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Company No: 15129483 (England and Wales)

FROTH DISTRIBUTION LIMITED

Unaudited Financial Statements
For the financial period from 11 September 2023 to 31 March 2024
Pages for filing with the registrar

FROTH DISTRIBUTION LIMITED

Unaudited Financial Statements

For the financial period from 11 September 2023 to 31 March 2024

Contents

FROTH DISTRIBUTION LIMITED

COMPANY INFORMATION

For the financial period from 11 September 2023 to 31 March 2024
FROTH DISTRIBUTION LIMITED

COMPANY INFORMATION (continued)

For the financial period from 11 September 2023 to 31 March 2024
DIRECTORS Anthony Edward Cook (Appointed 13 February 2024)
Ryan Dominik Meade (Appointed 11 September 2023)
Christopher Pensabene (Appointed 13 February 2024)
Cale Zachary Watts (Appointed 11 September 2023)
REGISTERED OFFICE Leeward House
Fitzroy Road
Exeter
EX1 3LJ
England
United Kingdom
COMPANY NUMBER 15129483 (England and Wales)
ACCOUNTANT Old Mill Accountancy Limited
Leeward House
Fitzroy Road
Exeter Business Park
Exeter
Devon
EX1 3LJ
FROTH DISTRIBUTION LIMITED

BALANCE SHEET

As at 31 March 2024
FROTH DISTRIBUTION LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 31.03.2024
£
Fixed assets
Intangible assets 3 7,031
7,031
Current assets
Stocks 5,919
Debtors 4 60,140
Cash at bank and in hand 24,996
91,055
Creditors: amounts falling due within one year 5 ( 58,081)
Net current assets 32,974
Total assets less current liabilities 40,005
Net assets 40,005
Capital and reserves
Called-up share capital 6 120
Capital contribution reserve 60,000
Profit and loss account ( 20,115 )
Total shareholders' funds 40,005

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Froth Distribution Limited (registered number: 15129483) were approved and authorised for issue by the Board of Directors on 22 October 2024. They were signed on its behalf by:

Anthony Edward Cook
Director
FROTH DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 September 2023 to 31 March 2024
FROTH DISTRIBUTION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 September 2023 to 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Froth Distribution Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Leeward House, Fitzroy Road, Exeter, EX1 3LJ, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

The company incorporated on 11 September 2023. The directors chose to shorten the accounting period to 31 March 2024 to align the company year-end with the UK tax year-end. These financial statements therefore cover a six and a half month period rather than a full year.

The company commenced trading on 04 December 2023.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so 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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 4 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

Period from
11.09.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 3

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 11 September 2023 0 0
Additions 7,500 7,500
At 31 March 2024 7,500 7,500
Accumulated amortisation
At 11 September 2023 0 0
Charge for the financial period 469 469
At 31 March 2024 469 469
Net book value
At 31 March 2024 7,031 7,031

4. Debtors

31.03.2024
£
Trade debtors 58,350
Prepayments 1,750
Other debtors 40
60,140

5. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 24,165
Amounts owed to directors 10,000
Accruals 6,522
Other taxation and social security 17,394
58,081

6. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
120 Ordinary shares of £ 1.00 each 120

Upon incorporation on 11 September 2023, 120 Ordinary £1 shares were issued at par.

7. Related party transactions

Transactions with the entity's directors

31.03.2024
£
Directors Loan Account- owed to company at balance sheet date 10,000

During the year a further director made a capital contribution to the company of £60,000.