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REGISTERED NUMBER: 13591429 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

SOUTH DOWNS SPIRITS COMPANY LIMITED
TRADING AS
GOLDSTONE RUM

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOUTH DOWNS SPIRITS COMPANY LIMITED
TRADING AS GOLDSTONE RUM

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: G A Bowell
J P Bowell





REGISTERED OFFICE: Unit 43 Henfield Business Park
Shoreham Road
Henfield
BN5 9SL





REGISTERED NUMBER: 13591429 (England and Wales)





ACCOUNTANTS: Galloways Accounting Limited
15 West Street
Brighton
East Sussex
BN1 2RL

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 5,251 5,908
Tangible assets 5 25,667 57,449
30,918 63,357

CURRENT ASSETS
Stocks 11,647 1,832
Debtors 6 10,648 12,984
Cash at bank 6,392 2,008
28,687 16,824
CREDITORS
Amounts falling due within one year 7 (205,860 ) (180,088 )
NET CURRENT LIABILITIES (177,173 ) (163,264 )
TOTAL ASSETS LESS CURRENT LIABILITIES (146,255 ) (99,907 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (146,257 ) (99,909 )
(146,255 ) (99,907 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





G A Bowell - Director


SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

South Downs Spirits Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the provision of drinks, tours & schooling of spirits, and is recognised at point of sale or when service obligations are met.

Intangible assets
Intangible assets are initially measured at cost and subsequently are measured at cost less any accumulated amortisation over 10 years, and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Tangible fixed assets are initially measured at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The financial statements have been prepared on a going concern basis, not withstanding the company's net liabilities, The directors of the company continues to provide support as necessary and intends to ensure that there is adequate working capital for at least 12 months from the date of approval of these accounts. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SOUTH DOWNS SPIRITS COMPANY LIMITED (REGISTERED NUMBER: 13591429)
TRADING AS GOLDSTONE RUM

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INTANGIBLE FIXED ASSETS
Patents
and
licences Website Totals
£    £    £   
COST
At 1 September 2023
and 31 August 2024 570 6,000 6,570
AMORTISATION
At 1 September 2023 62 600 662
Amortisation for year 57 600 657
At 31 August 2024 119 1,200 1,319
NET BOOK VALUE
At 31 August 2024 451 4,800 5,251
At 31 August 2023 508 5,400 5,908

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2023 90,778 5,742 827 97,347
Additions 810 - - 810
At 31 August 2024 91,588 5,742 827 98,157
DEPRECIATION
At 1 September 2023 38,292 1,244 362 39,898
Charge for year 30,948 1,435 209 32,592
At 31 August 2024 69,240 2,679 571 72,490
NET BOOK VALUE
At 31 August 2024 22,348 3,063 256 25,667
At 31 August 2023 52,486 4,498 465 57,449

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,016 12,275
Other debtors 147 -
Prepayments 485 709
10,648 12,984

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 7,300 7,500
VAT 4,510 1,793
Other creditors 152 -
Directors' loan accounts 191,872 169,003
Accruals and deferred income 2,026 1,792
205,860 180,088