Registration number:
Drinks Wholesale Group Ltd
for the Year Ended 30 June 2025
Drinks Wholesale Group Ltd
Contents
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Company Information |
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Strategic Report |
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Director's Report |
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Statement of Director's Responsibilities |
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Independent Auditor's Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Drinks Wholesale Group Ltd
Company Information
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Director |
Ajit Singh Chawla |
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Registered office |
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Holding company |
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Ultimate |
Chawla & Gulati Property Investments Limited |
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Bankers |
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Auditors |
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Drinks Wholesale Group Ltd
Strategic Report for the Year Ended 30 June 2025
The director presents his strategic report for the year ended 30 June 2025.
Principal activity
The principal activity of the company is that of Cash and Carry wholesalers
Fair review of the business
On 30 November 2024, the trade of Drinks Wholesale Ltd, a cash and carry based in Croydon and All Drinks Cash & Carry Ltd, based in Southall, was transferred to Drinks Wholesale Group Ltd.
The financial statement of the company for the year to 30 June 2025, therefore, includes the trade of the Cash & Carry in Mitcham for the year and the Cash & Carries of Southall & Croydon for the period from 1 December 2024 to 30 June 2025.
Clearance from HMRC was received on 29 January 2024 for the above transactions.
The results for the year and financial position of the company are shown in the annexed financial statements.
Turnover of the business for the year ended 30 June 2025 was £71.56 million (2024: £45.82 million).
Profit for the financial year after taxation amounted to £763,080 (2024:£287,499)
The company's key financial and other performance indicators during the year were as follows:
|
Financial KPIs |
Unit |
2025 |
2024 |
|
Gross profit to turnover |
% |
6.2 |
4.59 |
|
Net profit/(loss) before tax to turnover |
% |
1.11 |
.63 |
|
Current ratio |
% |
116.41 |
129.13 |
|
Receivable/Turnover ratio |
Days |
14 |
14 |
|
Cash & bank balances |
£ |
59,999 |
508,000 |
|
- |
- |
The non financial indicators are:
Supplier confidence:
The company maintains an excellent relationship with all its suppliers.
Customer satisfaction:
The company's customers are mainly based in the UK. The company aims to maintain good relationships with all its customers
Employee relationship:
The company operates non discriminatory policies on the employment and welfare of staff. Health and safety policies are strictly adhered to by ensuring staff are properly trained in handling goods & heavy packaging and operating machinery. The employee/manager relationship and complaint procedures are regularly reviewed by management. The company also maintains a healthy and productive relationship with its employees.
Drinks Wholesale Group Ltd
Strategic Report for the Year Ended 30 June 2025
Principal risks and uncertainties
Management risks
The management of the company is tightly controlled by the director. Strategic matters and future development decisions are carried out by the director.
Credit risks
The company is exposed to considerable credit given to its customers, many of whom are not well established.
Regulatory risks
The Company 's activities are subject to certain regulations around health and safety. The Company has detailed policies and training plans in place for employees to ensure compliance with regulations.
Liquidity risks
The Company's view is that any exposure to liquidity risk is small. The Company has committed facilities which management believes are adequate for operational requirements and any planned expansion & business development. The cash flow and working capital requirement of the business is strictly monitored by the Director on a regular basis.
Supply risk
The Company has a broad supplier base to ensure orderly continuity of supply of products.
Commercial risk
The marketplace is competitive, hence there is a risk of business loss. To mitigate against this risk we have established a wide portfolio of customers, and continually focus on value, service & quality to ensure we retain those customers.
Financial risks
See Financial Instruments.
Approved and authorised by the
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Drinks Wholesale Group Ltd
Director's Report for the Year Ended 30 June 2025
The director presents his report and the financial statements for the year ended 30 June 2025.
Director of the company
The director who held office during the year was as follows:
Dividends
The total distribution of dividends for the year ended 30 June 2025 was £56,000 (2024 £nil)
Financial instruments
Objectives and policies
The company`s principal financial instruments comprises bank balances, trade creditors and bank loans. The main purpose of these instruments is to raise funds for the company`s investments and operations.
