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TAY SPIRITS LTD.

Registered Number
SC550044
(Scotland)

Unaudited Financial Statements for the Year ended
10 May 2024

TAY SPIRITS LTD.
Company Information
for the year from 11 May 2023 to 10 May 2024

Director

Kecia McDougall

Registered Address

Tayport Distillery Unit 2, Shanwell Court Industrial Estate
Shanwell Road
Tayport
DD6 9DX

Registered Number

SC550044 (Scotland)
TAY SPIRITS LTD.
Balance Sheet as at
10 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets33,8694,781
Tangible assets412,85014,907
16,71919,688
Current assets
Stocks21,71217,987
Debtors58,52011,045
Cash at bank and on hand11,2973,078
41,52932,110
Creditors amounts falling due within one year6(9,596)(5,697)
Net current assets (liabilities)31,93326,413
Total assets less current liabilities48,65246,101
Creditors amounts falling due after one year7(217,370)(207,110)
Provisions for liabilities(2,441)(2,832)
Net assets(171,159)(163,841)
Capital and reserves
Called up share capital11
Profit and loss account(171,160)(163,842)
Shareholders' funds(171,159)(163,841)
The financial statements were approved and authorised for issue by the Director on 6 February 2025, and are signed on its behalf by:
Kecia McDougall
Director
Registered Company No. SC550044
TAY SPIRITS LTD.
Notes to the Financial Statements
for the year ended 10 May 2024

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
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The financial statements have been prepared on the going concern basis. The director finds it appropriate for the financial statements to be prepared on this basis despite the net liability position of the company. The company is reliant upon the continued support of the director who has confirmed she will not withdraw her directors loan account to the detriment of other creditors.
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.
Employee benefits
The company operates a defined contribution pension scheme. Contributions payable to the companys pension scheme are charged to profit or loss in the period to which they relate.
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Development costs are being amortised evenly over their estimated useful life of 10 years.
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: Plant and Machinery: 10 and 5 years Straight line Fixtures and Fittings: 5 years Straight line Vehicles: 4 years Straight line Office Equipment: 3 years Straight line
Stocks and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2.Average number of employees

20242023
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 11 May 2311,91411,914
Additions250250
At 10 May 2412,16412,164
Amortisation and impairment
At 11 May 237,1337,133
Charge for year1,1621,162
At 10 May 248,2958,295
Net book value
At 10 May 243,8693,869
At 10 May 234,7814,781
4.Tangible fixed assets

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 11 May 2370,52024,7886222,41598,345
Additions--1,2418082,049
At 10 May 2470,52024,7881,8633,223100,394
Depreciation and impairment
At 11 May 2355,84224,7254562,41583,438
Charge for year3,8914981854,106
At 10 May 2459,73324,7745372,50087,544
Net book value
At 10 May 2410,787141,32672312,850
At 10 May 2314,67863166-14,907
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,4399,860
Other debtors259260
Prepayments and accrued income1,822925
Total8,52011,045
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables3,812525
Bank borrowings and overdrafts2,8652,865
Taxation and social security1,216622
Other creditors9595
Accrued liabilities and deferred income1,6081,590
Total9,5965,697
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts3,1035,968
Other creditors214,267201,142
Total217,370207,110