Reformed Spirits Company Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 11631519

Reformed Spirits Company Limited

Filleted Financial Statements

31 December 2024

Reformed Spirits Company Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Statement of changes in equity	3

Notes to the financial statements	4

Reformed Spirits Company Limited

Officers and Professional Advisers

The board of directors	Mr A M Versteegh
	Mr C J A Ehrenkrona
	Mr C S G Magnusson

Registered office	Second Floor, Riverside Offices
	26 St George's Quay
	Lancaster
	Lancashire
	England
	LA1 1RD

Auditor	Riverside Accountancy Lancaster Limited
	Chartered accountants & statutory auditor
	Suite 2, 2 Mannin Way
	Lancaster Business Park
	Caton Road
	Lancaster
	LA1 3SU

Reformed Spirits Company Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Current assets

Stocks		86,448	143,216
Debtors	4	50,100	38,057
Cash at bank and in hand		1,234	3,288
		---------	---------
		137,782	184,561

Creditors: amounts falling due within one year	5	957,308	806,653
		---------	---------
Net current liabilities		819,526	622,092
		---------	---------
Total assets less current liabilities		( 819,526)	( 622,092)
		---------	---------
Net liabilities		( 819,526)	( 622,092)
		---------	---------

Capital and reserves

Called up share capital	6	100	100
Profit and loss account		( 819,626)	( 622,192)
		---------	---------
Shareholders deficit		( 819,526)	( 622,092)
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements were approved by the board of directors and authorised for issue on 29 September 2025 , and are signed on behalf of the board by:

Mr C S G Magnusson

Director

Company registration number: 11631519

Reformed Spirits Company Limited

Statement of Changes in Equity

Year ended 31 December 2024

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 January 2023	100	( 524,246)	( 524,146)

Loss for the year		( 97,946)	( 97,946)
	----	---------	---------
Total comprehensive income for the year	–	( 97,946)	( 97,946)

At 31 December 2023	100	( 622,192)	( 622,092)

Loss for the year		( 197,434)	( 197,434)
	----	---------	---------
Total comprehensive income for the year	–	( 197,434)	( 197,434)

	----	---------	---------
At 31 December 2024	100	( 819,626)	( 819,526)
	----	---------	---------

Reformed Spirits Company Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Second Floor, Riverside Offices, 26 St George's Quay, Lancaster, Lancashire, LA1 1RD, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Employee numbers

The average number of employees for the year was 3.

Going concern

During the past couple of years the company has been developing its brand and enhancing its value. It is the intention of the company to continue these activities and accordingly will in a least the medium term, continue to be dependent upon the support of its parent company. Its parent company has undertaken not to seek repayment until at least 31 December 2025 unless the company is in a position to do so. The company's cash flow forecast for the period to 31 December 2025 suggests that the company will require additional support for at least that period. The company has received assurances from its parent that it anticipates being able to meet any funding requirements in that period. Based on these undertakings the directors consider its appropriate to prepare the financial statements on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Debtors

	2024	2023
	£	£
Trade debtors	42,908	2,138
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	118
Other debtors	7,192	35,801
	--------	--------
	50,100	38,057
	--------	--------

5. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	11,014	7,552
Amounts owed to group undertakings and undertakings in which the company has a participating interest	943,744	793,955
Other creditors	2,550	5,146
	---------	---------
	957,308	806,653
	---------	---------

6. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----

7. Summary audit opinion

The auditor's report dated 29 September 2025 was unqualified .

The senior statutory auditor was Penelope Bowden ACA , for and on behalf of Riverside Accountancy Lancaster Limited .

8. Related party transactions

Within Creditors there are loans from a related company of £943,744 (2023 - £793,955). There are also trade creditor amounts totalling £2,943 (2023 - £942) for a related company. During the year interest was charged on these loans of £16,542 (2023 - £14,941). Within Debtors there is a balance of £772 (2023 - £nil) for trade debtors which relates to a connected company, and a balance of £100 (2023 - £100) in Other Debtors for a related company. During the year recharges were charged to a connected company of £4,258 (2023 - £4,898).

9. Controlling party

The immediate and immediate parent company is Living Capital Exploration & Renewable AB a company incorporated in Sweden. The ultimate controlling party is Andreas Versteegh , a national and resident of Sweden. Mr Versteegh owns and controls 100% of Living Capital Exploration & Renewable AB.