Due to the nature of the financial instruments there is little exposure of price risks.
The trade creditors liquidity risks is managed by ensuring sufficient funds are available to meet the amounts due.
Bank loans are secured on the properties held by the holding company and is therefore exposed to property valuation risks.
Taxation status
The company is a close company within the provisions of the Income & Corporation Taxes Act 2010.
Future developments
The company expects to maintain its relationship with its suppliers and the loyalty of its customers and hopes to continue exploring new markets.
Fixed assets
Changes in fixed assets are shown in note 11 to the financial statements.
Important non adjusting events after the financial period
No events of note has taken place since the balance sheet date.
Disclosure of information to the auditors
The director has taken steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that he knows of and of which he knows the auditors are unaware.
Approved and authorised by the
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Drinks Wholesale Group Ltd
Statement of Director's Responsibilities
The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:
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select suitable accounting policies and apply them consistently; |
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make judgements and accounting estimates that are reasonable and prudent; |
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state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Drinks Wholesale Group Ltd
Independent Auditor's Report to the Members of Drinks Wholesale Group Ltd
Opinion
We have audited the financial statements of Drinks Wholesale Group Ltd (the 'company') for the year ended 30 June 2025, which comprise the Profit and Loss Account, Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the company's affairs as at 30 June 2025 and of its profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The director are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
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the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
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the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Director's Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
Drinks Wholesale Group Ltd
Independent Auditor's Report to the Members of Drinks Wholesale Group Ltd
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
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the financial statements are not in agreement with the accounting records and returns; or |
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certain disclosures of director's remuneration specified by law are not made; or |
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we have not received all the information and explanations we require for our audit. |
Responsibilities of the director
As explained more fully in the Statement of Director's Responsibilities [set out on page 5], the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor Responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
In identifying and assessing risks of material misstatements in respect of irregularities, including fraud and
non-compliance and regulations, we considered the following:
- the nature of the industry and sector, control environment and business performance including the design of company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets.
- results of our enquiries of management about their own identification and assessment of the risks and
irregularities;
- any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances
of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or
alleged fraud;
- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
As a result of these procedures, we considered the opportunities and incentives that may exist within the
organisation for fraud and identified that greatest potential for fraud is revenue recognition. In common with all
audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understanding of the legal and regulatory framework that the company operates in,
focusing on provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in this context
include the UK Companies Act, pension legislation and tax legislation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Drinks Wholesale Group Ltd
Independent Auditor's Report to the Members of Drinks Wholesale Group Ltd
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Drinks Wholesale Group Ltd
Independent Auditor's Report to the Members of Drinks Wholesale Group Ltd
......................................
For and on behalf of
London
W1T 3AD
Drinks Wholesale Group Ltd
Profit and Loss Account for the Year Ended 30 June 2025
|
Note |
2025 |
2024 |
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Turnover |
|
|
|
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Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
- |
|
|
Operating profit/(loss) |
|
( |
|
|
Exceptional item |
- |
|
|
|
Interest payable and similar expenses |
( |
- |
|
|
(33,570) |
778,050 |
||
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Profit before tax |
|
|
|
|
Tax on profit |
( |
- |
|
|
Profit for the financial year |
|
|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Drinks Wholesale Group Ltd
Statement of Comprehensive Income for the Year Ended 30 June 2025
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2025 |
2024 |
|
|
Profit for the year |
|
|
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Total comprehensive income for the year |
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|
Drinks Wholesale Group Ltd
(Registration number: 01839722)
Balance Sheet as at 30 June 2025
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Note |
2025 |
2024 |
|
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Fixed assets |
|||
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Tangible assets |
|
|
|
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Other financial assets |
- |
15,000 |
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|
|
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Current assets |
|||
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Stocks |
|
|
|
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Debtors |
|
|
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Cash at bank and in hand |
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||
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Creditors: Amounts falling due within one year |
( |
( |
|
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Net current assets |
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|
|
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Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
- |
|
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Net assets |
|
|
|
|
Capital and reserves |
|||
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Called up share capital |
1,000 |
1,000 |
|
|
Retained earnings |
3,308,167 |
2,601,087 |
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|
Shareholders' funds |
3,309,167 |
2,602,087 |
Approved and authorised by the
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Drinks Wholesale Group Ltd
Statement of Changes in Equity for the Year Ended 30 June 2025
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Share capital |
Retained earnings |
Total |
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|
At 1 July 2024 |
|
|
|
|
Profit for the year |
- |
|
|
|
Dividends |
- |
( |
( |
|
At 30 June 2025 |
|
|
|
|
Share capital |
Retained earnings |
Total |
|
|
At 1 July 2023 |
|
|
|
|
Profit for the year |
- |
|
|
|
At 30 June 2024 |
1,000 |
2,601,087 |
2,602,087 |
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
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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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.
