REGISTERED NUMBER: 01836130 (England and Wales)

A & A Wines Limited

Unaudited Financial Statements for the Year Ended 31 December 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A P Bickerton

A P Connor

SECRETARY:

Mrs V Connor

REGISTERED OFFICE:

Unit 13 Manfield Park

Cranleigh

Surrey

GU6 8PT

REGISTERED NUMBER:

01836130 (England and Wales)

ACCOUNTANTS:

Hughes Waddell

The White House

2 Meadrow

Godalming

Surrey

GU7 3HN

FIXED ASSETS

Tangible assets

4

75,869

107,910

Investments

5

1

1

75,870

107,911

CURRENT ASSETS

Stocks

443,438

419,470

Debtors

6

385,224

433,240

Cash at bank

-

4,296

828,662

857,006

CREDITORS

Amounts falling due within one year

7

499,058

479,676

NET CURRENT ASSETS

329,604

377,330

TOTAL ASSETS LESS CURRENT LIABILITIES

405,474

485,241

CREDITORS

Amounts falling due after more than one year

8

(33,272

)

(63,548

)

PROVISIONS FOR LIABILITIES

(3,128

)

(6,058

)

NET ASSETS

369,074

415,635

CAPITAL AND RESERVES

Called up share capital

75,102

75,102

Retained earnings

293,972

340,533

SHAREHOLDERS' FUNDS

369,074

415,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 30 May 2018 and were signed on its behalf by:

A P Bickerton - Director

A P Connor - Director

1.	STATUTORY INFORMATION

A & A 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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 have been enacted or

substantively enacted by the balance sheet date.

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 11 (2016 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

187,270

DEPRECIATION

At 1 January 2017

79,360

Charge for year

32,041

At 31 December 2017

111,401

NET BOOK VALUE

At 31 December 2017

75,869

At 31 December 2016

107,910

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

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

134,564

DEPRECIATION

At 1 January 2017

32,528

Charge for year

29,230

At 31 December 2017

61,758

NET BOOK VALUE

At 31 December 2017

72,806

At 31 December 2016

102,036

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2017

and 31 December 2017

1

NET BOOK VALUE

At 31 December 2017

1

At 31 December 2016

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade debtors

378,691

420,329

Other debtors

6,533

12,911

385,224

433,240

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts

22,250

-

Hire purchase contracts (see note 9)

30,279

24,641

Trade creditors

271,404

261,261

Taxation and social security

95,132

119,542

Other creditors

79,993

74,232

499,058

479,676

The company has provided a duty deferment guarantee of £100,000 (2016: £100,000) in favour of H M Revenue

& Customs.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Hire purchase contracts (see note 9)

33,272

63,548

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

31.12.17

31.12.16

£

£

Net obligations repayable:

Within one year

30,279

24,641

Between one and five years

33,272

63,548

63,551

88,189

Non-cancellable operating

leases

31.12.17

31.12.16

£

£

Within one year

-

28,817

Between one and five years

147,500

-

147,500

28,817