SPIRIT OF HARROGATE LIMITED

Company Registration Number:
09193835 (England and Wales)

Unaudited statutory accounts for the year ended 28 February 2023

Period of accounts

Start date: 1 March 2022

End date: 28 February 2023

SPIRIT OF HARROGATE LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes

SPIRIT OF HARROGATE LIMITED

Directors' report period ended 28 February 2023

The directors present their report with the financial statements of the company for the period ended 28 February 2023

Principal activities of the company

The principal activity of the Company in the period under review was the development and retail of a small range of premium alcoholic drinks for the UK on and off-trade markets.

Political and charitable donations

None

Additional information

Director’s indemnities The Company has made qualifying third-party indemnity provisions for the benefit of its Directors which were made during the year and remain in force at the date of this report. Future developments and events after the balance sheet date The Directors expect the general level of activity to continue in the forthcoming year. This is as a result of new product launch plans, expansion in the customer base and distribution therin, investment in developing further international opportunities and the continued focus on developing the Company’s existing brand nationally and internationally. There are no details to report of any other events that have occurred after the balance sheet date. Research and development During the year the Company continued to develop a premium range of spirit products. Political contributions No political donations were made during the year (2022: £Nil). Existence of branches outside the UK The Company has no branches, as defined in section 1046(3) of the Companies Act 2006, outside the UK.



Directors

The directors shown below have held office during the whole of the period from
1 March 2022 to 28 February 2023

Marcus Black
Michael Carthy


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
31 October 2023

And signed on behalf of the board by:
Name: Marcus Black
Status: Director

SPIRIT OF HARROGATE LIMITED

Profit And Loss Account

for the Period Ended 28 February 2023

2023 2022


£

£
Turnover: 2,563,871 2,946,050
Cost of sales: ( 1,930,187 ) ( 2,000,216 )
Gross profit(or loss): 633,684 945,834
Administrative expenses: ( 2,151,456 ) ( 1,819,200 )
Other operating income: 43,252
Operating profit(or loss): (1,517,772) (830,114)
Interest payable and similar charges: ( 3,941 ) ( 4,404 )
Profit(or loss) before tax: (1,521,713) (834,518)
Tax: 78,525 33,173
Profit(or loss) for the financial year: (1,443,188) (801,345)

SPIRIT OF HARROGATE LIMITED

Balance sheet

As at 28 February 2023

Notes 2023 2022


£

£
Fixed assets
Intangible assets: 3 9,751 9,751
Tangible assets: 4 346,635 449,504
Total fixed assets: 356,386 459,255
Current assets
Stocks: 5 31,254 17,616
Debtors: 6 345,248 389,690
Cash at bank and in hand: 12,211 8,902
Total current assets: 388,713 416,208
Creditors: amounts falling due within one year: 7 ( 4,398,241 ) ( 3,061,235 )
Net current assets (liabilities): (4,009,528) (2,645,027)
Total assets less current liabilities: (3,653,142) ( 2,185,772)
Creditors: amounts falling due after more than one year: 8 ( 10,075 ) ( 34,257 )
Total net assets (liabilities): (3,663,217) (2,220,029)
Capital and reserves
Called up share capital: 133 133
Profit and loss account: (3,663,350 ) (2,220,162 )
Total Shareholders' funds: ( 3,663,217 ) (2,220,029)

The notes form part of these financial statements

SPIRIT OF HARROGATE LIMITED

Balance sheet statements

For the year ending 28 February 2023 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.

This report was approved by the board of directors on 31 October 2023
and signed on behalf of the board by:

Name: Marcus Black
Status: Director

The notes form part of these financial statements

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover represents invoiced sales of goods, excluding value added tax, in the normal course of business, net of trade discounts. Revenue is recognised on despatch of goods.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation and provision for impairment. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Short leasehold improvement period of the lease Plant and machinery 10 percent to 20 percent on cost Fixtures and fittings 15 percent to 33 percent on cost Motor Vehicles 20 percent to 25 percent on cost

    Intangible fixed assets amortisation policy

    Trademarks are capitalised and written down to their residual value over their useful economic life. As the Company is entitled to renew all Trademarks every ten years without significant cost, the Directors believe they have a useful economic life in perpetuity. Accordingly, amortisation charges each year approximate to zero. This is considered to be in line with the requirements of FRS102 Section 18. Should the Company decide not to renew the trademark at the end of each applicable ten-year term, then the value of the Trademark is written off as a disposal.

    Other accounting policies

    General information and basis of accounting Going concern Stocks Taxation Leases Pension costs and other post retirement benefits Critical accounting judgments and key sources of estimation uncertainty Government grants Critical judgments in applying the Company's accounting policies

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 12 14

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

3. Intangible assets

Goodwill Other Total
Cost £ £ £
At 1 March 2022 9,751 9,751
Additions
Disposals
Revaluations
Transfers
At 28 February 2023 9,751 9,751
Amortisation
At 1 March 2022 0 0
Charge for year
On disposals
Other adjustments
At 28 February 2023 0 0
Net book value
At 28 February 2023 9,751 9,751
At 28 February 2022 9,751 9,751

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

4. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 March 2022 696,532 21,345 179,032 23,653 920,562
Additions 4,390 4,390
Disposals ( 22,375 ) ( 22,375 )
Revaluations
Transfers
At 28 February 2023 696,532 21,345 161,047 23,653 902,577
Depreciation
At 1 March 2022 330,283 11,384 114,894 14,497 471,058
Charge for year 68,707 4,269 30,057 4,226 107,259
On disposals ( 22,375 ) ( 22,375 )
Other adjustments
At 28 February 2023 398,990 15,653 122,576 18,723 555,942
Net book value
At 28 February 2023 297,542 5,692 38,471 4,930 346,635
At 28 February 2022 366,249 9,961 64,138 9,156 449,504

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

5. Stocks

2023 2022
£ £
Stocks 31,254 17,616
Total 31,254 17,616

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

6. Debtors

2023 2022
£ £
Trade debtors 82,656 114,931
Prepayments and accrued income 44,041 139,089
Other debtors 218,551 135,670
Total 345,248 389,690

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

7. Creditors: amounts falling due within one year note

2023 2022
£ £
Bank loans and overdrafts 20,427 20,000
Amounts due under finance leases and hire purchase contracts 4,183 5,833
Trade creditors 48,761 113,558
Accruals and deferred income 438,369 248,339
Other creditors 3,886,501 2,673,505
Total 4,398,241 3,061,235

SPIRIT OF HARROGATE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2023

8. Creditors: amounts falling due after more than one year note

2023 2022
£ £
Bank loans and overdrafts 8,333 28,333
Amounts due under finance leases and hire purchase contracts 1,742 5,924
Total 10,075 34,257