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Registered number: 11398014
Shropshire Hills Distillery Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Wyche Accountancy Services Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11398014
30 September 2024 30 September 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 81,832 88,147
81,832 88,147
CURRENT ASSETS
Stocks 5 67,333 85,417
Debtors 6 180,132 126,142
Cash at bank and in hand 16,649 16,345
264,114 227,904
Creditors: Amounts Falling Due Within One Year 7 (226,164 ) (221,266 )
NET CURRENT ASSETS (LIABILITIES) 37,950 6,638
TOTAL ASSETS LESS CURRENT LIABILITIES 119,782 94,785
Creditors: Amounts Falling Due After More Than One Year 8 (331,451 ) (236,133 )
NET LIABILITIES (211,669 ) (141,348 )
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account (211,670 ) (141,349 )
SHAREHOLDERS' FUNDS (211,669) (141,348)
Page 1
Page 2
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S L Ward
Director
31 July 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Shropshire Hills Distillery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11398014 . The registered office is Unit 1 & 2, Bromfield Road, Bromfield, Shropshire, SY8 2JR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 25% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 11)
10 11
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 October 2023 30,512 47,977 37,522 5,923 121,934
Additions - - 9,907 - 9,907
As at 30 September 2024 30,512 47,977 47,429 5,923 131,841
Depreciation
As at 1 October 2023 13,921 10,716 5,791 3,359 33,787
Provided during the period 4,148 7,679 3,754 641 16,222
As at 30 September 2024 18,069 18,395 9,545 4,000 50,009
Net Book Value
As at 30 September 2024 12,443 29,582 37,884 1,923 81,832
As at 1 October 2023 16,591 37,261 31,731 2,564 88,147
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
30 September 2024 30 September 2023
£ £
Motor Vehicles 29,582 37,261
5. Stocks
30 September 2024 30 September 2023
£ £
Stock 67,333 85,417
6. Debtors
30 September 2024 30 September 2023
£ £
Due within one year
Trade debtors 72,601 58,982
Prepayments and accrued income 17,914 14,944
Other debtors 10,555 -
Other taxes and social security 1,489 381
Amounts owed by group undertakings 77,573 51,835
180,132 126,142
An amount of £10,555 (2023: £nil) included in other debtors relates to an invoice factoring facility which is secured on the assets of the company.
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7. Creditors: Amounts Falling Due Within One Year
30 September 2024 30 September 2023
£ £
Net obligations under finance lease and hire purchase contracts 12,323 4,720
Trade creditors 83,708 73,454
Bank loans and overdrafts 62,299 46,327
VAT 56,165 35,229
Other creditors 10,469 7,737
Accruals and deferred income 1,200 1,200
Director's loan account - 52,599
226,164 221,266
An amount of £nil (2023: £22,995) included in Bank loans and overdrafts relates to an invoice factoring facility which is secured on the assets of the company.
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
8. Creditors: Amounts Falling Due After More Than One Year
30 September 2024 30 September 2023
£ £
Net obligations under finance lease and hire purchase contracts 13,081 25,834
Other loans 107,500 107,500
Non-current bank loans 74,743 102,799
Directors loan account 136,127 -
331,451 236,133
Net obligations under finance lease and hire purchase contracts are secured on the assets to which they relate.
9. Obligations Under Finance Leases and Hire Purchase
30 September 2024 30 September 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 12,323 4,720
Later than one year and not later than five years 13,081 25,834
25,404 30,554
25,404 30,554
10. Share Capital
30 September 2024 30 September 2023
£ £
Allotted, Called up and fully paid 1 1
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