LIBERTAS BRANDS LTD

Company Registration Number:
14912698 (England and Wales)

Unaudited statutory accounts for the year ended 30 June 2024

Period of accounts

Start date: 4 June 2023

End date: 30 June 2024

LIBERTAS BRANDS LTD

Contents of the Financial Statements

for the Period Ended 30 June 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

LIBERTAS BRANDS LTD

Directors' report period ended 30 June 2024

The directors present their report with the financial statements of the company for the period ended 30 June 2024

Principal activities of the company

The principal activity of the company during the year was generating income from the Fuggler license.



Directors

The director shown below has held office during the whole of the period from
4 June 2023 to 30 June 2024

Stuart James Grant


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
24 January 2025

And signed on behalf of the board by:
Name: Stuart James Grant
Status: Director

LIBERTAS BRANDS LTD

Profit And Loss Account

for the Period Ended 30 June 2024

13 months to 30 June 2024


£
Turnover: 759,326
Cost of sales: ( 362,646 )
Gross profit(or loss): 396,680
Administrative expenses: ( 864,785 )
Operating profit(or loss): (468,105)
Interest receivable and similar income: 70,350
Interest payable and similar charges: ( 28,111 )
Profit(or loss) before tax: (425,866)
Tax: 99,315
Profit(or loss) for the financial year: (326,551)

LIBERTAS BRANDS LTD

Balance sheet

As at 30 June 2024

Notes 13 months to 30 June 2024


£
Fixed assets
Intangible assets: 3 829,561
Tangible assets: 4 103,662
Total fixed assets: 933,223
Current assets
Debtors: 5 1,367,410
Cash at bank and in hand: 1,303,442
Total current assets: 2,670,852
Prepayments and accrued income: 88,837
Creditors: amounts falling due within one year: 6 ( 302,034 )
Net current assets (liabilities): 2,457,655
Total assets less current liabilities: 3,390,878
Accruals and deferred income: ( 3,717,419 )
Total net assets (liabilities): (326,541)
Capital and reserves
Called up share capital: 10
Profit and loss account: (326,551 )
Total Shareholders' funds: ( 326,541 )

The notes form part of these financial statements

LIBERTAS BRANDS LTD

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 24 January 2025
and signed on behalf of the board by:

Name: Stuart James Grant
Status: Director

The notes form part of these financial statements

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents amounts receivable for license fees, net of value-added tax (VAT). License fees are recognised when the customer's contractual obligations have been fulfilled, and it is probable that the economic benefits will flow to the business. Revenue is recognised at a point in time or over time, depending on the terms of the agreement.

    Tangible fixed assets depreciation policy

    Motor vehicles are depreciated on a straight-line basis over a period of 5 years. The depreciation charge is calculated by allocating the cost of the asset, less any residual value, evenly over its useful life. The depreciation expense is recognised in the profit and loss account.

    Intangible fixed assets amortisation policy

    License fees capitalised as intangible assets are amortised on a straight-line basis over their estimated useful life, typically 10 years. The amortisation expense is recognised in the profit and loss account and reviewed annually for any indicators of impairment.

    Other accounting policies

    Foreign Currency Policy The company's functional and presentational currency is GBP. Transactions denominated in foreign currencies, are initially recorded at the exchange rate prevailing on the transaction date. Monetary assets and liabilities denominated in foreign currencies are retranslated at the balance sheet date using the exchange rate prevailing at that date. Exchange differences arising on settlement or retranslation are recognised in the profit and loss account.

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

  • 2. Employees

    13 months to 30 June 2024
    Average number of employees during the period 2

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Intangible assets

Goodwill Other Total
Cost £ £ £
Additions 896,823 896,823
Disposals
Revaluations
Transfers
At 30 June 2024 896,823 896,823
Amortisation
Charge for year 67,262 67,262
On disposals
Other adjustments
At 30 June 2024 67,262 67,262
Net book value
At 30 June 2024 829,561 829,561

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 115,180 115,180
Disposals
Revaluations
Transfers
At 30 June 2024 115,180 115,180
Depreciation
Charge for year 11,518 11,518
On disposals
Other adjustments
At 30 June 2024 11,518 11,518
Net book value
At 30 June 2024 103,662 103,662

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

5. Debtors

13 months to 30 June 2024
£
Trade debtors 18,977
Other debtors 1,348,433
Total 1,367,410

LIBERTAS BRANDS LTD

Notes to the Financial Statements

for the Period Ended 30 June 2024

6. Creditors: amounts falling due within one year note

13 months to 30 June 2024
£
Trade creditors 301,900
Other creditors 134
Total 302,034