Registered number
11943844
Drink System Services Limited
Filleted Accounts
31 March 2025
Mattison & Co
Accountants
70 High Street
Chislehurst
Kent
BR7 5AQ
Drink System Services Limited
Registered number: 11943844
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 8,620 12,431
Current assets
Stocks - 5,560
Debtors 4 14,941 19,267
Cash at bank and in hand 5,282 6,925
20,223 31,752
Creditors: amounts falling due within one year 5 (22,434) (25,861)
Net current (liabilities)/assets (2,211) 5,891
Total assets less current liabilities 6,409 18,322
Creditors: amounts falling due after more than one year 6 (5,950) (13,910)
Net assets 459 4,412
Capital and reserves
Called up share capital 5 5
Profit and loss account 454 4,407
Shareholders' funds 459 4,412
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D. Seary
Director
Approved by the board on 23 May 2025
Drink System Services Limited
Notes to the Accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment Equally over 2 years
Vehicles Equally over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 3,750 20,718 24,468
Additions 666 - 666
At 31 March 2025 4,416 20,718 25,134
Depreciation
At 1 April 2024 3,750 8,287 12,037
Charge for the year 333 4,144 4,477
At 31 March 2025 4,083 12,431 16,514
Net book value
At 31 March 2025 333 8,287 8,620
At 31 March 2024 - 12,431 12,431
4 Debtors 2025 2024
£ £
Trade debtors 7,796 9,460
Other debtors 7,145 9,807
14,941 19,267
5 Creditors: amounts falling due within one year 2025 2024
£ £
Bounce Back Loan 4,000 4,000
Obligations under finance lease and hire purchase contracts 3,960 3,960
Trade creditors 34 -
Taxation and social security costs 13,839 17,300
Other creditors 601 601
22,434 25,861
6 Creditors: amounts falling due after one year 2025 2024
£ £
Bounce Bank Loan 1,000 5,000
Obligations under finance lease and hire purchase contracts 4,950 8,910
5,950 13,910
7 Other information
Drink System Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
70 High Street
Chislehurst
Kent
BR7 5AQ
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