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Company registration number: SC591130
Alistair Walker Whisky Company Ltd
Trading as Alistiar Walker Whisky Company Ltd
Unaudited filleted financial statements
31 March 2023
Alistair Walker Whisky Company Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Alistair Walker Whisky Company Ltd
Directors and other information
Director Mr Alistair Walker
Company number SC591130
Registered office 19 Cambridge Crescent
Falkirk
FK2 8SL
Business address 19 Cambridge Crescent
Falkirk
FK2 8SL
Alistair Walker Whisky Company Ltd
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Intangible assets 5 3,297 3,769
Tangible assets 6 1,662 1,930
_______ _______
4,959 5,699
Current assets
Stocks 1,844,983 1,712,028
Debtors 7 95,141 64,241
Cash at bank and in hand 121,850 185,897
_______ _______
2,061,974 1,962,166
Creditors: amounts falling due
within one year 8 ( 1,735,913) ( 1,733,425)
_______ _______
Net current assets 326,061 228,741
_______ _______
Total assets less current liabilities 331,020 234,440
_______ _______
Net assets 331,020 234,440
_______ _______
Capital and reserves
Called up share capital 10 10
Profit and loss account 331,010 234,430
_______ _______
Shareholder funds 331,020 234,440
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 02 November 2023 , and are signed on behalf of the board by:
Mr Alistair Walker
Director
Company registration number: SC591130
Alistair Walker Whisky Company Ltd
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Alistair Walker Whisky Company Ltd, 19 Cambridge Crescent, Falkirk, FK2 8SL.
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'.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at a revalued amount, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Staff costs
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
The aggregate payroll costs incurred during the year were:
2023 2022
£ £
Other pension costs 76,400 -
_______ _______
5. Intangible assets
Other intangible assets Total
£ £
Cost
At 1 April 2022 and 31 March 2023 4,725 4,725
_______ _______
Amortisation
At 1 April 2022 955 955
Charge for the year 473 473
_______ _______
At 31 March 2023 1,428 1,428
_______ _______
Carrying amount
At 31 March 2023 3,297 3,297
_______ _______
At 31 March 2022 3,770 3,770
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2022 3,397 3,397
Additions 26 26
_______ _______
At 31 March 2023 3,423 3,423
_______ _______
Depreciation
At 1 April 2022 1,468 1,468
Charge for the year 293 293
_______ _______
At 31 March 2023 1,761 1,761
_______ _______
Carrying amount
At 31 March 2023 1,662 1,662
_______ _______
At 31 March 2022 1,929 1,929
_______ _______
7. Debtors
2023 2022
£ £
Trade debtors 91,552 61,741
Other debtors 3,589 2,500
_______ _______
95,141 64,241
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Trade creditors 10,926 1,321
Corporation tax 22,828 29,871
Social security and other taxes - 846
Other creditors 1,702,159 1,701,387
_______ _______
1,735,913 1,733,425
_______ _______