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Registered number: 02392990 JAMES WHITE DRINKS LTD UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE PERIOD ENDED 30 APRIL 2025
JAMES WHITE DRINKS LTD REGISTERED NUMBER:02392990
STATEMENT OF FINANCIAL POSITION AS AT 30 APRIL 2025
|  | 30 April |  | As restated 31 December
|  | 2025 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1,753,558 |  | 1,738,980
Investments | 5 |  | 969,064 |  | 66
|  |  | 2,722,622 |  | 1,739,046
Current assets |  |  |  |  |
Stocks | 6 | 1,711,019 |  | 1,546,360 |
Debtors: amounts falling due within one year | 7 | 2,188,116 |  | 1,956,117 |
Cash at bank and in hand |  | 3,892,805 |  | 2,813,205 |
|  | 7,791,940 |  | 6,315,682 |
Creditors: amounts falling due within one year | 8 | (2,638,780) |  | (1,376,280) |
Net current assets |  |  | 5,153,160 |  | 4,939,402
Total assets less current liabilities |  |  | 7,875,782 |  | 6,678,448
Creditors: amounts falling due after more than one year | 9 |  | (185,636) |  | (205,638)
Provisions for liabilities |  |  |  |  |
Deferred tax | 10 | (309,837) |  | (288,354) |
|  |  | (309,837) |  | (288,354)
Net assets |  |  | 7,380,309 |  | 6,184,456
Capital and reserves |  |  |  |  |
Called up share capital | 11 |  | 20,100 |  | 20,933
Share premium account |  |  | 306,481 |  | 306,481
Capital redemption reserve |  |  | 3,419 |  | 2,586
Profit and loss account |  |  | 7,050,309 |  | 5,854,456
|  |  | 7,380,309 |  | 6,184,456
Page 1
JAMES WHITE DRINKS LTD REGISTERED NUMBER:02392990
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 APRIL 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ Lawrence Mallinson
Director
Date: 19 January 2026
The notes on pages 3 to 11 form part of these financial statements. Page 2
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
1. | General information
James White Drinks Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Whites Fruit Farm, Helmingham Road, Ashbocking, Ipswich, Suffolk, IP6 9JS. The company’s reporting period has been extended from 31 December 2024 to 30 April 2025; therefore the financial statements are presented for a period longer than one year and the comparative amounts presented in the financial statements will not be entirely comparable as a result. The company changed the reporting date for commercial reasons. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies. The financial statements have been prepared in Sterling (£) and rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 3
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.3 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
| 2.4 | Government grants
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
| 2.5 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.6 | Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
| 2.7 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds. Page 4
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.8 | Current and deferred taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.9 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis:
|  |  |  | Short-term leasehold property | - | 4-10% straight line
|  |  |  | Plant and machinery | - | 10-25% straight line
|  |  |  | Motor vehicles | - | 25% straight line
|  |  |  | Office equipment | - | 25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss. Page 5
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.10 | Valuation of investments
Investments in associates and joint ventures are measured at cost less accumulated impairment.
| 2.11 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. At each reporting date, stocks are assessed for impairment. If stock is 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.
| 2.12 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.13 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.14 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.15 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.
| 2.16 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 6
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025 2.Accounting policies (continued)
| 2.17 | Exemption from preparing consolidated financial statements
The company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
3. | Employees
| The average monthly number of employees, including directors, during the period was 39 (2023 - 36).
4. | Tangible fixed assets
|  | Short-term leasehold property | Plant and machinery | Motor vehicles | Office equipment | Total
|  | £ | £ | £ | £ | £
| Cost or valuation |  |  |  |  |
| At 1 January 2024 | 1,049,539 | 3,424,273 | 166,012 | 30,146 | 4,669,970
| Additions | - | 358,978 | - | 1,949 | 360,927
| Disposals | - | (55,119) | (12,845) | - | (67,964)
| At 30 April 2025 | 1,049,539 | 3,728,132 | 153,167 | 32,095 | 4,962,933
| Depreciation |  |  |  |  |
| At 1 January 2024 | 608,187 | 2,234,807 | 65,828 | 22,168 | 2,930,990
| Charge for the period on owned assets | 37,106 | 266,743 | 31,917 | 4,425 | 340,191
| Disposals | - | (48,961) | (12,845) | - | (61,806)
| At 30 April 2025 | 645,293 | 2,452,589 | 84,900 | 26,593 | 3,209,375
| Net book value |  |  |  |  |
| At 30 April 2025 | 404,246 | 1,275,543 | 68,267 | 5,502 | 1,753,558
| At 31 December 2023 | 441,352 | 1,189,466 | 100,184 | 7,978 | 1,738,980
Page 7
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
5. | Fixed asset investments
|  | Investments in subsidiary companies | Unlisted investments | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 January 2024 | 64 | 2 | 66
| Additions | 969,000 | - | 969,000
| Disposals | - | (2) | (2)
| At 30 April 2025 | 969,064 | - | 969,064
| Net book value |  |  |
| At 30 April 2025 | 969,064 | - | 969,064
| At 31 December 2023 | 64 | 2 | 66
| Subsidiary undertaking
| The following was a subsidiary undertaking of the Company:
| Name | Class of shares | Holding
| Beet It USA Inc | Ordinary | 100%
6. | Stocks
|  |  |  |  | 30 April | As restated 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Raw materials and consumables | 1,056,641 | 965,818
| Finished goods and goods for resale | 654,378 | 580,542
|  | 1,711,019 | 1,546,360
Page 8
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
7. | Debtors
|  |  |  |  | 30 April | As restated 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Trade debtors | 1,740,748 | 1,364,470
| Amounts owed by group undertakings | - | 3,181
| Other debtors | 304,033 | 302,931
| Prepayments and accrued income | 104,263 | 82,513
| Tax recoverable | 39,072 | 203,022
|  | 2,188,116 | 1,956,117
8. | Creditors: Amounts falling due within one year
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Trade creditors | 1,201,722 | 550,018
| Amounts owed to group undertakings | 182,043 | -
| Corporation tax | 600,647 | 152,853
| Other taxation and social security | 251,553 | 522,089
| Other creditors | 237,151 | 37,505
| Accruals and deferred income | 165,664 | 113,815
|  | 2,638,780 | 1,376,280
9. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Other creditors | 185,636 | 205,638
|  | 185,636 | 205,638
Page 9
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
10. | Deferred taxation
|  | 2025
|  | £
| At beginning of year | (288,354)
| Charged to profit or loss | (21,483)
| At end of year | (309,837)
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | (310,493) | (288,938)
| Short term timing differences | 656 | 584
|  | (309,837) | (288,354)
11. | Share capital
|  |  |  |  | 30 April | 31 December
|  |  |  |  | 2025 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 201,000 (2023 - 209,334) Ordinary Shares shares of £0.10 each | 20,100 | 20,933
| On 18 February 2025, 8,334 Ordinary shares of £0.10 each were repurchased at market value by the company for £400,000. These shares were then cancelled.
Page 10
JAMES WHITE DRINKS LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 APRIL 2025
12. | Prior year adjustment
Management have restated the prior period comparatives to ensure that sales and stock have been recorded in the correct period. The impact of the adjustments has been to: - Decrease turnover by £122,328 - Decrease trade debtors by £122,328 - Increase stock by £64,199 The above adjustments decreased profit by £58,129 for the year ended 31 December 2023.
13. | Pension commitments
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £42,324 (2023 - £27,842). Contributions totalling £2,624 (2023 - £2,336) were payable to the fund at the reporting date and are included in creditors.
Page 11