REGISTERED NUMBER: SC586869 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Isle of Bute Gin Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Wheatley

A D Rimmer

Mrs R M Madigan-Wheatley

REGISTERED OFFICE:

Pavilion 1

Finnieston Business Park

Minerva Way

Glasgow

G3 8AU

REGISTERED NUMBER:

SC586869 (Scotland)

ACCOUNTANTS:

Gerber Landa & Gee

Chartered Accountants

Pavilion 1

Finnieston Business Park

Minerva Way

GLASGOW

G3 8AU

FIXED ASSETS

Intangible assets

4

2,200

2,750

Tangible assets

5

19,007

45,899

21,207

48,649

CURRENT ASSETS

Stocks

22,677

32,383

Debtors

6

11,366

6,309

Cash at bank and in hand

3,043

7,658

37,086

46,350

CREDITORS

Amounts falling due within one year

7

149,762

92,162

NET CURRENT LIABILITIES

(112,676

)

(45,812

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(91,469

)

2,837

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(91,569

)

2,737

(91,469

)

2,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2025 and were signed on its behalf by:

D Wheatley - Director

1.	STATUTORY INFORMATION

Isle of Bute Gin Company Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Plant and Machinery 20-25% Straight Line

- Computer Equipment 20-25% Straight Line

- Fixtures & Fittings 25% Straight Line

- Motor Vehicles 25% Straight Line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2024 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

5,500

AMORTISATION

At 1 February 2024

2,750

Charge for year

550

At 31 January 2025

3,300

NET BOOK VALUE

At 31 January 2025

2,200

At 31 January 2024

2,750

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2024

152,076

Additions

5,047

At 31 January 2025

157,123

DEPRECIATION

At 1 February 2024

106,177

Charge for year

31,939

At 31 January 2025

138,116

NET BOOK VALUE

At 31 January 2025

19,007

At 31 January 2024

45,899

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade debtors

11,180

6,309

Other debtors

186

-

11,366

6,309

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

£

£

Trade creditors

3,134

3,794

Taxation and social security

18,649

6,975

Other creditors

127,979

81,393

149,762

92,162