2022-12-012023-11-302023-11-30falseSC549354THE WHISKY CELLAR 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THE WHISKY CELLAR LIMITED

Registered Number
SC549354
(Scotland)

Unaudited Financial Statements for the Year ended
30 November 2023

THE WHISKY CELLAR LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

K Bonnington

Registered Address

93 George Street
Edinburgh
EH2 3ES

Registered Number

SC549354 (Scotland)
THE WHISKY CELLAR LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets45811,214
5811,214
Current assets
Stocks5368,940343,696
Debtors650,90533,257
Cash at bank and on hand-9,572
419,845386,525
Creditors amounts falling due within one year7(183,344)(168,546)
Net current assets (liabilities)236,501217,979
Total assets less current liabilities237,082219,193
Creditors amounts falling due after one year8(15,000)(25,000)
Net assets222,082194,193
Capital and reserves
Called up share capital88
Share premium39,99839,998
Profit and loss account182,076154,187
Shareholders' funds222,082194,193
The financial statements were approved and authorised for issue by the Director on 12 November 2024, and are signed on its behalf by:
K Bonnington
Director
Registered Company No. SC549354
THE WHISKY CELLAR LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the provisions of Section 1A 'Small Entities' (FRS102 section 1A) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment4
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year11
3.Prior period adjustment
The company has adopted FRS102 section 1A for the first time with previous accounts being prepared under FRS 105 'The Financial Reporting Standard applicable to the Micro-entities regime.' The director has considered the necessity to restate the prior year financial results for material adjustment resulting from this change in accounting policy and has concluded that no material adjustments to the prior year figures are necessary.
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 December 222,0692,069
Disposals(732)(732)
At 30 November 231,3371,337
Depreciation and impairment
At 01 December 22855855
Charge for year513513
On disposals(612)(612)
At 30 November 23756756
Net book value
At 30 November 23581581
At 30 November 221,2141,214
5.Stocks

2023

2022

££
Other stocks368,940343,696
Total368,940343,696
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables46,91823,046
Other debtors1,7768,820
Prepayments and accrued income2,2111,391
Total50,90533,257
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables36,98251,578
Bank borrowings and overdrafts66,71544,000
Taxation and social security37,64534,051
Other creditors33,93131,781
Accrued liabilities and deferred income8,0717,136
Total183,344168,546
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,00025,000
Total15,00025,000
9.Secured creditors
Bank borrowings and overdrafts comprise a Business Bounceback loan and a loan From IWOCA finance. The Bounceback loan is guaranteed by the UK Government, bears interest at 2.5% and is repayable over a 5 year term. IWOCA Ltd have provided a maximum revolving credit facility of £27,000 at an interest rate of 5.2% per 30 days on any balance drawn down. The facility is unsecured and has no fixed duration.
10.Operating lease commitments
At 30 Nov 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £2,460 (2022 – £12,300).