2023-09-012024-08-312024-08-31false12819461MOUNTS BAY DISTILLERY 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MOUNTS BAY DISTILLERY LIMITED

Registered Number
12819461
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

MOUNTS BAY DISTILLERY LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

ANGLESJO, Lisa Johnna
ROBERTS, Benjamin John

Registered Address

La Connings
Germoe
Penzance
TR20 9RA

Registered Number

12819461 (England and Wales)
MOUNTS BAY DISTILLERY LIMITED
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets320,32822,933
20,32822,933
Current assets
Stocks5,2535,253
Debtors23,93915,380
Cash at bank and on hand7,4964,274
36,68824,907
Creditors amounts falling due within one year(9,358)(12,318)
Net current assets (liabilities)27,33012,589
Total assets less current liabilities47,65835,522
Creditors amounts falling due after one year(74,934)(80,411)
Accruals and deferred income(976)(1,036)
Net assets(28,252)(45,925)
Capital and reserves
Called up share capital22
Profit and loss account(28,254)(45,927)
Shareholders' funds(28,252)(45,925)
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2024, and are signed on its behalf by:
ROBERTS, Benjamin John
Director
Registered Company No. 12819461
MOUNTS BAY DISTILLERY LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Plant and machinery5
Fixtures and fittings5
Vehicles5
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 September 2330,271
Additions15,557
Disposals(14,995)
At 31 August 2430,833
Depreciation and impairment
At 01 September 237,337
Charge for year6,167
On disposals(2,999)
At 31 August 2410,505
Net book value
At 31 August 2420,328
At 31 August 2322,933