Company registration number 09596756 (England and Wales)
TD4 MILKSHAKES LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TD4 MILKSHAKES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 9
TD4 MILKSHAKES LIMITED
BALANCE SHEET
AS AT
25 SEPTEMBER 2024
25 September 2024
- 1 -
25 September 2024
27 September 2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
138,042
195,253
Current assets
Stocks
46,220
62,214
Debtors falling due after more than one year
4
-
0
5,500
Debtors falling due within one year
4
163,079
160,561
Cash at bank and in hand
410,050
271,018
619,349
499,293
Creditors: amounts falling due within one year
5
(616,586)
(1,053,980)
Net current assets/(liabilities)
2,763
(554,687)
Total assets less current liabilities
140,805
(359,434)
Provisions for liabilities
(124,813)
(31,813)
Net assets/(liabilities)
15,992
(391,247)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
15,991
(391,248)
Total equity
15,992
(391,247)

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 June 2025 and are signed on its behalf by:
D O'Sullivan
Director
Company Registration No. 09596756
TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

TD4 Milkshakes Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Pavilion, Abbotts Moss Hall, Tarporley Road, Oakmere, Northwich, CW8 2ES. The nature of the company's operations and its principal activity is given in the directors' report.

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 £1.

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

1.2
Going concern

The company has net current assets of £2,763 (2023: £554,687 net current liabilities) and net assets of £15,992 (2023: true£391,247 net liabilities).

An assessment is made of the cash flows of the group, which the company is a member of, as cash is managed by a centralised treasury function who ensure all parts of the group have sufficient cash to meet their immediate needs.

The group is trading well and is looking at opportunities for further expansion. Based on this, the group has performed an assessment of the most likely future cashflows based on the latest available information and concluded that in the scenario, the group would have sufficient available cashflows to meet its liabilities as they fall due for a period of at least twelve months from the signing date of the financial statements. Therefore the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.3
Reporting period

The annual financial statements are compiled for the period to 25 September 2024, being the closest Wednesday to the 30 September 2024 accounting reference date. The prior period financial statements are compiled for the period to 27 September 2023, being the closest Wednesday to the 30 September 2023 accounting reference date.

1.4
Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

 

Sale of goods

 

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Period of the lease
Plant and machinery
2-10 years
Computer equipment
3-5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, those overheads that have been incurred in bringing the stocks to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of income because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the statement of income, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.13
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.14
Retirement benefits

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

 

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.15
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.16

Exceptional items

Exceptional items are disclosed separately in the financial statements where it is necessary to do so to provide further understanding of the financial performance of the company. They are material items of income or expenditure which are of exceptional size or incidence, and are presented within the line items to which they best relate.

2
Employees

The average monthly number of persons employed by the company during the period was:

Period ended 25 September 2024
Period ended 27 September 2023
Number
Number
Total
73
76
3
Tangible fixed assets
Leasehold improvements
Plant and machinery
Computer equipment
Total
£
£
£
£
Cost
At 28 September 2023
725,447
356,661
21,936
1,104,044
Additions
-
0
-
0
4,306
4,306
Disposals
-
0
(23,465)
(316)
(23,781)
Transfers
(62,893)
(13,788)
(275)
(76,956)
At 25 September 2024
662,554
319,408
25,651
1,007,613
Depreciation and impairment
At 28 September 2023
558,415
332,795
17,581
908,791
Depreciation charged in the period
12,526
18,779
3,131
34,436
Eliminated in respect of disposals
-
0
(21,411)
(289)
(21,700)
Transfers
(40,557)
(11,286)
(113)
(51,956)
At 25 September 2024
530,384
318,877
20,310
869,571
Carrying amount
At 25 September 2024
132,170
531
5,341
138,042
At 27 September 2023
167,032
23,866
4,355
195,253

Assets with a net book value of £25,000 within leasehold improvements, plant and machinery and computer equipment, were transferred to fellow subsidiary undertaking Boost Juice Bars (UK) Limited.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
- 7 -
4
Debtors
25 September 2024
27 September 2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
22,619
19,000
Other debtors
140,460
141,561
163,079
160,561
25 September 2024
27 September 2023
Amounts falling due after more than one year:
£
£
Other debtors
-
0
5,500
5
Creditors: amounts falling due within one year
25 September 2024
27 September 2023
£
£
Trade creditors
176,264
224,814
Amounts owed to group undertakings
281,222
654,286
Corporation tax
15,638
-
0
Other taxation and social security
6,098
11,494
Other creditors
137,364
163,386
616,586
1,053,980
6
Retirement benefit schemes
Period ended 25 September 2024
Period ended 27 September 2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
4,908
7,082

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions amounting to £439 (2023: £371) were payable by the company to the fund at the reporting date and are included in creditors.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
- 8 -
7
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 is unqualified and includes the following:

Opinion

In our opinion the financial statements:

Senior Statutory Auditor:
Jean Ellis BA FCA CTA
Statutory Auditor:
DSG Audit
Date of audit report:
27 June 2025
8
Financial commitments, guarantees and contingent liabilities

The company has granted a charge to BGF Nominees Limited to secure a guarantee in respect of borrowings owed to BGF Nominees Limited due from the company, and other group undertakings TD4 Cookies Limited, Boost Juice Bars (UK) Limited and TD4 Brands Limited.

 

The directors confirm that there are no other commitments, guarantees, or contingent liabilities as at 25 September 2024.

9
Events after the reporting date

TD4 Holdings Limited was incorporated on 22 October 2024 and purchased the majority of the share capital of the parent company, TD4 Brands Limited. The ultimate controlling party of TD4 Holdings Limited is H A O'Sullivan, owning 100% of the share capital.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

25 September 2024
27 September 2023
£
£
Total
774,627
1,089,768
11
Related party transactions

The company has taken advantage of the exemption conferred by section 33.1A of FRS102 not to disclose transactions with other wholly owned subsidiaries within the group as consolidated accounts, including the subsidiary undertakings, are publicly available.

TD4 MILKSHAKES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 25 SEPTEMBER 2024
- 9 -
12
Parent company

The company is a subsidiary of TD4 Brands Limited which was the ultimate parent company at the financial period end, and is incorporated in England and Wales and its registered office is Abbots Moss Hall, Oakmere, Cheshire, CW8 2ES.

 

The details of the ultimate parent company and ultimate controlling party post period end can be seen in note 9.

 

The largest and smallest group in which the results of the company are consolidated is that headed by TD4 Brands Limited, incorporated in England and Wales. The consolidated accounts of the company are available to the public and may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. No other group accounts include the results of the company.

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