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REGISTERED NUMBER: SC415272 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Gibson Whisky Ltd

Gibson Whisky Ltd (Registered number: SC415272)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gibson Whisky Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTOR: T Gibson





REGISTERED OFFICE: 25 Huntly Gardens
GLASGOW
G12 9AU





REGISTERED NUMBER: SC415272 (Scotland)





ACCOUNTANTS: The Kelvin Partnership Ltd
Chartered Accountants
The Cooper Building
505 Great Western Road
Glasgow
G12 8HN

Gibson Whisky Ltd (Registered number: SC415272)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 20,318 20,318
Tangible assets 5 - -
20,318 20,318

CURRENT ASSETS
Debtors 6 62,970 62,970
Cash at bank 2,635 2,635
65,605 65,605
CREDITORS
Amounts falling due within one year 7 111,728 111,728
NET CURRENT LIABILITIES (46,123 ) (46,123 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,805

)

(25,805

)

ACCRUALS AND DEFERRED INCOME 10,000 10,000
NET LIABILITIES (35,805 ) (35,805 )

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (36,805 ) (36,805 )
SHAREHOLDERS' FUNDS (35,805 ) (35,805 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Gibson Whisky Ltd (Registered number: SC415272)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 August 2024 and were signed by:





T Gibson - Director


Gibson Whisky Ltd (Registered number: SC415272)

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

1. STATUTORY INFORMATION

Gibson Whisky Ltd 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

Gibson Whisky Ltd (Registered number: SC415272)

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

4. INTANGIBLE FIXED ASSETS
Patents
and Development
licences costs Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 8,700 12,758 21,458
AMORTISATION
At 1 January 2023
and 31 December 2023 1,140 - 1,140
NET BOOK VALUE
At 31 December 2023 7,560 12,758 20,318
At 31 December 2022 7,560 12,758 20,318

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023
and 31 December 2023 333
DEPRECIATION
At 1 January 2023
and 31 December 2023 333
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 62,970 62,970

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 111,728 111,728

8. RELATED PARTY DISCLOSURES

Included within other creditors is £111,128 ( 2022 = £111,128) due to the director, Mr T Gibson.