Company No: 09882249 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	347,803		356,297
		347,803		356,297
Current assets
Stocks	4	26,991		35,757
Debtors	5	40,451		84,836
Cash at bank and in hand		41,359		23,307
		108,801		143,900
Creditors: amounts falling due within one year	6	( 54,171)		( 53,245)
Net current assets		54,630		90,655
Total assets less current liabilities		402,433		446,952
Creditors: amounts falling due after more than one year	7	( 32,351)		( 36,973)
Provision for liabilities		( 40,004)		( 41,618)
Net assets		330,078		368,361
Capital and reserves
Called-up share capital	8	1		1
Profit and loss account		330,077		368,360
Total shareholder's funds		330,078		368,361

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.

Director's responsibilities:

• The member has 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Colwith Farm Distillery Limited (registered number: 09882249) were approved and authorised for issue by the Director on 18 September 2025. They were signed on its behalf by:

Mr S Dustow 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

Colwith Farm 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 Colwith Farm, Treesmill, Par, PL24 2TU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 has 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 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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
its is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

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, reducing balance] basis over its expected useful life, as follows:

Land and buildings	not depreciated
Plant and machinery	15 - 20 % reducing balance
	3 - 10 years straight line
Vehicles	20 % 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.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	8		8

3. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Total
	£		£		£		£
Cost
At 01 January 2024	137,254		359,609		3,800		500,663
Additions	0		11,259		14,500		25,759
At 31 December 2024	137,254		370,868		18,300		526,422
Accumulated depreciation
At 01 January 2024	0		141,467		2,899		144,366
Charge for the financial year	0		32,215		2,038		34,253
At 31 December 2024	0		173,682		4,937		178,619
Net book value
At 31 December 2024	137,254		197,186		13,363		347,803
At 31 December 2023	137,254		218,142		901		356,297

4. Stocks

	2024		2023
	£		£
Stocks	26,991		35,757

There are no material differences between the replacement cost of stock and the Balance Sheet amounts.

5. Debtors

	2024		2023
	£		£
Trade debtors	39,281		33,420
Other debtors	1,170		51,416
	40,451		84,836

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	5,134		17,810
Taxation and social security	29,185		32,622
Other creditors	19,852		2,813
	54,171		53,245

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

	2024		2023
	£		£
Other creditors	32,351		36,973

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

9. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Director Loan Account	(17,651)		51,083

During the year advances were made to the director of £131,148 and the director repaid £199,882. Interest was charged at 2.25% on the loan.