The Garden Shed Drinks Company Limited SC448305 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of gin production and sales. Digita Accounts Production Advanced 6.30.9574.0 true true SC448305 2023-05-01 2024-04-30 SC448305 2024-04-30 SC448305 core:CurrentFinancialInstruments 2024-04-30 SC448305 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC448305 core:FurnitureFittingsToolsEquipment 2024-04-30 SC448305 core:MotorVehicles 2024-04-30 SC448305 core:OtherPropertyPlantEquipment 2024-04-30 SC448305 bus:SmallEntities 2023-05-01 2024-04-30 SC448305 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC448305 bus:FilletedAccounts 2023-05-01 2024-04-30 SC448305 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC448305 bus:RegisteredOffice 2023-05-01 2024-04-30 SC448305 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 SC448305 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC448305 core:ComputerEquipment 2023-05-01 2024-04-30 SC448305 core:FurnitureFittings 2023-05-01 2024-04-30 SC448305 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 SC448305 core:MotorVehicles 2023-05-01 2024-04-30 SC448305 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 SC448305 core:PlantMachinery 2023-05-01 2024-04-30 SC448305 countries:Scotland 2023-05-01 2024-04-30 SC448305 2023-04-30 SC448305 core:FurnitureFittingsToolsEquipment 2023-04-30 SC448305 core:MotorVehicles 2023-04-30 SC448305 core:OtherPropertyPlantEquipment 2023-04-30 SC448305 2022-05-01 2023-04-30 SC448305 2023-04-30 SC448305 core:CurrentFinancialInstruments 2023-04-30 SC448305 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 SC448305 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2023-04-30 SC448305 core:FurnitureFittingsToolsEquipment 2023-04-30 SC448305 core:MotorVehicles 2023-04-30 SC448305 core:OtherPropertyPlantEquipment 2023-04-30 SC448305 core:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registration number: SC448305

The Garden Shed Drinks Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

The Garden Shed Drinks Company Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

The Garden Shed Drinks Company Limited

(Registration number: SC448305)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

5,207

6,307

Current assets

 

Stocks

5

3,436

5,977

Debtors

6

5,673

7,434

Cash at bank and in hand

 

10,188

18,384

 

19,297

31,795

Creditors: Amounts falling due within one year

7

(3,331)

(13,831)

Net current assets

 

15,966

17,964

Net assets

 

21,173

24,271

Capital and reserves

 

Called up share capital

82

82

Share premium reserve

29,995

29,995

Retained earnings

(8,904)

(5,806)

Shareholders' funds

 

21,173

24,271

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 January 2025 and signed on its behalf by:
 

.........................................
Mr R Grant
Company secretary and director

 

The Garden Shed Drinks Company Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
135 Norse Road
Glasgow
G14 9EH

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis as the company relies on the continued support of the directors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

The Garden Shed Drinks Company Limited

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

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance

Motor vehicle

20% reducing balance

Computer equipment

33 1/3% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

The Garden Shed Drinks Company Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

3,236

6,000

4,135

13,371

At 30 April 2024

3,236

6,000

4,135

13,371

Depreciation

At 1 May 2023

2,541

2,928

1,595

7,064

Charge for the year

105

614

381

1,100

At 30 April 2024

2,646

3,542

1,976

8,164

Carrying amount

At 30 April 2024

590

2,458

2,159

5,207

At 30 April 2023

695

3,072

2,540

6,307

5

Stocks

2024
£

2023
£

Other inventories

3,436

5,977

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,673

7,434

 

5,673

7,434

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

608

3,666

Directors loan

76

7,770

Taxation and social security

 

1,567

1,335

Other creditors

 

1,080

1,060

 

3,331

13,831