Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31142023-02-01false11050 - Manufacture of beer15falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09471818 2023-02-01 2024-01-31 09471818 2024-01-31 09471818 2022-02-01 2023-01-31 09471818 2023-01-31 09471818 c:Director5 2023-02-01 2024-01-31 09471818 d:PlantMachinery 2023-02-01 2024-01-31 09471818 d:PlantMachinery 2024-01-31 09471818 d:PlantMachinery 2023-01-31 09471818 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09471818 d:ComputerEquipment 2023-02-01 2024-01-31 09471818 d:ComputerEquipment 2024-01-31 09471818 d:ComputerEquipment 2023-01-31 09471818 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09471818 d:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 09471818 d:OtherPropertyPlantEquipment 2024-01-31 09471818 d:OtherPropertyPlantEquipment 2023-01-31 09471818 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09471818 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09471818 d:ComputerSoftware 2024-01-31 09471818 d:ComputerSoftware 2023-01-31 09471818 d:OtherResidualIntangibleAssets 2023-02-01 2024-01-31 09471818 d:CurrentFinancialInstruments 2024-01-31 09471818 d:CurrentFinancialInstruments 2023-01-31 09471818 d:Non-currentFinancialInstruments 2024-01-31 09471818 d:Non-currentFinancialInstruments 2023-01-31 09471818 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09471818 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09471818 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 09471818 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09471818 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 09471818 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 09471818 d:ShareCapital 2024-01-31 09471818 d:ShareCapital 2023-01-31 09471818 d:SharePremium 2024-01-31 09471818 d:SharePremium 2023-01-31 09471818 d:RetainedEarningsAccumulatedLosses 2024-01-31 09471818 d:RetainedEarningsAccumulatedLosses 2023-01-31 09471818 c:FRS102 2023-02-01 2024-01-31 09471818 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 09471818 c:FullAccounts 2023-02-01 2024-01-31 09471818 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09471818 d:WithinOneYear 2024-01-31 09471818 d:WithinOneYear 2023-01-31 09471818 d:BetweenOneFiveYears 2024-01-31 09471818 d:BetweenOneFiveYears 2023-01-31 09471818 2 2023-02-01 2024-01-31 09471818 d:ComputerSoftware d:OwnedIntangibleAssets 2023-02-01 2024-01-31 09471818 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure
Registered number: 09471818


DESIGN TO DRINK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

 
DESIGN TO DRINK LIMITED
REGISTERED NUMBER: 09471818

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
                                    Note
£
£

Fixed assets
  

Intangible assets
 4 
5,084
14,154

Tangible assets
 5 
47,100
49,145

  
52,184
63,299

Current assets
  

Stocks
 6 
253,775
269,556

Debtors: amounts falling due within one year
 7 
447,814
366,062

Cash at bank and in hand
 8 
-
2,117

  
701,589
637,735

Creditors: amounts falling due within one year
 9 
(252,761)
(214,070)

Net current assets
  
 
 
448,828
 
 
423,665

Total assets less current liabilities
  
501,012
486,964

Creditors: amounts falling due after more than one year
 10 
(356,340)
(2,445,695)

  

Net assets/(liabilities)
  
144,672
(1,958,731)


Capital and reserves
  

Called up share capital 
  
101
100

Share premium account
  
2,923,234
-

Profit and loss account
  
(2,778,663)
(1,958,831)

  
144,672
(1,958,731)

Page 1

 
DESIGN TO DRINK LIMITED
REGISTERED NUMBER: 09471818
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

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 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 by: 




................................................
H Yechiel
Director

Date: 29 October 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Design To Drink Limited is a limited company incorporated in England and Wales and domiciled in the United Kingdom. The registered office address is 1 Vincent Square, London, England, SW1P 2PN.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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:

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.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

 
2.5

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.
Page 3

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 Amortisation is provided on the following bases:

Other intangible fixed assets
-
33%
straight-line method

 
2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
straight-line method
Computer equipment
-
Other fixed assets
-
33%
straight-line 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.

Page 4

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 15 (2023 - 14).

Page 5

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Computer software

£



Cost


At 1 February 2023
29,213



At 31 January 2024

29,213



Amortisation


At 1 February 2023
15,059


Charge for the year on owned assets
9,070



At 31 January 2024

24,129



Net book value



At 31 January 2024
5,084



At 31 January 2023
14,154



Page 6

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Plant and machinery
Computer equipment
Other fixed assets
Total

£
£
£
£



Cost or valuation


At 1 February 2023
7,669
-
86,257
93,926


Additions
-
133
31,739
31,872



At 31 January 2024

7,669
133
117,996
125,798



Depreciation


At 1 February 2023
6,071
-
38,709
44,780


Charge for the year on owned assets
556
133
33,229
33,918



At 31 January 2024

6,627
133
71,938
78,698



Net book value



At 31 January 2024
1,042
-
46,058
47,100



At 31 January 2023
1,597
-
47,548
49,145


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
253,775
269,556

253,775
269,556


Page 7

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
440,699
334,221

Other debtors
239
2,335

Prepayments and accrued income
6,876
29,506

447,814
366,062



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
-
2,117

Less: bank overdrafts
(22,469)
(23,995)

(22,469)
(21,878)



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
22,469
23,995

Bank loans
10,000
20,601

Trade creditors
36,461
31,495

Other taxation and social security
93,238
123,086

Other creditors
15,746
2,546

Accruals and deferred income
74,847
12,347

252,761
214,070


Page 8

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
251,299
192,338

Other loans
13,332
23,332

Other creditors
91,709
2,230,025

356,340
2,445,695



11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
20,601


10,000
20,601

Amounts falling due 1-2 years

Bank loans
251,299
192,338

Other loans
13,332
23,332


264,631
215,670



274,631
236,271



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £10,002 (2023 - £8,732). Contributions totalling £2,425 (2023 - £1,434) were due to the fund at the balance sheet date and are included in other creditors due in 1 year.

Page 9

 
DESIGN TO DRINK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

13.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
5,000
30,000

Later than 1 year and not later than 5 years
-
5,000

5,000
35,000


14.


Related party transactions

As at the balance sheet date, included within creditors due in greater than 1 year is a balance of £nil (2023: £2,134,225) due to Design To Drink Holdings Limited.
Additionally, at the balance sheet date, included within creditors due in greater than 1 year is a balance of £91,709 (2023: £95,801 due from) due to Two Tribes Brewing Ltd. 
Interest is not being charged on these balances and there are no fixed repayment terms in place.

 
Page 10