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REGISTERED NUMBER: 04185433 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

PROPHETTS SOFT DRINKS LIMITED

PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PROPHETTS SOFT DRINKS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: M Prophett
Mrs J O Prophett





SECRETARY: Mrs J O Prophett





REGISTERED OFFICE: 55 King Edward Road
Barking
Essex
IG11 7TS





REGISTERED NUMBER: 04185433 (England and Wales)





ACCOUNTANTS: Cassidys Chartered Accountants
South Stour Offices
Roman Road
Mersham
Ashford
Kent
TN25 7HS

PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,485 25,463

CURRENT ASSETS
Stocks 4,340 10,147
Debtors 5 22,654 14,533
Cash at bank and in hand 4,468 1,981
31,462 26,661
CREDITORS
Amounts falling due within one year 6 242,074 227,277
NET CURRENT LIABILITIES (210,612 ) (200,616 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(190,127

)

(175,153

)

CREDITORS
Amounts falling due after more than one year 7 24,937 40,383
NET LIABILITIES (215,064 ) (215,536 )

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings (215,066 ) (215,538 )
SHAREHOLDERS' FUNDS (215,064 ) (215,536 )

PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

BALANCE SHEET - continued
31 MARCH 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 1 October 2023 and were signed on its behalf by:





M Prophett - Director


PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Prophetts Soft Drinks 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance

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.

Going concern
During the year the company made a profit of £472 (2022: £3,247) and at the balance sheet date had net liabilities of £215,064 (2022 - £215,536). These financial statement have been prepared on a going concern basis which assumes continuing support from the company' directors and bankers.

PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 276 7,374 59,188 66,838
Additions - 142 - 142
At 31 March 2023 276 7,516 59,188 66,980
DEPRECIATION
At 1 April 2022 218 5,524 35,633 41,375
Charge for year 12 397 4,711 5,120
At 31 March 2023 230 5,921 40,344 46,495
NET BOOK VALUE
At 31 March 2023 46 1,595 18,844 20,485
At 31 March 2022 58 1,850 23,555 25,463

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 43,134
DEPRECIATION
At 1 April 2022 22,365
Charge for year 4,154
At 31 March 2023 26,519
NET BOOK VALUE
At 31 March 2023 16,615
At 31 March 2022 20,769

PROPHETTS SOFT DRINKS LIMITED (REGISTERED NUMBER: 04185433)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 22,654 13,217
Other debtors - 1,316
22,654 14,533

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,952 12,640
Hire purchase contracts 5,494 4,842
Trade creditors 37,286 42,235
Taxation and social security 1,467 -
Other creditors 187,875 167,560
242,074 227,277

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 22,435 32,387
Hire purchase contracts 2,502 7,996
24,937 40,383

Bank loans and overdrafts are secured against the company's assets, and directors personal guarantees.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary 1 2 2

9. RELATED PARTY DISCLOSURES

Mr M Prophett and Mrs J Prophett - Directors and Shareholders

At the balance sheet date Prophetts Soft Drinks Limited owed Mr and Mrs Prophett £184,149 (2022 - £163,862).

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who between them own 100% of the issued share capital.