Company No:
Contents
Note | 2023 | |
£ | ||
Fixed assets | ||
Investments | 3 |
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2 | ||
Current assets | ||
Debtors | ||
- due after more than one year | 4 |
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70,078 | ||
Net current assets | 70,078 | |
Total assets less current liabilities | 70,080 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 5 |
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Share premium account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Devon Liquor Company Limited (registered number:
D Seear
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.
Devon Liquor Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2023 | |
Number | |
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 March 2022 | 0 |
Additions |
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At 28 February 2023 |
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Carrying value at 28 February 2023 |
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Investments in shares
Name of entity | Registered office | Nature of business | Class of shares |
Ownership 28.02.2023 |
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2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS | Rum distilling and wholesale |
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2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS | Tequila distilling and wholesale |
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2023 | |
£ | |
Debtors: amounts falling due after more than one year | |
Amounts owed by own subsidiaries |
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Other debtors |
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2023 | |
£ | |
Allotted, called-up and fully-paid | |
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In the financial year 2023 100 Ordinary shares were allotted with an aggregate nominal value of £100 and consideration of £70,000 was received.