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REGISTERED NUMBER:
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WORLDWIDE DRINKS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2019 |
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REGISTERED NUMBER:
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WORLDWIDE DRINKS LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JANUARY 2019 |
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WORLDWIDE DRINKS LIMITED (REGISTERED NUMBER: 05670564) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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WORLDWIDE DRINKS LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Elfed House |
Oak Tree Court |
Cardiff Gate Business Park |
CARDIFF |
County of Cardiff |
CF23 8RS |
WORLDWIDE DRINKS LIMITED (REGISTERED NUMBER: 05670564) |
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BALANCE SHEET |
31 JANUARY 2019 |
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2019 | 2018 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved for issue by the Board of Directors on
behalf by: |
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WORLDWIDE DRINKS LIMITED (REGISTERED NUMBER: 05670564) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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1. | STATUTORY INFORMATION |
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Worldwide Drinks Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the |
nearest pound. |
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The principle 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. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There have been no material departures from Financial Reporting Standard 1A. |
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Turnover |
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value |
added tax. |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life or, if held under a finance lease, over the lease term, whichever is the shorter. |
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Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable |
to making the asset capable of operating as intended. |
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Plant and machinery | 25% straight line |
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The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes |
in circumstances indicate the carrying vale may not be recoverable. |
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Current taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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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. |
WORLDWIDE DRINKS LIMITED (REGISTERED NUMBER: 05670564) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Non-derivative financial instruments |
Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and |
other creditors and interest free loans. |
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Unless otherwise stated, the carrying value of the company's financial assets and liabilities are a reasonable |
approximation of their fair values. |
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Debtors and creditors receivable / payable within one year |
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Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at bank and in hand. |
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Going concern |
These accounts have been prepared on the going concern basis. The directors believe that the going concern |
basis is appropriate on the basis that the company has the continued support of the directors. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
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COST |
At 1 February 2018 |
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Additions |
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At 31 January 2019 |
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DEPRECIATION |
At 1 February 2018 |
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Charge for year |
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At 31 January 2019 |
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NET BOOK VALUE |
At 31 January 2019 |
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At 31 January 2018 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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Directors' current accounts |
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Tax |
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VAT |
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Prepayments |
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WORLDWIDE DRINKS LIMITED (REGISTERED NUMBER: 05670564) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2019 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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Corporation tax |
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Other creditors |
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Directors' current accounts | - | 200 |
Accrued expenses |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary A | £1 | 50 | 50 |
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Ordinary B | £1 | 50 | 50 |
100 | 100 |
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8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to directors subsisted during the years ended 31 January 2019 and |
31 January 2018: |
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2019 | 2018 |
£ | £ |
Directors |
Balance outstanding at start of the year | - | 28,053 |
Amount advanced | 146,705 | 56,748 |
Amount repaid | (114,725 | ) | (84,801 | ) |
Balance outstanding at end of the year | 31,980 | - |
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Interest has been charged on the above loan at the official rate of interest. There are no fixed term for |
repayment. |