Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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3,690 | 4,845 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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219,385 | 206,436 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (140,723) | (74,628) | ||
Total assets less current liabilities | (137,033) | (69,783) | ||
Creditors: amounts falling due after more than one year | 7 | (
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Net liabilities | (
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account | (
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Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Meanwhile Drinks Ltd (registered number:
B Schroder
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Meanwhile Drinks Ltd (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 69c Shrubland Road, London, E8 4NL, 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 £.
The financial statements have been prepared on a going concern basis even though a loss has been made in the period and the company has net liabilities. The company relies on support from its directors. The directors have indicated that this will not be required to be repaid until such time as the company has funds to do so.
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.
Development costs |
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Trademarks, patents and licences |
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Vehicles |
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Fixtures and fittings |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Classification
The company hold the following financial instruments:
- Short term trade and other debtors and creditors; and
- Bank loans: and
- Cash and bank balances
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes a party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company's obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Development costs | Trademarks, patents and licences |
Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 July 2023 |
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At 30 June 2024 |
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Accumulated amortisation | |||||
At 01 July 2023 |
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Charge for the financial year |
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At 30 June 2024 |
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Net book value | |||||
At 30 June 2024 |
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At 30 June 2023 |
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Vehicles | Fixtures and fittings | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 July 2023 |
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At 30 June 2024 |
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Accumulated depreciation | |||||
At 01 July 2023 |
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Charge for the financial year |
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At 30 June 2024 |
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Net book value | |||||
At 30 June 2024 |
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At 30 June 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Other taxation and social security |
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Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Bank loans |
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