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Company No: 08745923 (England and Wales)

DARTMOOR DISTILLERY LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

DARTMOOR DISTILLERY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

DARTMOOR DISTILLERY LIMITED

COMPANY INFORMATION

For the financial year ended 31 January 2024
DARTMOOR DISTILLERY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTORS Mr A R Bolt
Ms R Coe
Mr J G Lawton
Mr T J Whitley
SECRETARY Ms R Coe
REGISTERED OFFICE Sigma House Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom
COMPANY NUMBER 08745923 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
DARTMOOR DISTILLERY LIMITED

BALANCE SHEET

As at 31 January 2024
DARTMOOR DISTILLERY LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 6,747 8,433
6,747 8,433
Current assets
Stocks 19,893 22,027
Debtors 5 79,052 47,691
Cash at bank and in hand 23,814 29,254
122,759 98,972
Creditors: amounts falling due within one year 6 ( 88,333) ( 67,830)
Net current assets 34,426 31,142
Total assets less current liabilities 41,173 39,575
Net assets 41,173 39,575
Capital and reserves
Called-up share capital 8 40 40
Profit and loss account 41,133 39,535
Total shareholders' funds 41,173 39,575

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dartmoor Distillery Limited (registered number: 08745923) were approved and authorised for issue by the Board of Directors on 18 June 2024. They were signed on its behalf by:

Mr J G Lawton
Director
DARTMOOR DISTILLERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
DARTMOOR DISTILLERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dartmoor Distillery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.

The address of the Company's registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF

The principle place of business is:
The Maltings
Teign Road
Newton abbot
TQ12 4AA

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

In the opinion of the directors, the company has sufficient working capital within existing facilities to continue to trade for the foreseeable future, and therefore the financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax in respect of the sale of goods and services to customers.

Taxation

Current tax
Tax is recognised in the profit and loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are the differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profits.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 3 years straight line
Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives as follows:

Leasehold improvements 5 years straight line
Fixtures and fittings 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Intangible assets

Computer software Total
£ £
Cost
At 01 February 2023 4,630 4,630
At 31 January 2024 4,630 4,630
Accumulated amortisation
At 01 February 2023 4,630 4,630
At 31 January 2024 4,630 4,630
Net book value
At 31 January 2024 0 0
At 31 January 2023 0 0

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 February 2023 6,177 28,221 34,398
At 31 January 2024 6,177 28,221 34,398
Accumulated depreciation
At 01 February 2023 6,177 19,788 25,965
Charge for the financial year 0 1,686 1,686
At 31 January 2024 6,177 21,474 27,651
Net book value
At 31 January 2024 0 6,747 6,747
At 31 January 2023 0 8,433 8,433

5. Debtors

2024 2023
£ £
Trade debtors 3,426 2,812
Prepayments 404 404
Other debtors 75,222 44,475
79,052 47,691

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 485 1,240
Amounts owed to directors 80,420 56,470
Accruals 1,650 1,728
Deferred tax liability 1,282 0
Taxation and social security 4,496 8,392
88,333 67,830

7. Deferred tax

2024 2023
£ £
At the beginning of financial year 0 0
Charged to the Profit and Loss Account ( 1,282) 0
At the end of financial year ( 1,282) 0

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 10.00 each 40 40

9. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet related to rent is £4,846 (2023- £4,846).