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REGISTERED NUMBER: 06254152 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Fizzco Limited

Fizzco Limited (Registered number: 06254152)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Fizzco Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: W Hollingsworth-Brown
R H Brown
V Salkauskas





SECRETARY: W Hollingsworth-Brown





REGISTERED OFFICE: Unit 29 Lincoln Enterprise Park
Newark Road
Lincoln
LN5 9FP





REGISTERED NUMBER: 06254152 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

Fizzco Limited (Registered number: 06254152)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 486,551 429,809
486,551 429,809

CURRENT ASSETS
Stocks 1,020,073 874,957
Debtors 6 313,044 242,469
Cash at bank and in hand 882 194
1,333,999 1,117,620
CREDITORS
Amounts falling due within one year 7 665,753 537,346
NET CURRENT ASSETS 668,246 580,274
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,154,797

1,010,083

CREDITORS
Amounts falling due after more than one
year

8

(329,463

)

(256,064

)

PROVISIONS FOR LIABILITIES (22,798 ) (5,235 )
NET ASSETS 802,536 748,784

CAPITAL AND RESERVES
Called up share capital 10 1,065 1,065
Share premium 35,991 35,991
Capital redemption reserve 268 268
Retained earnings 765,212 711,460
SHAREHOLDERS' FUNDS 802,536 748,784

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Fizzco Limited (Registered number: 06254152)

Balance Sheet - continued
31 May 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:




W Hollingsworth-Brown - Director



R H Brown - Director


Fizzco Limited (Registered number: 06254152)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Fizzco 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, 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.

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:

Freehold property - 2% straight line
Plant and machinery - 10% straight line
Computer equipment - 20% straight line

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.

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 first in, first out 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.

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 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 Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


Fizzco Limited (Registered number: 06254152)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those
held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pensions
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2023 - 20 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2023
and 31 May 2024 100,000
AMORTISATION
At 1 June 2023
and 31 May 2024 100,000
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 -

Fizzco Limited (Registered number: 06254152)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2023 407,250 188,087 - 595,337
Additions - 7,000 80,960 87,960
At 31 May 2024 407,250 195,087 80,960 683,297
DEPRECIATION
At 1 June 2023 8,384 157,144 - 165,528
Charge for year 6,288 15,485 9,445 31,218
At 31 May 2024 14,672 172,629 9,445 196,746
NET BOOK VALUE
At 31 May 2024 392,578 22,458 71,515 486,551
At 31 May 2023 398,866 30,943 - 429,809

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 105,557 16,767
Amounts owed by group undertakings 146,353 146,353
Other debtors 61,134 79,349
313,044 242,469

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 147,714 83,035
Hire purchase contracts 42,799 -
Trade creditors 273,318 298,549
Taxation and social security 111,892 51,324
Other creditors 90,030 104,438
665,753 537,346

The bank overdraft is secured by a fixed and floating charge over the assets of the company and a personal guarantee.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 235,513 256,064
Hire purchase contracts 93,950 -
329,463 256,064

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 150,890 161,450

Fizzco Limited (Registered number: 06254152)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 264,790 285,341
Hire purchase contracts 136,749 -
401,539 285,341

The Bounce Back Loan scheme is secured against a guarantee by the bank in which the bank guarantees the repayment of the loan if the client was to default on this loan.

A Mortgage loan was taken in 2022 and this is repayable over fifteen years. The loan is secured on the company's freehold property.

The Hire Purchase contracts are secured against the assets to which they relate to.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,065 Ordinary £1 1,065 1,065