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Registered number: SC564183

Islay Gin Ltd

ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2024


Islay Gin Ltd

ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2024
DIRECTORS
Prof J W Gow
Dr A H Gow
REGISTERED OFFICE
Ocean View
Nerabus
Port Charlotte
Isle of Islay
PA48 7UE
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC564183
ACCOUNTANTS
Hodgson and Company
16 Barnes Green
Livingston
West Lothian
EH54 8PP

Islay Gin Ltd

ACCOUNTS
FOR THEYEARENDED30 APRIL 2024
CONTENTS
Page
Balance Sheet3
Notes To The Accounts5

Islay Gin Ltd

BALANCE SHEET AT 30 April 2024
20242023
Notes££
FIXED ASSETS
Tangible assets36,9509,450
CURRENT ASSETS
Stock6,6635,394
Debtors543,73547,224
Cash at bank and in hand200155
50,59852,773
CREDITORS: Amounts falling due within one year644,34050,143
NET CURRENT ASSETS6,2582,630
TOTAL ASSETS LESS CURRENT LIABILITIES13,20812,080
CREDITORS: Amounts falling due after more than one year74,3919,613
PROVISIONS FOR LIABILITIES AND CHARGES1,3221,797
NET ASSETS7,495670
CAPITAL AND RESERVES
Called up share capital22
Profit and loss account7,493668
SHAREHOLDERS' FUNDS7,495670

Islay Gin Ltd

BALANCE SHEET AT 30 April 2024
For the year ending 30 April 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 31 January 2025 and signed on their behalf by
.............................
Prof J W Gow
Director
.............................
Dr A H Gow
Director

Islay Gin Ltd

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2024
1. ACCOUNTING POLICIES
1a. Basis Of Accounting FRS 1021 a
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the COVID-19 pandemic, the directors have tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and Machineryreducing balance 15%
Equipmentstraight line 33%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
1d. Government Grants
Government grants are recognised iwhen it is reasonable to expect that the grants will be received and that all related conditions will be met, usually on submission of a valid claim for payment.
Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.
Grants of a capital nature are credited to income so as to match the writing off of the asset to which they relate.

Islay Gin Ltd

2. EMPLOYEES
20242023
No.No.
Average number of employees22
3. TANGIBLE FIXED ASSETS
Plant and
MachineryEquipmentTotal
£££
Cost
At 1 May 202313,80913,50027,309
At 30 April 202413,80913,50027,309
Depreciation
At 1 May 20236,80411,05517,859
For the year1,0531,4472,500
At 30 April 20247,85712,50220,359
Net Book Amounts
At 30 April 20245,9529986,950
At 30 April 20237,0052,4459,450
4. STOCK 20242023
££
Stock comprises:
Stock6,6635,394
6,6635,394
5. DEBTORS 20242023
££
Amounts falling due within one year
Trade debtors2,6141,970
Prepayments-57
Directors current account41,12145,197
43,73547,224

Islay Gin Ltd

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20242023
££
UK corporation tax3,5901,558
VAT1,9101,189
Bank loans and overdrafts9,8109,711
Bank Loan12,32321,620
Bounce Back Loan3,2003,200
Trade creditors2,8754,527
Other creditors4,1304,336
Accruals5,0002,500
Government Grants1,5021,502
44,34050,143
7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20242023
££
Bank loans-520
Bounce Back Loan3,7336,933
Government Grants6582,160
4,3919,613
8. RELATED PARTY TRANSACTIONS
Included in Debtors is an amount of £45197 (2022: £19,517) owed to the company by the directors.