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REGISTERED NUMBER: 10115611 (England and Wales)















FINANCIAL STATEMENTS

FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024

FOR

SELECT WHISKY LIMITED

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Accountants' Report 9

SELECT WHISKY LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024







DIRECTORS: R Greenberg
S L Kelaty





REGISTERED OFFICE: 806-808 Finchley Road
London
NW11 6XL





REGISTERED NUMBER: 10115611 (England and Wales)





ACCOUNTANTS: MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

31.1.24 30.4.23
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 101,576 45,743
101,576 45,743

CURRENT ASSETS
Stocks 450,090 466,950
Debtors 6 73,138 82,321
Cash at bank and in hand 157,796 280,755
681,024 830,026
CREDITORS
Amounts falling due within one year 7 (90,500 ) (37,579 )
NET CURRENT ASSETS 590,524 792,447
TOTAL ASSETS LESS CURRENT LIABILITIES 692,100 838,190

CREDITORS
Amounts falling due after more than one
year

8

(753,549

)

(901,543

)
NET LIABILITIES (61,449 ) (63,353 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (61,549 ) (63,453 )
SHAREHOLDERS' FUNDS (61,449 ) (63,353 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 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.

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 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 28 October 2024 and were signed on its behalf by:





A Weiler - Director


SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


1. STATUTORY INFORMATION

Select Whisky 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

The amounts recoverable on the contracts represents the fair value of the services which had not been invoiced prior to the balance sheet. Hence, this revenue is accrued in the balance sheet under debtors.

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.

Computer software is being amortised evenly over its estimated useful life of three 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 period 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 statement of financial position date.


SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 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 statement of financial position 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 period 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.

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.

Cash and cash equivalent
Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortised cost using the effective interest method, less any impairment.

Impairment of financial assets
Financial assets, other than those held at fair value 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity

Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured 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 the market rate of interest .

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 May 2023
and 31 January 2024 6,600
AMORTISATION
At 1 May 2023
and 31 January 2024 6,600
NET BOOK VALUE
At 31 January 2024 -
At 30 April 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023 35,651 43,905 12,481 92,037
Additions 8,154 62,901 1,900 72,955
At 31 January 2024 43,805 106,806 14,381 164,992
DEPRECIATION
At 1 May 2023 22,883 17,251 6,160 46,294
Charge for period 3,052 12,595 1,475 17,122
At 31 January 2024 25,935 29,846 7,635 63,416
NET BOOK VALUE
At 31 January 2024 17,870 76,960 6,746 101,576
At 30 April 2023 12,768 26,654 6,321 45,743

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 30.4.23
£    £   
Trade debtors 57,488 25,321
Other debtors 15,650 57,000
73,138 82,321

SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 30.4.23
£    £   
Bank loans and overdrafts (see note 9) 10,000 10,000
Trade creditors 46,464 22,344
Taxation and social security 29,411 610
Other creditors 4,625 4,625
90,500 37,579

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.24 30.4.23
£    £   
Bank loans (see note 9) 13,333 20,833
Other creditors 740,216 880,710
753,549 901,543

9. LOANS

An analysis of the maturity of loans is given below:

31.1.24 30.4.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,333 10,833

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.24 30.4.23
value: £    £   
100 ORDINARY 1 100 100

11. RELATED PARTY DISCLOSURES

Other creditors for more than one year include amounts of £740,216 (2023: £887,753) owing to companies closely associated with R Greenberg or her family members.

S L Kelaty
The company director


SELECT WHISKY LIMITED (REGISTERED NUMBER: 10115611)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 MAY 2023 TO 31 JANUARY 2024


During the period the following transactions occurred between the company and the director.

2023 2022
£ £

Advances by the director to the company 7,295 76,660
Repayments by the company to the director 10,275 74,660
Dividends paid to the director
Amounts due from director at end of the period 7,020 10,000


Really Good Whisky

A company under common control


31.1.24 30.4.23
£    £   
Amount due from related party at the balance sheet date 180 180

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the board of directors.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
SELECT WHISKY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Select Whisky Limited for the period ended 31 January 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Select Whisky Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Select Whisky Limited and state those matters that we have agreed to state to the Board of Directors of Select Whisky Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Select Whisky Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Select Whisky Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Select Whisky Limited. You consider that Select Whisky Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Select Whisky Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






MGR Paris Limited
Chartered Accountants
Russell House
140 High Street
Edgware
HA8 7LW


28 October 2024