BrightAccountsProduction v1.0.0 v1.0.0 2023-06-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts Principal activity is that of the retail sale of alcohol. 8 April 2025 61 46 NI629248 2024-05-31 NI629248 2023-05-31 NI629248 2022-05-31 NI629248 2023-06-01 2024-05-31 NI629248 2022-06-01 2023-05-31 NI629248 uk-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 NI629248 uk-curr:PoundSterling 2023-06-01 2024-05-31 NI629248 uk-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 NI629248 uk-bus:FullAccounts 2023-06-01 2024-05-31 NI629248 uk-core:ShareCapital 2024-05-31 NI629248 uk-core:ShareCapital 2023-05-31 NI629248 uk-core:RetainedEarningsAccumulatedLosses 2024-05-31 NI629248 uk-core:RetainedEarningsAccumulatedLosses 2023-05-31 NI629248 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-05-31 NI629248 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-05-31 NI629248 uk-bus:FRS102 2023-06-01 2024-05-31 NI629248 uk-core:LandBuildings 2023-06-01 2024-05-31 NI629248 uk-core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 NI629248 uk-core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 NI629248 uk-core:CustomerRelationships 2023-05-31 NI629248 uk-core:CustomerRelationships 2024-05-31 NI629248 uk-core:CustomerRelationships 2023-06-01 2024-05-31 NI629248 uk-core:WithinOneYear 2024-05-31 NI629248 uk-core:WithinOneYear 2023-05-31 NI629248 uk-core:WithinOneYear 2024-05-31 NI629248 uk-core:WithinOneYear 2023-05-31 NI629248 uk-core:AfterOneYear 2024-05-31 NI629248 uk-core:AfterOneYear 2023-05-31 NI629248 uk-core:BetweenTwoFiveYears 2024-05-31 NI629248 uk-core:BetweenTwoFiveYears 2023-05-31 NI629248 uk-core:EmployeeBenefits 2023-05-31 NI629248 uk-core:EmployeeBenefits 2023-06-01 2024-05-31 NI629248 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-05-31 NI629248 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-05-31 NI629248 uk-core:OtherDeferredTax 2024-05-31 NI629248 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-05-31 NI629248 uk-core:EmployeeBenefits 2024-05-31 NI629248 2023-06-01 2024-05-31 NI629248 uk-bus:Director1 2023-06-01 2024-05-31 NI629248 uk-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI629248
 
 
KCellars Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 May 2024



KCellars Limited
Company Registration Number: NI629248
BALANCE SHEET
as at 31 May 2024

2024 2023
Notes £ £
 
Fixed Assets
Intangible assets 4 43,813 85,044
Tangible assets 5 204,398 216,344
───────── ─────────
Fixed Assets 248,211 301,388
───────── ─────────
 
Current Assets
Stocks 6 341,321 334,283
Debtors 7 174,585 137,531
Cash and cash equivalents 526 65,505
───────── ─────────
516,432 537,319
───────── ─────────
Creditors: amounts falling due within one year 8 (476,391) (527,885)
───────── ─────────
Net Current Assets 40,041 9,434
───────── ─────────
Total Assets less Current Liabilities 288,252 310,822
 
Creditors:
amounts falling due after more than one year 9 (119,513) (174,055)
 
Provisions for liabilities 10 (4,298) (4,015)
───────── ─────────
Net Assets 164,441 132,752
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Retained earnings 164,341 132,652
───────── ─────────
Equity attributable to owners of the company 164,441 132,752
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Director and authorised for issue on 8 April 2025
           
           
________________________________          
Mr. Paul Kelly          
Director          
           



KCellars Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 May 2024

   
1. General Information
 
KCellars Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI629248. The registered office of the company is 1 Magherafelt Road, Castledawson, Co Londonderry, BT45 8AG, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 31 May 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Licence
Licence are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 0 years.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Land and buildings freehold - 4% Straight line
  Fixtures, fittings and equipment - 20% Straight line
  Computer Equipment - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Stocks
Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including director, during the financial year was 61, (2023 - 46).
 
  2024 2023
  Number Number
 
Total 61 46
  ═════════ ═════════
       
4. Intangible assets
     
  Licence Total
  £ £
Cost
At 1 June 2023 665,575 665,575
  ───────── ─────────
 
At 31 May 2024 665,575 665,575
  ───────── ─────────
Amortisation
At 1 June 2023 580,531 580,531
Charge for financial year 41,231 41,231
  ───────── ─────────
At 31 May 2024 621,762 621,762
  ───────── ─────────
Net book value
At 31 May 2024 43,813 43,813
  ═════════ ═════════
At 31 May 2023 85,044 85,044
  ═════════ ═════════
           
5. Tangible assets
  Land and Fixtures, Computer Equipment Total
  buildings fittings and    
  freehold equipment    
  £ £ £ £
Cost
At 1 June 2023 230,672 105,653 2,558 338,883
Additions - 8,150 - 8,150
  ───────── ───────── ───────── ─────────
At 31 May 2024 230,672 113,803 2,558 347,033
  ───────── ───────── ───────── ─────────
Depreciation
At 1 June 2023 34,116 86,960 1,463 122,539
Charge for the financial year 9,227 10,355 514 20,096
  ───────── ───────── ───────── ─────────
At 31 May 2024 43,343 97,315 1,977 142,635
  ───────── ───────── ───────── ─────────
Net book value
At 31 May 2024 187,329 16,488 581 204,398
  ═════════ ═════════ ═════════ ═════════
At 31 May 2023 196,556 18,693 1,095 216,344
  ═════════ ═════════ ═════════ ═════════
       
6. Stocks 2024 2023
  £ £
 
Finished goods and goods for resale 341,321 334,283
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
7. Debtors 2024 2023
  £ £
 
Amounts owed by connected parties (Note 12) 174,585 137,531
  ═════════ ═════════
       
8. Creditors 2024 2023
Amounts falling due within one year £ £
 
Bank overdrafts - 14
Bank loan 52,018 52,841
Trade creditors 163,187 206,745
Taxation 101,716 82,789
Director's current account 122,882 142,863
Other creditors 7,987 10,468
Accruals:
Pension accrual 894 443
Other accruals 27,707 31,722
  ───────── ─────────
  476,391 527,885
  ═════════ ═════════
 
The bank holds the title deeds for a property at 140 Gortgole Road, Portglenone as security for the bank overdrafts and loans.
       
9. Creditors 2024 2023
Amounts falling due after more than one year £ £
 
Bank loan 119,513 174,055
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 8) 52,018 52,855
Repayable between two and five years 119,513 174,055
  ───────── ─────────
  171,531 226,910
  ═════════ ═════════
 
         
10. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 4,015 4,015 5,741
Charged to profit and loss 283 283 (1,726)
  ───────── ───────── ─────────
At financial year end 4,298 4,298 4,015
  ═════════ ═════════ ═════════
       
11. Capital commitments
 
The company had no material capital commitments at the financial year-ended 31 May 2024.
           
12. Related party transactions
  Balance Movement Balance Maximum
  2024 in year 2023 in year
  £ £ £ £
 
An Carn Distillery Ltd 174,585 37,054 137,531 137,531
  ───────── ───────── ───────── ═════════
 
Mr Paul kelly, director and shareholder of KCellars Limited is also the director and shareholder of An Carn Distillery LTD. During the year KCellars limited  paid expenses on behalf of An Carn Distillery  LTD £174,585.
   
13. Post-Balance Sheet Events
 
There have been no significant events affecting the company since the financial year-end.