Filleted

Registration number: 15565301

Circular Drinks Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

Circular Drinks Ltd

Company Information

Director

Mr P R C Gee

Registered office

Llanllyr Gardens Tregaron Lampeter Ceredigion SA48 8QB

Circular Drinks Ltd

(Registration number: 15565301)
Balance Sheet as at 31 March 2025

	Note	2025 £
Fixed assets
Intangible assets	5	549
Tangible assets	6	36,776
		37,325
Current assets
Stocks	7	2,628
Debtors	8	604
Cash at bank and in hand		1,335
		4,567
Creditors: Amounts falling due within one year	9	(57,101)
Net current liabilities		(52,534)
Net liabilities		(15,209)
Capital and reserves
Called up share capital		1
Profit and loss account		(15,210)
Total equity		(15,209)

For the financial period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 2 December 2025
 

......................................... Mr P R C Gee Director

Circular Drinks Ltd

Notes to the Financial Statements for the Period from 15 March 2024 to 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in Wales.

The address of its registered office is:
Llanllyr Gardens
Tregaron
Lampeter
Ceredigion
SA48 8QB

These financial statements were authorised for issue by the director on 2 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Circular Drinks Ltd

Notes to the Financial Statements for the Period from 15 March 2024 to 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & machinery	20% reducing balance

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Trademarks	10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Circular Drinks Ltd

Notes to the Financial Statements for the Period from 15 March 2024 to 31 March 2025

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4	Loss/profit before tax

Arrived at after charging/(crediting)

	2025 £
Depreciation expense	3,101
Amortisation expense	61

Circular Drinks Ltd

Notes to the Financial Statements for the Period from 15 March 2024 to 31 March 2025

5	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
Additions acquired separately	610	610
At 31 March 2025	610	610
Amortisation
Amortisation charge	61	61
At 31 March 2025	61	61
Carrying amount
At 31 March 2025	549	549

6	Tangible assets

	Plant and machinery £	Total £
Cost or valuation
Additions	39,877	39,877
At 31 March 2025	39,877	39,877
Depreciation
Charge for the period	3,101	3,101
At 31 March 2025	3,101	3,101
Carrying amount
At 31 March 2025	36,776	36,776

7

Stocks

	2025 £
Other inventories	2,628

Circular Drinks Ltd

Notes to the Financial Statements for the Period from 15 March 2024 to 31 March 2025

8

Debtors

	2025 £
Trade debtors	490
Other debtors	114
	604

9

Creditors

Creditors: amounts falling due within one year

	Note	2025 £
Due within one year
Directors' loan accounts	11	37,024
Other creditors		20,077
		57,101