Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31false112023-06-01falseNo description of principal activity12truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11260611 2023-06-01 2024-05-31 11260611 2022-06-01 2023-05-31 11260611 2024-05-31 11260611 2023-05-31 11260611 2022-06-01 11260611 c:Director1 2023-06-01 2024-05-31 11260611 c:Director2 2023-06-01 2024-05-31 11260611 c:RegisteredOffice 2023-06-01 2024-05-31 11260611 d:PlantMachinery 2023-06-01 2024-05-31 11260611 d:PlantMachinery 2024-05-31 11260611 d:PlantMachinery 2023-05-31 11260611 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11260611 d:OfficeEquipment 2023-06-01 2024-05-31 11260611 d:OfficeEquipment 2024-05-31 11260611 d:OfficeEquipment 2023-05-31 11260611 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11260611 d:ComputerEquipment 2023-06-01 2024-05-31 11260611 d:ComputerEquipment 2024-05-31 11260611 d:ComputerEquipment 2023-05-31 11260611 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11260611 d:OwnedOrFreeholdAssets 2023-06-01 2024-05-31 11260611 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-05-31 11260611 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-05-31 11260611 d:CurrentFinancialInstruments 2024-05-31 11260611 d:CurrentFinancialInstruments 2023-05-31 11260611 d:Non-currentFinancialInstruments 2024-05-31 11260611 d:Non-currentFinancialInstruments 2023-05-31 11260611 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 11260611 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 11260611 d:ShareCapital 2023-06-01 2024-05-31 11260611 d:ShareCapital 2024-05-31 11260611 d:ShareCapital 2022-06-01 2023-05-31 11260611 d:ShareCapital 2023-05-31 11260611 d:ShareCapital 2022-06-01 11260611 d:SharePremium 2023-06-01 2024-05-31 11260611 d:SharePremium 2024-05-31 11260611 d:SharePremium 2022-06-01 2023-05-31 11260611 d:SharePremium 2023-05-31 11260611 d:SharePremium 2022-06-01 11260611 d:CapitalRedemptionReserve 2023-06-01 2024-05-31 11260611 d:CapitalRedemptionReserve 2024-05-31 11260611 d:CapitalRedemptionReserve 2022-06-01 2023-05-31 11260611 d:CapitalRedemptionReserve 2023-05-31 11260611 d:CapitalRedemptionReserve 2022-06-01 11260611 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 11260611 d:RetainedEarningsAccumulatedLosses 2024-05-31 11260611 d:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 11260611 d:RetainedEarningsAccumulatedLosses 2023-05-31 11260611 d:RetainedEarningsAccumulatedLosses 2022-06-01 11260611 c:OrdinaryShareClass1 2023-06-01 2024-05-31 11260611 c:OrdinaryShareClass1 2024-05-31 11260611 c:OrdinaryShareClass1 2023-05-31 11260611 c:OrdinaryShareClass2 2023-06-01 2024-05-31 11260611 c:OrdinaryShareClass2 2024-05-31 11260611 c:OrdinaryShareClass2 2023-05-31 11260611 c:FRS102 2023-06-01 2024-05-31 11260611 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11260611 c:FullAccounts 2023-06-01 2024-05-31 11260611 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11260611 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-06-01 2024-05-31 11260611 2 2023-06-01 2024-05-31 11260611 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-06-01 2024-05-31 11260611 e:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 11260611









LONDON BOTANICAL DRINKS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

 
LONDON BOTANICAL DRINKS LIMITED
 
 
COMPANY INFORMATION


Directors
P Mathew 
E Khabensky 




Registered number
11260611



Registered office
Fox Court
14 Gray's Inn Road

London

England

WC1X 8HN




Accountants
Donald Reid Limited

1010 Eskdale Road

Winnersh

Wokingham

England

RG41 5TS





 
LONDON BOTANICAL DRINKS LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 12


 
LONDON BOTANICAL DRINKS LIMITED
REGISTERED NUMBER: 11260611

BALANCE SHEET
AS AT 31 MAY 2024

2024
As restated 2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,421
16,166

Tangible assets
 5 
22,670
20,311

  
36,091
36,477

Current assets
  

Stocks
 6 
328,930
320,173

Debtors: amounts falling due after more than one year
 7 
2,550
-

Debtors: amounts falling due within one year
 7 
317,486
286,561

Cash at bank and in hand
 8 
561,936
2,094,984

  
1,210,902
2,701,718

Creditors: amounts falling due within one year
 9 
(290,888)
(256,325)

Net current assets
  
 
 
920,014
 
 
2,445,393

Total assets less current liabilities
  
956,105
2,481,870

  

Net assets
  
956,105
2,481,870


Capital and reserves
  

Called up share capital 
 10 
101
101

Share premium account
  
6,674,173
6,388,873

Capital redemption reserve
  
25
25

Profit and loss account
  
(5,718,194)
(3,907,129)

  
956,105
2,481,870


Page 1

 
LONDON BOTANICAL DRINKS LIMITED
REGISTERED NUMBER: 11260611
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 on 10 January 2025.




