Silverfin false 30/04/2023 01/05/2022 30/04/2023 Mr M Crump 31 January 2024 The principal activity of the company is the production, marketing and distribution of spirits. 07771324 2023-04-30 07771324 2022-04-30 07771324 core:CurrentFinancialInstruments 2023-04-30 07771324 core:CurrentFinancialInstruments 2022-04-30 07771324 core:Non-currentFinancialInstruments 2023-04-30 07771324 core:Non-currentFinancialInstruments 2022-04-30 07771324 core:ShareCapital 2023-04-30 07771324 core:ShareCapital 2022-04-30 07771324 core:SharePremium 2023-04-30 07771324 core:SharePremium 2022-04-30 07771324 core:RetainedEarningsAccumulatedLosses 2023-04-30 07771324 core:RetainedEarningsAccumulatedLosses 2022-04-30 07771324 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-04-30 07771324 core:PatentsTrademarksLicencesConcessionsSimilar 2022-04-30 07771324 core:OtherResidualIntangibleAssets 2022-04-30 07771324 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-30 07771324 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 07771324 core:OtherResidualIntangibleAssets 2023-04-30 07771324 core:FurnitureFittings 2022-04-30 07771324 core:OfficeEquipment 2022-04-30 07771324 core:FurnitureFittings 2023-04-30 07771324 core:OfficeEquipment 2023-04-30 07771324 bus:OrdinaryShareClass1 2023-04-30 07771324 bus:OrdinaryShareClass2 2023-04-30 07771324 2022-05-01 2023-04-30 07771324 bus:FullAccounts 2022-05-01 2023-04-30 07771324 bus:SmallEntities 2022-05-01 2023-04-30 07771324 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 07771324 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 07771324 bus:Director1 2022-05-01 2023-04-30 07771324 core:DevelopmentCostsCapitalisedDevelopmentExpenditure core:TopRangeValue 2022-05-01 2023-04-30 07771324 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-05-01 2023-04-30 07771324 core:OtherResidualIntangibleAssets core:TopRangeValue 2022-05-01 2023-04-30 07771324 core:FurnitureFittings core:TopRangeValue 2022-05-01 2023-04-30 07771324 core:OfficeEquipment core:TopRangeValue 2022-05-01 2023-04-30 07771324 2021-05-01 2022-04-30 07771324 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-05-01 2023-04-30 07771324 core:PatentsTrademarksLicencesConcessionsSimilar 2022-05-01 2023-04-30 07771324 core:OtherResidualIntangibleAssets 2022-05-01 2023-04-30 07771324 core:FurnitureFittings 2022-05-01 2023-04-30 07771324 core:OfficeEquipment 2022-05-01 2023-04-30 07771324 core:Non-currentFinancialInstruments 2022-05-01 2023-04-30 07771324 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 07771324 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 07771324 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 07771324 bus:OrdinaryShareClass2 2021-05-01 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 07771324 (England and Wales)

CHARTER BRANDS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2023
Pages for filing with the registrar

CHARTER BRANDS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2023

Contents

CHARTER BRANDS LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2023
CHARTER BRANDS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2023
DIRECTOR Mr M Crump
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
BUSINESS ADDRESS 12 Vaughan Parade
Torquay
Devon
TQ2 5EG
COMPANY NUMBER 07771324 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
CHARTER BRANDS LIMITED

BALANCE SHEET

As at 30 April 2023
CHARTER BRANDS LIMITED

BALANCE SHEET (continued)

As at 30 April 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 35,053 49,500
Tangible assets 4 4,679 5,716
39,732 55,216
Current assets
Stocks 150,859 160,920
Debtors 5 557,883 295,446
Cash at bank and in hand 20,327 93,646
729,069 550,012
Creditors: amounts falling due within one year 6 ( 655,127) ( 404,397)
Net current assets 73,942 145,615
Total assets less current liabilities 113,674 200,831
Creditors: amounts falling due after more than one year 7 ( 376,173) ( 480,744)
Net liabilities ( 262,499) ( 279,913)
Capital and reserves
Called-up share capital 8 141,000 141,000
Share premium account 648,610 648,610
Profit and loss account ( 1,052,109 ) ( 1,069,523 )
Total shareholders' deficit ( 262,499) ( 279,913)

For the financial year ending 30 April 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Charter Brands Limited (registered number: 07771324) were approved and authorised for issue by the Director on 31 January 2024. They were signed on its behalf by:

Mr M Crump
Director
CHARTER BRANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
CHARTER BRANDS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Charter Brands 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 Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom. The principal place of business is 12 Vaughan Parade, Torquay, Devon, TQ2 5EG.

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 £.

Going concern

As at 30th April 2022 the balance sheet shows net liabilities of £262,499 (2022: £279,913). The company relies on the support of the director which is expected to continue. As such, the accounts have been prepared on a going concern basis.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when the value of goods and services provided to date can be reliably measured.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Development costs 3 years straight line
Trademarks, patents and licences 5 years straight line
Other intangible assets 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 6.67 years straight line
Office equipment 6.67 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

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

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Intangible assets

Development costs Trademarks, patents
and licences
Other intangible assets Total
£ £ £ £
Cost
At 01 May 2022 170,951 25,562 15,033 211,546
Additions 2,985 2,590 0 5,575
Disposals ( 14,754) ( 2,784) 0 ( 17,538)
At 30 April 2023 159,182 25,368 15,033 199,583
Accumulated amortisation
At 01 May 2022 132,480 24,551 5,015 162,046
Charge for the financial year 17,252 1,063 1,504 19,819
Disposals ( 14,754) ( 2,581) 0 ( 17,335)
At 30 April 2023 134,978 23,033 6,519 164,530
Net book value
At 30 April 2023 24,204 2,335 8,514 35,053
At 30 April 2022 38,471 1,011 10,018 49,500

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 May 2022 8,970 8,387 17,357
Disposals ( 8,970) ( 1,482) ( 10,452)
At 30 April 2023 0 6,905 6,905
Accumulated depreciation
At 01 May 2022 8,969 2,672 11,641
Charge for the financial year 0 1,036 1,036
Disposals ( 8,969) ( 1,482) ( 10,451)
At 30 April 2023 0 2,226 2,226
Net book value
At 30 April 2023 0 4,679 4,679
At 30 April 2022 1 5,715 5,716

5. Debtors

2023 2022
£ £
Trade debtors 509,911 176,953
Prepayments 20,845 19,638
VAT recoverable 7,245 4,044
Other debtors 19,882 94,811
557,883 295,446

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 184,254 118,424
Trade creditors 318,229 242,760
Amounts owed to Group undertakings 2,400 2,927
Amounts owed to director 0 2,393
Accruals and deferred income 150,244 37,893
655,127 404,397

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 146,770 221,952
Other loans 229,403 258,792
376,173 480,744

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
61,472 Ordinary shares fully paid up shares of £ 1.00 each 61,472 61,472
Allotted, called-up and not yet paid
79,528 Ordinary shares 75p paid up shares of £ 1.00 each 79,528 79,528