ACCOUNTS - Final Accounts

TERREPURE SPIRITS UK LTD. - Company Information

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Registered number: 08115207

TERREPURE SPIRITS UK LTD.

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2018

TERREPURE SPIRITS UK LTD.

REGISTERED NUMBER: 08115207

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2018

		2018		2017
Note		£		£


Current assets
Debtors: amounts falling due within one year	3	-		516
Cash at bank and in hand	4	702		241
		702		757
Creditors: amounts falling due within one year	5	(887,960)		(831,765)
Net current liabilities			(887,258)		(831,008)
Total assets less current liabilities			(887,258)		(831,008)

Net liabilities			(887,258)		(831,008)

Capital and reserves
Called up share capital	6	1	1
Profit and loss account		(887,259)	(831,009)
		(887,258)	(831,008)

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 statement of comprehensive income 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:

................................................

Simon Spencer Burch

Director

Date: 30 September 2019

The notes on pages 3 to 5 form part of these financial statements.

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TERREPURE SPIRITS UK LTD.

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2018

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2017	1	(873,526)	(873,525)
Comprehensive income for the year
Profit for the year	-	42,517	42,517
Total comprehensive income for the year	-	42,517	42,517
Total transactions with owners	-	-	-

At 1 January 2018	1	(831,009)	(831,008)
Comprehensive income for the year
Loss for the year	-	(56,250)	(56,250)
Total comprehensive income for the year	-	(56,250)	(56,250)
Total transactions with owners	-	-	-
At 31 December 2018	1	(887,259)	(887,258)

The notes on pages 3 to 5 form part of these financial statements.

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TERREPURE SPIRITS UK LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	General information

Terrepure Spirits UK Limited incorporated in the United Kingdom. The address of its registered office is C/O Bcs, Windsor House, Station Court, Station Road, Great Shelford, Cambridge, United Kingdom, CB22 5NE.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income except when deferred in other comprehensive income as qualifying cash flow hedges.

2.3

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.

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TERREPURE SPIRITS UK LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

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:

Office equipment

5 years

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 the Statement of Comprehensive Income.

2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors

					2018	2017
					£	£


Other debtors	-	516
	-	516

4.	Cash and cash equivalents
		2018	2017
		£	£

Cash at bank and in hand	702	241
	702	241

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TERREPURE SPIRITS UK LTD.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

5.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Amounts owed to group undertakings	884,910	829,013
Other creditors	-	252
Accruals and deferred income	3,050	2,500
	887,960	831,765

6.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

1 (2017 - 1) Ordinary share of £1.00	1	1

7.	Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2018 was unqualified.

The audit report was signed on 30 September 2019 by Paul Hartley FCA.

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