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Registered Number: 10843995
England and Wales

 

 

 

HYDRATE DRINKS GROUP LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Hydrate Drinks Group Limited for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Hydrate Drinks Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hydrate Drinks Group Limited and state those matters that we have agreed to state to the Board of Hydrate Drinks Group Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hydrate Drinks Group Limited and its members as a body for our work or for this report.

It is your duty to ensure that Hydrate Drinks Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Loss of Hydrate Drinks Group Limited. You consider that Hydrate Drinks Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hydrate Drinks Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
Allazo Ltd
2 Claridge Court
Lower Kings Road
Berkhamsted
HP4 2AF
07 May 2025
1
 
 
Notes
 
31/12/2024
£
  31/12/2023
£
Fixed assets      
Intangible fixed assets 3 5,569,885    3,281,569 
Tangible fixed assets 4 8,143,933    8,517,642 
Investments 5   1 
13,713,818    11,799,212 
Current assets      
Stocks 1,090,367    1,119,804 
Debtors 1,344,962    1,746,351 
Cash at bank and in hand 217,943    31,600 
2,653,272    2,897,755 
Creditors: amount falling due within one year (5,372,430)   (4,753,393)
Net current assets (2,719,158)   (1,855,638)
 
Total assets less current liabilities 10,994,660    9,943,574 
Creditors: amount falling due after more than one year (1,652,706)   (1,936,481)
Provisions for liabilities (1,127,061)   (996,196)
Net assets 8,214,893    7,010,897 
 

Capital and reserves
     
Called up share capital 6 4,935    427 
Share premium account 15,206,107    13,470,643 
Profit and loss account (6,996,149)   (6,460,173)
Shareholders' funds 8,214,893    7,010,897 
 


For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 07 May 2025 and were signed on its behalf by:


-------------------------------
Ian Minton
Director
2
General Information
Hydrate Drinks Group Limited is a private company, limited by shares, registered in England and Wales, registration number 10843995, registration address Unit 4, Mersey Reach, Dunnings Bridge Road, Liverpool, L30 6UZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Turnover includes revenue earned from the sale of goods, the policies adopted are as follows:
  • Sale of goods
Sale of goods revenue is recognised at the point of sale, which is usually where the customer has taken delivery of the goods, the risks and rewards are transferred to the customer and there is a valid sales contract. Amounts disclosed as revenue are net of sales returns and trade discounts. 
  • Other revenue
Other revenue is recognised when it is received or when the right to receive payment is established.
  • Accrued income
The company will accrue income when there is believed to be a legal right to the income, there is little uncertaintly that it will be received and the amount recoverable can be reliably estimated. 
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the income statement on a straight line basis.
Research and development expenditure
Expenditure during the research phase of a project is recognised as an expense when incurred.


Development costs are capitalised when technical feasibility studies identify that the project will develop an intangible asset that will be completed and available for use or sale, that there are adequate technical, financial and other resources to complete the development, that it will deliver future economic benefits and these benefits can be measured reliably.



Development costs have a finite life and are amortised on a systematic basis matched to the future economic benefits over the useful life of the project.

Development costs are in relation to the creation of new recipes and products.  Costs include materials, employee costs and external costs necessary to the projects.  Amortisation is calculated on a straight line basis over 10 years which is considered a reasonable lifeline for the economic benefit. 


Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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 or refundable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. Deferred tax assets and deferred tax liabilities are offset only if the company has legal right to set off against current tax liabilities and if they both relate to income tax levied by the same taxation authority on the same entity.

Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the income statement in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over 10 years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Leasehold improvements 10% Straight Line
Motor Vehicles 20% Straight Line
Plant and Machinery 10% Reducing Balance
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Reducing Balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from the factor.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
Financial instruments
  • Financial assets
Basic financial assets, including trade and other debtors, inter-group loans, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Assets within one year are not amortised.
  • Financial liabilities


Basic financial liabilities, including trade and other creditors, bank loans and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Significant Judgements and Estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The following are significant management judgements in applying the accounting policies of the group that have the most significant effect on the financial statements.

