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REGISTERED NUMBER: SC270220 (Scotland)















Unaudited Financial Statements for the Year Ended 31 July 2023

for

The Malt Whisky Company Limited

The Malt Whisky Company Limited (Registered number: SC270220)






Contents of the Financial Statements
for the Year Ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


The Malt Whisky Company Limited

Company Information
for the Year Ended 31 July 2023







DIRECTORS: S Nickerson
Mrs W Nickerson





REGISTERED OFFICE: 56 Druids Park
Murthly
Perth
Perthshire
PH1 4EJ





REGISTERED NUMBER: SC270220 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

The Malt Whisky Company Limited (Registered number: SC270220)

Statement of Financial Position
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,686 2,181
Investments 5 24,925 24,925
26,611 27,106

CURRENT ASSETS
Stocks 124,941 264,712
Debtors 6 573,916 489,593
Prepayments and accrued income - 1,868
Cash at bank and in hand 473,745 30,635
1,172,602 786,808
CREDITORS
Amounts falling due within one year 7 136,799 192,599
NET CURRENT ASSETS 1,035,803 594,209
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,062,414

621,315

PROVISIONS FOR LIABILITIES 421 415
NET ASSETS 1,061,993 620,900

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,061,893 620,800
SHAREHOLDERS' FUNDS 1,061,993 620,900

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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:





S Nickerson - Director


The Malt Whisky Company Limited (Registered number: SC270220)

Notes to the Financial Statements
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

The Malt Whisky Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

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 - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipments - 25% on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

The Malt Whisky Company Limited (Registered number: SC270220)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipments Totals
£    £    £    £   
COST
At 1 August 2022 4,623 2,958 7,614 15,195
Additions - - 633 633
At 31 July 2023 4,623 2,958 8,247 15,828
DEPRECIATION
At 1 August 2022 4,387 2,223 6,404 13,014
Charge for year 97 354 677 1,128
At 31 July 2023 4,484 2,577 7,081 14,142
NET BOOK VALUE
At 31 July 2023 139 381 1,166 1,686
At 31 July 2022 236 735 1,210 2,181

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 24,925
NET BOOK VALUE
At 31 July 2023 24,925
At 31 July 2022 24,925

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 9,691 861
Shetland Distillery 16,781 16,781
Tipperary Distillery 545,291 471,291
VAT 2,153 660
573,916 489,593

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade creditors 8,597 915
Tax 118,298 -
Other creditors 2,500 2,000
Directors' current accounts 6,144 188,641
Accrued expenses 1,260 1,043
136,799 192,599

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 (2022 - £4,000) were paid to the directors .

The Malt Whisky Company Limited (Registered number: SC270220)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023

8. RELATED PARTY DISCLOSURES - continued

From time to time the company enters into transactions with other Companies under common control or in which significant influence is held by the directors. Where these transactions have been made under normal market conditions specific details are not provided.

Balances owed from companies in which the directors exert influence

2023 2022
Receivable Receivable
£    £   

Loan balances with other group companies 562,071 488,071

The above loans are repayable upon demand and are interest free.