Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-312022-04-01falseNo description of principal activity23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07896236 2022-04-01 2023-03-31 07896236 2021-04-01 2022-03-31 07896236 2023-03-31 07896236 2022-03-31 07896236 c:Director2 2022-04-01 2023-03-31 07896236 d:PlantMachinery 2022-04-01 2023-03-31 07896236 d:PlantMachinery 2023-03-31 07896236 d:PlantMachinery 2022-03-31 07896236 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07896236 d:MotorVehicles 2022-04-01 2023-03-31 07896236 d:MotorVehicles 2023-03-31 07896236 d:MotorVehicles 2022-03-31 07896236 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07896236 d:OfficeEquipment 2022-04-01 2023-03-31 07896236 d:OfficeEquipment 2023-03-31 07896236 d:OfficeEquipment 2022-03-31 07896236 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07896236 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07896236 d:CurrentFinancialInstruments 2023-03-31 07896236 d:CurrentFinancialInstruments 2022-03-31 07896236 d:CurrentFinancialInstruments 1 2023-03-31 07896236 d:CurrentFinancialInstruments 1 2022-03-31 07896236 d:Non-currentFinancialInstruments 2023-03-31 07896236 d:Non-currentFinancialInstruments 2022-03-31 07896236 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07896236 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07896236 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07896236 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07896236 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07896236 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07896236 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07896236 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07896236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 07896236 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 07896236 d:ShareCapital 2023-03-31 07896236 d:ShareCapital 2022-03-31 07896236 d:SharePremium 2023-03-31 07896236 d:SharePremium 2022-03-31 07896236 d:RetainedEarningsAccumulatedLosses 2023-03-31 07896236 d:RetainedEarningsAccumulatedLosses 2022-03-31 07896236 c:FRS102 2022-04-01 2023-03-31 07896236 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07896236 c:FullAccounts 2022-04-01 2023-03-31 07896236 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 07896236









C N DRINKS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023














 
C N DRINKS LIMITED
REGISTERED NUMBER:07896236

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
31,770
35,393

  
31,770
35,393

Current assets
  

Stocks
  
128,664
127,707

Debtors: amounts falling due within one year
 5 
15,966
29,765

  
144,630
157,472

Creditors: amounts falling due within one year
 6 
(92,940)
(110,555)

Net current assets
  
 
 
51,690
 
 
46,917

Total assets less current liabilities
  
83,460
82,310

Creditors: amounts falling due after more than one year
 7 
(35,417)
(40,417)

  

Net assets
  
48,043
41,893


Capital and reserves
  

Called up share capital 
  
154
154

Share premium account
  
132,946
132,946

Profit and loss account
  
(85,057)
(91,207)

  
48,043
41,893


Page 1

 
C N DRINKS LIMITED
REGISTERED NUMBER:07896236
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 March 2024.




N Norcott
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

C N Drinks Limited is a private company, limited by shares, domiciled in England and Wales. The registered office is 165 High Street, Honiton, EX14 1LQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors confirm that, having considered their expectations and intentions for the next twelve months, and the availability of working capital, the company is a going concern.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods.

Depreciation is provided on the following basis:

Plant and machinery
-
5 years straight line
Motor vehicles
-
25% reducing balance
Office equipment
-
3 years straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 3).

Page 6

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
35,965
3,704
1,864
41,533



At 31 March 2023

35,965
3,704
1,864
41,533



Depreciation


At 1 April 2022
3,547
926
1,667
6,140


Charge for the year on owned assets
2,731
695
197
3,623



At 31 March 2023

6,278
1,621
1,864
9,763



Net book value



At 31 March 2023
29,687
2,083
-
31,770



At 31 March 2022
32,418
2,778
197
35,393

Page 7

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Factored debts
15,025
15,826

Other debtors
941
13,939

15,966
29,765








6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
12,113
7,849

Bank loans
5,000
5,000

Trade creditors
41,287
34,495

Corporation tax
1,262
1,210

Other taxation and social security
18,887
25,976

Proceeds of factored debts
9,450
12,300

Other creditors
2,581
-

Accruals and deferred income
2,360
23,725

92,940
110,555



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
35,417
40,417

35,417
40,417


Page 8

 
C N DRINKS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 1-2 years

Bank loans
5,000
5,000


5,000
5,000

Amounts falling due 2-5 years

Bank loans
15,000
15,000


15,000
15,000

Amounts falling due after more than 5 years

Bank loans
15,417
20,417

15,417
20,417

40,417
45,417



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £NIL (2022 - £650). Contributions totalling £NIL (2022 - £NIL) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9