Company Registration No. 09424420 (England and Wales)
LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
BALANCE SHEET
AS AT
28 FEBRUARY 2023
28 February 2023
1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
2,340
2,857
Investments
4
100
100
2,440
2,957
Current assets
Stocks
3,004
3,998
Debtors
5
10,672
3,305
Cash at bank and in hand
-
0
4,491
13,676
11,794
Creditors: amounts falling due within one year
6
(109,162)
(101,377)
Net current liabilities
(95,486)
(89,583)
Total assets less current liabilities
(93,046)
(86,626)
Creditors: amounts falling due after more than one year
7
(6,053)
(8,612)
Net liabilities
(99,099)
(95,238)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(99,100)
(95,239)
Total equity
(99,099)
(95,238)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
BALANCE SHEET (CONTINUED)
AS AT
28 FEBRUARY 2023
28 February 2023
2

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

The financial statements were approved and signed by the director and authorised for issue on 27 November 2023
Mr CA Beech
Director
Company Registration No. 09424420
LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
3
1
Accounting policies
Company information

LUHV Drinks Limited (formerly LUHV Limited) is a private company limited by shares incorporated in England and Wales. The registered office is 7 Bournemouth Road, Chandler's Ford, Eastleigh, Hampshire, SO53 3DA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The director considers that it is appropriate to prepare the accounts on a going concern basis as they are of the belief that the future trading of the company will restore the balance sheet to a solvent position. The director intends to continue his financial support of the company for at least 12 months from the date of approving the accounts.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% straight line
Computer equipment
25%/33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
1
Accounting policies (Continued)
4
1.5
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2022
11,043
Additions
1,315
Disposals
(1,285)
At 28 February 2023
11,073
Depreciation
At 1 March 2022
8,186
Depreciation charged in the year
1,272
Eliminated in respect of disposals
(725)
At 28 February 2023
8,733
Carrying amount
At 28 February 2023
2,340
At 28 February 2022
2,857
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings
100
100
LUHV DRINKS LIMITED (FORMERLY LUHV LIMITED)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
4
Fixed asset investments (Continued)
6

The investment represents 100,000 Ordinary £0.001 shares held in VHUL Limited, a wholly owned subsidiary. VHUL Limited remained dormant throughout the year.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
8,856
3,021
Amounts owed by group undertakings
-
0
47
Other debtors
1,816
237
10,672
3,305
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
3,887
1,581
Trade creditors
-
0
455
Other creditors
105,275
99,341
109,162
101,377
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
6,053
8,612
2023-02-282022-03-01false27 November 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr CA Beech094244202022-03-012023-02-28094244202023-02-28094244202022-02-2809424420core:OtherPropertyPlantEquipment2023-02-2809424420core:OtherPropertyPlantEquipment2022-02-2809424420core:CurrentFinancialInstrumentscore:WithinOneYear2023-02-2809424420core:CurrentFinancialInstrumentscore:WithinOneYear2022-02-2809424420core:CurrentFinancialInstruments2023-02-2809424420core:CurrentFinancialInstruments2022-02-2809424420core:Non-currentFinancialInstruments2023-02-2809424420core:Non-currentFinancialInstruments2022-02-2809424420core:ShareCapital2023-02-2809424420core:ShareCapital2022-02-2809424420core:RetainedEarningsAccumulatedLosses2023-02-2809424420core:RetainedEarningsAccumulatedLosses2022-02-2809424420bus:Director12022-03-012023-02-2809424420core:PlantMachinery2022-03-012023-02-2809424420core:FurnitureFittings2022-03-012023-02-2809424420core:ComputerEquipment2022-03-012023-02-2809424420core:OtherPropertyPlantEquipment2022-02-2809424420core:OtherPropertyPlantEquipment2022-03-012023-02-2809424420core:WithinOneYear2023-02-2809424420core:WithinOneYear2022-02-2809424420bus:PrivateLimitedCompanyLtd2022-03-012023-02-2809424420bus:SmallCompaniesRegimeForAccounts2022-03-012023-02-2809424420bus:FRS1022022-03-012023-02-2809424420bus:AuditExemptWithAccountantsReport2022-03-012023-02-2809424420bus:FullAccounts2022-03-012023-02-28xbrli:purexbrli:sharesiso4217:GBP