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.
Financial position and Disclosure Exemption
The company meets the definition of a qualifying entity under FRS 102.
Accordingly, the company has taken advantage of the disclosure exemptions available under paragraph 1.12 of and 33.1A of FRS 102
Consequentially, these financial statements do not include:
a) a statement of Cash Flows and related notes , as permitted by paragraph 1.12 (b).
b) Disclosures of related party transactions entered between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member.
The financial statements of the company are consolidated into the publicly available group financial statements of its ultimate parent company, Chawla & Gulati Property Investments Ltd. These consolidated financial statements are available to the public and may be obtained from the Companies House.
The shareholders have been notified and have not raised any objection.
Going concern
The financial statements have been prepared on a going concern basis.
The directors have acknowledged the latest guidance on going concern. Whilst the current volatility in financial markets has created general uncertainty, the company has financial resources in excess of its liabilities. As a consequence, the directors believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook.
After making due enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods 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.
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.
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 |
10% per annum on cost |
|
Fixtures & fittings |
10% per annum on cost |
|
Motor vehicles |
25% per annum on written down value |
|
Office equipment |
10% per annum on cost |
Business combinations
As part of a major restructuring of companies under common control, the following events occurred in relation to Drinks Wholesale Group Ltd:
On 29 October 2024, Chawla & Gulati Property Investments Ltd, acquired the shares of Drinks Wholesale Ltd and All Drinks Cash & Carry Ltd.
On 1st December 2024, the trades of the two companies were transferred to Drinks Wholesale Group Ltd.
HMRC clearance of the restructuring was received on 29 January 2024.
Impairment of Assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those asset have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss. If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
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.
Trade 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.
Trade 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligations and a reliable estimate can be made.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Turnover |
The analysis of the company's turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Sale of goods |
|
|
|
Other operating income |
The analysis of the company's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Miscellaneous other operating income |
|
- |
|
Operating profit/(loss) |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Operating lease expense - plant and machinery |
|
|
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
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Exceptional item |
|
2025 |
2024 |
|
|
Exceptional items |
- |
|
This represents the reimbursement by the previous shareholders of the VAT penalty payable.
The penalty payable of £778,050 is included in the administrative expenses of the Profit and Loss account.
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Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
- |
|
Interest expense on other finance liabilities |
|
- |
|
|
- |
|
Staff costs |
The aggregate payroll costs (including director's remuneration) were as follows:
|
2025 |
2024 |
|
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Wages and salaries |
|
|
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Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
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The director was not remunerated during the year.
The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:
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2025 |
2024 |
|
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Administration and support |
|
|
|
Sales, marketing and distribution |
|
|
|
|
|
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Auditors' remuneration |
|
2025 |
2024 |
|
|
Audit of the financial statements |
|
|
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Other fees to auditors |
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All other non-audit services |
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Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
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Taxation |
Tax charged/(credited) in the profit and loss account
|
2025 |
2024 |
|
|
Deferred taxation |
||
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Arising from origination and reversal of timing differences |
|
- |
Corporation tax is not payable for the year to 30th June 2025 because of accumulated losses brought forward.
