REGISTERED NUMBER: 09338013 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

FESTINA DRINKS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R Gorst

Mrs G Gorst

SECRETARY:

R Gorst

REGISTERED OFFICE:

44 Mortimer Lane

Fair Oak

Eastleigh

Hampshire

SO50 7BD

REGISTERED NUMBER:

09338013 (England and Wales)

ACCOUNTANTS:

David Shores & Co Ltd

36a Station Road

New Milton

Hampshire

BH25 6JX

FIXED ASSETS

Intangible assets

4

12,349

14,752

Tangible assets

5

178,740

250,857

191,089

265,609

CURRENT ASSETS

Stocks

79,967

73,409

Debtors

6

299,385

213,109

Cash at bank and in hand

252,571

265,355

631,923

551,873

CREDITORS

Amounts falling due within one year

7

414,664

424,847

NET CURRENT ASSETS

217,259

127,026

TOTAL ASSETS LESS CURRENT LIABILITIES

408,348

392,635

CREDITORS

Amounts falling due after more than one year

8

(61,249

)

(100,527

)

PROVISIONS FOR LIABILITIES

(44,495

)

(61,983

)

NET ASSETS

302,604

230,125

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

302,504

230,025

SHAREHOLDERS' FUNDS

302,604

230,125

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2025 and were signed on its behalf by:

R Gorst - Director

1.	STATUTORY INFORMATION

Festina Drinks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts receivable for goods net of VAT and trade discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the cost incurred or to be incurred in respect of the transaction can be measured reliably.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2018 and 2022, is being amorised evenly over the estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 machinery

-

15% on cost

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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 the profit and loss account.

Stocks

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

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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.

Provisions

Provisions (i.e. 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.

Government grants accounting policy

Revenue grants are recognised on an accrual's basis over the periods in which the company recognises the related costs.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

24,030

AMORTISATION

At 1 January 2024

9,278

Amortisation for year

2,403

At 31 December 2024

11,681

NET BOOK VALUE

At 31 December 2024

12,349

At 31 December 2023

14,752

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

699,681

2,572

126,921

1,789

830,963

Additions

4,932

-

14,665

-

19,597

Disposals

-

-

(18,036

)

-

(18,036

)

At 31 December 2024

704,613

2,572

123,550

1,789

832,524

DEPRECIATION

At 1 January 2024

502,882

2,572

72,863

1,789

580,106

Charge for year

73,295

-

14,466

-

87,761

Eliminated on disposal

-

-

(14,083

)

-

(14,083

)

At 31 December 2024

576,177

2,572

73,246

1,789

653,784

NET BOOK VALUE

At 31 December 2024

128,436

-

50,304

-

178,740

At 31 December 2023

196,799

-

54,058

-

250,857

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

295,692

202,143

Other debtors

3,693

10,966

299,385

213,109

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

40,326

47,020

Hire purchase contracts

12,052

11,352

Trade creditors

227,114

201,847

Taxation and social security

106,194

110,156

Other creditors

28,978

54,472

414,664

424,847

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

36,030

76,469

Hire purchase contracts

25,219

24,058

61,249

100,527

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

76,356

123,489

The bank loan and overdrafts are secured by way of a fixed and floating charge over the company's assets. The Hire Purchase creditors are secured by the assets being purchased with the loans.

10.	RELATED PARTY DISCLOSURES

At the year end, the company owed an amount of £17,488 (2023: £24,499) to the directors of the company. The loan is provided interest free and is unsecured. There are no formal terms and conditions regarding repayment of the loan.