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REGISTERED NUMBER: 09338013 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

FESTINA DRINKS LIMITED

FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FESTINA DRINKS LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: R Gorst
Mrs G Gorst





SECRETARY: R Gorst





REGISTERED OFFICE: 44 Mortimer Lane
Fair Oak
Eastleigh
Hampshire
SO50 7BD





REGISTERED NUMBER: 09338013 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,752 17,155
Tangible assets 5 250,857 298,438
265,609 315,593

CURRENT ASSETS
Stocks 73,409 45,151
Debtors 6 213,109 158,896
Cash at bank and in hand 265,355 255,220
551,873 459,267
CREDITORS
Amounts falling due within one year 7 424,847 369,227
NET CURRENT ASSETS 127,026 90,040
TOTAL ASSETS LESS CURRENT
LIABILITIES

392,635

405,633

CREDITORS
Amounts falling due after more than one
year

8

(100,527

)

(137,338

)

PROVISIONS FOR LIABILITIES (61,983 ) (72,345 )
NET ASSETS 230,125 195,950

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 230,025 195,850
SHAREHOLDERS' FUNDS 230,125 195,950

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

BALANCE SHEET - continued
31 December 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 4 April 2024 and were signed on its behalf by:





R Gorst - Director


FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Festina Drinks 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 represents amounts receivable for goods net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the cost incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2018 and 2022, is being amorised evenly over the estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the profit and loss account.

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

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets 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 income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.


FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Government grants accounting policy
Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 24,030
AMORTISATION
At 1 January 2023 6,875
Amortisation for year 2,403
At 31 December 2023 9,278
NET BOOK VALUE
At 31 December 2023 14,752
At 31 December 2022 17,155

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 679,727 2,572 96,766 1,789 780,854
Additions 27,657 - 30,155 - 57,812
Disposals (7,703 ) - - - (7,703 )
At 31 December 2023 699,681 2,572 126,921 1,789 830,963
DEPRECIATION
At 1 January 2023 416,850 2,572 61,205 1,789 482,416
Charge for year 88,135 - 11,658 - 99,793
Eliminated on disposal (2,103 ) - - - (2,103 )
At 31 December 2023 502,882 2,572 72,863 1,789 580,106
NET BOOK VALUE
At 31 December 2023 196,799 - 54,058 - 250,857
At 31 December 2022 262,877 - 35,561 - 298,438

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 202,143 157,331
Other debtors 10,966 1,565
213,109 158,896

FESTINA DRINKS LIMITED (REGISTERED NUMBER: 09338013)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 47,020 45,907
Hire purchase contracts 11,352 10,100
Trade creditors 201,847 206,575
Taxation and social security 110,156 56,739
Other creditors 54,472 49,906
424,847 369,227

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 76,469 123,767
Hire purchase contracts 24,058 13,571
100,527 137,338

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 123,489 169,674

The bank loan and overdrafts are secured by way of a fixed and floating charge over the company's assets. The Hire Purchase creditors are secured by the assets being purchased with the loans.

10. RELATED PARTY DISCLOSURES

At the year end, the company owed an amount of £24,499 (2022: £38,231) to the directors of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.

11. POST BALANCE SHEET EVENTS

The company has been adversely affected by the effects of the lockdown due to Covid 19. To date the company is unable to quantify the cost. Due to a diversification of production and a relaxation of the lockdown rules the directors do not feel there is a need to make adjustments to these accounts.