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REGISTERED NUMBER: 13591429 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

SOUTH DOWNS SPIRITS COMPANY LIMITED
TRADING AS
GOLDSTONE RUM

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOUTH DOWNS SPIRITS COMPANY LIMITED
TRADING AS GOLDSTONE RUM

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: G A Bowell
J P Bowell





REGISTERED OFFICE: Unit 43 Henfield Business Park
Shoreham Road
Henfield
BN5 9SL





REGISTERED NUMBER: 13591429 (England and Wales)





ACCOUNTANTS: Galloways Accounting
Atlas Chambers
33 West Street
Brighton
East Sussex
BN1 2RE

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,908 565
Tangible assets 5 57,449 92,686
63,357 93,251

CURRENT ASSETS
Stocks 1,832 -
Debtors 6 12,984 13,605
Cash at bank 2,008 3,976
16,824 17,581
CREDITORS
Amounts falling due within one year 7 180,088 145,996
NET CURRENT LIABILITIES (163,264 ) (128,415 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(99,907

)

(35,164

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (99,909 ) (35,166 )
(99,907 ) (35,164 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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.

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 March 2024 and were signed on its behalf by:





G A Bowell - Director


SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

South Downs Spirits Company 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the provision of drinks, tours & schooling of spirits, and is recognised at point of sale or when service obligations are met.

Intangible assets
Intangible assets are initially measured at cost and subsequently are measured at cost less any accumulated amortisation over 10 years, and any accumulated impairment losses.

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 - 33% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

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.

Going concern
After reviewing the company's forecasts, the directors have confirmed they will continue to support the company so it is able to meet its liabilities as they fall due.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


4. INTANGIBLE FIXED ASSETS
Patents
and
licences Website Totals
£    £    £   
COST
At 1 September 2022 570 - 570
Additions - 6,000 6,000
At 31 August 2023 570 6,000 6,570
AMORTISATION
At 1 September 2022 5 - 5
Amortisation for year 57 600 657
At 31 August 2023 62 600 662
NET BOOK VALUE
At 31 August 2023 508 5,400 5,908
At 31 August 2022 565 - 565

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 95,828 3,830 827 100,485
Additions - 1,912 - 1,912
Disposals (5,050 ) - - (5,050 )
At 31 August 2023 90,778 5,742 827 97,347
DEPRECIATION
At 1 September 2022 7,533 111 155 7,799
Charge for year 30,927 1,133 207 32,267
Eliminated on disposal (168 ) - - (168 )
At 31 August 2023 38,292 1,244 362 39,898
NET BOOK VALUE
At 31 August 2023 52,486 4,498 465 57,449
At 31 August 2022 88,295 3,719 672 92,686

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,275 -
VAT - 13,031
Prepayments 709 574
12,984 13,605

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 7,500 20,000
Trade creditors - 300
VAT 1,793 -
Directors' loan accounts 169,003 124,152
Accruals and deferred income 1,792 1,544
180,088 145,996