Registered number
12441434
Still Life Gin Limited
Accounts
For the Year Ended
29 February 2024
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Still Life Gin Limited
Registered number: 12441434
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,383 19,203
Current assets
Stocks 17,180 10,257
Debtors 4 1,220 1,576
Cash at bank and in hand 52,462 25,228
70,862 37,061
Creditors: amounts falling due within one year 5 (10,535) (3,095)
Net current assets 60,327 33,966
Total assets less current liabilities 76,710 53,169
Creditors: amounts falling due after more than one year 6 (30,008) (39,998)
Net assets 46,702 13,171
Capital and reserves
Called up share capital 2 2
Profit and loss account 46,700 13,169
Shareholders' funds 46,702 13,171
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
G P T Lodge
Director
Approved by the board on 22 November 2024
Still Life Gin Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. Turnover from the sale of goods is recognised when the buyer makes the payment.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements 6% straight line
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 March 2023 10,939 12,170 23,109
Additions - 1,822 1,822
Disposals (218) (1,228) (1,446)
At 29 February 2024 10,721 12,764 23,485
Depreciation
At 1 March 2023 661 3,245 3,906
Charge for the year 644 2,552 3,196
At 29 February 2024 1,305 5,797 7,102
Net book value
At 29 February 2024 9,416 6,967 16,383
At 28 February 2023 10,278 8,925 19,203
4 Debtors 2024 2023
£ £
Other debtors 1,220 1,576
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,099 -
Taxation and social security costs 7,996 1,295
Other creditors 1,440 1,800
10,535 3,095
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 30,008 39,998
7 Related party transactions
Included in other creditors after one year is an amount of £30,008 (2023: £39,998) which is due to the directors.
8 Other information
Still Life Gin Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Catherine Hill
Frome
Somerset
BA11 1BY
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