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
|
Tangible assets |
|
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
|||||
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At 1 July 2024 |
|
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Additions |
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At 30 June 2025 |
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Depreciation |
|||||
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At 1 July 2024 |
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Charge for the year |
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At 30 June 2025 |
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|
Carrying amount |
|||||
|
At 30 June 2025 |
|
|
|
|
|
|
At 30 June 2024 |
|
|
|
|
|
|
Fixed asset investment |
|
Unlisted investment |
Total |
|
|
Non-current financial assets |
||
|
Cost or valuation |
||
|
At 1 July 2024 |
15,000 |
15,000 |
|
Disposals |
(15,000) |
(15,000) |
|
At 30 June 2025 |
- |
- |
|
Impairment |
||
|
Carrying amount |
||
|
At 30 June 2025 |
- |
- |
|
Stocks |
|
2025 |
2024 |
|
|
Finished goods and goods for resale |
|
|
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
|
Debtors |
|
Current |
Note |
2025 |
2024 |
|
Trade debtors |
1,669,325 |
1,698,299 |
|
|
Sundry debtors |
33,114 |
27,916 |
|
|
Vat recoverable |
205,510 |
205,510 |
|
|
Other debtors |
118,699 |
118,699 |
|
|
Amounts due from Vendor |
778,050 |
778,050 |
|
|
Corporation tax |
44,450 |
44,450 |
|
|
Corporation tax recoverable |
129,860 |
129,860 |
|
|
Amounts owed by related parties |
|
|
|
|
Other taxation |
- |
|
|
|
Prepayments |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
2025 |
2024 |
|
|
Cash on hand |
|
|
|
Cash at bank |
|
|
|
|
|
|
|
Bank overdrafts |
( |
- |
|
(254,626) |
508,985 |
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
|
Creditors |
|
Note |
2025 |
2024 |
|
|
Due within one year |
|||
|
Loans and borrowings |
|
- |
|
|
Trade creditors |
|
|
|
|
Accruals |
|
|
|
|
VAT liability |
2,048,337 |
2,048,337 |
|
|
Amount owed to group undertakings |
5,519,929 |
848,235 |
|
|
Deposits |
2,019 |
2,019 |
|
|
Credit card account |
1,610,818 |
335,345 |
|
|
PAYE and NIC creditor |
24,448 |
4,622 |
|
|
Pension due |
5,566 |
1,728 |
|
|
VAT due |
32,365 |
- |
|
|
|
|
The VAT liability represented the outcome of the Vat tribunal case, ruled in favour of HMRC.
The company lost the appeal and VAT of £1,270,287 plus penalty of £778,050 will now be payable.
Interest will be payable and we are unable to ascertain the quantum. The liability of £2,048,337 plus interest is the responsibility of the previous shareholders of the company and the purchase price will be reduced accordingly.
This amount will be reimbursed as stated in the Share Purchase Agreement attested on 22 July 2022.
.In the financial statements for the year to 30.06.2024, we have incorporated the reimbursement for the penalty (reflected as amounts due from vendor) but not the VAT element which was provided for in the 2022 financial statements.
|
Provisions for liabilities |
|
Deferred tax |
Total |
|
|
Accelerated capital allowances |
|
|
|
At 30 June 2025 |
|
|
|
|
||
|
Pension and other schemes |
Defined contribution pension scheme
The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £
Contributions totalling £Nil (2024 - £Nil) were payable to the scheme at the end of the year and are included in creditors.
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
1,000 |
|
1,000 |
|
Loans and borrowings |
Current loans and borrowings
|
2025 |
2024 |
|
|
Bank overdrafts |
|
- |
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Final dividend of £ |
56,000 |
Nil |
||
|
Bank guarantees & securities |
The company has overdraft facilities with Lloyds Bank PLC up to a net sum of £2.5 million repayable on demand. This facility will be reviewed on 31 July 2026. This company also has a debenture dated 27 November 2024 and a Cross guarantee dated 1 November 2016 with Lloyds Bank PLC.
The company also has credit card facilities as follows:
Barclaycard £300,000
Capital on Tap £150,000
Amex £300,000
Lloyds Corporate card £850,000
|
Related party transactions |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 Section 33.1A "The financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
|
Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is
The parent of the largest group in which these financial statements are consolidated is
Drinks Wholesale Group Ltd
Notes to the Financial Statements for the Year Ended 30 June 2025
|
Non adjusting events after the financial period |
|
|