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REGISTERED NUMBER: SC629065 (Scotland)












Financial Statements

for the Year Ended 30 April 2024

for

The Lighthouse Spirits Company Limited

The Lighthouse Spirits Company Limited (Registered number: SC629065)






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 Lighthouse Spirits Company Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A J G Stevenson
Mrs L M Stevenson
G Stevenson
A Stevenson
Ms L J Stevenson





REGISTERED OFFICE: C/O O'Haras Chartered Accountants
1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC629065 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

The Lighthouse Spirits Company Limited (Registered number: SC629065)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 64,233 70,258
Investments 5 85 100
64,318 70,358

CURRENT ASSETS
Inventories 1,058,106 458,838
Debtors 6 1,069,011 674,132
Cash at bank 2,640 311,636
2,129,757 1,444,606
CREDITORS
Amounts falling due within one year 7 732,721 549,442
NET CURRENT ASSETS 1,397,036 895,164
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,461,354

965,522

CREDITORS
Amounts falling due after more than one year 8 (531,089 ) (280,000 )

PROVISIONS FOR LIABILITIES 9 (16,058 ) (17,564 )
NET ASSETS 914,207 667,958

CAPITAL AND RESERVES
Called up share capital 10 160 160
Retained earnings 914,047 667,798
SHAREHOLDERS' FUNDS 914,207 667,958

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 Lighthouse Spirits Company Limited (Registered number: SC629065)

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 27 September 2024 and were signed on its behalf by:





A J G Stevenson - Director


The Lighthouse Spirits Company Limited (Registered number: SC629065)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

The Lighthouse Spirits Company Limited is a private company, limited by shares , registered in Scotland. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Revenue represents amounts chargeable to clients for the sale of goods provided during the year, net of any sales tax. Goods provided during the year, which includes the sale of alcohol spirits, which at the balance sheet date have not been billed, have been recognised as revenue.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on cost
Computer equipment - 33% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Inventories
Inventories 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.


The Lighthouse Spirits Company Limited (Registered number: SC629065)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 1,215 77,120 3,898 82,233
Additions - 3,319 - 3,319
At 30 April 2024 1,215 80,439 3,898 85,552
DEPRECIATION
At 1 May 2023 152 11,544 279 11,975
Charge for year 159 7,886 1,299 9,344
At 30 April 2024 311 19,430 1,578 21,319
NET BOOK VALUE
At 30 April 2024 904 61,009 2,320 64,233
At 30 April 2023 1,063 65,576 3,619 70,258

The Lighthouse Spirits Company Limited (Registered number: SC629065)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023 100
Disposals (15 )
At 30 April 2024 85
NET BOOK VALUE
At 30 April 2024 85
At 30 April 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 797,298 425,594
Amounts owed by group undertakings 264,586 246,441
Other debtors 7,127 2,097
1,069,011 674,132

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 619,793 328,742
Amounts owed to group undertakings - 100
Taxation and social security 91,250 124,004
Other creditors 21,678 96,596
732,721 549,442

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 531,089 280,000

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 16,058 17,564

The Lighthouse Spirits Company Limited (Registered number: SC629065)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 17,564
Provided during year (1,506 )
Balance at 30 April 2024 16,058

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
80 Ordinary A £1 80 80
20 Ordinary B £1 20 20
20 Ordinary C £1 20 20
20 Ordinary D £1 20 20
20 Ordinary E £1 20 20
160 160