Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false1true2023-02-01falseNo description of principal activity1The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12432437 2023-02-01 2024-01-31 12432437 2022-02-01 2023-01-31 12432437 2024-01-31 12432437 2023-01-31 12432437 c:Director1 2023-02-01 2024-01-31 12432437 d:FurnitureFittings 2023-02-01 2024-01-31 12432437 d:FurnitureFittings 2024-01-31 12432437 d:FurnitureFittings 2023-01-31 12432437 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12432437 d:CurrentFinancialInstruments 2024-01-31 12432437 d:CurrentFinancialInstruments 2023-01-31 12432437 d:Non-currentFinancialInstruments 2024-01-31 12432437 d:Non-currentFinancialInstruments 2023-01-31 12432437 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12432437 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12432437 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 12432437 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 12432437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 12432437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 12432437 d:ShareCapital 2024-01-31 12432437 d:ShareCapital 2023-01-31 12432437 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 12432437 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 12432437 c:FRS102 2023-02-01 2024-01-31 12432437 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12432437 c:FullAccounts 2023-02-01 2024-01-31 12432437 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 12432437









2020 DRINKS LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
2020 DRINKS LTD
REGISTERED NUMBER: 12432437

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,341
1,677

  
1,341
1,677

Current assets
  

Debtors: amounts falling due within one year
 5 
19,827
17,403

Cash at bank and in hand
 6 
1,035
3,534

  
20,862
20,937

Creditors: amounts falling due within one year
 7 
(15,789)
(11,657)

Net current assets
  
 
 
5,073
 
 
9,280

Total assets less current liabilities
  
6,414
10,957

Creditors: amounts falling due after more than one year
 8 
(6,314)
(10,857)

  

Net assets
  
100
100


Capital and reserves
  

Called up share capital 
  
100
100

  
100
100

Page 1

 
2020 DRINKS LTD
REGISTERED NUMBER: 12432437
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 September 2024.




................................................
Jonathan Rix
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
2020 DRINKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

2020 Drinks Ltd is a private company limited by its share capital, incorporated in England and Wales.  The principal activity of the Company was that of consultancy services within the drinks industry. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
2020 DRINKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
reducing balance method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
2020 DRINKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 February 2023
2,529



At 31 January 2024

2,529



Depreciation


At 1 February 2023
852


Charge for the year on owned assets
336



At 31 January 2024

1,188



Net book value



At 31 January 2024
1,341



At 31 January 2023
1,677

Page 5

 
2020 DRINKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Debtors

2024
2023
£
£


Trade debtors
2,077
14,940

Other debtors
17,750
2,463

19,827
17,403


Included within other debtors due within one year is a loan to Jonathan Rix, the director, and his wife Louise Rix, amounting to £13,271 (2023 - £2,463)




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,035
3,534

1,035
3,534



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
4,400
4,400

Corporation tax
10,087
6,015

Accruals and deferred income
1,302
1,242

15,789
11,657



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
6,314
10,857

6,314
10,857


Page 6

 
2020 DRINKS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
4,400
4,400

Amounts falling due 1-2 years

Bank loans
6,314
10,857



10,714
15,257



10.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,035
3,534




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Controlling party

The Company is controlled by the director, Jonathan Rix, by virtue of his shareholding, as described in the director's report.
 
Page 7