Acorah Software Products - Accounts Production 15.0.600 false true true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 08285923 Mr Martin O'Donohue Mr Ian O'Donohue AFP Services Limited iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08285923 2023-03-31 08285923 2024-03-31 08285923 2023-04-01 2024-03-31 08285923 frs-core:CurrentFinancialInstruments 2024-03-31 08285923 frs-core:Non-currentFinancialInstruments 2024-03-31 08285923 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-04-01 2024-03-31 08285923 frs-core:FurnitureFittings 2024-03-31 08285923 frs-core:FurnitureFittings 2023-04-01 2024-03-31 08285923 frs-core:FurnitureFittings 2023-03-31 08285923 frs-core:OtherResidualIntangibleAssets 2024-03-31 08285923 frs-core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 08285923 frs-core:OtherResidualIntangibleAssets 2023-03-31 08285923 frs-core:PlantMachinery 2024-03-31 08285923 frs-core:PlantMachinery 2023-04-01 2024-03-31 08285923 frs-core:PlantMachinery 2023-03-31 08285923 frs-core:WithinOneYear 2024-03-31 08285923 frs-core:SharePremium 2024-03-31 08285923 frs-core:ShareCapital 2024-03-31 08285923 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 08285923 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08285923 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 08285923 frs-bus:SmallEntities 2023-04-01 2024-03-31 08285923 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08285923 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08285923 frs-bus:Director1 2023-04-01 2024-03-31 08285923 frs-bus:Director2 2023-04-01 2024-03-31 08285923 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 08285923 frs-countries:EnglandWales 2023-04-01 2024-03-31 08285923 2022-03-31 08285923 2023-03-31 08285923 2022-04-01 2023-03-31 08285923 frs-core:CurrentFinancialInstruments 2023-03-31 08285923 frs-core:Non-currentFinancialInstruments 2023-03-31 08285923 frs-core:WithinOneYear 2023-03-31 08285923 frs-core:SharePremium 2023-03-31 08285923 frs-core:ShareCapital 2023-03-31 08285923 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 08285923
Tudor Drinks Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 08285923
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,617 3,341
Tangible Assets 5 64,869 10,793
68,486 14,134
CURRENT ASSETS
Stocks 6 371,180 299,646
Debtors 7 324,458 334,197
Cash at bank and in hand 27,858 5,644
723,496 639,487
Creditors: Amounts Falling Due Within One Year 8 (304,050 ) (233,761 )
NET CURRENT ASSETS (LIABILITIES) 419,446 405,726
TOTAL ASSETS LESS CURRENT LIABILITIES 487,932 419,860
Creditors: Amounts Falling Due After More Than One Year 9 (260,776 ) (294,043 )
NET ASSETS 227,156 125,817
CAPITAL AND RESERVES
Called up share capital 11 148 148
Share premium account 808,692 808,692
Profit and Loss Account (581,684 ) (683,023 )
SHAREHOLDERS' FUNDS 227,156 125,817
Page 1
Page 2
For the year ending 31 March 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Ian O'Donohue
Director
03/09/2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Tudor Drinks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08285923 . The registered office is 3rd Floor, 207 Regent Street, London, W1B 3HH.




2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have considered the impact of Covid-19 on the company and its operations. There was some adverse impact on the operations and revenue of the company, during which time the government assistance such as furlough grants has been utilised. The directors anticipate that the company will be profitable going forward. The directors have considered a period of at least 12 months from the date of approval of these financial statements and therefore they have prepared the financial statements on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are trademark costs. They are amortised to profit and loss account over their estimated economic life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 10%/20%/33.3% Straight Line
Fixtures & Fittings 25% Straight Line
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.12. Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
2.13. Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Intangible Assets
Other
£
Cost
As at 1 April 2023 19,165
Additions 2,229
As at 31 March 2024 21,394
Amortisation
As at 1 April 2023 15,824
Provided during the period 1,953
As at 31 March 2024 17,777
Net Book Value
As at 31 March 2024 3,617
As at 1 April 2023 3,341
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 30,770 12,446 43,216
Additions 58,117 - 58,117
As at 31 March 2024 88,887 12,446 101,333
Depreciation
As at 1 April 2023 19,977 12,446 32,423
Provided during the period 4,041 - 4,041
As at 31 March 2024 24,018 12,446 36,464
Net Book Value
As at 31 March 2024 64,869 - 64,869
As at 1 April 2023 10,793 - 10,793
6. Stocks
2024 2023
£ £
Materials 119,698 77,403
Finished goods 251,482 222,243
371,180 299,646
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7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 152,908 147,946
Prepayments and accrued income 7,456 4,802
Other debtors 1,913 263
Deferred tax current asset 162,181 181,186
324,458 334,197
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 39,617 -
Trade creditors 188,629 168,295
Bank loans and overdrafts 10,125 43,396
Other taxes and social security 6,450 11,929
Other creditors 49,675 9,875
Accruals and deferred income 9,554 266
304,050 233,761
Other creditors includes loans from directors of £39,669 (2023 - £1,913) that are interest free.
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 17,718 27,843
Other creditors 243,058 266,200
260,776 294,043
Creditors due after more than one year include loans from shareholders and directors totalling £243,058 (2023 - £266,200) to support the company. These loans are currently interest free.
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 39,617 -
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 148 148
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