Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 SC194873 Mr Simon Briggs Mrs Janice McAdam Mr Richard Meadows iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC194873 2023-03-31 SC194873 2024-03-31 SC194873 2023-04-01 2024-03-31 SC194873 frs-core:CurrentFinancialInstruments 2024-03-31 SC194873 frs-core:BetweenOneFiveYears 2024-03-31 SC194873 frs-core:FurnitureFittings 2024-03-31 SC194873 frs-core:FurnitureFittings 2023-04-01 2024-03-31 SC194873 frs-core:FurnitureFittings 2023-03-31 SC194873 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-03-31 SC194873 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-04-01 2024-03-31 SC194873 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-31 SC194873 frs-core:MotorVehicles 2024-03-31 SC194873 frs-core:MotorVehicles 2023-04-01 2024-03-31 SC194873 frs-core:MotorVehicles 2023-03-31 SC194873 frs-core:PlantMachinery 2024-03-31 SC194873 frs-core:PlantMachinery 2023-04-01 2024-03-31 SC194873 frs-core:PlantMachinery 2023-03-31 SC194873 frs-core:WithinOneYear 2024-03-31 SC194873 frs-core:ShareCapital 2024-03-31 SC194873 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 SC194873 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC194873 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 SC194873 frs-bus:SmallEntities 2023-04-01 2024-03-31 SC194873 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC194873 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 SC194873 frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC194873 frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC194873 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC194873 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC194873 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-03-31 SC194873 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-03-31 SC194873 frs-bus:Director1 2023-04-01 2024-03-31 SC194873 frs-bus:Director1 2023-03-31 SC194873 frs-bus:Director1 2024-03-31 SC194873 frs-bus:Director2 2023-04-01 2024-03-31 SC194873 frs-bus:Director3 2023-04-01 2024-03-31 SC194873 frs-countries:Scotland 2023-04-01 2024-03-31 SC194873 2022-03-31 SC194873 2023-03-31 SC194873 2022-04-01 2023-03-31 SC194873 frs-core:CurrentFinancialInstruments 2023-03-31 SC194873 frs-core:BetweenOneFiveYears 2023-03-31 SC194873 frs-core:WithinOneYear 2023-03-31 SC194873 frs-core:ShareCapital 2023-03-31 SC194873 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: SC194873
The Great Grog Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: SC194873
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 61,785 72,660
Investments 5 2,000 2,000
63,785 74,660
CURRENT ASSETS
Stocks 6 240,293 200,375
Debtors 7 294,969 202,519
Cash at bank and in hand 62,037 96,207
597,299 499,101
Creditors: Amounts Falling Due Within One Year 8 (211,082 ) (210,436 )
NET CURRENT ASSETS (LIABILITIES) 386,217 288,665
TOTAL ASSETS LESS CURRENT LIABILITIES 450,002 363,325
PROVISIONS FOR LIABILITIES
Deferred Taxation (14,851 ) (15,080 )
NET ASSETS 435,151 348,245
CAPITAL AND RESERVES
Called up share capital 20,003 20,003
Profit and Loss Account 415,148 328,242
SHAREHOLDERS' FUNDS 435,151 348,245
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Meadows
Director
31/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Great Grog Company Limited is a private company, limited by shares, incorporated in Scotland, registered number SC194873 . The registered office is 16 Old Kirk Road, Edinburgh, EH12 6JX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents the total invoice value, excluding discounts and value added tax, of sales made during the year.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold straight line over the period of the lease
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.
2.6. Financial Instruments
The company only has financial assets and financial liabilities of a kind which qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at settlement value.
2.7. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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 in the reversal of the timing difference.
Unrelileved 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.
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 15 (2023: 14)
15 14
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4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2023 4,200 54,238 82,966 27,448 168,852
Additions - 4,732 - 4,679 9,411
Disposals - (41,711 ) - - (41,711 )
As at 31 March 2024 4,200 17,259 82,966 32,127 136,552
Depreciation
As at 1 April 2023 84 45,059 37,346 13,703 96,192
Provided during the period 1,738 2,141 11,405 3,410 18,694
Disposals - (40,119 ) - - (40,119 )
As at 31 March 2024 1,822 7,081 48,751 17,113 74,767
Net Book Value
As at 31 March 2024 2,378 10,178 34,215 15,014 61,785
As at 1 April 2023 4,116 9,179 45,620 13,745 72,660
5. Investments
Unlisted
£
Cost
As at 1 April 2023 2,000
As at 31 March 2024 2,000
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 2,000
As at 1 April 2023 2,000
6. Stocks
2024 2023
£ £
Stock 240,293 200,375
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 281,996 190,711
Other debtors 12,973 11,808
294,969 202,519
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 128,838 147,249
Other creditors 4,638 9,623
Taxation and social security 77,606 53,564
211,082 210,436
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 44,000 -
Later than one year and not later than five years 14,555 111,943
58,555 111,943
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Richard Meadows 79 - 79 - -
The Director's loan includes interest charged on the amount outstanding at 2.25%.
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