Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falseThe principal activity of the company was that of the wholesale of wine, beer, spirits and other alcoholic beverages3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09777338 2023-04-01 2024-03-31 09777338 2022-04-01 2023-03-31 09777338 2024-03-31 09777338 2023-03-31 09777338 c:Director1 2023-04-01 2024-03-31 09777338 d:CurrentFinancialInstruments 2024-03-31 09777338 d:CurrentFinancialInstruments 2023-03-31 09777338 d:Non-currentFinancialInstruments 2024-03-31 09777338 d:Non-currentFinancialInstruments 2023-03-31 09777338 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09777338 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09777338 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 09777338 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09777338 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 09777338 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09777338 d:ShareCapital 2024-03-31 09777338 d:ShareCapital 2023-03-31 09777338 d:SharePremium 2024-03-31 09777338 d:SharePremium 2023-03-31 09777338 d:RetainedEarningsAccumulatedLosses 2024-03-31 09777338 d:RetainedEarningsAccumulatedLosses 2023-03-31 09777338 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09777338 c:OrdinaryShareClass1 2024-03-31 09777338 c:OrdinaryShareClass1 2023-03-31 09777338 c:FRS102 2023-04-01 2024-03-31 09777338 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09777338 c:FullAccounts 2023-04-01 2024-03-31 09777338 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09777338 2 2023-04-01 2024-03-31 09777338 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09777338














OKOWITA VODKA LIMITED

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
OKOWITA VODKA LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 8


 
OKOWITA VODKA LIMITED
REGISTERED NUMBER:09777338

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

  

Current assets
  

Stocks
 5 
19,852
21,510

Debtors: amounts falling due within one year
 6 
32,251
41,085

Cash at bank and in hand
 7 
2,005
4,002

  
54,108
66,597

Creditors: amounts falling due within one year
 8 
(669,354)
(549,175)

Net current liabilities
  
 
 
(615,246)
 
 
(482,578)

Total assets less current liabilities
  
(615,246)
(482,578)

  

Creditors: amounts falling due after more than one year
 9 
(557)
(963)

  
(615,803)
(483,541)

  

  

Net assets excluding pension asset
  
(615,803)
(483,541)

Net liabilities
  
(615,803)
(483,541)


Capital and reserves
  

Called up share capital 
 11 
1,500
1,500

Share premium account
  
149,813
149,813

Profit and loss account
  
(767,116)
(634,854)

  
(615,803)
(483,541)


1

 
OKOWITA VODKA LIMITED
REGISTERED NUMBER:09777338
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers 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 director acknowledges his 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 profit and loss account 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 by: 




J F M Woroniecki
Director

Date: 10 February 2025

The notes on pages 3 to 8 form part of these financial statements.

2

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Okowita Vodka Limited is a private company, limited by shares, registered in England and Wales, registration number 09777338
The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. 
The principal place of business is 74 Blackfriars Road, London, SE1 8HA.
The principal activity of the company was that of the wholesale of wine, beer, spirits and other alcoholic beverages.
 
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

Going concern

The financial statements have been prepared on the going concern basis as the director has confirmed he will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the director is satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is pound sterling.

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

 
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of the wholesale of wine, beer, spirits and other alcoholic beverages net of Value Added Tax and trade discounts.

3

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS102. Grants of a revenue nature are recognised in the profit and loss account in the same period as the related expenditure. Grants in respect of the Covid Job Retention Scheme and the Bounce Back Loan Scheme are included in the other operating income.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

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.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

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.

4

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

 Taxation

Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.11

 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. 

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.

 
2.12

 Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.13

 Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. 

 
2.14

 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.

5

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Other operating income

2024
2023
£
£

Government grants receivable
-
577

-
577


During the year the company received £Nil (2023 - £577) under the Coronavirus Job Retention Scheme, a government grant that allows employers to place staff on temporary leave and claim the cost of up to 80% of employees' payroll cost. There are no unfulfilled conditions or other contingencies attached to the grant.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 3).


5.


Stocks

2024
2023
£
£

Finished goods
19,852
21,510



6.


Debtors

2024
2023
£
£


Trade debtors
31,746
40,603

Prepayments
505
482

32,251
41,085



7.


Cash

2024
2023
£
£

Cash at bank and in hand
2,005
4,002


6

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
406
397

Trade creditors
33,441
19,337

Other taxation and social security
3,519
2,137

Other creditors
626,816
522,048

Accruals
5,172
5,256

669,354
549,175


The following liabilities were secured:

2024
2023
£
£



Coronavirus Bounce Back Loan
406
397

Details of security provided:

The bank loan of £406 (2023 - £397) included in creditors due within one year is a Coronavirus
Bounce Back Loan, 100% guaranteed by the government.


9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
557
963


The following liabilities were secured:

2024
2023
£
£



Coronavirus Bounce Back Loan
557
963

Details of security provided:

The bank loan of £557 (2023 - £963) included in creditors due after more than one year is a
Coronavirus Bounce Back Loan, 100% guaranteed by the government.

7

 
OKOWITA VODKA LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
406
397

Amounts falling due 1-2 years

Bank loans
417
406

Amounts falling due 2-5 years

Bank loans
141
557


964
1,360



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



150,000 (2023 - 150,000) ordinary shares of £0.01 each
1,500
1,500



12.


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 £985 (2023 - £979).
Contributions totalling £88 (2023 - £Nil) were payable to the fund at the balance sheet date and are
included in creditors.


13.


Related party transactions

As at the balance sheet date, the company owed the director £269,733 (2023 - £269,733). This is an interest free loan and repayable on demand.
 
8