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CASK SMUGGLERS LTD

Registered Number
SC658034
(Scotland)

Unaudited Financial Statements for the Year ended
31 October 2023

CASK SMUGGLERS LTD
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

KEANE, Simon Paul

Registered Address

242 Morrison Street
Edinburgh
EH3 8DT

Registered Number

SC658034 (Scotland)
CASK SMUGGLERS LTD
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Called up share capital not paid1010
Fixed assets
Tangible assets3101,449113,133
101,449113,133
Current assets
Stocks419,79119,015
Debtors18,12513,375
Cash at bank and on hand150,197162,091
188,113194,481
Creditors amounts falling due within one year5(229,382)(209,610)
Net current assets (liabilities)(41,259)(15,119)
Total assets less current liabilities60,19098,014
Creditors amounts falling due after one year6(239)(38,663)
Net assets59,95159,351
Capital and reserves
Called up share capital1010
Profit and loss account59,94159,341
Shareholders' funds59,95159,351
The financial statements were approved and authorised for issue by the Director on 20 July 2024, and are signed on its behalf by:
KEANE, Simon Paul
Director
Registered Company No. SC658034
CASK SMUGGLERS LTD
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Land and buildings5
Office Equipment5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year2313
3.Tangible fixed assets

Land & buildings

Office Equipment

Total

£££
Cost or valuation
At 01 November 22125,8521,346127,198
Additions13,4532,51415,967
At 31 October 23139,3053,860143,165
Depreciation and impairment
At 01 November 2213,83023514,065
Charge for year27,15050127,651
At 31 October 2340,98073641,716
Net book value
At 31 October 2398,3253,124101,449
At 31 October 22112,0221,111113,133
4.Stocks

2023

2022

££
Raw materials and consumables19,79119,015
Total19,79119,015
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables139,80471,317
Taxation and social security46,25334,927
Other creditors32,12549,722
Accrued liabilities and deferred income11,20053,644
Total229,382209,610
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Other creditors23938,663
Total23938,663