Silverfin false false 31/12/2023 01/01/2023 31/12/2023 J P Smith 01/12/2017 11 September 2024 The principal activity of the Company during the financial year was the production of alcoholic spirits. 11092489 2023-12-31 11092489 bus:Director1 2023-12-31 11092489 2022-12-31 11092489 core:CurrentFinancialInstruments 2023-12-31 11092489 core:CurrentFinancialInstruments 2022-12-31 11092489 core:Non-currentFinancialInstruments 2023-12-31 11092489 core:Non-currentFinancialInstruments 2022-12-31 11092489 core:ShareCapital 2023-12-31 11092489 core:ShareCapital 2022-12-31 11092489 core:RetainedEarningsAccumulatedLosses 2023-12-31 11092489 core:RetainedEarningsAccumulatedLosses 2022-12-31 11092489 core:PlantMachinery 2022-12-31 11092489 core:ComputerEquipment 2022-12-31 11092489 core:PlantMachinery 2023-12-31 11092489 core:ComputerEquipment 2023-12-31 11092489 bus:OrdinaryShareClass1 2023-12-31 11092489 core:WithinOneYear 2023-12-31 11092489 core:WithinOneYear 2022-12-31 11092489 core:BetweenOneFiveYears 2023-12-31 11092489 core:BetweenOneFiveYears 2022-12-31 11092489 2023-01-01 2023-12-31 11092489 bus:FilletedAccounts 2023-01-01 2023-12-31 11092489 bus:SmallEntities 2023-01-01 2023-12-31 11092489 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11092489 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11092489 bus:Director1 2023-01-01 2023-12-31 11092489 core:PlantMachinery 2023-01-01 2023-12-31 11092489 core:ComputerEquipment 2023-01-01 2023-12-31 11092489 2022-01-01 2022-12-31 11092489 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 11092489 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11092489 bus:OrdinaryShareClass1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11092489 (England and Wales)

EXMOOR DISTILLERY LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

EXMOOR DISTILLERY LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

EXMOOR DISTILLERY LTD

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
EXMOOR DISTILLERY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 45,435 57,832
45,435 57,832
Current assets
Stocks 50,000 26,950
Debtors 4 24,718 9,914
Cash at bank and in hand 8,474 9,039
83,192 45,903
Creditors: amounts falling due within one year 5 ( 20,861) ( 276,293)
Net current assets/(liabilities) 62,331 (230,390)
Total assets less current liabilities 107,766 (172,558)
Creditors: amounts falling due after more than one year 6 ( 280,134) 0
Net liabilities ( 172,368) ( 172,558)
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account ( 172,370 ) ( 172,560 )
Total shareholders' deficit ( 172,368) ( 172,558)

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Exmoor Distillery Ltd (registered number: 11092489) were approved and authorised for issue by the Director on 11 September 2024. They were signed on its behalf by:

J P Smith
Director
EXMOOR DISTILLERY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
EXMOOR DISTILLERY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
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

Exmoor Distillery Ltd (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 Unit 5 Barle Enterprise Centre, Dulverton, TA22 9BF, United Kingdom.

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

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £172,368. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Computer equipment 33.33 % 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

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 4

3. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 January 2023 130,583 7,208 137,791
Additions 1,386 1,376 2,762
At 31 December 2023 131,969 8,584 140,553
Accumulated depreciation
At 01 January 2023 74,554 5,405 79,959
Charge for the financial year 14,354 805 15,159
At 31 December 2023 88,908 6,210 95,118
Net book value
At 31 December 2023 43,061 2,374 45,435
At 31 December 2022 56,029 1,803 57,832

4. Debtors

2023 2022
£ £
Trade debtors 8,809 7,070
Prepayments 15,000 2,127
Other debtors 909 717
24,718 9,914

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 8,335 2,393
Amounts owed to director 0 267,248
Accruals 2,825 0
Other taxation and social security 9,169 6,508
Other creditors 532 144
20,861 276,293

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other creditors 280,134 0

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Commitments

Capital commitments are as follows:

2023 2022
£ £
Contracted for but not provided for:
Other 11,550 0

Total future minimum lease payments under non-cancellable operating leases are as follows:

2023 2022
£ £
within one year 4,200 0
between one and five years 7,350 0
11,550 0

Pensions

The Company operates a defined contribution pension scheme for the director and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

2023 2022
£ £
Unpaid contributions due to the fund (inc. in other creditors) 388 0