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REGISTERED NUMBER: 05038595 (England and Wales)












Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Pembrokeshire Drinks Limited

Pembrokeshire Drinks Limited (Registered number: 05038595)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Pembrokeshire Drinks Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: P J Kidney





SECRETARY: Mrs M Kidney





REGISTERED OFFICE: Williamston House
7 Goat Street
HAVERFORDWEST
Pembrokeshire
SA61 1PX





REGISTERED NUMBER: 05038595 (England and Wales)

Pembrokeshire Drinks Limited (Registered number: 05038595)

Abridged Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 6,437 12,233
6,437 12,233

CURRENT ASSETS
Stocks 4,100 4,100
Debtors 87,185 83,386
Cash at bank and in hand 35,644 10,040
126,929 97,526
CREDITORS
Amounts falling due within one year 84,419 76,677
NET CURRENT ASSETS 42,510 20,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,947

33,082

CREDITORS
Amounts falling due after more than one year (26,732 ) (36,018 )

PROVISIONS FOR LIABILITIES (1,223 ) (2,324 )
NET ASSETS/(LIABILITIES) 20,992 (5,260 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 20,990 (5,262 )
SHAREHOLDERS' FUNDS 20,992 (5,260 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pembrokeshire Drinks Limited (Registered number: 05038595)

Abridged Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 28 February 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2023 and were signed by:





P J Kidney - Director


Pembrokeshire Drinks Limited (Registered number: 05038595)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Pembrokeshire 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.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 15% on reducing balance
Motor vehicles - 25% 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Pembrokeshire Drinks Limited (Registered number: 05038595)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022
and 28 February 2023 11,000
AMORTISATION
At 1 March 2022
and 28 February 2023 11,000
NET BOOK VALUE

At 28 February 2023 -
At 28 February 2022 -

Pembrokeshire Drinks Limited (Registered number: 05038595)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2022 26,600
Disposals (6,000 )
At 28 February 2023 20,600
DEPRECIATION
At 1 March 2022 14,367
Charge for year 1,678
Eliminated on disposal (1,882 )
At 28 February 2023 14,163
NET BOOK VALUE
At 28 February 2023 6,437
At 28 February 2022 12,233

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 March 2022
and 28 February 2023 12,600
DEPRECIATION
At 1 March 2022 7,857
Charge for year 1,172
At 28 February 2023 9,029
NET BOOK VALUE
At 28 February 2023 3,571
At 28 February 2022 4,743

Pembrokeshire Drinks Limited (Registered number: 05038595)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28 February 2023 and 28 February 2022:

28.2.23 28.2.22
£    £   
P J Kidney
Balance outstanding at start of year 60,996 17,857
Amounts advanced 53,603 77,561
Amounts repaid (58,626 ) (34,422 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 55,973 60,996

Interest has been paid on the overdrawn directors loan account at HMRC's agreed rate.