Britannia Beverages Ltd 07132261 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is sale of secondary aluminium products. Digita Accounts Production Advanced 6.30.9574.0 true 07132261 2023-01-01 2023-12-31 07132261 2023-12-31 07132261 core:CurrentFinancialInstruments 2023-12-31 07132261 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07132261 bus:SmallEntities 2023-01-01 2023-12-31 07132261 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07132261 bus:FullAccounts 2023-01-01 2023-12-31 07132261 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07132261 bus:RegisteredOffice 2023-01-01 2023-12-31 07132261 bus:Director1 2023-01-01 2023-12-31 07132261 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07132261 countries:England 2023-01-01 2023-12-31 07132261 2022-01-01 2022-12-31 07132261 2022-12-31 07132261 core:CurrentFinancialInstruments 2022-12-31 07132261 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 07132261

Britannia Beverages Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Britannia Beverages Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Britannia Beverages Ltd

Company Information

Director

Mr Paul Grout

Registered office

Sherwood House
41 Queens Road
Farnborough
GU14 6JP

Accountants

Garten Associates Ltd
20-22 Wenlock Road
London
England
N1 7GU

 

Britannia Beverages Ltd

(Registration number: 07132261)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

1,302,116

3,120,549

Cash at bank and in hand

 

1,963,446

1,266,607

 

3,265,562

4,387,156

Creditors: Amounts falling due within one year

5

(1,191,807)

(2,397,720)

Net assets

 

2,073,755

1,989,436

Capital and reserves

 

Called up share capital

1

1

Retained earnings

2,073,754

1,989,435

Shareholders' funds

 

2,073,755

1,989,436

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 September 2024
 

.........................................
Mr Paul Grout
Director

 

Britannia Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Sherwood House
41 Queens Road
Farnborough
GU14 6JP
United Kingdom

These financial statements were authorised for issue by the director on 13 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Britannia Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Britannia Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

926,830

3,043,763

Amounts owed by related parties

272,000

-

Other debtors

 

103,286

76,786

   

1,302,116

3,120,549

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

6

-

903,871

Trade creditors

 

442,540

774,379

Amounts owed to group undertakings and undertakings in which the company has a participating interest

604,631

332,631

Taxation and social security

 

24,600

239,422

Accruals and deferred income

 

4,800

4,100

Other creditors

 

115,236

143,317

 

1,191,807

2,397,720

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

903,871

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £272,000.00 (2022 - £90,000.00) per ordinary share

 

272,000

 

90,000