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REGISTERED NUMBER: 11266941 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

SAPLING SPIRITS LTD

SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


SAPLING SPIRITS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr Ivo Edmund Devereux
Mr Edward Theo Faulkner
Mr Timothy Hayward





REGISTERED OFFICE: Second Home
68 Hanbury Street
London
E1 5JL





REGISTERED NUMBER: 11266941 (England and Wales)





ACCOUNTANTS: Syers McGill
9 Kerry Street
Horsforth
Leeds
West Yorkshire
LS18 4AW

SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,302 1,374

CURRENT ASSETS
Stocks 5 376,097 252,663
Debtors 6 381,042 291,456
Cash at bank 197,279 163,081
954,418 707,200
CREDITORS
Amounts falling due within one year 7 510,827 205,789
NET CURRENT ASSETS 443,591 501,411
TOTAL ASSETS LESS CURRENT
LIABILITIES

448,893

502,785

CREDITORS
Amounts falling due after more than one year 8 50,611 42,237
NET ASSETS 398,282 460,548

CAPITAL AND RESERVES
Called up share capital 10 3 3
Share premium 11 2,053,578 1,350,861
Retained earnings 11 (1,655,299 ) (890,316 )
SHAREHOLDERS' FUNDS 398,282 460,548

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

BALANCE SHEET - continued
31 MARCH 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 December 2024 and were signed on its behalf by:





Mr Ivo Edmund Devereux - Director


SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Sapling Spirits Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 5 ) .

SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2023 2,149 - 2,149
Additions - 5,113 5,113
At 31 March 2024 2,149 5,113 7,262
DEPRECIATION
At 1 April 2023 775 - 775
Charge for year 538 647 1,185
At 31 March 2024 1,313 647 1,960
NET BOOK VALUE
At 31 March 2024 836 4,466 5,302
At 31 March 2023 1,374 - 1,374

5. STOCKS
31.3.24 31.3.23
£    £   
Stocks 376,097 252,663

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 321,984 286,339
Prepayments and other debtors 59,058 5,117
381,042 291,456

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 181,578 7,412
Trade creditors 245,804 110,212
Social security and other taxes 29,090 51,100
Other creditors 32,540 2,521
Directors' current accounts 6,609 6,669
Accrued expenses 15,206 27,875
510,827 205,789

SAPLING SPIRITS LTD (REGISTERED NUMBER: 11266941)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 50,611 42,237

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 190,052 -

The above loan amount is secured by way of a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
3,249,891 Ordinary £0.000001 3 3

On 24 August 2023, 30,664 ordinary shares of £0.0001 each were sub divided into 3,066,400 ordinary shares of £0.000001 each.

During the year 178,229 shares were issued and paid for at a total premium of £702,717.

11. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (890,316 ) 1,350,861 460,545
Deficit for the year (764,983 ) (764,983 )
Cash share issue - 702,717 702,717
At 31 March 2024 (1,655,299 ) 2,053,578 398,279

12. ULTIMATE CONTROLLING PARTY

The company is under the ultimate control of its directors.