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REGISTERED NUMBER: SC232984 (Scotland)















Audited Financial Statements for the Year Ended 31 March 2024

for

Edradour Distillery Company Limited

Edradour Distillery Company Limited (Registered number: SC232984)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Edradour Distillery Company Limited (Registered number: SC232984)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 12,687,817 12,569,620

CURRENT ASSETS
Stocks 10,095,725 8,512,790
Cash in hand 822 822
10,096,547 8,513,612
CREDITORS
Amounts falling due within one year 5 (577,759 ) (472,676 )
NET CURRENT ASSETS 9,518,788 8,040,936
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,206,605

20,610,556

PROVISIONS FOR LIABILITIES (1,109,980 ) (958,482 )
NET ASSETS 21,096,625 19,652,074

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 21,096,623 19,652,072
SHAREHOLDERS' FUNDS 21,096,625 19,652,074

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 director and authorised for issue on 20 November 2024 and were signed by:





Mr A W Symington - Director


Edradour Distillery Company Limited (Registered number: SC232984)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Edradour Distillery Company Limited is a private company, limited by shares, domiciled in Scotland, registration number SC232984. The registered office is Edradour Distillery, Pitlochry, Perthshire, PH16 5JP.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
The turnover shown in the profit and loss account represents the value of all goods sold during the period, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

Tangible fixed assets and depreciation
Depreciation is calculated so as to write off the cost of an asset, net of anticipated disposal proceeds, over the useful economic life of that asset as follows:

Land & Buildings-Straight line over 40 years
Plant & Machinery-Straight line over 10 to 20 years

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in first-out method and includes the normal cost of transporting stock to its present location and condition. Cost includes material and direct labour costs together with an appropriate proportion of production overheads, and excludes interest costs directly relating to the associated funding of stocks. Net realisable value is the anticipated sales proceeds less any costs of disposal.

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.


Edradour Distillery Company Limited (Registered number: SC232984)

Notes to the Financial Statements - continued
for the Year Ended 31 March 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.

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.

Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 9,268,839 7,622,291 16,891,130
Additions - 1,002,579 1,002,579
Disposals - (103,169 ) (103,169 )
At 31 March 2024 9,268,839 8,521,701 17,790,540
DEPRECIATION
At 1 April 2023 2,035,743 2,285,767 4,321,510
Charge for year 221,273 663,109 884,382
Eliminated on disposal - (103,169 ) (103,169 )
At 31 March 2024 2,257,016 2,845,707 5,102,723
NET BOOK VALUE
At 31 March 2024 7,011,823 5,675,994 12,687,817
At 31 March 2023 7,233,096 5,336,524 12,569,620

Edradour Distillery Company Limited (Registered number: SC232984)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Included in cost of land and buildings is freehold land of £ 425,554 (2023 - £ 425,554 ) which is not depreciated.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 577,759 472,676

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Greig Brown (Senior Statutory Auditor)
for and on behalf of Drummond Laurie CA

7. ULTIMATE PARENT COMPANY

The company's ultimate parent company is Signatory Vintage Scotch Whisky Company Limited, a company registered in Scotland. The financial statements of Signatory Vintage Scotch Whisky Company Limited can be obtained from Companies House and its registered office is Edradour Distillery, Pitlochry, Perthshire, PH16 5JP.