Silverfin false false 29/02/2024 01/03/2023 29/02/2024 T C Gamborg 15/07/2019 M P Krone 15/07/2019 13 February 2025 The principal activity of the company is the manufacturing and retailing of alcoholic beverages. 12102039 2024-02-29 12102039 bus:Director1 2024-02-29 12102039 bus:Director2 2024-02-29 12102039 2023-02-28 12102039 core:CurrentFinancialInstruments 2024-02-29 12102039 core:CurrentFinancialInstruments 2023-02-28 12102039 core:ShareCapital 2024-02-29 12102039 core:ShareCapital 2023-02-28 12102039 core:SharePremium 2024-02-29 12102039 core:SharePremium 2023-02-28 12102039 core:RetainedEarningsAccumulatedLosses 2024-02-29 12102039 core:RetainedEarningsAccumulatedLosses 2023-02-28 12102039 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-02-28 12102039 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2024-02-29 12102039 bus:OrdinaryShareClass1 2024-02-29 12102039 2023-03-01 2024-02-29 12102039 bus:FilletedAccounts 2023-03-01 2024-02-29 12102039 bus:SmallEntities 2023-03-01 2024-02-29 12102039 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 12102039 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12102039 bus:Director1 2023-03-01 2024-02-29 12102039 bus:Director2 2023-03-01 2024-02-29 12102039 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-03-01 2024-02-29 12102039 2022-03-01 2023-02-28 12102039 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-03-01 2024-02-29 12102039 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 12102039 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12102039 (England and Wales)

SKAL DRINKS SA LIMITED

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

SKAL DRINKS SA LIMITED

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

SKAL DRINKS SA LIMITED

BALANCE SHEET

As at 29 February 2024
SKAL DRINKS SA LIMITED

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 396
0 396
Current assets
Stocks 4 667 35,833
Debtors 5 102,576 26,733
Cash at bank and in hand 927 53,714
104,170 116,280
Creditors: amounts falling due within one year 6 ( 138,035) ( 138,399)
Net current liabilities (33,865) (22,119)
Total assets less current liabilities (33,865) (21,723)
Net liabilities ( 33,865) ( 21,723)
Capital and reserves
Called-up share capital 7 108 108
Share premium account 104,614 104,614
Profit and loss account ( 138,587 ) ( 126,445 )
Total shareholders' deficit ( 33,865) ( 21,723)

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Skal Drinks SA Limited (registered number: 12102039) were approved and authorised for issue by the Board of Directors on 13 February 2025. They were signed on its behalf by:

T C Gamborg
Director
SKAL DRINKS SA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
SKAL DRINKS SA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

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.

General information and basis of accounting

Skal Drinks SA Limited (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 Lowin House, Tregolls Road, Truro, TR1 2NA, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £33,865.
The Company is supported through loans from the directors amounting to £78,374 (2023 - £78,374). The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises of the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

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.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 3 years straight line
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Classification
The company holds the following financial instruments:

Short term trade and other debtors and creditors; and
Cash and bank balances.

All financial instruments are classified as basic.

Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Intangible assets

Website costs Total
£ £
Cost
At 01 March 2023 1,174 1,174
At 29 February 2024 1,174 1,174
Accumulated amortisation
At 01 March 2023 778 778
Charge for the financial year 396 396
At 29 February 2024 1,174 1,174
Net book value
At 29 February 2024 0 0
At 28 February 2023 396 396

4. Stocks

2024 2023
£ £
Stocks 667 35,833

5. Debtors

2024 2023
£ £
Trade debtors 1,260 317
Other debtors 101,316 26,416
102,576 26,733

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 4,326 10,979
Amounts owed to directors 78,374 78,374
Accruals 2,426 1,800
Other taxation and social security 269 0
Other creditors 52,640 47,246
138,035 138,399

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,076,365 Ordinary shares of £ 0 each 108 108

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to Skal Ltd (a company under common control) (52,640) (47,246)
Amounts owed by Skal Drinks Pty Ltd (a company under common control) 61,910 23,353