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Registration number: 09633888

Calyx Drinks Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Calyx Drinks Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Calyx Drinks Ltd

(Registration number: 09633888)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

37,062

12,203

Current assets

 

Stocks

5

15,908

13,898

Debtors

6

31,463

57,716

Cash at bank and in hand

 

1,017

2,080

 

48,388

73,694

Creditors: Amounts falling due within one year

7

(248,489)

(16,621)

Net current (liabilities)/assets

 

(200,101)

57,073

Total assets less current liabilities

 

(163,039)

69,276

Creditors: Amounts falling due after more than one year

7

(35,385)

(166,550)

Net liabilities

 

(198,424)

(97,274)

Capital and reserves

 

Called up share capital

241

241

Share premium reserve

224,472

224,472

Profit and loss account

(423,137)

(321,987)

Total equity

 

(198,424)

(97,274)

 

Calyx Drinks Ltd

(Registration number: 09633888)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 May 2022
 

.........................................
Mr R A Ogunrinde
Director

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Suite 1, International House
Springhill Road
Burnley
Lancashire
BB11 2LQ

These financial statements were authorised for issue by the director on 6 May 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% per annum reducing balance basis

Motor vehicles

25% per annum reducing balance basis

Plant and machinery

25% per annum reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2020 - 3).

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Office equipment
£

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost

At 1 January 2021

2,732

-

18,931

21,663

Additions

-

4,453

30,000

34,453

At 31 December 2021

2,732

4,453

48,931

56,116

Depreciation

At 1 January 2021

1,046

-

8,414

9,460

Charge for the year

419

927

8,248

9,594

At 31 December 2021

1,465

927

16,662

19,054

Net book value

At 31 December 2021

1,267

3,526

32,269

37,062

At 31 December 2020

1,686

-

10,517

12,203

5

Stocks

2021
£

2020
£

Stocks

15,908

13,898

6

Debtors

2021
£

2020
£

Trade debtors

18,770

21,696

Prepayments

6,996

-

Other debtors

5,697

36,020

31,463

57,716

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Creditors

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

9

126,465

2,000

Trade creditors

 

63,272

10,586

Taxation and social security

 

7,604

4,035

Accruals and deferred income

 

104

-

Other creditors

 

51,044

-

 

248,489

16,621

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

9

35,385

166,550

8

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary A shares of £0.01 each

1,000

10

1,000

10

Ordinary B shares of £0.01 each

23,079

231

23,079

231

 

24,079

241

24,079

241

 

Calyx Drinks Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

35,385

38,000

Other borrowings

-

128,550

35,385

166,550

2021
£

2020
£

Current loans and borrowings

Bank borrowings

4,615

2,000

Other borrowings

121,850

-

126,465

2,000

10

Related party transactions

Transactions with the director

2021

At 1 January 2021
£

Repayments by director
£

At 31 December 2021
£

Loans to director

16,199

(16,199)

-

       
     

 

2020

At 1 January 2020
£

Advances to directors
£

Repayments by director
£

At 31 December 2020
£

Loans to director

5,164

16,199

(5,164)

16,199