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REGISTERED NUMBER: 07439914 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

THINK DRINKS LIMITED

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THINK DRINKS LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M S Vowles
J Collins
G A Trujillo
M J W Thorne
T A Batlle





REGISTERED OFFICE: 65 Whiteladies Road
Bristol
BS8 2LY





REGISTERED NUMBER: 07439914 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £'000 £'000
FIXED ASSETS
Intangible assets 4 19 3
Tangible assets 5 557 381
Investments 6 250 -
826 384

CURRENT ASSETS
Stocks 351 290
Debtors 7 580 707
Cash at bank 337 233
1,268 1,230
CREDITORS
Amounts falling due within one year 8 (1,010 ) (844 )
NET CURRENT ASSETS 258 386
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,084

770

CREDITORS
Amounts falling due after more than one
year

9

(283

)

(31

)

PROVISIONS FOR LIABILITIES (82 ) (40 )
NET ASSETS 719 699

CAPITAL AND RESERVES
Called up share capital 11 - -
Share premium 321 425
Retained earnings 398 274
SHAREHOLDERS' FUNDS 719 699

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Balance Sheet - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





J Collins - Director


THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. COMPANY INFORMATION

Think Drinks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The company's principal activities and nature of its operations are disclosed in the Directors' Report.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £'000.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below:

Going concern
The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information including annual budgets and future cash-flows in making their assessment. Based on these assessments, given the measures that could be undertaken, and current resources available, the directors have concluded that they are able to continue to adopt the going concern basis in prepared the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Goodwill
Goodwill has been fully amortised over a 10 year period following the acquisition of a business in 2011.

After initial recognition, goodwill is measured at cost less any accumulated amortisation and any accumulated impairment losses. Impairment reviews are carried out annually.

Intangible assets
Intangible assets relate to capitalised trademark costs and website development costs. They are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation. These costs will be amortised over their useful economic life of five years. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Impairment reviews are carried out annually.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 20% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on reducing balance
Computer software & equipment - 33% on cost

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are stated at the lower of cost and net realisable value. Cost comprises direct materials and those overheads that have been incurred in bringing the stocks to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Cash and cash equivalents
Cash and cash equivalents 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 current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Financial assets
Basic financial assets, which include trade and other debtors, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Financial liabilities
Basic financial liabilities, including trade and other creditors, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account 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 balance sheet date.


THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. The assets of the scheme are held separately from those of the company in an independently administered fund.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£'000 £'000 £'000
COST
At 1 April 2023 102 5 107
Additions - 22 22
At 31 March 2024 102 27 129
AMORTISATION
At 1 April 2023 102 2 104
Charge for year - 6 6
At 31 March 2024 102 8 110
NET BOOK VALUE
At 31 March 2024 - 19 19
At 31 March 2023 - 3 3

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. TANGIBLE FIXED ASSETS
Computer
Leasehold Plant and Motor software
improvements machinery vehicles & equipment Totals
£'000 £'000 £'000 £'000 £'000
COST
At 1 April 2023 18 823 5 29 875
Additions 69 201 - 29 299
Disposals - (35 ) (5 ) - (40 )
At 31 March 2024 87 989 - 58 1,134
DEPRECIATION
At 1 April 2023 16 450 2 26 494
Charge for year 16 81 - 12 109
Eliminated on disposal - (24 ) (2 ) - (26 )
At 31 March 2024 32 507 - 38 577
NET BOOK VALUE
At 31 March 2024 55 482 - 20 557
At 31 March 2023 2 373 3 3 381

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£'000
COST
Additions 250
At 31 March 2024 250
NET BOOK VALUE
At 31 March 2024 250

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Trade debtors 563 687
Prepayments 17 20
580 707

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£'000 £'000
Bank loans and overdrafts 89 10
Other loans 53 -
Hire purchase contracts (see note 10) 2 -
Trade creditors 704 805
Amounts owed to group undertakings 14 -
Social security and other taxes 33 -
Pensions payable 2 -
VAT 1 4
Other creditors 59 -
Accruals & deferred income 53 25
1,010 844

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£'000 £'000
Bank loans - 1-2 years 95 10
Bank loans - 2-5 years 70 21
Other loans 57 -
Other loans - 2-5 years 45 -
Hire purchase contracts (see note 10) 16 -
283 31

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£'000 £'000
Net obligations repayable:
Within one year 2 -
Between one and five years 16 -
18 -

Non-cancellable operating leases
2024 2023
£'000 £'000
Within one year 55 52
Between one and five years 28 64
83 116

THINK DRINKS LIMITED (REGISTERED NUMBER: 07439914)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
16,029 Ordinary 1p 1p 160 170

The following shares were issued during the year:

1,892 Ordinary 1p shares of 1p for cash of £349991

During the year the company bought back 2,885 Ordinary 1p shares for cash of £450,031.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

13. ULTIMATE CONTROLLING PARTY

The company has no controlling party.