Silverfin false false 31/01/2024 01/02/2023 31/01/2024 S Johnstone 28/01/2021 Y Xia 06/12/2022 29 October 2024 The principal activity of the Company during the financial year was that of the wholesale, bottling and distribution of Scotch whisky casks, bottles and other spirits. SC687394 2024-01-31 SC687394 bus:Director1 2024-01-31 SC687394 bus:Director2 2024-01-31 SC687394 2023-01-31 SC687394 core:CurrentFinancialInstruments 2024-01-31 SC687394 core:CurrentFinancialInstruments 2023-01-31 SC687394 core:Non-currentFinancialInstruments 2024-01-31 SC687394 core:Non-currentFinancialInstruments 2023-01-31 SC687394 core:ShareCapital 2024-01-31 SC687394 core:ShareCapital 2023-01-31 SC687394 core:SharePremium 2024-01-31 SC687394 core:SharePremium 2023-01-31 SC687394 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC687394 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC687394 core:OtherPropertyPlantEquipment 2023-01-31 SC687394 core:OtherPropertyPlantEquipment 2024-01-31 SC687394 core:RemainingRelatedParties core:CurrentFinancialInstruments 2024-01-31 SC687394 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-31 SC687394 bus:OrdinaryShareClass1 2024-01-31 SC687394 2023-02-01 2024-01-31 SC687394 bus:FilletedAccounts 2023-02-01 2024-01-31 SC687394 bus:SmallEntities 2023-02-01 2024-01-31 SC687394 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 SC687394 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 SC687394 bus:Director1 2023-02-01 2024-01-31 SC687394 bus:Director2 2023-02-01 2024-01-31 SC687394 2022-02-01 2023-01-31 SC687394 core:OtherPropertyPlantEquipment 2023-02-01 2024-01-31 SC687394 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 SC687394 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 SC687394 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC687394 (Scotland)

CASKS OF ALBA LIMITED

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

CASKS OF ALBA LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024

Contents

CASKS OF ALBA LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2024
CASKS OF ALBA LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 675 0
675 0
Current assets
Stocks 447,018 255,486
Debtors 4 17,542 7,109
Cash at bank and in hand 31,449 230,445
496,009 493,040
Creditors: amounts falling due within one year 5 ( 39,279) ( 46,340)
Net current assets 456,730 446,700
Total assets less current liabilities 457,405 446,700
Creditors: amounts falling due after more than one year 6 ( 10,000) 0
Net assets 447,405 446,700
Capital and reserves
Called-up share capital 7 1,000 1,000
Share premium account 446,250 446,250
Profit and loss account 155 ( 550 )
Total shareholders' funds 447,405 446,700

For the financial year ending 31 January 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 Casks of Alba Limited (registered number: SC687394) were approved and authorised for issue by the Board of Directors on 29 October 2024. They were signed on its behalf by:

S Johnstone
Director
CASKS OF ALBA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 2024
CASKS OF ALBA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JANUARY 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

Casks of Alba 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 227 West George Street, Glasgow, G2 2ND, 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 from the wholesale, bottling and distribution of Scotch whisky casks, bottles and other spirits is recognised at the fair value of the consideration received or receivable for goods 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, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

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. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 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.

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 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.

Basic financial liabilities
Basic financial liabilities, including creditors, 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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2023 0 0
Additions 675 675
At 31 January 2024 675 675
Accumulated depreciation
At 01 February 2023 0 0
At 31 January 2024 0 0
Net book value
At 31 January 2024 675 675
At 31 January 2023 0 0

4. Debtors

2024 2023
£ £
Trade debtors 15,366 6,679
Other debtors 2,176 430
17,542 7,109

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 25,516 44,840
Amounts owed to related parties 11,120 0
Taxation and social security 36 0
Other creditors 2,607 1,500
39,279 46,340

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

2024 2023
£ £
Other creditors 10,000 0

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

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 1.00 each 1,000 1,000

8. Related party transactions

Other related party transactions

2024 2023
£ £
Amounts owed to Related Parties 11,120 0

Amounts owed to related parties are unsecured, interest free, and repayable on demand.