P Mathew
E Khabensky
Director
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
LONDON BOTANICAL DRINKS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


As restated Called up share capital
As restated Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 June 2022
100
4,651,374
25
(2,362,457)
2,289,042


Comprehensive income for the year

Loss for the year
-
-
-
(1,544,672)
(1,544,672)
Total comprehensive income for the year
-
-
-
(1,544,672)
(1,544,672)


Contributions by and distributions to owners

Shares issued during the year
1
1,737,499
-
-
1,737,500



At 1 June 2023
101
6,388,873
25
(3,907,129)
2,481,870


Comprehensive income for the year

Loss for the year
-
-
-
(1,811,065)
(1,811,065)
Total comprehensive income for the year
-
-
-
(1,811,065)
(1,811,065)


Contributions by and distributions to owners

Transfer to/from profit and loss account
-
285,300
-
-
285,300


Total transactions with owners
-
285,300
-
-
285,300


At 31 May 2024
101
6,674,173
25
(5,718,194)
956,105


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

London Botanical Drinks Limited is a private company limited by shares. The company was incorporated in the United Kingdom and is registered in England and Wales. The company registration number is 11260611. The registered office address is Fox Court, 14 Gray's Inn Road, London, England, WC1X 8HN.

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

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.6

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.

Page 5

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.7

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.
The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).
Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.
Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

 
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.

 
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.

Page 6

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

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
-
33%
Office equipment
-
33%
Computer equipment
-
33%

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.

 
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.

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of
Page 7

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)


2.14
Financial instruments (continued)

Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet 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.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

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


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 11).

Page 8

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Intangible assets




Website

£



Cost


At 1 June 2023
30,674


Additions
2,500



At 31 May 2024

33,174



Amortisation


At 1 June 2023
14,508


Charge for the year on owned assets
5,245



At 31 May 2024

19,753



Net book value



At 31 May 2024
13,421



At 31 May 2023
16,166



Page 9

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

5.


Tangible fixed assets





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2023
30,925
-
20,653
51,578


Additions
13,138
2,332
5,829
21,299


Disposals
(1,410)
-
(3,514)
(4,924)



At 31 May 2024

42,653
2,332
22,968
67,953



Depreciation


At 1 June 2023
20,548
-
10,719
31,267


Charge for the year on owned assets
12,370
130
5,667
18,167


Disposals
(1,409)
-
(2,742)
(4,151)



At 31 May 2024

31,509
130
13,644
45,283



Net book value



At 31 May 2024
11,144
2,202
9,324
22,670



At 31 May 2023
10,377
-
9,934
20,311


6.


Stocks

2024
2023
£
£

Raw materials and consumables
179,021
211,633

Finished goods and goods for resale
149,909
108,540

328,930
320,173


Page 10

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
2,550
-

2,550
-


2024
2023
£
£

Due within one year

Trade debtors
248,688
233,721

Other debtors
35,458
9,705

Prepayments and accrued income
33,340
43,135

317,486
286,561



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
561,936
2,094,984

561,936
2,094,984



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
110,266
122,454

Other taxation and social security
-
756

Other creditors
5,912
5,155

Accruals and deferred income
174,710
127,960

290,888
256,325


Page 11

 
LONDON BOTANICAL DRINKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

10.


Share capital

2024
As restated 2023
£
£
Allotted, called up and fully paid



10,000,000 (2023 - 10,000,000) Ordinary shares of £0.000010 each
100.000
100.000
6,500,000 (2023 - 6,500,000) Preference shares of £0.0000001 each -
0.650
0.650

100.650

100.650



11.


Share-based payments

London Botanical Drinks Limited has an unapproved options scheme which is available to UK employees who work for the Company and satisfy the qualifying conditions.
The directors believe the charge in respect of these options will be immaterial, therefore no charge has been recognised.


12.


Prior year adjustment

The prior year comparatives have been restated in order to correct the share capital and share premium in line with Companies House. This adjustment has led to an increase in share capital of £1 and a decrease in share premium of £1. This adjustment made no impact on the profit and loss reserve brought forward.
The directors have made this restatement to better enable the financial statements to show a true and fair view.


13.


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 £35,097 (2023: £28,874). Contributions totalling £5,727 (2023: £4,924) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 12