L.A. DRINKS COMPANY LIMITED

Company Registration Number:
NI029775 (Northern Ireland)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

L.A. DRINKS COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

L.A. DRINKS COMPANY LIMITED

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Intangible assets: 3 17,500 35,000
Tangible assets: 4 442,017 429,399
Total fixed assets: 459,517 464,399
Current assets
Stocks: 944,397 723,874
Debtors:   1,775,159 1,905,650
Cash at bank and in hand: 462,771 781,696
Total current assets: 3,182,327 3,411,220
Creditors: amounts falling due within one year:   (1,912,103) (1,839,581)
Net current assets (liabilities): 1,270,224 1,571,639
Total assets less current liabilities: 1,729,741 2,036,038
Creditors: amounts falling due after more than one year:   (23,981) (253,481)
Provision for liabilities: (6,562) (1,954)
Total net assets (liabilities): 1,699,198 1,780,603
Capital and reserves
Called up share capital: 90 90
Other reserves: 10 10
Profit and loss account: 1,699,098 1,780,503
Shareholders funds: 1,699,198 1,780,603

The notes form part of these financial statements

L.A. DRINKS COMPANY LIMITED

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 07 November 2023
and signed on behalf of the board by:

Name: Elaine McCaughley
Status: Director

The notes form part of these financial statements

L.A. DRINKS COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible fixed assets and depreciation policy

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:Land and buildings freehold 0% Plant and machinery 10% Straight LineFixtures, fittings and equipment 15% Straight LineMotor vehicles 25% Straight LineThe carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Intangible fixed assets and amortisation policy

LicencesLicences are valued at cost less accumulated amortisation.Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 10 years.GoodwillPurchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise. On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

L.A. DRINKS COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 23 22

L.A. DRINKS COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Intangible Assets

Total
Cost £
At 01 August 2022 175,000
At 31 July 2023 175,000
Amortisation
At 01 August 2022 140,000
Charge for year 17,500
At 31 July 2023 157,500
Net book value
At 31 July 2023 17,500
At 31 July 2022 35,000

L.A. DRINKS COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Tangible Assets

Total
Cost £
At 01 August 2022 879,698
Additions 34,210
Disposals (26,572)
At 31 July 2023 887,336
Depreciation
At 01 August 2022 450,299
Charge for year 21,592
On disposals (26,572)
At 31 July 2023 445,319
Net book value
At 31 July 2023 442,017
At 31 July 2022 429,399