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REGISTERED NUMBER: 05131826 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

DRINKS DIRECT LIMITED

DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DRINKS DIRECT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: Himat Singh
Jatinder Singh





REGISTERED OFFICE: Unit 6
Rowan Trade Park
Neville Road
Bradford
West Yorkshire
BD4 8TQ





REGISTERED NUMBER: 05131826 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
1 Valley Court
Canal Road
Bradford
West Yorkshire
BD1 4SP

DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,017 45,217

CURRENT ASSETS
Stocks 264,366 275,348
Debtors 5 15,867 13,379
Cash at bank 648,184 651,736
928,417 940,463
CREDITORS
Amounts falling due within one year 6 232,753 223,719
NET CURRENT ASSETS 695,664 716,744
TOTAL ASSETS LESS CURRENT
LIABILITIES

728,681

761,961

PROVISIONS FOR LIABILITIES 6,273 8,591
NET ASSETS 722,408 753,370

CAPITAL AND RESERVES
Called up share capital 45,000 45,000
Profit and loss account 677,408 708,370
722,408 753,370

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)

BALANCE SHEET - continued
31 OCTOBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2024 and were signed on its behalf by:




Jatinder Singh - Director



Himat Singh - Director


DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Drinks Direct Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer Equipment - 33% on cost

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

INCOME RECOGNITION
Revenue is recognised to the extent that is probable that the economic benefits will flow to the company and 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 10 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022
and 31 October 2023 8,500 6,479 19,411
DEPRECIATION
At 1 November 2022 8,500 6,318 18,529
Charge for year - 41 177
At 31 October 2023 8,500 6,359 18,706
NET BOOK VALUE
At 31 October 2023 - 120 705
At 31 October 2022 - 161 882

Motor Computer
vehicles Equipment Totals
£    £    £   
COST
At 1 November 2022
and 31 October 2023 77,450 22,191 134,031
DEPRECIATION
At 1 November 2022 34,526 20,941 88,814
Charge for year 10,732 1,250 12,200
At 31 October 2023 45,258 22,191 101,014
NET BOOK VALUE
At 31 October 2023 32,192 - 33,017
At 31 October 2022 42,924 1,250 45,217

DRINKS DIRECT LIMITED (REGISTERED NUMBER: 05131826)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by related parties 12,814 10,814
Other debtors 3,053 2,565
15,867 13,379

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 113,447 143,588
Taxation and social security 8,247 16,278
Other creditors 111,059 63,853
232,753 223,719

7. PENSION COMMITMENTS

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £712 (2022: £1,043).Contributions totalling £253 (2022: £126) were payable to the plan at the year end and are included in creditors.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr Jatinder Singh is also a director of Drinks Depot Limited. During the year the company paid rent to Drinks Depot Limited amounting to £17,000 (2022: £17,000) for the rental of a storage unit.The company received a service charge from Drinks Depot Limited amounting to £2,000 (2022: £4,000).

Debtors falling due within one year includes the following related party balance. Drinks Depot Limited £12,814 (2022: £10,814).