Erik Laan Fine Wines Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04768821 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

Erik Laan Fine Wines Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

CE Laan

Mrs A J Laan

R Devitt

F Dudley

SECRETARY:

Mrs A J Laan

REGISTERED OFFICE:

15 Gatwick Metro Centre

Balcombe Road

Horley

Surrey

RH6 9GA

REGISTERED NUMBER:

04768821 (England and Wales)

ACCOUNTANTS:

McDermott & Co

Unit 111, The Light Bulb

1 Filament Walk

London

SW18 4GQ

FIXED ASSETS

Tangible assets

4

29,886

28,871

CURRENT ASSETS

Stocks

235,292

294,220

Debtors

206,877

154,918

Cash at bank and in hand

355

9,208

442,524

458,346

CREDITORS

Amounts falling due within one year

639,479

632,044

NET CURRENT LIABILITIES

(196,955

)

(173,698

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(167,069

)

(144,827

)

CREDITORS

Amounts falling due after more than one year

27,306

82,480

NET LIABILITIES

(194,375

)

(227,307

)

CAPITAL AND RESERVES

Called up share capital

150

150

Share premium

17,493

17,493

Retained earnings

(212,018

)

(244,950

)

SHAREHOLDERS' FUNDS

(194,375

)

(227,307

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 June 2018 and were signed on its behalf by:

CE Laan - Director

1.	STATUTORY INFORMATION

Erik Laan Fine Wines Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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 profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2016

93,411

Additions

12,915

At 30 June 2017

106,326

DEPRECIATION

At 1 July 2016

64,540

Charge for year

11,900

At 30 June 2017

76,440

NET BOOK VALUE

At 30 June 2017

29,886

At 30 June 2016

28,871

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 July 2016

22,840

Additions

10,500

At 30 June 2017

33,340

DEPRECIATION

At 1 July 2016

13,184

Charge for year

5,638

At 30 June 2017

18,822

NET BOOK VALUE

At 30 June 2017

14,518

At 30 June 2016

9,656

The net book value of motor vehicles includes £14,518 (2016 £9,656) in respect of assets held under hire

purchase. The amount of depreciation in respect of such assets amounted to £18,822 (2016 £13,184).

5.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Bank overdrafts

7,855

9,171

The bank overdraft is secured on property owned by the directors.

6.	RELATED PARTY DISCLOSURES

7.	ULTIMATE CONTROLLING PARTY

The controlling party is CE Laan.