Acorah Software Products - Accounts Production 16.3.350 false true 31 August 2023 1 September 2022 false 1 September 2023 31 August 2024 31 August 2024 13574789 Mr Miguel Moreno Yes Mate Drinks Corporation true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13574789 2023-08-31 13574789 2024-08-31 13574789 2023-09-01 2024-08-31 13574789 frs-core:CurrentFinancialInstruments 2024-08-31 13574789 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-01 2024-08-31 13574789 frs-core:OtherResidualIntangibleAssets 2024-08-31 13574789 frs-core:OtherResidualIntangibleAssets 2023-09-01 2024-08-31 13574789 frs-core:OtherResidualIntangibleAssets 2023-08-31 13574789 frs-core:PlantMachinery 2024-08-31 13574789 frs-core:PlantMachinery 2023-09-01 2024-08-31 13574789 frs-core:PlantMachinery 2023-08-31 13574789 frs-core:ShareCapital 2024-08-31 13574789 frs-core:RetainedEarningsAccumulatedLosses 2024-08-31 13574789 frs-bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 13574789 frs-bus:FilletedAccounts 2023-09-01 2024-08-31 13574789 frs-bus:SmallEntities 2023-09-01 2024-08-31 13574789 frs-bus:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 13574789 frs-bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 13574789 1 2023-09-01 2024-08-31 13574789 frs-bus:Director1 2023-09-01 2024-08-31 13574789 frs-countries:EnglandWales 2023-09-01 2024-08-31 13574789 2022-08-31 13574789 2023-08-31 13574789 2022-09-01 2023-08-31 13574789 frs-core:CurrentFinancialInstruments 2023-08-31 13574789 frs-core:ShareCapital 2023-08-31 13574789 frs-core:RetainedEarningsAccumulatedLosses 2023-08-31
Registered number: 13574789
Yes Mate Drinks Ltd
Unaudited Financial Statements
For The Year Ended 31 August 2024
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 13574789
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 17,958 24,915
Tangible Assets 5 1,224 1,681
19,182 26,596
CURRENT ASSETS
Stocks 6 34,086 67,828
Debtors 7 116,549 503,003
Cash at bank and in hand 143,331 496,930
293,966 1,067,761
Creditors: Amounts Falling Due Within One Year 8 (2,469,506 ) (2,244,866 )
NET CURRENT ASSETS (LIABILITIES) (2,175,540 ) (1,177,105 )
TOTAL ASSETS LESS CURRENT LIABILITIES (2,156,358 ) (1,150,509 )
NET LIABILITIES (2,156,358 ) (1,150,509 )
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account (2,156,360 ) (1,150,511 )
SHAREHOLDERS' FUNDS (2,156,358) (1,150,509)
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For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Miguel Moreno
Director
21st August 2025
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Yes Mate Drinks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13574789 . The registered office is Regus One Capital Quarter, 1 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets include website development costs. These have been amortised to the profit and loss account over the estimated economic life of 5 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% at cost
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 September 2023 34,790
As at 31 August 2024 34,790
Amortisation
As at 1 September 2023 9,875
Provided during the period 6,957
As at 31 August 2024 16,832
Net Book Value
As at 31 August 2024 17,958
As at 1 September 2023 24,915
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 September 2023 1,829
As at 31 August 2024 1,829
...CONTINUED
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Depreciation
As at 1 September 2023 148
Provided during the period 457
As at 31 August 2024 605
Net Book Value
As at 31 August 2024 1,224
As at 1 September 2023 1,681
6. Stocks
2024 2023
£ £
Stock 34,086 67,828
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,523 299
Amounts owed by group undertakings 97,701 477,356
Other debtors 12,325 25,348
116,549 503,003
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 88,295 145,766
Amounts owed to participating interests 2,356,043 2,039,616
Other creditors 24,075 59,484
Taxation and social security 1,093 -
2,469,506 2,244,866
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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10. Related Party Transactions
Yes Mate Drinks ApS: A Danish company under common control.
As at the balance sheet date, and included in other debtors is £97,701 (2023: £477,356) owed from Yes Mate Drinks ApS. This amount is non-interest bearing and repayable on demand.
As at the balance sheet date, and included in trade creditors is £5,685 (2023: £Nill) owed to Yes Mate Drinks ApS.
Included in the profit and loss are expenses of £449 (2023: £Nil) from Yes Mate Drinks ApS.
Yes Mate Drinks Corporation: The US-based parent company.
As at the balance sheet date, and included in other creditors is £2,356,043 (2023: £2,037,116) owed to Yes Mate Drinks Corporation. This amount is non-interest bearing and repayable on demand.
11. Ultimate Controlling Party
The company's ultimate controlling party is Yes Mate Drinks Corporation by virtue of the ownership of 100% of the issued share capital in the company.
12. Going Concern
As at the balance sheet date the company has net liabilities. These financial statements have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to support the company for the foreseeable future.
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