Drinkfinger Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10894208 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

for

Drinkfinger Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

O J Elsden

C J Elsden

W M Ings

M Ings

R I Sharpe

REGISTERED OFFICE:

7 Bell Yard

London

United Kingdom

WC2A 2JR

REGISTERED NUMBER:

10894208 (England and Wales)

ACCOUNTANTS:

Roberts York Limited

York House

4A Highfield Gardens

Liss

Hampshire

GU33 7NQ

FIXED ASSETS

Intangible assets

4

19,505

35,168

Tangible assets

5

116

2,329

Investments

6

30

30

19,651

37,527

CURRENT ASSETS

Debtors

33,569

28,804

Cash at bank

54,977

5,948

88,546

34,752

CREDITORS

Amounts falling due within one year

23,503

118,353

NET CURRENT ASSETS/(LIABILITIES)

65,043

(83,601

)

TOTAL ASSETS LESS CURRENT LIABILITIES

84,694

(46,074

)

CREDITORS

Amounts falling due after more than one year

7

17,099

19,319

NET ASSETS/(LIABILITIES)

67,595

(65,393

)

CAPITAL AND RESERVES

Called up share capital

108

100

Share premium

369,934

169,943

Retained earnings

(302,447

)

(235,436

)

67,595

(65,393

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 24 May 2024 and were signed on its behalf by:

W M Ings - Director

1.	STATUTORY INFORMATION

Drinkfinger 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Drinkfinger Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Patents and licences

Separately aquired trademarks and licences are shown at historical cost. Trademarks, licences and customer-related intangible assets aquired in a business combination are recognised at fair value at the aquisition date. Trademarks, licences and customer related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets less any estimated residual value over their useful life as follows:

Development costs - Over 5 years

Trademarks - over 10 years

Design rights - over 5 years

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company only enters into basic financial instrument transactions in accordance with Section 11. Financial assets and liabilities are measured at cost and financial assets are assessed at the end of each reporting period for objective evidence of impairment.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2022

and 31 August 2023

91,977

AMORTISATION

At 1 September 2022

56,809

Amortisation for year

15,663

At 31 August 2023

72,472

NET BOOK VALUE

At 31 August 2023

19,505

At 31 August 2022

35,168

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2022

6,311

Disposals

(6,080

)

At 31 August 2023

231

DEPRECIATION

At 1 September 2022

3,982

Charge for year

58

Eliminated on disposal

(3,925

)

At 31 August 2023

115

NET BOOK VALUE

At 31 August 2023

116

At 31 August 2022

2,329

6.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 September 2022

and 31 August 2023

30

NET BOOK VALUE

At 31 August 2023

30

At 31 August 2022

30

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31.8.23

31.8.22

as restated

£

£

Repayable by instalments

Bank loans more 5 yr by instal

884

3,522