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REGISTERED NUMBER: SC588513 (Scotland)















Financial Statements for the Year Ended 30 June 2023

for

LOCH NESS BEVERAGES LTD.

LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Balance Sheet 1

Notes to the Financial Statements 2


LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
Fixed assets
Tangible assets 4 2,241 4,367

Current assets
Stocks 5 52,634 43,176
Debtors 6 46,533 52,354
Cash at bank 11,928 17,318
111,095 112,848
Creditors
Amounts falling due within one year 7 (100,711 ) (115,471 )
Net current assets/(liabilities) 10,384 (2,623 )
Total assets less current liabilities 12,625 1,744

Creditors
Amounts falling due after more than one
year

8

(21,842

)

(31,719

)

Provisions for liabilities - (830 )
Net liabilities (9,217 ) (30,805 )

Capital and reserves
Called up share capital 9 100 100
Retained earnings (9,317 ) (30,905 )
Shareholders' funds (9,217 ) (30,805 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 March 2024 and were signed on its behalf by:





D J Campbell - Director


LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. Statutory information

Loch Ness Beverages Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC588513

Registered office: 71 Peffer Place
Peffer Mill Business Park
Edinburgh
EH16 4BB

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 net of VAT and trade discounts.The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover from the sale of goods supplied is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Plant and machinery - 33.3% straight line
Fixtures and fittings - 33.3% straight line

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


2. Accounting policies - continued
Taxation
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred taxation represents the future taxation consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, withcertain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits.

Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year.

Interest income
Interest income is recognised on an accruals basis.

Debtors and creditor 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.

Bank and cash
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

3. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

4. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 July 2022 14,968 2,243 17,211
Additions 1,854 - 1,854
At 30 June 2023 16,822 2,243 19,065
Depreciation
At 1 July 2022 10,601 2,243 12,844
Charge for year 3,980 - 3,980
At 30 June 2023 14,581 2,243 16,824
Net book value
At 30 June 2023 2,241 - 2,241
At 30 June 2022 4,367 - 4,367

5. Stocks
2023 2022
£    £   
Stocks 52,634 43,176

LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 31,469 22,103
Other debtors 15,064 30,251
46,533 52,354

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 9,733 9,588
Trade creditors 12,067 25,032
Taxation and social security (410 ) -
Other creditors 79,321 80,851
100,711 115,471

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 21,842 31,719

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100