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REGISTERED NUMBER: SC507595 (Scotland)












Financial Statements

for the Year Ended 30 April 2024

for

Ardnahoe Distillery Company Limited

Ardnahoe Distillery Company Limited (Registered number: SC507595)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Ardnahoe Distillery Company Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: A Laing
S Laing





REGISTERED OFFICE: 16 Park Circus
Glasgow
G3 6AX





REGISTERED NUMBER: SC507595 (Scotland)





AUDITORS: O'Haras Accountants Limited (Statutory Auditor)
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Ardnahoe Distillery Company Limited (Registered number: SC507595)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 3 15,205,162 13,789,754

CURRENT ASSETS
Inventories 4 569,632 517,755
Debtors 5 233,703 104,496
Cash at bank and in hand 138,270 49,522
941,605 671,773
CREDITORS
Amounts falling due within one year 6 684,166 514,171
NET CURRENT ASSETS 257,439 157,602
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,462,601

13,947,356

CREDITORS
Amounts falling due after more than one year 7 14,671,844 14,071,248
NET ASSETS/(LIABILITIES) 790,757 (123,892 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 790,755 (123,894 )
SHAREHOLDERS' FUNDS 790,757 (123,892 )

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 Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





A Laing - Director


Ardnahoe Distillery Company Limited (Registered number: SC507595)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. 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.

Going concern
The directors continue to be satisfied that the company has adequate resources to continue in operation for the next 12 months. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Sales comprise revenue from the sale of Scotch whisky and other spirits, excluding value added tax and trade discounts, and is measured at the fair value of the consideration received or receivable.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue from the sale of goods is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 4% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 33% on cost
Computer equipment - 33% on cost

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

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.

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.

Ardnahoe Distillery Company Limited (Registered number: SC507595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

1. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 26 ) .

Ardnahoe Distillery Company Limited (Registered number: SC507595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

3. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 May 2023 11,500,589 3,472,860 328,561
Additions 1,761,986 - -
At 30 April 2024 13,262,575 3,472,860 328,561
DEPRECIATION
At 1 May 2023 678,266 623,261 217,659
Charge for year 151,449 138,915 49,284
At 30 April 2024 829,715 762,176 266,943
NET BOOK VALUE
At 30 April 2024 12,432,860 2,710,684 61,618
At 30 April 2023 10,822,323 2,849,599 110,902

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 May 2023 22,680 71,704 15,396,394
Additions - - 1,761,986
At 30 April 2024 22,680 71,704 17,158,380
DEPRECIATION
At 1 May 2023 15,750 71,704 1,606,640
Charge for year 6,930 - 346,578
At 30 April 2024 22,680 71,704 1,953,218
NET BOOK VALUE
At 30 April 2024 - - 15,205,162
At 30 April 2023 6,930 - 13,789,754

4. INVENTORIES
2024 2023
£    £   
Stocks 569,632 517,755

Ardnahoe Distillery Company Limited (Registered number: SC507595)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,423 1,533
Other debtors 232,280 102,963
233,703 104,496

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 657,604 273,586
Other creditors 26,562 240,585
684,166 514,171

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 14,671,844 14,071,248

8. SECURED DEBTS

The company's bankers, Virgin Money, holds a floating charge over the assets and undertakings of the business together with a standard security over the land and property owned by the company.

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

The Report of the Auditors was unqualified.

John O'Hara CA (Senior Statutory Auditor)
for and on behalf of O'Haras Accountants Limited (Statutory Auditor)

10. RELATED PARTY DISCLOSURES

Ardnahoe Distillery Company Limited is a trading subsidiary of parent company Hunter Laing Holdings Limited, whose registered office is situated at 16 Park Circus, Glasgow, Scotland, G3 6AX.