REGISTERED NUMBER: SC560549 (Scotland)

NORTH UIST DISTILLERY LTD

Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Ingledew

K A Macdonald

C Lynden

H R Gabb

REGISTERED OFFICE:

Bayview

Baymore

Grimsay

Isle of North Uist

HS6 5HX

REGISTERED NUMBER:

SC560549 (Scotland)

ACCOUNTANTS:

Mann Judd Gordon Ltd

Chartered Accountants

26 Lewis Street

Stornoway

Isle of Lewis

HS1 2JF

FIXED ASSETS

Intangible assets

5

1,243

1,243

Tangible assets

6

2,643,655

2,368,988

2,644,898

2,370,231

CURRENT ASSETS

Stocks

507,924

357,804

Debtors

7

280,965

382,702

Cash at bank and in hand

286,963

263,525

1,075,852

1,004,031

CREDITORS

Amounts falling due within one year

8

58,988

152,388

NET CURRENT ASSETS

1,016,864

851,643

TOTAL ASSETS LESS CURRENT LIABILITIES

3,661,762

3,221,874

CREDITORS

Amounts falling due after more than one year

9

(180,558

)

(197,535

)

PROVISIONS FOR LIABILITIES

(53,002

)

(41,599

)

ACCRUALS AND DEFERRED INCOME

10

(1,693,920

)

(1,239,100

)

NET ASSETS

1,734,282

1,743,640

CAPITAL AND RESERVES

Called up share capital

11

138

138

Share premium

1,394,995

1,394,995

Retained earnings

339,149

348,507

SHAREHOLDERS' FUNDS

1,734,282

1,743,640

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 December 2025 and were signed on its behalf by:

J Ingledew - Director

K A Macdonald - Director

1.	STATUTORY INFORMATION

North Uist Distillery Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The financial statements are rounded to the nearest £1.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. Turnover is derived from the sale of Downpour Gin, distillery tours, tasting sessions and merchandise.

Intangible assets

Trade Mark costs are measured at cost. Amortisation is not provided on trade mark costs but trade marks are periodically reviewed for impairment.

Tangible fixed assets

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

Freehold property

-

2% depreciation on cost

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Computer equipmt & Website

-

at varying rates on cost

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 Profit and Loss Account, 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.

Advance cask sales

The income from Advance Cask Sales is recognised as deferred income and capitalised within Accruals and Deferred Income on the face of the Balance Sheet. This income in advance will be recognised in turnover in the future on the bottling of the Whisky on maturity.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 13 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

1,243

NET BOOK VALUE

At 31 March 2025

1,243

At 31 March 2024

1,243

6.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2024

384,588

-

1,973,798

Additions

-

199,849

72,241

Reclassification/transfer

(266,406

)

394,902

-

At 31 March 2025

118,182

594,751

2,046,039

DEPRECIATION

At 1 April 2024

7,379

-

13,932

Charge for year

2,363

11,895

104,209

At 31 March 2025

9,742

11,895

118,141

NET BOOK VALUE

At 31 March 2025

108,440

582,856

1,927,898

At 31 March 2024

377,209

-

1,959,866

Fixtures

Computer

and

Motor

equipmt &

fittings

vehicles

Website

Totals

£

£

£

£

COST

At 1 April 2024

20,370

35,998

25,898

2,440,652

Additions

-

-

1,291

273,381

Reclassification/transfer

-

-

-

128,496

At 31 March 2025

20,370

35,998

27,189

2,842,529

DEPRECIATION

At 1 April 2024

8,673

17,858

23,822

71,664

Charge for year

3,130

4,535

1,078

127,210

At 31 March 2025

11,803

22,393

24,900

198,874

NET BOOK VALUE

At 31 March 2025

8,567

13,605

2,289

2,643,655

At 31 March 2024

11,697

18,140

2,076

2,368,988

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

67,356

76,750

Other debtors

213,609

305,952

280,965

382,702

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,558

10,000

Trade creditors

16,940

71,642

Taxation and social security

11,170

22,585

Other creditors

20,320

48,161

58,988

152,388

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

-

10,990

Other creditors

180,558

186,545

180,558

197,535

10.	ACCRUALS AND DEFERRED INCOME

31.3.25

31.3.24

£

£

Accruals and deferred income

898,213

540,204

Deferred government grants

795,707

698,896

1,693,920

1,239,100

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

1,000,000

Ordinary

0.000

1

100

100

234,730

A1 Ordinary

0.000

1

23

23

152,780

A2 Ordinary

0.000

1

15

15

138

138

12.	CAPITAL COMMITMENTS

31.3.25

31.3.24

£

£

Contracted but not provided for in the

financial statements

21,000

219,484

13.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its directors the sum of £174,442 (2024 : £172,295 in respect of loans made to the company. No interest was charged on loan balances and no fixed repayment terms are in place.

14.	GOVERNMENT GRANTS

The Company was in receipt of revenue grants in the year from various funders to the value of £9,000 (2024 :£Nil).

The Company was also in receipt of capital grants in the year from various funders. These grants have been deferred and capitalised as deferred grants in the balance sheet. These deferred capital grants are being released to the profit and loss account in line with the depreciation charged on the assets to which the grants relate.

Deferred Capital grants are included within Accruals and Deferred Income on the Balance Sheet.

£

Deferred Grants brought forward

698,896

Capital Grants received in the year

140,861

Release of deferred grant

(44,049

)

Deferred Grants carried forward

795,707