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REGISTERED NUMBER: 10115611 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2022

FOR

SELECT WHISKY LIMITED

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

SELECT WHISKY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2022







DIRECTORS: R Greenberg
S L Kelaty





REGISTERED OFFICE: 6 Lyttelton Road
London
N2 0EF





REGISTERED NUMBER: 10115611 (England and Wales)





ACCOUNTANTS: The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 2,200 4,400
Tangible assets 5 29,038 33,454
31,238 37,854

CURRENT ASSETS
Stocks 464,947 652,917
Debtors 6 154,784 33,378
Cash at bank and in hand 104,089 51,935
723,820 738,230
CREDITORS
Amounts falling due within one year 7 (62,780 ) (33,696 )
NET CURRENT ASSETS 661,040 704,534
TOTAL ASSETS LESS CURRENT LIABILITIES 692,278 742,388

CREDITORS
Amounts falling due after more than one year 8 (918,587 ) (937,506 )
NET LIABILITIES (226,309 ) (195,118 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (226,409 ) (195,218 )
SHAREHOLDERS' FUNDS (226,309 ) (195,118 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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.

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2022


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 5 September 2022 and were signed on its behalf by:





S L Kelaty - Director


SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022


1. STATUTORY INFORMATION

Select Whisky Limited 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.

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 amounts recoverable on the contracts represents the fair value of the services which had not been invoiced prior to the balance sheet. Hence, this revenue is accrued in the balance sheet under debtors.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Cash and cash equivalent
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest .

Debtors and creditors receivable / payable within one year
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.

Government grants
Government grants are recognised where there is reasonable assurance that the grant will be received. Loans provided and/or guaranteed by government that represent market rates of interest are recorded at the amount of the proceeds received and recognised within Borrowings. Those loans provided and/or guaranteed by government that represent below market rates of interest are measured at inception at their fair value and recognised within Borrowings, with the differential to the proceeds received recorded within Deferred income and released to the relevant financial statement caption in the Income statement on an accruals basis. Grants that compensate the Company for expenses incurred are recognised in the Income statement in the relevant financial statement caption on an accruals basis in the periods in which the expenses are recognised.

Coronavirus Bounce Back Loan (BBL)
On 14th May 2020 the company received £50,000, payable over 5 years, with interest incurred at 2.50%. The initial 12 months interest payments made by the Government will be recognised as grant income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 15 ) .

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2021
and 30 April 2022 6,600
AMORTISATION
At 1 May 2021 2,200
Charge for year 2,200
At 30 April 2022 4,400
NET BOOK VALUE
At 30 April 2022 2,200
At 30 April 2021 4,400

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2021 55,937
Additions 6,682
Disposals (2,535 )
At 30 April 2022 60,084
DEPRECIATION
At 1 May 2021 22,483
Charge for year 8,563
At 30 April 2022 31,046
NET BOOK VALUE
At 30 April 2022 29,038
At 30 April 2021 33,454

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 1,137 10,998
Other debtors 153,647 22,380
154,784 33,378

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 8,012
Trade creditors 44,176 16,894
Taxation and social security 1,034 2,257
Other creditors 7,570 6,533
62,780 33,696

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 30,834 41,988
Other creditors 887,753 895,518
918,587 937,506

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 834 13,957

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

10. RELATED PARTY DISCLOSURES

Other creditors for more than one year include amounts of £887,753 (2021: £895,518) owing to companies closely associated with R Greenberg or her family members.

S L Kelaty
The company director


During the period the following transactions occurred between the company and the director.

2022 2021
£ £

Advances by the director to the company 341
Repayments by the company to the director 1,222 8,321
Dividends paid to the director
Amounts due from director at end of the period 9,202 8,321


SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2022


10. RELATED PARTY DISCLOSURES - continued

Really Good Whisky

A company under common control


2022 2021
£    £   
Amount due from related party at the balance sheet date 180 -

A Weiler

The majority shareholder of the company


2022 2021
£    £   
Amount due from related party at the balance sheet date 13,749 -

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SELECT WHISKY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Select Whisky Limited for the year ended 30 April 2022 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Select Whisky Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Select Whisky Limited and state those matters that we have agreed to state to the Board of Directors of Select Whisky Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Select Whisky Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Select Whisky Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Select Whisky Limited. You consider that Select Whisky Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Select Whisky Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






The Paris Partnership LLP
Chartered Accountants
Russell House
140 High Street
Edgware
Middlesex
HA8 7LW


5 September 2022