Company registration number 03864219 (England and Wales)
METRO DRINKS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
METRO DRINKS LIMITED
CONTENTS
Page
Directors' report
1 - 3
Balance sheet
4
Notes to the financial statements
5 - 9
METRO DRINKS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

Highlights from the Directors’ Report

 

Financial results

The inflationary turmoil of 2023 was followed by a relative period of price stability in most quarters. Consumer price inflation fell to low single digits, but UK GDP growth was less than 1%. Against this backdrop, the Company’s performance was satisfactory with sales levels and operating margins being broadly in line with the prior year.

 

82% of the business’ export trade was transacted through the Company’s sister company in the Netherlands and is therefore not recorded in the accounts of Metro Drinks Limited as it is not part of a group for consolidation purposes.

 

Outlook for 2025

The impact of the fiscal policies put in place by the Government in its October 2024 budget make the Directors cautious about trading levels in 2025. Most business leaders have commented that the changes to Employers’ National Insurance from April 2025 will result in a slow-down in hiring and an increase in redundancies, which together could reduce the size of the country’s workforce. The changes to Employers’ National Insurance will be acutely felt by the hospitality sector which relies on a large proportion of part-time workers which will be caught under the new rates. Additionally, the increases in the National Minimum Wage and Business Rates will put further pressure on the viability of some hospitality venues, unless the increased costs can be adequately passed on to consumers.

 

In 2025, the Government has enacted its new legislation to pass some of the cost of Local Authorities’ collection of household packaging waste back to the producers that put packaging onto the market. The new scheme is called Extended Producer Responsibility (EPR). Liability for EPR fees will fall in October 2025 for the period April 2025 to March 2026, and such liability is based on packaging placed on the market by producers in the 12 months to March 2025. The fees payable by producers will not be published until June or July 2025, some 3 to 4 months after producers are accountable for them. These fees are expected to add up to 5% to the company’s operating costs.

 

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows

P J Bendit

F K Bendit

 

Voluntary streamlined energy and carbon report

Reporting period

For the third year, the Company is reporting the energy consumption of the Company and its operations. This report applies to the year ended 31st December 2024.

 

Independent assessment

The report has been independently prepared and records the Company’s Greenhouse Gas (GHG) emissions in accordance with the UK Government’s ‘Environmental Reporting Guidelines: Including Streamlined Energy and Reporting Guidance’.

 

METRO DRINKS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -

Voluntary streamlined energy and carbon report (continued)

The GHG emissions have been assessed using the internationally recognised WRI GHG Protocol – Corporate Accounting and Reporting Standard, using the 2024 emission conversion factors published by the UK Government departments DEFRA and BEIS.

 

Organisational boundaries

The Operational Control approach has been selected as being the most appropriate for the established organisational boundaries.

 

Operational scopes

Only Scope 1 and 2 emissions are required to be disclosed in this report, but the Company has voluntarily included the Scope 3 emissions that are generated by the Company’s third-party operators and therefore indirectly and de facto produced by the Company. We believe it is correct and appropriate to include them as they make up the bulk of the Company’s activities over which it has influence. These Scope 3 emissions are principally as follows:

 

Upstream emissions:        Third party road, sea and rail freight emissions

                Business travel

                Emissions associated with energy supply (WTT & T&D)

Downstream emissions:        Third party warehousing

Third party delivery of finished goods to customers

 

Carbon Neutral certification    

Total emissions assessed amount to 296.65 Tonnes for the 12 months ended 31st December 2024, which compares with 330.14 Tonnes during the prior year. The company has offset 100% of these emissions through the carbon offset scheme as shown below:    

 

Breakdown of total emissions for the year ended 31st December

 

Scope

Activity

2024 Tonnes CO2e

2023 Tonnes CO2e

2024 Investment in Carbon offset

Scope 1

Company vehicle travel

7.84

6.50

297 Tonnes of Carbon Offset by investing in a South American rainforest protection project.

Scope 2

Purchase of electricity and heat (Location based)

1.91

1.95

 

Scope 3

Downstream – delivery of goods to customers

86.662

88.730

Third party warehousing

200.234

232.957

Upstream – Third party transportation and storage

Upstream – Business travel and miscellaneous

 

Total emissions

296.65

330.12

 

Intensity ratios

 

2024 Tonnes CO2e

2023 Tonnes CO2e

Notes

1

GHG per 10,000 litres of drinks sold

1.595

1.653

All goods sold are liquid

2

GHG per 10,000 consumer units sold

0.396

0.413

All goods are for consumption

3

GHG per £10,000 spent on goods and operations

0.533

0.649

Product, distribution, warehousing, marketing, and administration

4

GHG per employee

37.081

41.267

All staff are full time

Total Energy Consumption

39,684 kWh

34,453.6 kWh

 

 

 

 

METRO DRINKS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Principal risks and uncertanties

Energy efficiency actions

Only 3.29% of the Company’s emissions fall under Scopes 1 and 2, with 96.71% falling under Scope 3, the majority of which are emitted by the third parties engaged by the Company in the course of its business.

