REGISTERED NUMBER: |
The Cocktail Man Limited |
Unaudited Financial Statements |
for the Year Ended 31 August 2023 |
REGISTERED NUMBER: |
The Cocktail Man Limited |
Unaudited Financial Statements |
for the Year Ended 31 August 2023 |
The Cocktail Man Limited (Registered number: 10304848) |
Contents of the Financial Statements |
for the year ended 31 August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
The Cocktail Man Limited |
Company Information |
for the year ended 31 August 2023 |
Director: |
Registered office: |
Registered number: |
Accountants: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
The Cocktail Man Limited (Registered number: 10304848) |
Balance Sheet |
31 August 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 3 |
Current assets |
Stocks |
Debtors | 4 |
Cash at bank |
Creditors |
Amounts falling due within one year | 5 |
Net current (liabilities)/assets | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
6 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Share premium |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
The Cocktail Man Limited (Registered number: 10304848) |
Notes to the Financial Statements |
for the year ended 31 August 2023 |
1. | Accounting policies |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents amounts receivable for goods provided in the year and is stated net of VAT. |
Tangible fixed assets |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cash and cash Equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Financial instruments |
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised. |
Classification of financial liabilities |
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. |
Basic financial liabilities |
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
The Cocktail Man Limited (Registered number: 10304848) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
1. | Accounting policies - continued |
Equity Instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
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. |
Going concern |
The directors have reasonable expectations that the limited liability partnership has adequate resources to continue operations for the foreseeable future, and with the continued support from the shareholder. For this reason, we are continuing to adopt the going concern basis in preparing the financial statements for the year ended 31 August 2022. We have reached this conclusion having regard to circumstances that may occur during a period of at least one year from the approval of these accounts. |
2. | Employees and directors |
The average number of employees during the year was |
3. | Tangible fixed assets |
Computer |
equipment |
£ |
Cost |
At 1 September 2022 |
and 31 August 2023 |
Depreciation |
At 1 September 2022 |
Charge for year |
At 31 August 2023 |
Net book value |
At 31 August 2023 |
At 31 August 2022 |
4. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
5. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
The Cocktail Man Limited (Registered number: 10304848) |
Notes to the Financial Statements - continued |
for the year ended 31 August 2023 |
5. | Creditors: amounts falling due within one year - continued |
Included within creditors due within one year is a loan which is secured by way of a fixed and floating charge on the assets of the company. |
6. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Other long-term loans | 380,000 | 250,000 |
Included within creditors falling due after more than one year is a loan which is secured by way of a fixed and floating charge on the assets of the company. |
7. | Called up share capital |
Allotted, issued | and fully paid | Nominal |
Number: | Class: | Value: | 2023 | 2022 |
£ | £ |
17,780 | Ordinary | £0.01 | 178 | 178 |