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Company registration number:
10871366
Harley House Distillery Ltd
Unaudited Filleted Financial Statements for the year ended
31 July 2023
Harley House Distillery Ltd
Report of the Accountant to the directors of Harley House Distillery Ltd
Year ended
31 July 2023
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 July 2023
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
H ROBINSON
79 Sutton Road
Seaford
BN25 4QH
United Kingdom
Date:
4 March 2024
Harley House Distillery Ltd
Statement of Financial Position
31 July 2023
20232022
Note££
Fixed assets    
Tangible assets 5
15,031
  -  
Current assets    
Stocks
28,762
  -  
Debtors 6
34,107
  -  
Cash at bank and in hand
15,568
 
100
 
78,437
 
100
 
Creditors: amounts falling due within one year 7
(9,050
) -  
Net current assets
69,387
 
100
 
Total assets less current liabilities 84,418   100  
Creditors: amounts falling due after more than one year 8
(74,532
) -  
Provisions for liabilities
(3,006
) -  
Net assets
6,880
 
100
 
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
6,780
  -  
Shareholders funds
6,880
 
100
 
For the year ending
31 July 2023
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge 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.
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
4 March 2024
, and are signed on behalf of the board by:
A Cowley
Director
Company registration number:
10871366
Harley House Distillery Ltd
Notes to the Financial Statements
Year ended
31 July 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
79 Sutton Road
,
Seaford
,
BN25 4QH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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. However, the increase is recognised in profit or loss to the extent that 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. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
15% Reducing Balance
Motor vehicles
25% Reducing Balance

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.

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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Defined contribution pension plan

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.

Operating leases

A lease is classified as an operating lease if it does not transfer substantially all the risks and rewards incidental to ownership. Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022: nil).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 August 2022
-  
Additions
21,867
 
Disposals
(3,000
)
At
31 July 2023
18,867
 
Depreciation  
At
1 August 2022
-  
Charge
3,836
 
At
31 July 2023
3,836
 
Carrying amount  
At
31 July 2023
15,031
 
At 31 July 2022 -  

6 Debtors

20232022
££
Trade debtors
8,598
  -  
Other debtors
25,509
  -  
34,107
  -  

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
3,313
  -  
Trade creditors
3,002
  -  
Taxation and social security
2,808
  -  
Other creditors
(73
) -  
9,050
  -  

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
5,500
  -  
Other creditors
69,032
  -  
74,532
  -  

9 Operating leases

The company as lessee    
20232022
££
Not later than 1 year
444
 
0.00
 
Later than 1 year and not later than 5 years
1,240
 
0.00
 
1,684
 -