DRINK WORKS LIMITED

DRINK WORKS LIMITED

DRINK WORKS LIMITED - Company Information

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1 January 2022 false No description of principal activity Taxfiler 2023.6.1 04108541business:PrivateLimitedCompanyLtd2022-01-012022-12-31 041085412021-12-31 041085412022-01-012022-12-31 04108541business:AuditExemptWithAccountantsReport2022-01-012022-12-31 04108541business:FullAccounts2022-01-012022-12-31 041085412022-12-31 04108541business:Director12022-01-012022-12-31 04108541business:RegisteredOffice2022-01-012022-12-31 041085412021-12-31 04108541core:WithinOneYear2022-12-31 04108541core:WithinOneYear2021-12-31 04108541core:AfterOneYear2022-12-31 04108541core:AfterOneYear2021-12-31 04108541core:ShareCapital2022-12-31 04108541core:ShareCapital2021-12-31 04108541core:CapitalContributionReserve2022-12-31 04108541core:CapitalContributionReserve2021-12-31 04108541core:RetainedEarningsAccumulatedLosses2022-12-31 04108541core:RetainedEarningsAccumulatedLosses2021-12-31 04108541business:SmallEntities2022-01-012022-12-31 04108541countries:EnglandWales2022-01-012022-12-31 04108541core:FurnitureFittings2021-12-31 04108541core:ComputerEquipment2021-12-31 04108541core:FurnitureFittings2022-01-012022-12-31 04108541core:ComputerEquipment2022-01-012022-12-31 04108541core:FurnitureFittings2022-12-31 04108541core:ComputerEquipment2022-12-31 04108541core:DisposalsRepaymentsInvestments2022-12-31 041085412021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 04108541 (England and Wales)
DRINK WORKS LIMITED Unaudited accounts for the year ended 31 December 2022
DRINK WORKS LIMITED Unaudited accounts Contents
Page
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DRINK WORKS LIMITED Company Information for the year ended 31 December 2022
Director
Mr Leyton James Hardwick
Company Number
04108541 (England and Wales)
Registered Office
THE BARLEY MOW CENTRE 10 BARLEY MOW PASS CHISWICK LONDON W4 4PH ENGLAND
Accountants
Azoth Solutions Ltd Jonathan Scott Hall Thorpe Road Norwich Norfolk NR1 1UH
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DRINK WORKS LIMITED Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
198,497 
189,235 
Investments
5
174,999 
180,000 
373,496 
369,235 
Current assets
Debtors
6
659,943 
522,197 
Cash at bank and in hand
11,658 
411,713 
671,601 
933,910 
Creditors: amounts falling due within one year
7
(58,050)
(108,525)
Net current assets
613,551 
825,385 
Total assets less current liabilities
987,047 
1,194,620 
Creditors: amounts falling due after more than one year
8
(239,917)
(275,333)
Net assets
747,130 
919,287 
Capital and reserves
Called up share capital
30 
30 
Capital contribution reserve
37 
37 
Profit and loss account
747,063 
919,220 
Shareholders' funds
747,130 
919,287 
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 July 2023 and were signed on its behalf by
Mr Leyton James Hardwick Director Company Registration No. 04108541
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DRINK WORKS LIMITED Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
DRINK WORKS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04108541. The registered office is THE BARLEY MOW CENTRE 10 BARLEY MOW PASS, CHISWICK, LONDON, W4 4PH, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.
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DRINK WORKS LIMITED Notes to the Accounts for the year ended 31 December 2022
The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2022
184,245 
298,997 
483,242 
Additions
24,402 
4,974 
29,376 
Disposals
(16,000)
- 
(16,000)
At 31 December 2022
192,647 
303,971 
496,618 
Depreciation
At 1 January 2022
- 
294,007 
294,007 
Charge for the year
- 
4,114 
4,114 
At 31 December 2022
- 
298,121 
298,121 
Net book value
At 31 December 2022
192,647 
5,850 
198,497 
At 31 December 2021
184,245 
4,990 
189,235 
5
Investments
Other investments 
£ 
Valuation at 1 January 2022
180,000 
Disposals
(5,001)
Valuation at 31 December 2022
174,999 
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DRINK WORKS LIMITED Notes to the Accounts for the year ended 31 December 2022
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
3,931 
- 
Trade debtors
408,024 
185,997 
Deferred tax asset
16,279 
- 
Accrued income and prepayments
29,649 
31,211 
Other debtors
202,060 
304,989 
659,943 
522,197 
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
35,000 
35,000 
VAT
- 
293 
Trade creditors
22,875 
26,576 
Taxes and social security
(24,943)
21,538 
Other creditors
9,917 
9,917 
Accruals
15,201 
15,201 
58,050 
108,525 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
230,000 
265,000 
Other creditors
9,917 
10,333 
239,917 
275,333 
9
Average number of employees
During the year the average number of employees was 10 (2021: 10).
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