Caseware UK (AP4) 2024.0.164 2024.0.164 2024-11-302024-11-30112023-12-01falseNo description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07065004 2023-12-01 2024-11-30 07065004 2022-12-01 2023-11-30 07065004 2024-11-30 07065004 2023-11-30 07065004 c:Director1 2023-12-01 2024-11-30 07065004 d:OfficeEquipment 2023-12-01 2024-11-30 07065004 d:OfficeEquipment 2024-11-30 07065004 d:OfficeEquipment 2023-11-30 07065004 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-01 2024-11-30 07065004 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-11-30 07065004 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-11-30 07065004 d:CurrentFinancialInstruments 2024-11-30 07065004 d:CurrentFinancialInstruments 2023-11-30 07065004 d:Non-currentFinancialInstruments 2024-11-30 07065004 d:Non-currentFinancialInstruments 2023-11-30 07065004 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 07065004 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 07065004 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 07065004 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 07065004 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-11-30 07065004 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 07065004 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-11-30 07065004 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 07065004 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-11-30 07065004 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-11-30 07065004 d:ShareCapital 2024-11-30 07065004 d:ShareCapital 2023-11-30 07065004 d:RetainedEarningsAccumulatedLosses 2024-11-30 07065004 d:RetainedEarningsAccumulatedLosses 2023-11-30 07065004 c:FRS102 2023-12-01 2024-11-30 07065004 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 07065004 c:FullAccounts 2023-12-01 2024-11-30 07065004 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 07065004 2 2023-12-01 2024-11-30 07065004 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-12-01 2024-11-30 07065004 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure

Registered number: 07065004









TEQUILAS OF MEXICO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
TEQUILAS OF MEXICO LIMITED
REGISTERED NUMBER: 07065004

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
                                                                    Note
£
£

Fixed assets
  

Intangible assets
 4 
624
709

Tangible assets
 5 
-
-

  
624
709

Current assets
  

Stocks
  
24,000
71,000

Debtors: amounts falling due within one year
 6 
128,068
23,783

Cash at bank and in hand
 7 
62,892
72,153

  
214,960
166,936

Creditors: amounts falling due within one year
 8 
(69,962)
(92,121)

Net current assets
  
 
 
144,998
 
 
74,815

Creditors: amounts falling due after more than one year
 9 
(28,143)
(33,952)

Net assets
  
117,479
41,572


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
117,478
41,571

  
117,479
41,572


Page 1

 
TEQUILAS OF MEXICO LIMITED
REGISTERED NUMBER: 07065004
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


C Rocos
Director

Date: 22 August 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Tequilas of Mexico Limited ("the Company") is a private company, limited by shares and incorporated in England and Wales. Its registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, England, E11 1GA. 
The principal activity of the Company was that of the importation, distribution and promotion of Tequila and associated products.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

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:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Trademarks
-
10
years

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

  
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of income and retained earnings.

  
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 5

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Intangible assets




Trademarks

£



Cost


At 1 December 2023
851



At 30 November 2024

851



Amortisation


At 1 December 2023
142


Charge for the year on owned assets
85



At 30 November 2024

227



Net book value



At 30 November 2024
624



At 30 November 2023
709



Page 6

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 December 2023
727



At 30 November 2024

727



Depreciation


At 1 December 2023
727



At 30 November 2024

727



Net book value



At 30 November 2024
-



At 30 November 2023
-

Page 7

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Debtors

2024
2023
£
£


Trade debtors
127,503
20,958

Other debtors
565
2,825

128,068
23,783



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
62,892
72,153



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,835
5,708

Trade creditors
-
25,689

Corporation tax
36,687
-

Other taxation and social security
730
304

Other creditors
8,930
41,140

Accruals and deferred income
17,780
19,280

69,962
92,121



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
28,143
33,952


Page 8

 
TEQUILAS OF MEXICO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,835
5,708

Amounts falling due 1-2 years

Bank loans
5,983
5,853

Amounts falling due 2-5 years

Bank loans
18,873
18,461

Amounts falling due after more than 5 years

Bank loans
3,287
9,638

33,978
39,660


 
Page 9