Company No: 13004479 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	3,170,499		2,173,532
		3,170,499		2,173,532
Current assets
Stocks	4	139,594		1,918
Debtors	5	87,926		75,493
Cash at bank and in hand		102,719		164,421
		330,239		241,832
Creditors: amounts falling due within one year	6	( 1,125,184)		( 511,207)
Net current liabilities		(794,945)		(269,375)
Total assets less current liabilities		2,375,554		1,904,157
Creditors: amounts falling due after more than one year	7	( 754,421)		( 563,278)
Net assets		1,621,133		1,340,879
Capital and reserves
Called-up share capital	8	89		79
Share premium account		3,615,698		2,335,727
Profit and loss account		( 1,994,654 )		( 994,927 )
Total shareholders' funds		1,621,133		1,340,879

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 members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge 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 The Wiltshire Distilling Company Limited (registered number: 13004479) were approved and authorised for issue by the Board of Directors on 25 September 2025. They were signed on its behalf by:

R L Bancroft Director

A Munro 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

The Wiltshire Distilling Company 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 Witchmark Distillery, Fonthill Bishop, Salisbury, SP3 5SF, United Kingdom.

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 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, through a combination of its existing resources and the availability of further debt funding for working capital from its investors, 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods 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.

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.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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 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:

Leasehold improvements	10 years straight line
Plant and machinery	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	10 years straight line
Computer equipment	3 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.

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, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. 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.

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.

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.

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.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	11		9

3. Tangible assets

	Leasehold improve- ments		Plant and machinery		Vehicles		Fixtures and fittings		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 January 2024	0		2,153,336		22,470		0		563		2,176,369
Additions	263,523		706,201		19,670		72,387		0		1,061,781
Disposals	0		( 4,695)		0		0		0		( 4,695)
At 31 December 2024	263,523		2,854,842		42,140		72,387		563		3,233,455
Accumulated depreciation
At 01 January 2024	0		0		2,578		0		259		2,837
Charge for the financial year	4,353		46,792		7,655		1,131		188		60,119
At 31 December 2024	4,353		46,792		10,233		1,131		447		62,956
Net book value
At 31 December 2024	259,170		2,808,050		31,907		71,256		116		3,170,499
At 31 December 2023	0		2,153,336		19,892		0		304		2,173,532

4. Stocks

	2024		2023
	£		£
Raw materials	14,500		1,235
Work in progress	112,110		0
Finished goods	12,984		683
	139,594		1,918

5. Debtors

	2024		2023
	£		£
Trade debtors	25,843		60,165
Amounts owed by directors	17		17
Prepayments	407		1,674
VAT recoverable	61,659		13,637
	87,926		75,493

6. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	237,582		105,099
Other loans	666,943		275,000
Accruals	68,452		7,500
Other taxation and social security	11,186		0
Obligations under finance leases and hire purchase contracts (secured)	141,021		117,269
Other creditors	0		6,339
	1,125,184		511,207

Please refer to note 7 for detail regarding the security of the hire purchase contract.

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

	2024		2023
	£		£
Obligations under finance leases and hire purchase contracts (secured)	714,877		563,278
Other creditors	39,544		0
	754,421		563,278

The hire purchase contract is secured on the asset to which it relates.

8. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
8,948,835 Ordinary shares of £ 0.00001 each (2023: 7,862,180 shares of £ 0.00001 each)	89		79