited is a |
| 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 |
| Preparation of consolidated financial statements |
| The financial statements contain information about A & A Wines Limited as an individual company and do not contain |
| consolidated financial information as the parent of a group. The company has taken the option under Section 398 of the |
| Companies Act 2006 not to prepare consolidated financial statements. |
| Turnover |
| Turnover represents sales of wine and food during the year, excluding value added tax. |
| Turnover is recognised on delivery of goods. |
| Tangible fixed assets |
| Depreciation is provided at the following rates in order to write off the cost less residual value of each asset over its |
| estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. |
| Furniture & equipment | - | 25% on cost |
| Motor vehicles | - | 25% on cost |
| Computer equipment | - | 33.3% on cost |
| Hire purchase motor vehicles - over the term of the hire purchase agreement taking into account the |
| balloon payment payable at the end of the agreement. |
| The cost of tangible fixed assets includes only expenditure directly incurred in bringing the assets into working condition |
| for their intended use. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| Stocks |
| Stock is valued at the lower of purchase price including delivery and import taxes and net realisable value, after making due |
| allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year 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 that have been enacted or |
| substantively enacted by the balance sheet date. |
| A & A Wines Limited (Registered number: 01836130) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 year 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. |
| Foreign currencies |
| Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance |
| sheet date. During the year transactions in foreign currencies are translated into sterling at an average rate set by the |
| directors. Exchange differences are taken into account in arriving at the gross profit. |
| Hire purchase and rent leasing commitments |
| Assets obtained under hire purchase contracts are capitalised in the balance sheet. 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. |
| Operating lease rentals are charged to the profit and loss account evenly over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company makes contributions on behalf of one of the directors to his individual pension scheme. Pension scheme |
| contributions are charged to the profit and loss account in the period to which they relate. |
| Fixed asset investments |
| Fixed asset investments are stated at cost less any provisions required where there has been a permanent diminution in their |
| value. Profits or losses arising from disposal of fixed asset investments are treated as part of the result from ordinary |
| activities. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| A & A Wines Limited (Registered number: 01836130) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Furniture | Motor | Computer |
| & equipment | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Motor |
| vehicles |
| £ |
| COST |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| A & A Wines Limited (Registered number: 01836130) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2016 |
| and 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| The company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Registered office: |
| Nature of business: |
| % |
| Class of shares: | holding |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments and accrued income |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| VAT | 79,494 | 65,600 |
| Other creditors |
| Accruals and deferred income |
| The company has provided a duty deferment guarantee of £100,000 (2015: £100,000) in favour of H M Revenue & |
| Customs. |
| A & A Wines Limited (Registered number: 01836130) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Hire purchase contracts (see note 9) |
| The hire purchase and finance lease obligations are secured on the assets to which they relate. |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase contracts |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable operating |
| leases |
| 31.12.16 | 31.12.15 |
| £ | £ |
| Within one year |
| Between one and five years |
| 10. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £145,600 were paid to the directors and their wives. |