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REGISTERED NUMBER: SC454474 (Scotland)















Financial Statements for the Year Ended 31 December 2021

for

Dunnet Bay Distillers Ltd.

Dunnet Bay Distillers Ltd. (Registered number: SC454474)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Dunnet Bay Distillers Ltd.

Company Information
for the Year Ended 31 December 2021







DIRECTORS: M J Murray
Mrs C M Murray





REGISTERED OFFICE: Ribbon House
West Side
Dunnet
Thurso
Caithness
KW14 8YD





REGISTERED NUMBER: SC454474 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Balance Sheet
31 December 2021

2021 2020
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 851,626 792,666
851,626 792,666

CURRENT ASSETS
Stocks 245,399 337,649
Debtors 6 167,588 156,275
Cash at bank and in hand 732,590 807,180
1,145,577 1,301,104
CREDITORS
Amounts falling due within one year 7 (177,891 ) (197,232 )
NET CURRENT ASSETS 967,686 1,103,872
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,819,312

1,896,538

CREDITORS
Amounts falling due after more than one
year

8

(148,225

)

(199,853

)

PROVISIONS FOR LIABILITIES 9 (33,238 ) (36,119 )

ACCRUALS AND DEFERRED INCOME (80,255 ) (77,737 )
NET ASSETS 1,557,594 1,582,829

CAPITAL AND RESERVES
Called up share capital 108 108
Share premium 468,025 468,025
Retained earnings 1,089,461 1,114,696
SHAREHOLDERS' FUNDS 1,557,594 1,582,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Balance Sheet - continued
31 December 2021


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

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 15 August 2022 and were signed on its behalf by:





M J Murray - Director


Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Dunnet Bay Distillers Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

TURNOVER
Turnover derives from the production and sale of gin and vodka, net of value added tax.

INTANGIBLE ASSETS - PRODUCT DESIGN
Product design costs are initially recognised at cost and are subsequently carried at cost less accumulated amortisation and accumulated impairment losses.These costs are amortised to profit or loss on a straight-line basis 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% straight line
Plant and machinery - 10% straight line
Motor vehicles - 20% straight line
Office equipment - 20% straight line

STOCKS
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

RESEARCH AND DEVELOPMENT
Research and development costs are incurred in respect of product development and are recognised in the profit and loss account in the year in which they are incurred.

Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

2. ACCOUNTING POLICIES - continued

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GOVERNMENT GRANTS
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by annual instalments.

Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2020 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2021
and 31 December 2021 10,209
AMORTISATION
At 1 January 2021
and 31 December 2021 10,209
NET BOOK VALUE
At 31 December 2021 -
At 31 December 2020 -

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2021 735,063 246,526 33,785 22,147 1,037,521
Additions 103,917 13,822 - 806 118,545
At 31 December 2021 838,980 260,348 33,785 22,953 1,156,066
DEPRECIATION
At 1 January 2021 96,129 111,301 23,086 14,339 244,855
Charge for year 22,962 26,035 6,757 3,831 59,585
At 31 December 2021 119,091 137,336 29,843 18,170 304,440
NET BOOK VALUE
At 31 December 2021 719,889 123,012 3,942 4,783 851,626
At 31 December 2020 638,934 135,225 10,699 7,808 792,666

Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2021
and 31 December 2021 9,665
DEPRECIATION
At 1 January 2021 1,643
Charge for year 967
At 31 December 2021 2,610
NET BOOK VALUE
At 31 December 2021 7,055
At 31 December 2020 8,022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 154,235 152,819
Other debtors 13,353 3,456
167,588 156,275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 40,000 23,333
Hire purchase contracts 2,157 2,157
Trade creditors 98,342 80,430
Other creditors 37,392 91,312
177,891 197,232

Other creditors include £19,605 (2020 - £74,548) in respect of taxation and social security.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2021 2020
£    £   
Bank loans 136,667 176,667
Hire purchase contracts 2,696 4,853
Other creditors 8,862 18,333
148,225 199,853

Dunnet Bay Distillers Ltd. (Registered number: SC454474)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2021 2020
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 16,667

9. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 33,238 36,119

Deferred
tax
£   
Balance at 1 January 2021 36,119
Provided during year (2,881 )
Balance at 31 December 2021 33,238

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs M Murray, who together own 92.45% of the issued share capital.