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REGISTERED NUMBER: 11929772 (England and Wales)










THE SKY WAVE DISTILLING COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE SKY WAVE DISTILLING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Ms K R Hicks
A J Parsons





SECRETARY:





REGISTERED OFFICE: Cheveley Ardley Road
Bucknell
Bicester
Oxfordshire
OX27 7LU





REGISTERED NUMBER: 11929772 (England and Wales)






THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 340 170
Tangible assets 5 77,658 76,312
77,998 76,482

CURRENT ASSETS
Stocks 80,750 40,875
Debtors 6 10,552 22,325
Cash at bank and in hand 31,815 118,047
123,117 181,247
CREDITORS
Amounts falling due within one year 7 72,577 94,094
NET CURRENT ASSETS 50,540 87,153
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,538

163,635

CREDITORS
Amounts falling due after more than one
year

8

175,450

49,952
NET (LIABILITIES)/ASSETS (46,912 ) 113,683

CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium 247,020 214,763
Retained earnings (293,934 ) (101,082 )
SHAREHOLDERS' FUNDS (46,912 ) 113,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)

BALANCE SHEET - continued
30 APRIL 2024


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 Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:




A J Parsons - Director



Ms K R Hicks - Director


THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

The Sky Wave Distilling Company Limited is a private company, limited by shares , registered in England and Wales. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Trade mark are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and Machinery - 15% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 1 ) .

THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Trade
mark
£   
COST
At 1 May 2023 170
Additions 170
At 30 April 2024 340
NET BOOK VALUE
At 30 April 2024 340
At 30 April 2023 170

5. TANGIBLE FIXED ASSETS
Plant and
Machinery
£   
COST
At 1 May 2023 116,716
Additions 22,177
At 30 April 2024 138,893
DEPRECIATION
At 1 May 2023 40,404
Charge for year 20,831
At 30 April 2024 61,235
NET BOOK VALUE
At 30 April 2024 77,658
At 30 April 2023 76,312

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 6,615 19,075
Other debtors 3,937 3,250
10,552 22,325

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,486 14,736
Trade creditors 24,712 12,604
Taxation and social security 5,055 3,304
Other creditors 36,324 63,450
72,577 94,094

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 29,628 49,952
Other creditors 145,822 -
175,450 49,952

THE SKY WAVE DISTILLING COMPANY LIMITED (REGISTERED NUMBER: 11929772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. CALLED UP SHARE CAPITAL

During 2023 the company divided the 2 £1 ordinary shares into 200,000 shares valued at £0.0001 per share. In addition to this the company allotted 31,125 £0.00001 ordinary shares, resulting in the total number of shares in issue to be 231,125 with a total value of £2.31.

During the year the company allotted 4,675 £0.00001 ordinary shares, resulting in the total number of shares in issue to be 235,800 with a total value of £2.358.

10. ULTIMATE CONTROLLING PARTY

During the period under review the company was controlled jointly by A J Parsons and Ms K R Hicks, by virtue of their 84.8% holding of the issued share capital.

11. GRANT INCOME

During 2023 the company received a grant £7,000 from Oxfordshire Local Kickstart. The grant relates to the consultancy to become investment ready. All conditions have been met and no amounts are outstanding at the year end.

During 2023 the company received a grant of £20,000 from Oxfordshire Local Kickstart. The grant relates to the design and fit of the visitor space and bar. All conditions have been met and no amounts are outstanding at the year end.

12. GOING CONCERN

The directors have reviewed the trading and financial position of the company and are confident that the company will continue to trade for the next twelve months.