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Registered Number: 14322873
England and Wales

 

 

 

GIRAFFE DISTILLERS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 September 2023

End date: 31 August 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Intangible fixed assets 3 2    2 
Tangible fixed assets 4 1,209,184    1,169,726 
1,209,186    1,169,728 
Current assets      
Stocks 675,220    40,103 
Debtors 602,751    624,224 
Cash at bank and in hand 94,042    160,223 
1,372,013    824,550 
Creditors: amount falling due within one year (385,478)   (457,095)
Net current assets 986,535    367,455 
 
Total assets less current liabilities 2,195,721    1,537,183 
Creditors: amount falling due after more than one year (1,956,115)   (1,356,802)
Provisions for liabilities (273,096)   (214,462)
Net assets (33,490)   (34,081)
 

Capital and reserves
     
Called up share capital 1,000    1,000 
Reserves 5 206,826    211,415 
Profit and loss account (241,316)   (246,496)
Shareholders' funds (33,490)   (34,081)
 


For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 20 May 2025 and were signed on its behalf by:


-------------------------------
Mr T D Lince
Director
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General Information
Giraffe Distillers Ltd is a private company, limited by shares, registered in England and Wales, registration number 14322873, registration address 17 Old Courts Road, Brigg, DN20 8JD.

The presentation currency is £ sterling and rounded to the nearest £. These financial statements cover the individual entity Giraffe Distillers Ltd.
1.

Accounting policies

Significant accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern basis
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment.
Change in Depreciation Rate:
After considering the economic life of plant and machinery and in line with the previous valuation, the depreciation rate has changed to consider the longer economic life of the assets.  


Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20 / 5 Years Straight Line
Land and Buildings 4 Years Straight Line
Motor Vehicles 25% Reducing Balance
Office Equipment 3 Years Straight Line
Computer Equipment 3 Years Straight Line
Improvements to Property 4 Years Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 15 (2023 : 6).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 September 2023 2    2 
Additions  
Disposals  
At 31 August 2024 2    2 
Net book values
At 31 August 2024 2    2 
At 31 August 2023 2    2 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Office Equipment   Computer Equipment   Improvements to Property   Total
  £   £   £   £   £   £   £
At 01 September 2023 85,938    961,038    3,077    54,916    4,640    105,283    1,214,892 
Additions   141,926    7,044    4,206    1,660      154,836 
Disposals            
Revaluations   6,445            6,445 
At 31 August 2024 85,938    1,109,409    10,121    59,122    6,300    105,283    1,376,173 
Depreciation
At 01 September 2023 18,448    7,200    607    7,588    621    10,702    45,166 
Charge for year 21,484    52,878    764    18,482    1,894    26,321    121,823 
On disposals            
At 31 August 2024 39,932    60,078    1,371    26,070    2,515    37,023    166,989 
Net book values
Closing balance as at 31 August 2024 46,006    1,049,331    8,750    33,052    3,785    68,260    1,209,184 
Opening balance as at 01 September 2023 67,490    953,838    2,470    47,328    4,019    94,581    1,169,726 

The net book value of Plant and Machinery includes £ 213,922 (2023 £225,435) in respect of assets leased under finance leases or hire purchase contracts.

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