Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Craig A J Milne 17/09/2015 Daniel D Milne 03/08/2015 Daniel Denis Milne 23 May 2025 The principal activity of the Company during the financial year was that of online whisky auctioneer. SC512144 2024-12-31 SC512144 bus:Director1 2024-12-31 SC512144 bus:Director2 2024-12-31 SC512144 2023-12-31 SC512144 core:CurrentFinancialInstruments 2024-12-31 SC512144 core:CurrentFinancialInstruments 2023-12-31 SC512144 core:Non-currentFinancialInstruments 2024-12-31 SC512144 core:Non-currentFinancialInstruments 2023-12-31 SC512144 core:ShareCapital 2024-12-31 SC512144 core:ShareCapital 2023-12-31 SC512144 core:RetainedEarningsAccumulatedLosses 2024-12-31 SC512144 core:RetainedEarningsAccumulatedLosses 2023-12-31 SC512144 core:LandBuildings 2023-12-31 SC512144 core:OtherPropertyPlantEquipment 2023-12-31 SC512144 core:LandBuildings 2024-12-31 SC512144 core:OtherPropertyPlantEquipment 2024-12-31 SC512144 core:CostValuation 2023-12-31 SC512144 core:CostValuation 2024-12-31 SC512144 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2024-12-31 SC512144 core:OtherSubsidiariesTotalIndividuallyImmaterialSubsidiaries core:CurrentFinancialInstruments 2023-12-31 SC512144 core:MoreThanFiveYears 2024-12-31 SC512144 core:MoreThanFiveYears 2023-12-31 SC512144 bus:OrdinaryShareClass1 2024-12-31 SC512144 2024-01-01 2024-12-31 SC512144 bus:FilletedAccounts 2024-01-01 2024-12-31 SC512144 bus:SmallEntities 2024-01-01 2024-12-31 SC512144 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 SC512144 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 SC512144 bus:Director1 2024-01-01 2024-12-31 SC512144 bus:Director2 2024-01-01 2024-12-31 SC512144 bus:Director3 2024-01-01 2024-12-31 SC512144 core:LandBuildings 2024-01-01 2024-12-31 SC512144 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 SC512144 2023-01-01 2023-12-31 SC512144 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 SC512144 core:Non-currentFinancialInstruments 2024-01-01 2024-12-31 SC512144 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 SC512144 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC512144 (Scotland)

WHISKY HAMMER LTD

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH THE REGISTRAR

WHISKY HAMMER LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024

Contents

WHISKY HAMMER LTD

BALANCE SHEET

AS AT 31 DECEMBER 2024
WHISKY HAMMER LTD

BALANCE SHEET (continued)

AS AT 31 DECEMBER 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,739,103 1,791,649
Investments 4 6,105 6,105
1,745,208 1,797,754
Current assets
Stocks 34,203 9,725
Debtors 5 579,441 612,185
Cash at bank and in hand 167,813 41,900
781,457 663,810
Creditors: amounts falling due within one year 6 ( 184,069) ( 176,733)
Net current assets 597,388 487,077
Total assets less current liabilities 2,342,596 2,284,831
Creditors: amounts falling due after more than one year 7 ( 573,685) ( 598,575)
Provision for liabilities 8 ( 147,558) ( 152,184)
Net assets 1,621,353 1,534,072
Capital and reserves
Called-up share capital 9 133,626 133,626
Profit and loss account 1,487,727 1,400,446
Total shareholder's funds 1,621,353 1,534,072

For the financial year ending 31 December 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Whisky Hammer Ltd (registered number: SC512144) were approved and authorised for issue by the Board of Directors on 23 May 2025. They were signed on its behalf by:

Daniel Denis Milne
Director
WHISKY HAMMER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
WHISKY HAMMER LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2024
1. Accounting policies

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

General information and basis of accounting

Whisky Hammer Ltd (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 Whisky Hammer, Udny, Ellon, AB41 7PR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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 and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 5 % reducing balance
Plant and machinery etc. 10 - 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible 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).

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 deposits held at call with banks with original maturities of three months or less.

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 measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, 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.

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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 14

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 January 2024 1,662,184 391,385 2,053,569
Additions 5,350 64,575 69,925
Disposals 0 ( 35,177) ( 35,177)
At 31 December 2024 1,667,534 420,783 2,088,317
Accumulated depreciation
At 01 January 2024 166,009 95,911 261,920
Charge for the financial year 68,216 30,054 98,270
Disposals 0 ( 10,976) ( 10,976)
At 31 December 2024 234,225 114,989 349,214
Net book value
At 31 December 2024 1,433,309 305,794 1,739,103
At 31 December 2023 1,496,175 295,474 1,791,649

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 January 2024 6,105
At 31 December 2024 6,105
Carrying value at 31 December 2024 6,105
Carrying value at 31 December 2023 6,105

5. Debtors

2024 2023
£ £
Trade debtors 0 755
Amounts owed by fellow subsidiaries 534,442 555,158
Other debtors 44,999 56,272
579,441 612,185

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 41,743 41,084
Trade creditors 23,727 38,530
Taxation and social security 71,820 92,199
Other creditors 46,779 4,920
184,069 176,733

Bank loans are secured by a floating charge over the property and undertakings of the company and, in part, by a Government guarantee. In addition, security in the form of a personal guarantee has been given by the directors.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 573,685 598,575

Bank loans are secured by a floating charge over the property and undertakings of the company and, in part, by a Government guarantee. In addition, security in the form of a personal guarantee has been given by the directors.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (repayable by instalments) 427,076 450,983

8. Provision for liabilities

2024 2023
£ £
Deferred tax 147,558 152,184

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
133,626 Ordinary shares of £ 1.00 each 133,626 133,626

10. Related party transactions

The Company has taken advantage of the exemption provided in FRS 102 Section 33 Related Party Disclosures not to disclose transactions entered into with fellow group companies that are wholly owned within the group of companies of which the Company is a wholly owned member.