MOONSHINE_DRINKS_LIMITED - Accounts


Company Registration No. 07494296 (England and Wales)
MOONSHINE DRINKS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
PAGES FOR FILING WITH REGISTRAR
MOONSHINE DRINKS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
MOONSHINE DRINKS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
11,500
11,500
Tangible assets
4
414
829
11,914
12,329
Current assets
Stocks
41,421
41,421
Debtors
136
569
Cash at bank and in hand
17,263
1,557
58,820
43,547
Creditors: amounts falling due within one year
(67,467)
(73,134)
Net current liabilities
(8,647)
(29,587)
Total assets less current liabilities
3,267
(17,258)
Creditors: amounts falling due after more than one year
(15,000)
-
0
Net liabilities
(11,733)
(17,258)
Capital and reserves
Called up share capital
1,173
1,173
Share premium account
74,889
74,889
Profit and loss reserves
(87,795)
(93,320)
Total equity
(11,733)
(17,258)
MOONSHINE DRINKS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2021
31 March 2021
- 2 -

In accordance with section 444 of the Companies Act 2006 all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 14 May 2021 and are signed on its behalf by:
Mr Ian Walker
Director
Company Registration No. 07494296
MOONSHINE DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
1
Accounting policies
Company information

Moonshine Drinks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Grafton House, 67 Loughborough Road, West Bridgford, Nottingham, NG2 7LA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Patents and licences are being amortised evenly over their estimated useful life of nil years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost
Computers
25% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

MOONSHINE DRINKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2021
2020
Number
Number
Total
3
3
3
Intangible fixed assets
Total
£
Cost
At 1 April 2020 and 31 March 2021
11,500
Amortisation and impairment
At 1 April 2020 and 31 March 2021
-
0
Carrying amount
At 31 March 2021
11,500
At 31 March 2020
11,500
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2020 and 31 March 2021
16,698
1,660
18,358
Depreciation and impairment
At 1 April 2020
16,698
831
17,529
Depreciation charged in the year
-
0
415
415
At 31 March 2021
16,698
1,246
17,944
Carrying amount
At 31 March 2021
-
0
414
414
At 31 March 2020
-
0
829
829
5
Directors' transactions

During the period there were various loans between the directors and the company. At the balance sheet date the company owed Mr I Walker £15,329 (2020: £18,329) and Mr R Constable-Maxwell £51,509 (2020: £54,259).

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