Silverfin false 31/03/2024 01/04/2023 31/03/2024 W J Garnock 09/04/2018 J A P Wild 02/07/2018 09 October 2024 The principal activity of the Company during the financial year was the development and production of non-alcoholic distilled spirit. SC593850 2024-03-31 SC593850 bus:Director1 2024-03-31 SC593850 bus:Director2 2024-03-31 SC593850 2023-03-31 SC593850 core:CurrentFinancialInstruments 2024-03-31 SC593850 core:CurrentFinancialInstruments 2023-03-31 SC593850 core:Non-currentFinancialInstruments 2024-03-31 SC593850 core:Non-currentFinancialInstruments 2023-03-31 SC593850 core:ShareCapital 2024-03-31 SC593850 core:ShareCapital 2023-03-31 SC593850 core:SharePremium 2024-03-31 SC593850 core:SharePremium 2023-03-31 SC593850 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC593850 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC593850 core:OtherResidualIntangibleAssets 2023-03-31 SC593850 core:OtherResidualIntangibleAssets 2024-03-31 SC593850 core:LandBuildings 2023-03-31 SC593850 core:OtherPropertyPlantEquipment 2023-03-31 SC593850 core:LandBuildings 2024-03-31 SC593850 core:OtherPropertyPlantEquipment 2024-03-31 SC593850 bus:OrdinaryShareClass1 2024-03-31 SC593850 2023-04-01 2024-03-31 SC593850 bus:FullAccounts 2023-04-01 2024-03-31 SC593850 bus:SmallEntities 2023-04-01 2024-03-31 SC593850 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC593850 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC593850 bus:Director1 2023-04-01 2024-03-31 SC593850 bus:Director2 2023-04-01 2024-03-31 SC593850 core:OtherResidualIntangibleAssets core:BottomRangeValue 2023-04-01 2024-03-31 SC593850 core:OtherResidualIntangibleAssets core:TopRangeValue 2023-04-01 2024-03-31 SC593850 core:LandBuildings 2023-04-01 2024-03-31 SC593850 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC593850 2022-04-01 2023-03-31 SC593850 core:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 SC593850 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 SC593850 core:Non-currentFinancialInstruments 2023-04-01 2024-03-31 SC593850 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC593850 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC593850 (Scotland)

INCHARVIE GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

INCHARVIE GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

INCHARVIE GROUP LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
INCHARVIE GROUP LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 35,947 62,061
Tangible assets 4 31,805 29,524
67,752 91,585
Current assets
Stocks 154,358 93,172
Debtors 5 119,574 100,969
Cash at bank and in hand 294,860 826,401
568,792 1,020,542
Creditors: amounts falling due within one year 6 ( 62,242) ( 68,539)
Net current assets 506,550 952,003
Total assets less current liabilities 574,302 1,043,588
Creditors: amounts falling due after more than one year 7 ( 19,500) 0
Net assets 554,802 1,043,588
Capital and reserves
Called-up share capital 8 206 206
Share premium account 2,397,857 2,397,857
Profit and loss account ( 1,843,261 ) ( 1,354,475 )
Total shareholders' funds 554,802 1,043,588

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Incharvie Group Limited (registered number: SC593850) were approved and authorised for issue by the Director on 09 October 2024. They were signed on its behalf by:

W J Garnock
Director
J A P Wild
Director
INCHARVIE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
INCHARVIE GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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

Incharvie Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Lahill, Upper Largo, Leven, KY8 6JE, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due 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 sale of the non -alcoholic spirit products 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.

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 Profit and Loss Account 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 Balance Sheet.

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 Balance Sheet date.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets 3 - 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation. Depreciation is provided on all tangible fixed asset at rates calculated to write off the cost of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings 20 % reducing balance
Plant and machinery etc. 20 - 25 % reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis.

Impairment of assets

Assets, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account. No impairments were noted this year.

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. Provision is made for obsolete, slow-moving or defective items where appropriate. No such provision has been required this year.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities are classified according to the substance of the contractual arrangements entered into.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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 measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 4

3. Intangible assets

Other intangible assets Total
£ £
Cost
At 01 April 2023 118,493 118,493
At 31 March 2024 118,493 118,493
Accumulated amortisation
At 01 April 2023 56,432 56,432
Charge for the financial year 26,114 26,114
At 31 March 2024 82,546 82,546
Net book value
At 31 March 2024 35,947 35,947
At 31 March 2023 62,061 62,061

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 April 2023 6,377 30,812 37,189
Additions 0 9,501 9,501
At 31 March 2024 6,377 40,313 46,690
Accumulated depreciation
At 01 April 2023 761 6,904 7,665
Charge for the financial year 1,123 6,097 7,220
At 31 March 2024 1,884 13,001 14,885
Net book value
At 31 March 2024 4,493 27,312 31,805
At 31 March 2023 5,616 23,908 29,524

5. Debtors

2024 2023
£ £
Trade debtors 101,109 72,137
Other debtors 18,465 28,832
119,574 100,969

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 11,642 31,977
Other taxation and social security 9,911 0
Other creditors 40,689 36,562
62,242 68,539

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

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

2024 2023
£ £
Other creditors 19,500 0

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
20,563 Ordinary shares of £ 0.01 each 206 206

9. Financial commitments

Other financial commitments

2024 2023
£ £
Total commitments under non-cancellable operating leases not provided for in the accounts 19,000 38,000