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REGISTERED NUMBER: SC512759















THE VOYAGE OF BUCK LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 860,904 655,858

CURRENT ASSETS
Stocks 13,280 12,571
Debtors 5 31,925 21,865
Cash at bank and in hand 1,253 61,351
46,458 95,787
CREDITORS
Amounts falling due within one year 6 361,514 573,405
NET CURRENT LIABILITIES (315,056 ) (477,618 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,848

178,240

CREDITORS
Amounts falling due after more than one
year

7

(497,248

)

(445,563

)

PROVISIONS FOR LIABILITIES (43,904 ) -
NET ASSETS/(LIABILITIES) 4,696 (267,323 )

CAPITAL AND RESERVES
Called up share capital 200 200
Revaluation reserve 9 187,173 -
Retained earnings (182,677 ) (267,523 )
SHAREHOLDERS' FUNDS 4,696 (267,323 )

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 VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

BALANCE SHEET - continued
30 JUNE 2023


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 and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2024 and were signed on its behalf by:





M W Luney - Director


THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

The Voyage of Buck Limited is a private company, limited by shares, registered in Scotland. The registered office is Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.

The financial statements are presented in Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard. The financial statements have been prepared under the historical cost convention modified for the revaluation of freehold property.

Going concern
At the balance sheet date the company's liabilities exceeded its assets and its ability to trade is dependent on the continued financial support of its directors. After due consideration, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover comprises the invoiced value of goods sold during the year, excluding value added tax. The company's policy is to recognise a sale when substantively all the risks and rewards in connection with the goods have been passed to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

Fixed assets are included in the balance sheet at cost less accumulated depreciation and accumulated impairment losses.

Freehold property
The company's freehold property held at market value is accounted for as follows:-

(i) initially recorded at cost which includes purchase cost and any directly attributable expenditure.

(ii) Thereafter, the property is revalued at each balance sheet date to it's fair value, where this can be measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a non-distributable reserve in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount which is the higher of value in use and the fair value less cost to sell, is estimated and compared with the carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit and loss.

THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Government grants
Government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans to and from third parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence of impairment and if found, an impairment loss is recognised in profit or loss.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Cash and cash equivalents includes cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Taxation
Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Judgements
The company considers on an annual basis the judgements that are made by management when applying its significant accounting policies that would have the most significant effect on amounts that are recognised in the financial statements. The directors consider there are no such significant judgements.

Provisions
Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle the obligation and the amount of the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to settle the obligation at the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 637,782 180,959 818,741
Additions - 2,432 2,432
Revaluations 132,219 - 132,219
At 30 June 2023 770,001 183,391 953,392
DEPRECIATION
At 1 July 2022 86,102 76,781 162,883
Charge for year 12,756 15,707 28,463
Revaluation adjustments (98,858 ) - (98,858 )
At 30 June 2023 - 92,488 92,488
NET BOOK VALUE
At 30 June 2023 770,001 90,903 860,904
At 30 June 2022 551,680 104,178 655,858

Cost or valuation at 30 June 2023 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2023 132,219 - 132,219
Cost 637,782 183,391 821,173
770,001 183,391 953,392

THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

If freehold buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 637,781 637,781
Aggregate depreciation 98,857 86,102

Freehold buildings were valued on an open market basis on 10 February 2023 by Graham + Sibbald Chartered Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 6,804
Other debtors 31,925 15,061
31,925 21,865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 8,131 -
Trade creditors 60,064 60,937
Amounts owed to group undertakings 285,852 435,765
Taxation and social security 5,198 14,992
Other creditors 2,269 61,711
361,514 573,405

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 497,248 445,563

Amounts falling due in more than five years:

Repayable by instalments
In more than 5 years - 205,563

THE VOYAGE OF BUCK LIMITED (REGISTERED NUMBER: SC512759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft 8,131 -
Other loans 497,248 505,563
505,379 505,563

The other loan is secured by a standard security over all the assets of the company.

The bank overdraft is secured by a floating charge over the assets of the company.

9. RESERVES
Revaluation
reserve
£   
Revaluation 187,173

At 30 June 2023 187,173

10. ULTIMATE PARENT COMPANY

The ultimate parent company is Big Red Teapot Limited which has its registered office at Caledonia House, 89 Seaward Street, Glasgow, G41 1HJ.