ANTHONY BYRNE FINE WINES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A E Byrne

Mrs R Byrne

SECRETARY:

Mrs R Byrne

REGISTERED OFFICE:

Ramsey Business Park

Stocking Fen Road

Ramsey

Cambridgeshire

PE26 2UR

REGISTERED NUMBER:

01713692 (England and Wales)

SENIOR STATUTORY AUDITOR:

T J HAWES FCA

AUDITORS:

HMJT

Registered Auditors

Federation House

36/38 Rockingham Road

Kettering

Northamptonshire

NN16 8JS

FIXED ASSETS

Tangible assets

5

700,491

749,447

Investment property

6

1,625,000

1,625,000

2,325,491

2,374,447

CURRENT ASSETS

Stocks

1,103,220

1,028,259

Debtors

7

430,604

552,271

Cash at bank

2,278,872

1,993,293

3,812,696

3,573,823

CREDITORS

Amounts falling due within one year

8

823,441

836,972

NET CURRENT ASSETS

2,989,255

2,736,851

TOTAL ASSETS LESS CURRENT LIABILITIES

5,314,746

5,111,298

PROVISIONS FOR LIABILITIES

157,526

162,594

NET ASSETS

5,157,220

4,948,704

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

564,962

509,808

Fair value reserve

704,703

698,074

Retained earnings

3,886,555

3,739,822

SHAREHOLDERS' FUNDS

5,157,220

4,948,704

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 19th September 2017 and were signed on its behalf by:

A E Byrne - Director

Mrs R Byrne - Director

1.	STATUTORY INFORMATION

Anthony Byrne 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Land and buildings

-

2% on cost

Furniture and equipment

-

at varying rates on cost

Motor vehicles

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at the lower of cost 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

5.	TANGIBLE FIXED ASSETS

Furniture

Land and

and

Motor

buildings

equipment

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1st April 2016

718,595

554,001

142,187

1,414,783

Additions

-

986

-

986

Disposals

(73,595

)

-

-

(73,595

)

Revaluations

65,000

-

-

65,000

At 31st March 2017

710,000

554,987

142,187

1,407,174

DEPRECIATION

At 1st April 2016

62,192

531,353

71,791

665,336

Charge for year

11,572

10,390

35,546

57,508

Eliminated on disposal

(16,161

)

-

-

(16,161

)

At 31st March 2017

57,603

541,743

107,337

706,683

NET BOOK VALUE

At 31st March 2017

652,397

13,244

34,850

700,491

At 31st March 2016

656,403

22,648

70,396

749,447

Included in cost or valuation of land and buildings is freehold land of £ 140,000 (2016 - £ 140,000 )

which is not depreciated.

Freehold land and buildings were revalued on an open market basis on 31st March 2017 by Barker

Storey Matthews and this has now been adopted as deemed cost under FRS 102.

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2016

and 31st March 2017

1,625,000

NET BOOK VALUE

At 31st March 2017

1,625,000

At 31st March 2016

1,625,000

Fair value at 31st March 2017 is represented by:

£

Valuation in 2017

1,625,000

If the investment property had not been revalued it would have been included at the following historical

cost:

2017

2016

£

£

Cost

808,388

808,388

The investment property was valued on a fair value basis on 31st March 2017 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

391,312

507,183

Other debtors

39,292

45,088

430,604

552,271

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

188,956

308,302

Taxation and social security

450,035

167,728

Other creditors

184,450

360,942

823,441

836,972

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

T J HAWES FCA (Senior Statutory Auditor)

for and on behalf of HMJT

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £9,740 (2016 - £10,000) were paid to the directors .