Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312024-05-23trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.182023-02-01falsetrueNo description of principal activity10 11525411 2023-02-01 2024-01-31 11525411 2022-02-01 2023-01-31 11525411 2024-01-31 11525411 2023-01-31 11525411 2022-02-01 11525411 c:Director1 2023-02-01 2024-01-31 11525411 d:PlantMachinery 2023-02-01 2024-01-31 11525411 d:PlantMachinery 2024-01-31 11525411 d:PlantMachinery 2023-01-31 11525411 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11525411 d:ComputerEquipment 2023-02-01 2024-01-31 11525411 d:ComputerEquipment 2024-01-31 11525411 d:ComputerEquipment 2023-01-31 11525411 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11525411 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 11525411 d:CurrentFinancialInstruments 2024-01-31 11525411 d:CurrentFinancialInstruments 2023-01-31 11525411 d:Non-currentFinancialInstruments 2024-01-31 11525411 d:Non-currentFinancialInstruments 2023-01-31 11525411 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 11525411 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 11525411 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 11525411 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 11525411 d:UKTax 2023-02-01 2024-01-31 11525411 d:UKTax 2022-02-01 2023-01-31 11525411 d:ShareCapital 2023-02-01 2024-01-31 11525411 d:ShareCapital 2024-01-31 11525411 d:ShareCapital 2022-02-01 2023-01-31 11525411 d:ShareCapital 2023-01-31 11525411 d:ShareCapital 2022-02-01 11525411 d:SharePremium 2023-02-01 2024-01-31 11525411 d:SharePremium 2024-01-31 11525411 d:SharePremium 2022-02-01 2023-01-31 11525411 d:SharePremium 2023-01-31 11525411 d:SharePremium 2022-02-01 11525411 d:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 11525411 d:RetainedEarningsAccumulatedLosses 2024-01-31 11525411 d:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 11525411 d:RetainedEarningsAccumulatedLosses 2023-01-31 11525411 d:RetainedEarningsAccumulatedLosses 2022-02-01 11525411 c:OrdinaryShareClass1 2023-02-01 2024-01-31 11525411 c:OrdinaryShareClass1 2024-01-31 11525411 c:OrdinaryShareClass1 2023-01-31 11525411 c:FRS102 2023-02-01 2024-01-31 11525411 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 11525411 c:FullAccounts 2023-02-01 2024-01-31 11525411 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 11525411 2 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11525411









MOTH DRINKS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
MOTH DRINKS LTD
REGISTERED NUMBER: 11525411

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
61,633
10,656

Current assets
  

Stocks
  
1,447,176
811,919

Debtors: amounts falling due within one year
 6 
1,983,603
539,201

Cash at bank and in hand
 7 
1,084,046
266,323

  
4,514,825
1,617,443

Creditors: amounts falling due within one year
 8 
(1,132,106)
(317,714)

Net current assets
  
3,382,719
1,299,729

Creditors: amounts falling due after more than one year
 9 
(1,164,583)
(18,333)

Net assets
  
2,279,769
1,292,052


Capital and reserves
  

Called up share capital 
 10 
39,739
35,055

Share premium account
  
6,156,053
3,410,743

Profit and loss account
  
(3,916,023)
(2,153,746)

  
2,279,769
1,292,052


The directors consider 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 directors acknowledge their 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 Company has opted not to file the profit and loss account 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 23 May 2024.



................................................
Robert Wallis
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 1

 
MOTH DRINKS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 February 2022
29,059
1,418,093
(840,235)
606,917


Comprehensive income for the year

Loss for the year
-
-
(1,313,511)
(1,313,511)

Shares issued during the year
5,996
1,992,650
-
1,998,646



At 1 February 2023
35,055
3,410,743
(2,153,746)
1,292,052


Comprehensive income for the year

Loss for the year
-
-
(1,762,277)
(1,762,277)

Shares issued during the year
4,684
2,745,310
-
2,749,994


At 31 January 2024
39,739
6,156,053
(3,916,023)
2,279,769


The notes on pages 3 to 9 form part of these financial statements.
Page 2

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

1.


General information

MOTH Drinks Ltd (formerly Buveur Ltd) is a private company limited by share capital, incorporated in England and Wales, registration number 11525411. The address of the registered office is Wisteria Grange Barn Pikes End, Pinner, London, England, HA5 2EX.

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

Going concern

The financial statements have been prepared on a going concern basis as the directors believe adequate resources exist to enable it to meet its working capital requirements for at least twelve months from approval of these financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

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

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

Borrowing costs

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

Page 4

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

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

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.

 
2.11

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:

Plant and machinery
-
25%
Reducing Balance Basis
Computer equipment
-
33%
Straight Line Basis

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.

Page 5

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

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

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 non-puttable ordinary shares.

Financial assets that 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 Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 10).

Page 6

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

4.


Taxation


2024
2023
£
£



Current tax on profits for the year
-
-

Factors affecting tax charge for the year

There were no factors that affected the tax charge for the year which has been calculated on the profits on ordinary activities before tax at the standard rate of corporation tax in the UK of25% (2023 - 19%).



Factors that may affect future tax charges

The tax charge for the year was £Nil (2023: £Nil). The company has tax losses at the year end of £3,776,031 (2023: £2,163,195).


5.


Tangible fixed assets





Plant and machinery
Computer equipment
Total

£
£
£



Cost or valuation


At 1 February 2023
7,108
9,452
16,560


Additions
55,142
15,901
71,043



At 31 January 2024

62,250
25,353
87,603



Depreciation


At 1 February 2023
2,670
3,234
5,904


Charge for the year on owned assets
14,197
5,869
20,066



At 31 January 2024

16,867
9,103
25,970



Net book value



At 31 January 2024
45,383
16,250
61,633



At 31 January 2023
4,438
6,218
10,656

Page 7

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

6.


Debtors

2024
2023
£
£


Trade debtors
1,827,259
471,353

Other debtors
64,408
35,888

Prepayments and accrued income
91,936
31,960

1,983,603
539,201



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,084,046
266,323



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
348,750
-

Trade creditors
322,188
172,797

Other taxation and social security
163,352
21,275

Other creditors
6,963
101,085

Accruals and deferred income
290,853
22,557

1,132,106
317,714



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
1,164,583
18,333


Page 8

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

10.


Share capital

2024
2023
£
£
Allotted, called up and partly paid



3,973,943 (2023 - 3,505,500) A Ordinary shares of £0.01 (2023 - £0.01) each
39,739
35,055

On 4 December 2023, 468,443 A Ordinary Shares were allotted with a nominal value of £0.01 each.



11.


Related party transactions

Included in other creditors at 31 January 2024, is an amount of £Nil (2023: £4,176) owed to the director, Robert Wallis, and an amount of £Nil (2023: £5,235) owed to the director, Samuel Hunt. 
These loans are interest free and repayable on demand.
During the year, the company was invoiced £54,000 for services by Drinks Sherpa Limited, of which Andrew Fennell is also a director.  At the balance sheet date there was an amount payable of £21,600 outstanding (2023 £nil).
During the year, the company was invoiced £30,116 for services by Makoot, of which Matthew Frost owns the business. At the balance sheet £nil was outstanding (2023: £nil).

 
Page 9