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REGISTERED NUMBER: 00911202 (England and Wales)














Financial Statements

for the Year Ended 31st March 2018

for

The Merchant Vintners Company Limited

The Merchant Vintners Company Limited (Registered number: 00911202)






Contents of the Financial Statements
for the year ended 31st March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Merchant Vintners Company Limited

Company Information
for the year ended 31st March 2018







DIRECTORS: J.J. Eustace
J.J. Tanner
J.C. Townend
N. Hillman
A.A. Cleary
Mrs M.E. Trease


SECRETARY: J.P. Robson


REGISTERED OFFICE: c/o House of Townend
Wyke Way
Melton West Industrial Estate
Melton
East Yorkshire
HU14 3BQ


REGISTERED NUMBER: 00911202 (England and Wales)


AUDITORS: cbaSadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX


BANKERS: HSBC PLC
3-4 Jameson Street
Hull
East Yorkshire
HU1 3JX


SOLICITORS: Andrew Jackson
Marina Court
Castle Street
Hull
East Yorkshire
HU1 1TJ

The Merchant Vintners Company Limited (Registered number: 00911202)

Balance Sheet
31st March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 716 1,188

CURRENT ASSETS
Stocks 1,597,689 1,842,871
Debtors 5 534,738 522,811
Cash at bank and in hand 165,025 168,051
2,297,452 2,533,733
CREDITORS
Amounts falling due within one year 6 1,290,847 1,529,311
NET CURRENT ASSETS 1,006,605 1,004,422
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,007,321

1,005,610

CREDITORS
Amounts falling due after more than one
year

7

(311,915

)

(340,437

)

PROVISIONS FOR LIABILITIES 9 (136 ) (226 )
NET ASSETS 695,270 664,947

CAPITAL AND RESERVES
Called up share capital 10 40,000 40,000
Capital redemption reserve 17,000 17,000
Retained earnings 638,270 607,947
SHAREHOLDERS' FUNDS 695,270 664,947

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 15th August 2018 and were signed on its behalf
by:




J.J. Tanner - Director



J.C. Townend - Director


The Merchant Vintners Company Limited (Registered number: 00911202)

Notes to the Financial Statements
for the year ended 31st March 2018

1. STATUTORY INFORMATION

The Merchant Vintners Company 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 is the amount derived from ordinary activities, and stated after trade discounts, other sales taxes and
net of VAT. Turnover is recognised when the goods have been dispatched.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Stocks
Stock is valued at the lower of the average cost and net realisable value. The average cost is calculated by
including all direct expenditure and a proportion of fixed and variable overheads. The average cost is updated
upon delivery of each order.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

The Merchant Vintners Company Limited (Registered number: 00911202)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2017
and 31st March 2018 12,305
DEPRECIATION
At 1st April 2017 11,117
Charge for year 472
At 31st March 2018 11,589
NET BOOK VALUE
At 31st March 2018 716
At 31st March 2017 1,188

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 503,062 502,969
Other debtors 14,429 15,178
Prepayments 17,247 4,664
534,738 522,811

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 261,455 667,398
Trade creditors 861,520 726,338
Taxation 7,484 5,325
Other creditors 52,891 45,993
Accrued expenses 107,497 84,257
1,290,847 1,529,311

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Shareholders' unsecured loans 71,915 85,437
3% Convertible loan stock 240,000 255,000
311,915 340,437

The Merchant Vintners Company Limited (Registered number: 00911202)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2018 2017
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Shareholders' unsecured loans 71,915 85,437
3% Convertible loan stock 240,000 255,000
311,915 340,437

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank overdrafts 261,455 667,398

The bank overdraft is secured by a debenture including fixed and floating charges over the assets of the
company.

9. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Deferred tax
Accelerated capital allowances 136 226

Deferred
tax
£   
Balance at 1st April 2017 226
Credit to Statement of Comprehensive Income during year (90 )
Balance at 31st March 2018 136

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2018 2017
value: £    £   
40,000 Ordinary £1 40,000 40,000

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

The Report of the Auditors was unqualified.

Alan Brocklehurst (Senior Statutory Auditor)
for and on behalf of cbaSadofskys

The Merchant Vintners Company Limited (Registered number: 00911202)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

12. RELATED PARTY DISCLOSURES

The turnover of the company arises mainly from sales to its members. The directors of the company are also the
directors of some of the member companies to whom sales are made. All sales are made on normal commercial
terms.

Rebates accruing to the company's members for the year amounted to £37,000 (2017 - £8,000).