Company registration number 11223898 (England and Wales)
NEWCASTLE DISTILLERY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
NEWCASTLE DISTILLERY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
NEWCASTLE DISTILLERY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
31 December 2023
25 December 2022
Notes
£
£
£
£
Fixed assets
Investments
3
100
100
Creditors: amounts falling due after more than one year
4
(5,622)
(5,622)
Net liabilities
(5,522)
(5,522)
Capital and reserves
Called up share capital
5
1
1
Share premium account
99
99
Profit and loss reserves
(5,622)
(5,622)
Total equity
(5,522)
(5,522)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
O Vaulkhard
Director
Company Registration No. 11223898
NEWCASTLE DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Newcastle Distillery Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bealim House, 17 - 25 Gallowgate, Newcastle upon Tyne, NE1 4SG.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of Vaulkhard Group Limited, the ultimate parent company. These consolidated financial statements are available from its registered office, Bealim House, 17-25 Gallowgate, Newcastle upon Tyne, NE1 4SG.

1.2
Reporting period

The prior reporting period was extended to 15 months ended 25 December 2022 for commercial reasons. Therefore the financial statements (including the related notes) are not entirely comparable to the current year ended 31 December 2023.

1.3
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

NEWCASTLE DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

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

NEWCASTLE DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
100
4
Creditors: amounts falling due after more than one year
2023
2022
£
£
Amounts owed to group undertakings
5,622
5,622
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
6
Related party transactions

The company is a wholly owned subsidiary and has taken advantage of the exemption permitted by Section 33 Related Party Disclosures not to provide disclosures of transactions entered into with other wholly owned members of the group.

7
Parent company

The company's ultimate parent undertaking is Vaulkhard Group Limited, a company incorporated in England & Wales and its registered office is Bealim House, 17-25 Gallowgate, Newcastle upon Tyne, NE1 4SG.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Paul Gainford
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
26 September 2024
2023-12-312022-12-26false26 September 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedH VaulkhardO Vaulkhardfalsefalse112238982022-12-262023-12-31112238982023-12-31112238982022-12-2511223898core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3111223898core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-2511223898core:ShareCapital2023-12-3111223898core:ShareCapital2022-12-2511223898core:SharePremium2023-12-3111223898core:SharePremium2022-12-2511223898core:RetainedEarningsAccumulatedLosses2023-12-3111223898core:RetainedEarningsAccumulatedLosses2022-12-2511223898bus:Director22022-12-262023-12-31112238982021-10-012022-12-2511223898core:Non-currentFinancialInstruments2023-12-3111223898core:Non-currentFinancialInstruments2022-12-2511223898bus:PrivateLimitedCompanyLtd2022-12-262023-12-3111223898bus:SmallCompaniesRegimeForAccounts2022-12-262023-12-3111223898bus:FRS1022022-12-262023-12-3111223898bus:Audited2022-12-262023-12-3111223898bus:Director12022-12-262023-12-3111223898bus:FullAccounts2022-12-262023-12-31xbrli:purexbrli:sharesiso4217:GBP