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Registered number: 11398014
Shropshire Hills Distillery Limited
Unaudited Financial Statements
For the Period 1 July 2022 to 30 September 2023
Wyche Accountancy Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11398014
30 September 2023 30 June 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 88,147 60,411
88,147 60,411
CURRENT ASSETS
Stocks 5 85,417 129,767
Debtors 6 126,142 288,797
Cash at bank and in hand 16,345 18,614
227,904 437,178
Creditors: Amounts Falling Due Within One Year 7 (221,266 ) (241,975 )
NET CURRENT ASSETS (LIABILITIES) 6,638 195,203
TOTAL ASSETS LESS CURRENT LIABILITIES 94,785 255,614
Creditors: Amounts Falling Due After More Than One Year 8 (236,133 ) (200,314 )
NET (LIABILITIES)/ASSETS (141,348 ) 55,300
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (141,349 ) 55,299
SHAREHOLDERS' FUNDS (141,348) 55,300
Page 1
Page 2
For the period ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
S L Ward
Director
26 September 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
Shropshire Hills Distillery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11398014 . The registered office is Unit 1 & 2, Bromfield Road, Bromfield, Shropshire, SY8 2JR.
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 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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 11 (2022: 10)
11 10
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2022 30,512 41,470 7,072 5,078 84,132
Additions - 23,646 30,450 845 54,941
Disposals - (17,139 ) - - (17,139 )
As at 30 September 2023 30,512 47,977 37,522 5,923 121,934
Depreciation
As at 1 July 2022 6,379 12,902 2,246 2,194 23,721
Provided during the period 7,542 9,335 3,545 1,165 21,587
Disposals - (11,521 ) - - (11,521 )
As at 30 September 2023 13,921 10,716 5,791 3,359 33,787
Net Book Value
As at 30 September 2023 16,591 37,261 31,731 2,564 88,147
As at 1 July 2022 24,133 28,568 4,826 2,884 60,411
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
30 September 2023 30 June 2022
£ £
Motor Vehicles 37,261 28,568
5. Stocks
30 September 2023 30 June 2022
£ £
Stock 85,417 129,767
6. Debtors
30 September 2023 30 June 2022
£ £
Due within one year
Trade debtors 58,982 234,858
Prepayments and accrued income 14,944 12,802
Other taxes and social security 381 -
Amounts owed by group undertakings 51,835 41,137
126,142 288,797
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7. Creditors: Amounts Falling Due Within One Year
30 September 2023 30 June 2022
£ £
Net obligations under finance lease and hire purchase contracts 4,720 6,594
Trade creditors 73,454 79,156
Bank loans and overdrafts 46,327 23,985
Other taxes and social security - 2,992
VAT 35,229 96,964
Other creditors 7,737 9,734
Accruals and deferred income 1,200 600
Director's loan account 52,599 21,950
221,266 241,975
An amount of £22,995 (2022: £8,085) included in Bank loans and overdrafts relates to an invoice factoring facility which is secured on the assets of the company.
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2023 30 June 2022
£ £
Net obligations under finance lease and hire purchase contracts 25,834 21,770
Other loans 107,500 47,500
Non-current bank loans 102,799 131,044
236,133 200,314
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
9. Obligations Under Finance Leases and Hire Purchase
30 September 2023 30 June 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 4,720 6,594
Later than one year and not later than five years 25,834 21,770
30,554 28,364
30,554 28,364
10. Share Capital
30 September 2023 30 June 2022
£ £
Allotted, Called up and fully paid 1 1
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