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Registered Number: 05011775


 

 

 

AMERICAN DRINKS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2023

End date: 31 December 2023
Director Angelos Panayiotou
Registered Number 05011775
Registered Office Windfall House
D1 The Courtyard
St Albans
AL4 0LA
Accountants WINDFALL ACCOUNTING
WINDFALL HOUSE D1, THE COURTYARD
ALBAN PARK ST. ALBANS
Hertfordshire
Hertfordshire
AL4 0LA
1
 
 
Notes
 
2023
£
  2022
£
Current assets      
Stocks 4 584,449    499,637 
Debtors 5 1,232,850    683,097 
Cash at bank and in hand 129,529    89,437 
1,946,828    1,272,171 
Creditors: amount falling due within one year 6 (1,612,082)   (967,665)
Net current assets 334,746    304,506 
 
Total assets less current liabilities 334,746    304,506 
Creditors: amount falling due after more than one year 7 (22,864)   (29,386)
Net assets 311,882    275,120 
 

Capital and reserves
     
Called up share capital 2,000    2,000 
Profit and loss account 309,882    273,120 
Shareholders' funds 311,882    275,120 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 17 September 2024 and were signed by:


-------------------------------
Angelos Panayiotou
Director
2
General Information
American Drinks Limited is a private company, limited by shares, registered in , registration number 05011775, registration address Windfall House, D1 The Courtyard, St Albans, AL4 0LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 4 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 01 January 2023 2,369    2,369 
Additions  
Disposals  
At 31 December 2023 2,369    2,369 
Depreciation
At 01 January 2023 2,369    2,369 
Charge for year  
On disposals  
At 31 December 2023 2,369    2,369 
Net book values
Closing balance as at 31 December 2023  
Opening balance as at 01 January 2023  


4.

Stocks

2023
£
  2022
£
Stocks 584,449    499,637 
584,449    499,637 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 1,124,906    683,097 
Prepayments & Accrued Income 107,944   
1,232,850    683,097 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 1,432,499    436,262 
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 8,623    33,155 
Accrued Expenses 98,633    457,850 
VAT 62,327    30,398 
1,612,082    967,665 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 22,864    29,386 
22,864    29,386 

3