Registration number: 15452615

Liquid Enterprise Ltd

(Registration number: 15452615)
Balance Sheet as at 31 December 2024

	Note	2024 £
Current assets
Stocks	4	389,800
Debtors	5	488,777
Cash at bank and in hand		8,629
		887,206
Creditors: due within one year	6	(1,219,011)
Net liabilities		(331,805)
Capital and reserves
Called up share capital	7	100
Retained earnings		(331,905)
Shareholders' deficit		(331,805)

For the financial period ending 31 December 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 December 2025
 

.............................................. Mr Ryan Martin Director

Liquid Enterprise Ltd

Notes to the Unaudited Financial Statements for the Period from 30 January 2024 to 31 December 2024

1	General information

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

The address of its registered office is: The Leather Market Lm13.302, 11/13 Weston Street, London, SE1 3ER.

These financial statements were authorised for issue by the director on 30 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 company has incurred sizeable losses in its first period of trading which has been attributable to start-up costs incurred in the commencement and marketing of the company's products. The directors are pleased with the level of turnover the company has been able to achieve from a standing start, but are fully aware that this needs to convert to profitability over the short-to-medium term. Until this is achieved, the company is dependent on the continued financial support of an associated company. The directors of that company have provided reassurance that this will continue to be made available so long as the path to profitability is foreseeable.

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.

Liquid Enterprise Ltd

Notes to the Unaudited Financial Statements for the Period from 30 January 2024 to 31 December 2024

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

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 2.

Liquid Enterprise Ltd

Notes to the Unaudited Financial Statements for the Period from 30 January 2024 to 31 December 2024

4

Stocks

	2024 £
Finished goods and goods for resale	389,800

5

Debtors

	2024 £
Trade debtors	136,509
Prepayments	12,730
Other debtors	339,538
	488,777

6

Creditors

	2024 £
Trade creditors	397,044
Taxation and social security	55,060
Accruals and deferred income	1,500
Other creditors	765,407
	1,219,011

7	Share capital

Allotted, called up and fully paid shares

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