Company Registration No. 04108541 (England and Wales)
DRINK WORKS LIMITED
Unaudited accounts
for the year ended 31 December 2023
DRINK WORKS LIMITED
Unaudited accounts
Contents
DRINK WORKS LIMITED
Company Information
for the year ended 31 December 2023
Director
Mr Leyton James Hardwick
Company Number
04108541 (England and Wales)
Registered Office
THE BARLEY MOW CENTRE 10 BARLEY MOW PASS
CHISWICK
LONDON
W4 4PH
ENGLAND
Accountants
Azoth Solutions Ltd
Jonathan Scott Hall
Thorpe Road
Norwich
Norfolk
NR1 1UH
DRINK WORKS LIMITED
Statement of financial position
as at 31 December 2023
Tangible assets
198,333
198,497
Investments
174,999
174,999
Cash at bank and in hand
104,783
11,658
Creditors: amounts falling due within one year
(3,040)
(58,050)
Net current assets
256,664
613,551
Total assets less current liabilities
629,996
987,047
Creditors: amounts falling due after more than one year
(205,000)
(239,917)
Net assets
424,996
747,130
Called up share capital
30
30
Capital contribution reserve
37
37
Profit and loss account
424,929
747,063
Shareholders' funds
424,996
747,130
For the year ending 31 December 2023 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 4 March 2024 and were signed on its behalf by
Mr Leyton James Hardwick
Director
Company Registration No. 04108541
DRINK WORKS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
DRINK WORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04108541. The registered office is THE BARLEY MOW CENTRE 10 BARLEY MOW PASS, CHISWICK, LONDON, W4 4PH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
DRINK WORKS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
192,647
303,971
496,618
At 31 December 2023
192,647
307,518
500,165
At 1 January 2023
-
298,121
298,121
Charge for the year
-
3,711
3,711
At 31 December 2023
-
301,832
301,832
At 31 December 2023
192,647
5,686
198,333
At 31 December 2022
192,647
5,850
198,497
5
Investments
Other investments
Valuation at 1 January 2023
174,999
Valuation at 31 December 2023
174,999
DRINK WORKS LIMITED
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
51,313
408,024
Deferred tax asset
69,983
16,279
Accrued income and prepayments
19,299
29,649
Other debtors
12,134
202,060
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
-
35,000
Trade creditors
(7,698)
22,875
Taxes and social security
(1,060)
(24,943)
Other creditors
11,201
9,917
Loans from directors
597
-
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
205,000
230,000
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).