Company No: 08338383 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	80,546		89,931
		80,546		89,931
Current assets
Stocks		103,942		229,117
Debtors	5	4,364		7,659
Cash at bank and in hand		7,682		765
		115,988		237,541
Creditors: amounts falling due within one year	6	( 790,355)		( 37,880)
Net current (liabilities)/assets		(674,367)		199,661
Total assets less current liabilities		(593,821)		289,592
Creditors: amounts falling due after more than one year	7	( 16,983)		( 699,389)
Net liabilities		( 610,804)		( 409,797)
Capital and reserves
Called-up share capital	8	15,100		15,100
Profit and loss account		( 625,904 )		( 424,897 )
Total shareholders' deficit		( 610,804)		( 409,797)

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Devon Distillery Limited (registered number: 08338383) were approved and authorised for issue by the Director on 29 August 2025. They were signed on its behalf by:

Mr C E Caddy Director

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

Devon Distillery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is:

Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
United Kingdom.

The principle place of business is:

Unit 8 South Devon
Food Hub
Longcombe
Totnes
TQ9 6PW

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, 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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £610,804. The Company is supported through loans from a group company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the group company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost. Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date. Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Other intangible assets

5 years straight line

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, other than investment property 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:

Plant and machinery	15 % reducing balance
Vehicles	25 % reducing balance
Office equipment	4 years straight line

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	3		6

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 01 April 2024	4,320		4,320
At 31 March 2025	4,320		4,320
Accumulated amortisation
At 01 April 2024	4,320		4,320
At 31 March 2025	4,320		4,320
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£
Cost
At 01 April 2024	187,446		92,476		21,115		301,037
Additions	9,961		0		0		9,961
Disposals	0		( 28,342)		( 9,932)		( 38,274)
At 31 March 2025	197,407		64,134		11,183		272,724
Accumulated depreciation
At 01 April 2024	113,797		76,870		20,439		211,106
Charge for the financial year	12,543		3,064		376		15,983
Disposals	0		( 24,979)		( 9,932)		( 34,911)
At 31 March 2025	126,340		54,955		10,883		192,178
Net book value
At 31 March 2025	71,067		9,179		300		80,546
At 31 March 2024	73,649		15,606		676		89,931

5. Debtors

	2025		2024
	£		£
Trade debtors	1,420		6,965
VAT recoverable	2,944		0
Other debtors	0		694
	4,364		7,659

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans	15,208		17,382
Trade creditors	6,677		150
Amounts owed to director	47,210		0
Other loans	7,500		7,500
Accruals	3,040		3,933
Other taxation and social security	0		7,729
Other creditors	710,720		1,186
	790,355		37,880

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

	2025		2024
	£		£
Bank loans	1,769		12,231
Obligations under finance leases and hire purchase contracts (secured)	15,214		19,960
Other creditors	0		667,198
	16,983		699,389

Finance lease liabilities and hire purchase agreements are secured on the individual assets to which they relate.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each	100		100
15,000 Redeemable preference shares of £ 1.00 each	15,000		15,000
	15,100		15,100

9. Ultimate controlling party

Parent Company:

Aboris Group Ltd, incorporated in England and Wales.

Sigma House, Oak View Close, Edginswell Park, Torquay, England, TQ2 7FF.