Silverfin false false 31/01/2025 01/07/2024 31/01/2025 Dr R M Dixon 17/05/2019 12 March 2025 The principal activity of the Company continued to be that distilling and selling rum. SC630861 2025-01-31 SC630861 bus:Director1 2025-01-31 SC630861 core:CurrentFinancialInstruments 2025-01-31 SC630861 core:CurrentFinancialInstruments 2024-06-30 SC630861 2024-06-30 SC630861 core:ShareCapital 2025-01-31 SC630861 core:ShareCapital 2024-06-30 SC630861 core:RetainedEarningsAccumulatedLosses 2025-01-31 SC630861 core:RetainedEarningsAccumulatedLosses 2024-06-30 SC630861 bus:OrdinaryShareClass1 2025-01-31 SC630861 bus:OrdinaryShareClass2 2025-01-31 SC630861 bus:OrdinaryShareClass3 2025-01-31 SC630861 bus:OrdinaryShareClass4 2025-01-31 SC630861 2024-07-01 2025-01-31 SC630861 bus:FilletedAccounts 2024-07-01 2025-01-31 SC630861 bus:SmallEntities 2024-07-01 2025-01-31 SC630861 bus:AuditExemptWithAccountantsReport 2024-07-01 2025-01-31 SC630861 bus:PrivateLimitedCompanyLtd 2024-07-01 2025-01-31 SC630861 bus:Director1 2024-07-01 2025-01-31 SC630861 2023-07-01 2024-06-30 SC630861 bus:OrdinaryShareClass1 2024-07-01 2025-01-31 SC630861 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 SC630861 bus:OrdinaryShareClass2 2024-07-01 2025-01-31 SC630861 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 SC630861 bus:OrdinaryShareClass3 2024-07-01 2025-01-31 SC630861 bus:OrdinaryShareClass3 2023-07-01 2024-06-30 SC630861 bus:OrdinaryShareClass4 2024-07-01 2025-01-31 SC630861 bus:OrdinaryShareClass4 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC630861 (Scotland)

HARPALION SPIRITS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 JANUARY 2025
PAGES FOR FILING WITH THE REGISTRAR

HARPALION SPIRITS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 JANUARY 2025

Contents

HARPALION SPIRITS LIMITED

BALANCE SHEET

AS AT 31 JANUARY 2025
HARPALION SPIRITS LIMITED

BALANCE SHEET (continued)

AS AT 31 JANUARY 2025
Note 31.01.2025 30.06.2024
£ £
Current assets
Debtors 3 178 1,212
Cash at bank and in hand 424 11,027
602 12,239
Creditors: amounts falling due within one year 4 0 ( 816,902)
Net current assets/(liabilities) 602 (804,663)
Total assets less current liabilities 602 (804,663)
Net assets/(liabilities) 602 ( 804,663)
Capital and reserves
Called-up share capital 5 1 1
Profit and loss account 601 ( 804,664 )
Total shareholder's funds/(deficit) 602 ( 804,663)

For the financial period ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Harpalion Spirits Limited (registered number: SC630861) were approved and authorised for issue by the Director on 12 March 2025. They were signed on its behalf by:

Dr R M Dixon
Director
HARPALION SPIRITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 JANUARY 2025
HARPALION SPIRITS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 01 JULY 2024 TO 31 JANUARY 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Harpalion Spirits Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 16 Charlotte Square, Edinburgh, EH2 4DF, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

During the period the directors, having explored all available options to maintain and continue the trade of the Company, concluded that none of these options were viable and resolved that the Company would cease trading on 31 January 2025. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.

Reporting period length

The reporting period covers a period of 7 months. The directors note that the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.
If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

Period from
01.07.2024 to
31.01.2025
Year ended
30.06.2024
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Debtors

31.01.2025 30.06.2024
£ £
Other debtors 178 1,212

4. Creditors: amounts falling due within one year

31.01.2025 30.06.2024
£ £
Trade creditors 0 5,270
Amounts owed to Group undertakings 0 810,632
Other creditors 0 1,000
0 816,902

5. Called-up share capital

31.01.2025 30.06.2024
£ £
Allotted, called-up and fully-paid
1,028 Ordinary shares of £ 0.00125 each 1.28 1.28
38 G1 ordinary shares of £ 0.00125 each 0.05 0.05
38 G2 ordinary shares of £ 0.00125 each 0.05 0.05
38 G3 ordinary shares of £ 0.00125 each 0.05 0.05
1.43 1.43