Green Box Drinks Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Green Box Drinks Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07987763 . The registered office is Unit 1a Hazlewood Tower, Golborne Gardens, London, W10 5DT.

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. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. 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 and from the rendering of services. 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.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are website and brand development. Purchased intangible assets are initially recognised at cost. After recognition, intangible assets are measured at cost less any accumulated amortisation and impairment losses.They are amortised to the profit and loss account over their estimated economic life of 10 years.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined, which is the higher of its fair value less costs to sell and its value in use. Any impairment loss is recognised immediately as an expense within the profit and loss account.

2.5. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to the profit and loss account on a straight line basis over their expected useful economic lives.

2.6. 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:

ROU Asset (Vehicle)	2 years on a straight line basis
Office Equipment	4 years on a straight line basis
Computer Equipment	3 years on a straight line basis

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Green Box Drinks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.7. Leasing and Hire Purchase Contracts

The company recognises right-of-use ("ROU")assets and corresponding lease liabilities for all its lease agreements. The ROU assets are presented within fixed assets on the statement of financial position, consistent with how the underlying owned assets would be classified. Lease liabilities are presented as a seperate line item within creditors.

ROU assets are initially measured at cost, which principally comprises the initial measurement of the lease liability, plus any initial direct costs incurred and payments made at or before the lease commencement date, less any lease incentives received. They are subsequently measured at cost less accummulated depreciation and impairment losses. The ROU asset is depreciated on a straight-line basis over the shorter of the asset's useful life and the lease term.

2.8. 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 expenditure incurred in acquiring the stocks, production or conversion costs and other costs in bringing them to their existing location or condition.

2.9. Financial Instruments

Trade and other debtors / creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of instrument for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits.

2.10. 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.

2.11. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

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.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.12. 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.

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Green Box Drinks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.13. Impairment

Financial assets (including trade and other debtors)

A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably.

An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the estimated future cash flows discounted at the asset’s original effective interest rate. For financial instruments measured at cost less impairment an impairment is calculated as the difference between its carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the reporting date. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in profit or loss. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through the profit and loss account.

An impairment loss is recognised if the carrying amount of an asset exceeds its estimated recoverable amount. Impairment losses are recognised in the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

4. Intangible Assets

	Website	Development Costs	Total
	£	£	£
Cost
As at 1 April 2024	3,000	3,546	6,546

As at 31 March 2025	3,000	3,546	6,546

Amortisation
As at 1 April 2024	925	1,088	2,013
Provided during the period	300	354	654

As at 31 March 2025	1,225	1,442	2,667

Net Book Value
As at 31 March 2025	1,775	2,104	3,879

As at 1 April 2024	2,075	2,458	4,533

5. Tangible Assets

	ROU Asset (Vehicle)	Office Equipment	Computer Equipment	Total
	£	£	£	£
Cost
As at 1 April 2024	-	18,516	2,557	21,073
Additions	6,049	-	-	6,049

As at 31 March 2025	6,049	18,516	2,557	27,122

Depreciation
As at 1 April 2024	-	10,026	1,556	11,582
Provided during the period	1,764	3,545	691	6,000

As at 31 March 2025	1,764	13,571	2,247	17,582

...CONTINUED

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Green Box Drinks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

Net Book Value
As at 31 March 2025	4,285	4,945	310	9,540

As at 1 April 2024	-	8,490	1,001	9,491

6. Stocks

	2025	2024
	£	£
Stock	169,359	142,890

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	84,737	115,345
Prepayments and accrued income	4,124	4,176
Other debtors	38,351	12,622
Rent deposit	2,250	2,250

	129,462	134,393

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	46,606	64,833
Bank loans and overdrafts	31,758	52,680
Corporation tax	9,727	13,221
VAT	18,827	17,018
Net wages	240	255
Corporate credit card	23,677	-
Lease liability <1 year	2,792	-
Accruals and deferred income	8,352	4,601
Director's loan account	-	1,751

	141,979	154,359

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Bank loans	26,691	58,449
Lease liability >1 year	1,163	-

	27,854	58,449

The company has a COVID-19 Bounce Back Loan Scheme (BBLS) with HSBC of £32,685 (2024: £37,565). The loan is repayable over the period until June 2030. The interest rate on the loan is 2.5%.

The company has a Coronavirus Business Interruption Loan Scheme (CBILS) with Funding Circle of £25,764 (2024: £73,564). The loan is repayable over the period until September 2025. The interest rate on the loan is 10.1%.

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Green Box Drinks Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	88	88

11. Pension Commitments

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company in an independently administered fund. At the 31 March 2025 unpaid contributions of £nil. (2024: £nil) were due to the fund.

12. Related Party Transactions

During the year ended 31 March 2025, the company received loans from M Hill of £20,490 (2024: £40,012) and repaid £22,658 (2024: £42,841). As at 31 March 2025, the company was owed £417 (2024: the company owed £1,751 to M Hill) by M Hill, the sole director and majority shareholder. There was no interest charged and the loan is repayable on demand.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		3,879		4,533
Tangible Assets	5		9,540		9,491

			13,419		14,024
CURRENT ASSETS
Stocks	6	169,359		142,890
Debtors	7	129,462		134,393
Cash at bank and in hand		38,392		74,113

		337,213		351,396
Creditors: Amounts Falling Due Within One Year	8	(141,979 )		(154,359 )

NET CURRENT ASSETS (LIABILITIES)			195,234		197,037

TOTAL ASSETS LESS CURRENT LIABILITIES			208,653		211,061

Creditors: Amounts Falling Due After More Than One Year	9		(27,854 )		(58,449 )

NET ASSETS			180,799		152,612

CAPITAL AND RESERVES
Called up share capital	10		88		88
Share premium account			109,467		109,467
Profit and Loss Account			71,244		43,057

SHAREHOLDERS' FUNDS			180,799		152,612