Niche Brand Cocktails Limited Filleted accounts for Companies House (small and micro)

Niche Brand Cocktails Limited Filleted accounts for Companies House (small and micro)

NICHE BRAND COCKTAILS LIMITED - Company Information

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6 false false false false false false false false false true false false false false false false No description of principal activity 2022-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,298 2,765 4,063 36 643 679 3,384 1,262 xbrli:pure xbrli:shares iso4217:GBP 11931794 2022-01-01 2022-12-31 11931794 2022-12-31 11931794 2021-12-31 11931794 2021-01-01 2021-12-31 11931794 2021-12-31 11931794 bus:Director2 2022-01-01 2022-12-31 11931794 core:WithinOneYear 2022-12-31 11931794 core:WithinOneYear 2021-12-31 11931794 core:AfterOneYear 2022-12-31 11931794 core:AfterOneYear 2021-12-31 11931794 core:RestatedAmount 2021-12-31 11931794 core:ShareCapital 2022-12-31 11931794 core:ShareCapital 2021-12-31 11931794 core:SharePremium 2022-12-31 11931794 core:RestatedAmount core:SharePremium 2021-12-31 11931794 core:RetainedEarningsAccumulatedLosses 2022-12-31 11931794 core:RetainedEarningsAccumulatedLosses 2021-12-31 11931794 bus:SmallEntities 2022-01-01 2022-12-31 11931794 bus:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 11931794 bus:FullAccounts 2022-01-01 2022-12-31 11931794 bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 11931794 bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11931794 core:ComputerEquipment 2021-12-31 11931794 core:ComputerEquipment 2022-01-01 2022-12-31 11931794 core:ComputerEquipment 2022-12-31
COMPANY REGISTRATION NUMBER: 11931794
Niche Brand Cocktails Limited
Unaudited financial statements
31 December 2022
Niche Brand Cocktails Limited
Statement of financial position
31 December 2022
2022
2021
(restated)
Note
£
£
£
£
Fixed assets
Tangible assets
5
3,384
1,262
Current assets
Stocks
75,217
61,504
Debtors
6
38,002
11,213
Cash at bank and in hand
7,204
22,037
---------
-------
120,423
94,754
Creditors: Amounts falling due within one year
7
( 208,196)
( 66,034)
---------
-------
Net current (liabilities)/assets
( 87,773)
28,720
-------
-------
Total assets less current liabilities
( 84,389)
29,982
Creditors: Amounts falling due after more than one year
8
( 28,289)
( 38,079)
---------
-------
Net liabilities
( 112,678)
( 8,097)
---------
-------
Capital and reserves
Called up share capital
130
130
Share premium account
314,382
314,382
Profit and loss account
( 427,190)
( 322,609)
---------
---------
Shareholders deficit
( 112,678)
( 8,097)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Niche Brand Cocktails Limited
Statement of financial position (continued)
31 December 2022
These financial statements were approved by the board of directors and authorised for issue on 29 September 2023 , and are signed on behalf of the board by:
R M H Croft- Sharland
Director
Company registration number: 11931794
Niche Brand Cocktails Limited
Notes to the financial statements
Year ended 31 December 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Martley Hall Stud, Framlingham Road, Easton, Woodbridge, IP13 0EN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Management has considered the impact of COVID-19 and other events and conditions including working with new ventures and concluded that it can continue to trade with the ongoing support of the directors and shareholders.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line and 15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 6 (2021: 5 ).
5. Tangible assets
Equipment
£
Cost
At 1 January 2022 (as restated)
1,298
Additions
2,765
------
At 31 December 2022
4,063
------
Depreciation
At 1 January 2022
36
Charge for the year
643
------
At 31 December 2022
679
------
Carrying amount
At 31 December 2022
3,384
------
At 31 December 2021
1,262
------
6. Debtors
2022
2021
(restated)
£
£
Trade debtors
30,654
7,247
Other debtors
7,348
3,966
-------
-------
38,002
11,213
-------
-------
7. Creditors: Amounts falling due within one year
2022
2021
(restated)
£
£
Bank loans and overdrafts
9,809
9,566
Trade creditors
34,987
14,691
Social security and other taxes
1,900
2,592
Other creditors
161,500
39,185
---------
-------
208,196
66,034
---------
-------
8. Creditors: Amounts falling due after more than one year
2022
2021
(restated)
£
£
Bank loans and overdrafts
28,289
38,079
-------
-------
9. Prior period errors
The prior year amounts have been altered to correct a error in the treatment of share premium not being recognised in the financial statements. In the 2021 accounts the share premium and other debtors were understated by £10. In correcting this error, brought forward reserves for the current year have been increased by £10.