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REGISTERED NUMBER: 09435379 (England and Wales)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

IDENTITY DRINKS BRANDS LIMITED

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


IDENTITY DRINKS BRANDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: M Gouze
A Gabriel
D L Cripps



REGISTERED OFFICE: 50 Seymour Street
London
W1H 7JG



REGISTERED NUMBER: 09435379 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Philip Jones



AUDITORS: Orcom Civvals Audit Limited
Chartered Accountants and
Statutory Auditors
50 Seymour Street
London
W1H 7JG

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 - 1,500
Tangible assets 5 784 784
784 2,284

CURRENT ASSETS
Stocks 285,530 298,087
Debtors 6 693,244 357,500
Cash at bank and in hand 286,698 48,211
1,265,472 703,798
CREDITORS
Amounts falling due within one year 7 (849,237 ) (692,988 )
NET CURRENT ASSETS 416,235 10,810
TOTAL ASSETS LESS CURRENT
LIABILITIES

417,019

13,094

CREDITORS
Amounts falling due after more than
one year

8

(402,494

)

-
NET ASSETS 14,525 13,094

CAPITAL AND RESERVES
Called up share capital 1,230 1,230
Share premium 9 241,220 241,220
Retained earnings 9 (227,925 ) (229,356 )
SHAREHOLDERS' FUNDS 14,525 13,094

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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 March 2025 and were signed on its behalf by:





M Gouze - Director


IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


1. STATUTORY INFORMATION

Identity Drinks Brands Limited 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.

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being fully amortised in the current year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - Depreciated over 5 years

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.


IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Going concern
The Company is owned and supported by its Parent, Cognac Ferrand SAS, a company registered in France.
As such the directors are of the opinion that with appropriate support from the parent, the company will be able to meet its financial obligations for a period of 12 months from date of signature.
The company's controlling entity has confirmed its willingness to support for the foreseeable future.
The directors believe that the company's future plans will be viable and that the company will have sufficient cash resources for the next twelve months.
On this basis, the directors are of the opinion that the use of the going concern basis is appropriate in the preparation of these financial statements

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 11 ) .

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2023
and 31 March 2024 1,500
AMORTISATION
Charge for year 1,500
At 31 March 2024 1,500
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,500

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023
and 31 March 2024 5,529
DEPRECIATION
At 1 April 2023
and 31 March 2024 4,745
NET BOOK VALUE
At 31 March 2024 784
At 31 March 2023 784

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 564,592 334,209
Other debtors 6,226 12,469
Prepayments 122,426 10,822
693,244 357,500

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,824 32,824
Trade creditors 666,561 434,873
Tax (1 ) -
Social security and other taxes 12,287 18,147
VAT 109,020 150,312
Other creditors 38,546 29,466
Directors' current accounts - 21,694
Accrued expenses - 5,672
849,237 692,988

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Loan 402,494 -

The company has taken a loan from Cognac Ferrand who holds 100% of the shares of the company for a term of 8 years at a rate of 5.5% commencing from 1 March 2024.
It has a moratorium of one year on both principal and interest. Monthly repayments start from year 2 over the remaining term of the loan.

9. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (229,356 ) 241,220 11,864
Profit for the year 1,431 1,431
At 31 March 2024 (227,925 ) 241,220 13,295

IDENTITY DRINKS BRANDS LIMITED (REGISTERED NUMBER: 09435379)

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


10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for Qualified opinion
Because we were appointed auditors of the Company during the year ended 31 March 2024, we were not able to observe the counting of the physical inventories at the beginning of that period or satisfy ourselves concerning those inventory quantities by alternative means. Since opening inventories affect the determination of the results of operations, we were unable to determine whether adjustments to the results of operations and opening retained earnings might be necessary for the year ended 31 March 2023.
Our audit opinion on the financial statements for the year ended 31 March 2023 is modified accordingly. Our opinion on the current year's financial statements is also modified because of the possible effect of this matter on the comparability of the current period's figures and the corresponding figures.

Philip Jones (Senior Statutory Auditor)
for and on behalf of Orcom Civvals Audit Limited

11. RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption available under FRS 102 from the disclosures relating to transactions with other group companies.

12. CONTROLLING PARTY

The Companies controlling party is its holding company, Cognac Ferrand SAS, a company registered in France.