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GORGEOUS GIN LIMITED

Registered Number
SC588556
(Scotland)

Unaudited Financial Statements for the Period ended
28 February 2024

GORGEOUS GIN LIMITED
Company Information
for the period from 1 March 2023 to 28 February 2024

Director

Gail Marion Sneddon

Registered Address

18 Tayview Terrace
Newport-On-Tay
DD6 8AT

Registered Number

SC588556 (Scotland)
GORGEOUS GIN LIMITED
Balance Sheet as at
28 February 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,6802,520
1,6802,520
Current assets
Stocks6,1603,500
Debtors4-1,167
Cash at bank and on hand3371,208
6,4975,875
Creditors amounts falling due within one year5(16,684)(12,258)
Net current assets (liabilities)(10,187)(6,383)
Total assets less current liabilities(8,507)(3,863)
Provisions for liabilities(319)-
Net assets(8,826)(3,863)
Capital and reserves
Called up share capital11
Profit and loss account(8,827)(3,864)
Shareholders' funds(8,826)(3,863)
The financial statements were approved and authorised for issue by the Director on 23 July 2024, and are signed on its behalf by:
Gail Marion Sneddon
Director
Registered Company No. SC588556
GORGEOUS GIN LIMITED
Notes to the Financial Statements
for the period ended 28 February 2024

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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the director who has confirmed that they will continue to support the company as required.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixed assets are stated at cost, being purchase price, less accumulated depreciation.

Straight line (years)
Plant and machinery5
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
At 01 March 234,2004,200
At 28 February 244,2004,200
Depreciation and impairment
At 01 March 231,6801,680
Charge for year840840
At 28 February 242,5202,520
Net book value
At 28 February 241,6801,680
At 28 February 232,5202,520
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables-162
Other debtors-1,005
Total-1,167
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,2001,950
Other creditors14,3447,968
Accrued liabilities and deferred income1,1402,340
Total16,68412,258