Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.20truetrue2023-05-01falsepub19false 10017479 2023-05-01 2024-04-30 10017479 2022-05-01 2023-04-30 10017479 2024-04-30 10017479 2023-04-30 10017479 2022-05-01 10017479 c:Director3 2023-05-01 2024-04-30 10017479 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 10017479 d:Buildings d:ShortLeaseholdAssets 2024-04-30 10017479 d:Buildings d:ShortLeaseholdAssets 2023-04-30 10017479 d:PlantMachinery 2023-05-01 2024-04-30 10017479 d:PlantMachinery 2024-04-30 10017479 d:PlantMachinery 2023-04-30 10017479 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10017479 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 10017479 d:CurrentFinancialInstruments 2024-04-30 10017479 d:CurrentFinancialInstruments 2023-04-30 10017479 d:Non-currentFinancialInstruments 2024-04-30 10017479 d:Non-currentFinancialInstruments 2023-04-30 10017479 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10017479 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10017479 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10017479 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10017479 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 10017479 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 10017479 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 10017479 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 10017479 d:ShareCapital 2024-04-30 10017479 d:ShareCapital 2023-04-30 10017479 d:SharePremium 2024-04-30 10017479 d:SharePremium 2023-04-30 10017479 d:RetainedEarningsAccumulatedLosses 2024-04-30 10017479 d:RetainedEarningsAccumulatedLosses 2023-04-30 10017479 c:FRS102 2023-05-01 2024-04-30 10017479 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 10017479 c:FullAccounts 2023-05-01 2024-04-30 10017479 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10017479 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 10017479 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 10017479 2 2023-05-01 2024-04-30 10017479 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10017479









POCKETFUL OF STONES DISTILLERS LIMITED








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
POCKETFUL OF STONES DISTILLERS LIMITED
REGISTERED NUMBER: 10017479

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
122,716
137,657

Current assets
  

Stocks
 5 
226,731
246,721

Debtors: amounts falling due within one year
 6 
78,269
110,584

Cash at bank and in hand
 7 
23,278
14,102

  
328,278
371,407

Creditors: amounts falling due within one year
 8 
(353,877)
(357,146)

Net current (liabilities)/assets
  
 
 
(25,599)
 
 
14,261

Total assets less current liabilities
  
97,117
151,918

Creditors: amounts falling due after more than one year
 9 
(324,955)
(163,157)

Provisions for liabilities
  

Deferred tax
 12 
-
(20,348)

Net liabilities
  
(227,838)
(31,587)


Capital and reserves
  

Called up share capital 
  
1,980
1,980

Share premium account
  
59,604
59,604

Profit and loss account
  
(289,422)
(93,171)

  
(227,838)
(31,587)


Page 1

 
POCKETFUL OF STONES DISTILLERS LIMITED
REGISTERED NUMBER: 10017479
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 April 2025.





M I Cunliffe
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Pocketful of Stones Distillers Limited is a private company limited by shares, incorporated in England, United Kingdom. The address of the registered office is 13 Causeway Head, Penzance, Cornwall, TR18 2SN. The company's principal activity was that of distilling, rectifying and blending of spirits. 
Following a prolonged period of supply chain chaos that has affected the whole industry, the directors secured a significant amount of funding during this period to invest in the company's end-to-end supply chain and limit future disruption from external factors. Although this investment has resulted in a loss for the period, the directors are confident that these actions have gone a long way toward securing the company's long-term future as it continues to target growth amid challenging market conditions. The company has also launched two new spirit categories, further expanding its range. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

In arriving at their conclusion on going concern, the directors have given due consideration to whether the funding and liquidity resources available are sufficient to accommodate the principal risks and uncertainties
faced by the Company. The directors have prepared budgets based on reasonable assumptions and the directors’ best estimates of the timing of income and expenses. At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for a period of 12 months from the approval of the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
over lease term of 7 years
Plant and machinery
-
10%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the profit or loss in the same period as the related expenditure.

 
2.11

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.12

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.13

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.17

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.18

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023 - 19).

Page 6

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 May 2023
34,691
139,386
174,077


Additions
4,888
1,463
6,351



At 30 April 2024

39,579
140,849
180,428



Depreciation


At 1 May 2023
4,130
32,290
36,420


Charge for the year on owned assets
5,654
15,638
21,292



At 30 April 2024

9,784
47,928
57,712



Net book value



At 30 April 2024
29,795
92,921
122,716



At 30 April 2023
30,561
107,096
137,657


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
226,731
246,721


Page 7

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Trade debtors
66,888
99,526

Other debtors
252
-

Prepayments and accrued income
11,129
11,058

78,269
110,584



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,278
14,102



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
78,071
43,974

Trade creditors
49,569
131,749

Other taxation and social security
31,319
42,297

Other creditors
149,054
130,511

Accruals and deferred income
45,864
8,615

353,877
357,146



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
324,955
132,379

Other creditors
-
30,778

324,955
163,157


Page 8

 
POCKETFUL OF STONES DISTILLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
78,071
43,974

Amounts falling due 1-2 years

Bank loans
86,661
46,636

Amounts falling due 2-5 years

Bank loans
238,295
85,743


403,027
176,353



11.


Pension commitments

The company operated a defined contributions pension scheme. The assets of the scheme were held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £7,066 (2023 - £7,650). Contributions totalling £1,507 (2023 - £1,349)  were payable at the balance sheet date and are included in creditors.


12.


Deferred taxation




2024
2023


£

£






At beginning of year
(20,348)
(10,179)


Charged to profit or loss
20,348
(10,169)



At end of year
-
(20,348)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(20,348)

 
Page 9