Company Registration No. 07233660 (England and Wales)
London Alcohol Company Ltd
Unaudited accounts
for the year ended 31 December 2023
London Alcohol Company Ltd
Unaudited accounts
Contents
London Alcohol Company Ltd
Company Information
for the year ended 31 December 2023
Company Number
07233660 (England and Wales)
Registered Office
207 Regent Street
3rd Floor
London
W1B 3HH
Accountants
Charterwells
Suite 8, 2nd Floor
43-45 High Road
Bushey Heath
WD23 1EE
London Alcohol Company Ltd
Statement of financial position
as at 31 December 2023
Investments
1,380,249
1,380,249
Cash at bank and in hand
(13)
162
Creditors: amounts falling due within one year
(56,780)
(55,268)
Net current liabilities
(56,793)
(55,106)
Total assets less current liabilities
1,323,456
1,325,143
Creditors: amounts falling due after more than one year
(1,538,799)
(1,538,799)
Net liabilities
(215,343)
(213,656)
Called up share capital
184,969
184,969
Profit and loss account
(400,312)
(398,625)
Shareholders' funds
(215,343)
(213,656)
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 15 August 2024 and were signed on its behalf by
Zakar Oganian
Director
Company Registration No. 07233660
London Alcohol Company Ltd
Notes to the Accounts
for the year ended 31 December 2023
London Alcohol Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 07233660. The registered office is 207 Regent Street, 3rd Floor, London, W1B 3HH.
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.
The accounts are presented in £ sterling.
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:
Computer equipment
3 Years SLB
4
Tangible fixed assets
Computer equipment
London Alcohol Company Ltd
Notes to the Accounts
for the year ended 31 December 2023
5
Investments
Other investments
Valuation at 1 January 2023
1,380,249
Valuation at 31 December 2023
1,380,249
In February 2015 London Alcohol Company Ltd ("LAC"), purchased the stock and brand name for EUR 1,875,220 from a third party. This purchase was funded by a shareholder of LAC's ultimate parent company and a respective long term creditor is recognised within other creditors due after more than one year.
LAC has also issued a convertible bond for EUR 1,875,220. The term of the bond is 10 years. If the debt is unpaid during the term, then a conversion option within the bond would give LAC a maximum 10% shareholding in Kinahans Irish Whisky Ltd.
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
55,580
54,068
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
1,538,799
1,538,799
The loan above is unsecured, with no interest charge and is repayable on demand. The director repaid the full amount to the company within 9 months after the prior year end.
9
Average number of employees
During the year the average number of employees was 1 (2022: 1).