Registered number
SC673584
Kocktail Club Ltd
Unaudited Filleted Accounts
30 September 2024
Kocktail Club Ltd
Registered number: SC673584
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 3,597 4,556
Tangible assets 5 26,347 18,340
29,944 22,896
Current assets
Stocks 33,754 41,144
Debtors 6 302,355 197,075
Cash at bank and in hand 64,108 72,489
400,217 310,708
Creditors: amounts falling due within one year 7 (213,006) (175,093)
Net current assets 187,211 135,615
Total assets less current liabilities 217,155 158,511
Creditors: amounts falling due after more than one year 8 - (64,914)
Net assets 217,155 93,597
Capital and reserves
Called up share capital 1 1
Share premium 661,700 499,925
Profit and loss account (444,546) (406,329)
Shareholders' funds 217,155 93,597
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.
Emil Evans-Stickland
Director
Approved by the board on 31 May 2025
Kocktail Club Ltd
Notes to the Accounts
for the year ended 30 September 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years on a reducing balance basis
Fixtures, fittings, tools and equipment over 5 years on a reducing balance basis
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.
2 Prior year figures restated
The filed accounts for the period ended 30th September 2023 did not include a provision for deferred tax on the accumulated taxable loss or the advanced claim of capital allowances through the annual investment allowance. The comparative figure has been restated to show the effect of deferred tax as it should have been included in that year.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
4 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 4,796
At 30 September 2024 4,796
Amortisation
At 1 October 2023 240
Provided during the year 959
At 30 September 2024 1,199
Net book value
At 30 September 2024 3,597
At 30 September 2023 4,556
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and machinery etc Fixtures and fittings Total
£ £ £
Cost
At 1 October 2023 21,773 317 22,090
Additions 2,573 11,260 13,833
At 30 September 2024 24,346 11,577 35,923
Depreciation
At 1 October 2023 3,724 26 3,750
Charge for the year 4,031 1,795 5,826
At 30 September 2024 7,755 1,821 9,576
Net book value
At 30 September 2024 16,591 9,756 26,347
At 30 September 2023 18,049 291 18,340
6 Debtors 2024 2023
£ £
Trade debtors 194,129 89,295
Prepayments - 8,514
Deferred tax asset 104,251 95,312
Other debtors 3,975 3,954
302,355 197,075
7 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,544 28,498
Trade creditors 42,287 54,792
Accruals 1,165 24,995
Taxation and social security costs 11,875 3,163
Other creditors 153,135 63,645
213,006 175,093
8 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 64,914
9 Other information
Kocktail Club Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 Dalhousie Terrace
Morningside
Edinburgh
EH10 5NE
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