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31/12/2019
2019-12-31
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No description of principal activities is disclosed
2019-06-01
Sage Accounts Production 20.0 - FRS102_2019
xbrli:pure
xbrli:shares
iso4217:GBP
08837427
2019-06-01
2019-12-31
08837427
2019-12-31
08837427
2018-06-01
2019-05-31
08837427
2019-05-31
08837427
bus:RegisteredOffice
2019-06-01
2019-12-31
08837427
bus:LeadAgentIfApplicable
2019-06-01
2019-12-31
08837427
bus:Director1
2019-06-01
2019-12-31
08837427
bus:Director2
2019-06-01
2019-12-31
08837427
bus:Director3
2019-06-01
2019-12-31
08837427
bus:Director4
2019-06-01
2019-12-31
08837427
core:WithinOneYear
2019-12-31
08837427
core:WithinOneYear
2019-05-31
08837427
core:ShareCapital
2019-12-31
08837427
core:ShareCapital
2019-05-31
08837427
core:SharePremium
2019-12-31
08837427
core:SharePremium
2019-05-31
08837427
core:RetainedEarningsAccumulatedLosses
2019-12-31
08837427
core:RetainedEarningsAccumulatedLosses
2019-05-31
08837427
core:CostValuation
core:Non-currentFinancialInstruments
2019-12-31
08837427
core:Non-currentFinancialInstruments
2019-12-31
08837427
core:Non-currentFinancialInstruments
2019-05-31
08837427
bus:Director1
2019-05-31
08837427
bus:Director1
2018-05-31
08837427
bus:Director1
2019-05-31
08837427
bus:Director1
2018-06-01
2019-05-31
08837427
bus:SmallEntities
2019-06-01
2019-12-31
08837427
bus:AuditExempt-NoAccountantsReport
2019-06-01
2019-12-31
08837427
bus:FullAccounts
2019-06-01
2019-12-31
08837427
bus:SmallCompaniesRegimeForAccounts
2019-06-01
2019-12-31
08837427
bus:PrivateLimitedCompanyLtd
2019-06-01
2019-12-31
Company registration number:
08837427
Drink Beta Limited
Unaudited filleted financial statements
31 December 2019
Drink Beta Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Drink Beta Limited
Directors and other information
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Directors
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Mr M D N Lane
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Mr A K Logan
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(Appointed 12 July 2019)
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Mr M D Roberts
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(Appointed 12 July 2019)
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Mr C France
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(Appointed 12 July 2019)(Resigned 7 May 2020)
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Company number
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08837427
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Registered office
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Bureau
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Fetter Lane
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London
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EC4A 1EN
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Accountants
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Howard Matthews Partnership
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Queensgate House
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23 North Park Road
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Harrogate
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North Yorkshire
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HG1 5PD
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Drink Beta Limited
Statement of financial position
31 December 2019
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31/12/19
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31/05/19
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Note
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£
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£
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£
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£
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Fixed assets
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Investments
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5
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500
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500
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_______
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_______
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500
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500
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Current assets
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Debtors
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6
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404,208
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367,631
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_______
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_______
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404,208
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367,631
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Creditors: amounts falling due
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within one year
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7
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(
2,025)
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(
2,025)
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_______
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_______
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Net current assets
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402,183
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365,606
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_______
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_______
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Total assets less current liabilities
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402,683
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366,106
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_______
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_______
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Net assets
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402,683
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366,106
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_______
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_______
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Capital and reserves
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Called up share capital
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814
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761
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Share premium account
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588,557
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396,327
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Profit and loss account
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(
186,688)
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(
30,982)
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_______
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_______
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Shareholders funds
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402,683
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366,106
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_______
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_______
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For the period ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the
board of directors
and authorised for issue on
14 December 2020
, and are signed on behalf of the board by:
Mr M D N Lane
Mr A K Logan
Director
Director
Company registration number:
08837427
Drink Beta Limited
Notes to the financial statements
Period ended 31 December 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bureau, Fetter Lane, London, EC4A 1EN.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group . The financial statements present information about the company as an individual entity and not about its group .
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Share-based payments
Equity-settled share-based payment transactions are measured at fair value at the date of grant. The fair value is expensed on a straight-line basis over the vesting period, with a corresponding increase in equity. This is based upon the company's estimate of the shares or share options that will eventually vest which takes into account all vesting conditions and non-market performance conditions, with adjustments being made where new information indicates the number of shares or share options expected to vest differs from previous estimates. Fair value is determined using an appropriate pricing model. All market conditions and non-vesting conditions are taken into account when estimating the fair value of the shares or share options. As long as all other vesting conditions are satsfied, no adjustment is made irrespective of whether market or non-vesting conditions are met. Where the terms of an equity-settled transaction are modified, an expense is recognised as if the terms had not been modified. In addition, an expense is recognised for any increase in the fair value of the transaction, as measured at the date of modification. Where an equity-settled transaction is cancelled or settled, it is treated as if it had vested on the date of cancellation or settlement, and any expense not yet recognised in profit or loss is expensed immediately. Cash-settled share-based payment transactions are measured at the fair value of the liability. Until the liability is settled, the fair value of the liability is re-measured at each reporting date and at the date of settlement, with any changes in fair value recognised in profit or loss for the period.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2019:
1
).
5.
Investments
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Shares in group undertakings and participating interests
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Total
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£
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£
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Cost
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At 1 June 2019 and 31 December 2019
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500
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500
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_______
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_______
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Impairment
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At 1 June 2019 and 31 December 2019
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-
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-
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_______
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_______
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Carrying amount
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At 31 December 2019
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500
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500
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_______
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_______
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At 31 May 2019
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500
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500
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_______
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_______
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6.
Debtors
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31/12/19
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31/05/19
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£
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£
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Amounts owed by group undertakings and undertakings in which the company has a participating interest
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363,755
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361,012
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Other debtors
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40,453
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6,619
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_______
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_______
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404,208
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367,631
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_______
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_______
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7.
Creditors: amounts falling due within one year
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31/12/19
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31/05/19
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£
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£
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Trade creditors
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1,800
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1,800
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Other creditors
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225
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225
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_______
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_______
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2,025
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2,025
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_______
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_______
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8.
Directors advances, credits and guarantees
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During the period the directors entered into the following advances and credits with the company:
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Period ended 31/12/19
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Balance brought forward
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Advances /(credits) to the directors
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Amounts repaid
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Balance o/standing
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£
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£
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£
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£
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Mr M D N Lane
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2,690
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-
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(
2,690)
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-
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_______
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_______
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_______
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_______
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Year ended 31/05/19
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Balance brought forward
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Advances /(credits) to the directors
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Amounts repaid
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Balance o/standing
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£
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£
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£
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£
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Mr M D N Lane
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2,350
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340
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-
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2,690
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_______
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_______
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_______
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_______
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9.
Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.
10.
Controlling party
On the 12 July 2019, Beer Hawk Limited acquired 100% of the share capital of
Drink Beta Limited
. As Drink Beta Limited
owned 100% of the share capital of BeerBods Limited, this company was also acquired.The immediate parent undertaking is Beer Hawk Limited, registered in the United Kingdom.The registered office and place of business is Bureau, Fetter Lane, London, EC4A 1EN.Beer Hawk Limited have completed consolidated accounts for the year ended 31 December 2019.The ultimate controlling party is Anheuser-Busch InBev NV/SA, incorporated in Belgium.