Global Drinks Intelligence Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11672026 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Global Drinks Intelligence Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTORS:

A T Smith

Ms C Wake-Walker

W P Smith

REGISTERED OFFICE:

1 Old Gunn Court

North Street

Dorking

Surrey

RH4 1DE

REGISTERED NUMBER:

11672026 (England and Wales)

ACCOUNTANTS:

Mapperson Price, Chartered Accountants

Old Gun Court

North Street

Dorking

Surrey

RH4 1DE

CURRENT ASSETS

Debtors

4

25,068

26,882

Cash at bank and in hand

535

19,974

25,603

46,856

CREDITORS

Amounts falling due within one year

5

53,746

30,230

NET CURRENT (LIABILITIES)/ASSETS

(28,143

)

16,626

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,143

)

16,626

CREDITORS

Amounts falling due after more than one year

6

127,203

129,840

NET LIABILITIES

(155,346

)

(113,214

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Share premium

14,850

14,850

Retained earnings

(171,196

)

(129,064

)

(155,346

)

(113,214

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2022 and were signed on its behalf by:

A T Smith - Director

1.	STATUTORY INFORMATION

Global Drinks Intelligence Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis on the basis of support from the long term shareholder loan. No repayments will be made on this loan until the company is in a viable financial position.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Government grants

Government grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

24,427

23,206

Other debtors

641

3,676

25,068

26,882

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

15,188

-

Trade creditors

13,833

10,362

Taxation and social security

5,405

3,903

Other creditors

19,320

15,965

53,746

30,230

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans

42,363

45,000

Other creditors

84,840

84,840

127,203

129,840

Bank loans comprise Bounce Back Loans drawn in May and November 2020. Repayments are deferred until 2022. Shareholder loans are provided to support the company on a long term basis and have no fixed repayment arrangements. Interest on shareholder loans is waived in the current period.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Global Drinks Intelligence Ltd for the year ended 31 December 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Global Drinks Intelligence Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Global Drinks Intelligence Ltd and state those matters that we have agreed to state to the Board of Directors of Global Drinks Intelligence Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Global Drinks Intelligence Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Global Drinks Intelligence Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Global Drinks Intelligence Ltd. You consider that Global Drinks Intelligence Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Global Drinks Intelligence Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Mapperson Price, Chartered Accountants

Old Gun Court

North Street

Dorking

Surrey

RH4 1DE

24 August 2022