Silverfin true 28/02/2023 01/03/2022 28/02/2023 G Gray 24/02/2022 D Seear 01/08/2023 07 November 2023 The principal activity of the Company during the year was that of a dormant holding company. 13939153 2023-02-28 13939153 bus:Director1 2023-02-28 13939153 bus:Director2 2023-02-28 13939153 core:Non-currentFinancialInstruments 2023-02-28 13939153 core:ShareCapital 2023-02-28 13939153 core:SharePremium 2023-02-28 13939153 core:AdditionsToInvestments 2023-02-28 13939153 core:CostValuation 2023-02-28 13939153 core:SubsidiariesWithMaterialNon-controllingInterests core:Non-currentFinancialInstruments 2023-02-28 13939153 bus:OrdinaryShareClass1 2023-02-28 13939153 2022-03-01 2023-02-28 13939153 bus:FullAccounts 2022-03-01 2023-02-28 13939153 bus:SmallEntities 2022-03-01 2023-02-28 13939153 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 13939153 bus:EntityHasNeverTraded 2022-03-01 2023-02-28 13939153 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13939153 bus:Director1 2022-03-01 2023-02-28 13939153 bus:Director2 2022-03-01 2023-02-28 13939153 core:Subsidiary1 2022-03-01 2023-02-28 13939153 core:Subsidiary1 1 2022-03-01 2023-02-28 13939153 core:Subsidiary2 2022-03-01 2023-02-28 13939153 core:Subsidiary2 1 2022-03-01 2023-02-28 13939153 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure decimalUnit xbrli:shares

Company No: 13939153 (England and Wales)

DEVON LIQUOR COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 28 February 2023
Pages for filing with the registrar

DEVON LIQUOR COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 28 February 2023

Contents

DEVON LIQUOR COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

As at 28 February 2023
DEVON LIQUOR COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2023
Note 2023
£
Fixed assets
Investments 3 2
2
Current assets
Debtors
- due after more than one year 4 70,078
70,078
Net current assets 70,078
Total assets less current liabilities 70,080
Net assets 70,080
Capital and reserves
Called-up share capital 5 100
Share premium account 69,980
Total shareholders' funds 70,080

Devon Liquor Company Limited (registered number: 13939153) did not trade during the current financial year and has made neither profit nor loss, nor any other comprehensive income. There have been no movements in shareholders’ funds during the current financial year and therefore no Statement of Changes of Equity has been included. For the financial year ending 28 February 2023 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The financial statements of Devon Liquor Company Limited (registered number: 13939153) were approved and authorised for issue by the Director on 07 November 2023. They were signed on its behalf by:

D Seear
Director
DEVON LIQUOR COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
DEVON LIQUOR COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year, unless otherwise stated.

General information and basis of accounting

Devon Liquor Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2nd Floor Stratus House Emperor Way, Exeter Business Park, Exeter, EX1 3QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023
Number
Monthly average number of persons employed by the Company during the year, including directors 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 March 2022 0
Additions 2
At 28 February 2023 2
Carrying value at 28 February 2023 2

Investments in shares

Name of entity Registered office Nature of business Class of
shares
Ownership
28.02.2023
Devon Rum Company Ltd 2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS Rum distilling and wholesale Ordinary 100.00%
Devon Tequila Company Limited 2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS Tequila distilling and wholesale Ordinary 100.00%

4. Debtors

2023
£
Debtors: amounts falling due after more than one year
Amounts owed by own subsidiaries 69,998
Other debtors 80
70,078

5. Called-up share capital

2023
£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100

In the financial year 2023 100 Ordinary shares were allotted with an aggregate nominal value of £100 and consideration of £70,000 was received.