  • Intangible assets
Management monitors progress of internal research and development projects. Significant judgement is required in distinguishing research from the development phase. Development costs are recognised as an asset when all the criteria are met, whereas research costs are expensed as incurred.

Amortisation is charged on development intangibles over their deemed useful life. This period has been determined via a review of each project, considering both historic and future factors. Amortisation only starts once the devellopment is in operation.  The directors believe the amortisation periods applied appropriately reflect the estimated useful life of the assets.
  • Compensation of lost revenue
The Directors have included accrued income for an insurance claim relating to loss of earnings.  This has been included based on reliable estimates of the claim which they beleive will be successful.   The claim relates to the accoutning period and future periods and is currently under assessment.  Calculations of lost revenue have been used and the lower end of the potential compensation accrued in these accounts.  
  • Going concern
The Directors have reviewed the companys budgets and forecasts for beyond 12 months from the date of this report, its liquid resources, medium term plans and potential fund raising.  The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and, accordingly, consider that it is appropriate to adopt the going concern basis in preparing these financial statements.


2.

Average number of employees

Average number of employees during the year was 44 (2023 : 27).
3.

Intangible fixed assets

Cost Research and Development   Total
  £   £
At 01 January 2024 4,451,023    4,451,023 
Additions 2,795,037    2,795,037 
Disposals  
At 31 December 2024 7,246,060    7,246,060 
Amortisation
At 01 January 2024 1,169,454    1,169,454 
Charge for year 506,721    506,721 
On disposals  
At 31 December 2024 1,676,175    1,676,175 
Net book values
At 31 December 2024 5,569,885    5,569,885 
At 31 December 2023 3,281,569    3,281,569 

During the year the company identified research and development projects and with the assistance of tax specialists calculated the relevant costs incurred.  In line with the company's accounting policies and in light of the lasting economic value these projects will create the projects have been capitalised.  The costs capitalised were:

  • Direct costs £1,505,986
  • Staff costs £696,380
  • Directors remuneration £234,629
  • General overheads £358,043

4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Leasehold improvements   Motor Vehicles   Total
  £   £   £   £   £   £
At 01 January 2024 7,846,679    39,797    89,104    2,198,479      10,174,059 
Additions 122,583    5,537    34,492    18,176    442,919    623,707 
Disposals          
At 31 December 2024 7,969,262    45,334    123,596    2,216,655    442,919    10,797,766 
Depreciation
At 01 January 2024 982,326    21,174    33,620    619,297      1,656,417 
Charge for year 694,934    5,574    24,470    220,764    51,674    997,416 
On disposals          
At 31 December 2024 1,677,260    26,748    58,090    840,061    51,674    2,653,833 
Net book values
Closing balance as at 31 December 2024 6,292,002    18,586    65,506    1,376,594    391,245    8,143,933 
Opening balance as at 01 January 2024 6,864,353    18,623    55,484    1,579,182      8,517,642 

The net book value of Plant and Machinery, Leasehold improvements, Motor Vehicles includes £ 6,950,102 (2023 £3,633,278) in respect of assets leased under finance leases or hire purchase contracts.

5.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 January 2024 1    1 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
Revaluations (1)   (1)
At 31 December 2024  
Investments relates to 100% holding of Liverpool Canning Ltd a company registered in England and Wales, during the period the subsidiary was dormant, the accounts are not consolidated. 
The investment was written off during the year as a result of the subsidiary entering administration. 

6.

Share Capital

Allotted, called up and fully paid
31/12/2024
£
  31/12/2023
£
49,357,930 Ordinary shares of £0.0001 each 4,936    427 
4,936    427 
Prior year there were 4,274,705 Ordinary shares of £0.0001 each.

During the year the following share allotments occurred
  • 15 August 2024 3,458 Ordinary shares of £0.0001 each
  • 3 October 2024 24,677,012 Ordinary shares of £0.0001 each
  • 14 November 2024 20,402,755 Ordinary shares of £0.0001 each

7.

Prior Period Adjustment

A prior period adjustment has been made, increasing fixed assets by £519,511 in relation to unrecognised hire purchase liabilities.   There was no effect on the reserves of the company and represented a correction of classification. 
3