REGISTERED NUMBER: |
WATERDROP MICRODRINK LTD |
Financial Statements for the Year Ended 31 December 2023 |
REGISTERED NUMBER: |
WATERDROP MICRODRINK LTD |
Financial Statements for the Year Ended 31 December 2023 |
WATERDROP MICRODRINK LTD (REGISTERED NUMBER: 12025511) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 | to | 5 |
WATERDROP MICRODRINK LTD |
Company Information |
for the year ended 31 December 2023 |
Director: |
Registered office: |
Registered number: |
Auditors: |
Statutory Auditor |
CUBO Birmingham |
3rd Floor |
Two Chamberlain Square |
Birmingham |
West Midlands |
B3 3AX |
Bankers: |
150 Cheapside |
London |
EC2V 6E |
WATERDROP MICRODRINK LTD (REGISTERED NUMBER: 12025511) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 7 |
Retained earnings |
Shareholders' funds |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
WATERDROP MICRODRINK LTD (REGISTERED NUMBER: 12025511) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | Statutory information |
Waterdrop Microdrink Ltd is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment and have a reasonable expectation that the company will continue in operational existence for the foreseeable future. |
In addition, the company has the support of it's parent undertaking Waterdrop Microdrink GmbH. Waterdrop Microdrink GmbH have indicated that support is ongoing and will not be withdrawn within 12 months from the date of approval of these financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, after discounts, rebates and excluding value added tax and other sales taxes. |
Other income includes a marketing contribution received from the company's parent undertaking. |
Government grants |
Grants which are of a revenue nature are credited to the profit and loss account in the same period as the related expenditure. |
Tangible fixed assets |
Fixed assets are initially recorded at cost. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Plant and equipment - 8 years straight line (monthly basis) |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
WATERDROP MICRODRINK LTD (REGISTERED NUMBER: 12025511) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
2. | Accounting policies - continued |
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. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Plant and |
equipment |
£ |
Cost |
At 1 January 2023 |
Disposals | ( |
) |
At 31 December 2023 |
Depreciation |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 December 2023 |
Net book value |
At 31 December 2023 |
At 31 December 2022 |
5. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
Prepayments |
WATERDROP MICRODRINK LTD (REGISTERED NUMBER: 12025511) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
6. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security and other taxes |
VAT | 463 | 3,244 |
Other creditors |
Accruals and deferred income |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | Related party disclosures |
During the year, market support income was received from the parent company, Waterdrop Microdrink GMBH, totalling £120,525 (2022: £287,029). |
At the year end the company was owed £5,619 from the parent company (2022: £12,033 owed to the parent company). The intercompany loan carries an interest rate of 4.35% per annum, payable quarterly. |
10. | Ultimate controlling party |
The controlling party is Waterdrop Microdrink GMBH. |
Erika-Krenn Promenade 15 |
1100 Vienna, Austria |