 

The ability of the Company to achieve a future significant reduction in its Scope 1 and 2 emissions is restricted by current local planning and conservation laws (eg installation of solar panels on or within the curtilage of listed buildings). It is likely that only small step changes will be achieved over the coming years.

 

In so far as Scope 3 emissions are concerned, the Company continues to find ways to optimise its logistics to reduce the number of “food miles” (and associated emissions) involved in the transportation of materials and finished goods. These include sourcing raw materials from as close to the UK as possible, with currently 44% being grown in the UK and 40% in Europe, leaving just 16% from other continents.

On behalf of the board
P J Bendit
Director
27 May 2025
METRO DRINKS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 4 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
26,095
19,152
Current assets
Stocks
1,721,561
2,392,785
Debtors
5
1,408,513
1,248,251
Cash at bank and in hand
35,946
77,994
3,166,020
3,719,030
Creditors: amounts falling due within one year
6
(1,174,219)
(1,672,652)
Net current assets
1,991,801
2,046,378
Total assets less current liabilities
2,017,896
2,065,530
Creditors: amounts falling due after more than one year
7
(271,151)
(331,270)
Provisions for liabilities
(1,706)
(1,706)
Net assets
1,745,039
1,732,554
Capital and reserves
Called up share capital
16,305
8,942
Share premium account
2,544
-
0
Profit and loss reserves
1,726,190
1,723,612
Total equity
1,745,039
1,732,554

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 27 May 2025 and are signed on its behalf by:
P J Bendit
Director
Company Registration No. 03864219
METRO DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
1
Accounting policies
Company information

Metro Drinks Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Workshop, Endlewick House, Arlington, Polegate, East Sussex, United Kingdom, BN26 6RU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.3
Turnover

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

1.4
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 equipment
20% on cost
Fixtures and fittings
33% on cost
Computers
33% on cost
Motor vehicles
25% on cost
1.5
Stocks

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

1.6
Taxation

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

 

Current or deferred taxation assets and liabilities are not discounted

Current tax

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.

METRO DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
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.

1.7
Foreign exchange

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
8
8
METRO DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2024
27,684
28,035
17,958
43,470
117,147
Additions
-
0
-
0
1,621
16,599
18,220
Disposals
-
0
(550)
(2,317)
(14,695)
(17,562)
At 31 December 2024
27,684
27,485
17,262
45,374
117,805
Depreciation and impairment
At 1 January 2024
26,293
26,586
14,404
30,712
97,995
Depreciation charged in the year
1,011
812
3,004
6,450
11,277
Eliminated in respect of disposals
-
0
(550)
(2,317)
(14,695)
(17,562)
At 31 December 2024
27,304
26,848
15,091
22,467
91,710
Carrying amount
At 31 December 2024
380
637
2,171
22,907
26,095
At 31 December 2023
1,391
1,449
3,554
12,758
19,152
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
633,976
697,522
Other debtors
226,986
42,479
860,962
740,001
2024
2023
Amounts falling due after more than one year:
£
£
Corporation tax recoverable
137,551
128,250
Other debtors
410,000
380,000
547,551
508,250
Total debtors
1,408,513
1,248,251

Included within trade debtors above is an amount of £625,946 (2023: £559,868) covered under an invoice discounting facility.

 

METRO DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 8 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
258,644
230,117
Trade creditors
577,669
540,492
Corporation tax
62,817
257,737
Other taxation and social security
101,161
121,966
Other creditors
14,972
216,965
Accruals and deferred income
158,956
305,375
1,174,219
1,672,652

Included with bank loans and overdrafts above are advances under an invoice discounting facility of £11,790 (2023: £204,728) which are secured on the trade debtors of the company. See other debtors note above for details of current year invoice discounting facility.

Included with bank loans and overdrafts is £110,199 (2023: £162,535) of Coronavirus Business Interruption Loans.

7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
271,151
131,270
Other borrowings
-
0
200,000
271,151
331,270

Other borrowings comprised an unsecured loan to the company from the ultimate controlling party P J Bendit which was repaid during the year.  During the year, interest paid on this loan was £8,100.

 

Included with bank loans and overdrafts is £20,833 (2023: £131,270) of Coronavirus Business Interruption Loans.

 

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
John Howard
Statutory Auditor:
Azets Audit Services
METRO DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 9 -
9
Related party transactions

A director's loan issued to P Bendit and F Bendit increased by £30,000 during the year. The balance as at the year end remains £410,000.

 

The company was owed £510 by P Bendit (2023: owed £558) as at the year end.

 

During the year the company invoiced Folkington's Drinks B.V., a company in which P Bendit and F Bendit are also shareholders, a total of £82,489 (2023: £65,624). During the year the company incurred costs of £336,641 (2023: £66,820) in relation to stock purchases. At the balance sheet date, the company was owed £176,140 (2023: £84,039) from Folkington's Drinks B.V.

10
Parent company

The ultimate controlling party is P Bendit.

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