Company registration number SC732412 (Scotland)
Kilninian Drinks Co Limited
unaudited financial statements
for the year ended 31 May 2025
Pages for filing with registrar
Kilninian Drinks Co Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Kilninian Drinks Co Limited
Balance sheet
as at 31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,915
2,553
Current assets
Stocks
45,591
87,307
Debtors
4
89,056
16,508
Cash at bank and in hand
13,734
9,812
148,381
113,627
Creditors: amounts falling due within one year
5
(201,079)
(114,707)
Net current liabilities
(52,698)
(1,080)
Total assets less current liabilities
(50,783)
1,473
Provisions for liabilities
-
0
(638)
Net (liabilities)/assets
(50,783)
835
Capital and reserves
Called up share capital
300
200
Profit and loss reserves
(51,083)
635
Total equity
(50,783)
835
Kilninian Drinks Co Limited
Balance sheet (continued)
as at 31 May 2025
- 2 -

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 March 2026 and are signed on its behalf by:
J A Williamson
Director
Company registration number SC732412 (Scotland)
Kilninian Drinks Co Limited
Notes to the Financial Statements
for the year ended 31 May 2025
- 3 -
1
Accounting policies
Company information

Kilninian Drinks Co Limited is a private company limited by shares incorporated in Scotland. The registered office is 43 Main Street, Doune, Scotland, FK16 6BJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies' regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The directors have considered the financial position of the company, including projected trading results and cash flows for a period of at least twelve months from the date of approval of these financial statements.true

Based on these forecasts, and after reviewing the company's liquidity, commitments and financial resources, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements have been prepared on a going concern basis.

1.3
Turnover

Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to the date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Kilninian Drinks Co Limited
Notes to the Financial Statements (continued)
for the year ended 31 May 2025
1
Accounting policies (continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

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

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, amounts owed by related parties, and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Kilninian Drinks Co Limited
Notes to the Financial Statements (continued)
for the year ended 31 May 2025
1
Accounting policies (continued)
- 5 -
1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

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

1.12
Retirement benefits

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

Kilninian Drinks Co Limited
Notes to the Financial Statements (continued)
for the year ended 31 May 2025
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
2
3
Tangible fixed assets
Computers
Motor vehicles
Total
£
£
£
Cost
At 1 June 2024 and 31 May 2025
575
2,750
3,325
Depreciation and impairment
At 1 June 2024
142
630
772
Depreciation charged in the year
108
530
638
At 31 May 2025
250
1,160
1,410
Carrying amount
At 31 May 2025
325
1,590
1,915
At 31 May 2024
433
2,120
2,553
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
87,339
15,392
Other debtors
1,717
1,116
89,056
16,508
Kilninian Drinks Co Limited
Notes to the Financial Statements (continued)
for the year ended 31 May 2025
- 7 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
11
-
0
Trade creditors
151,107
-
0
Corporation tax
2,026
4,462
Other taxation and social security
11,521
2,411
Other creditors
36,414
107,834
201,079
114,707
6
Related party transactions

At the year end, the company was owed £800 (2024: £nil) by Bentalla Cowden Limited, a company with the same controlling director.

During the year, the company received loans of £30,000 from Torrance Premium Spirits Limited, a company controlled by one of the directors.

7
Directors' transactions

Dividends totalling £Nil (2024: £18,500) we paid in the year in respect of shares held by the company's directors.

Included in other creditors are amounts due to the directors of £3,076 (2024: £2,896). This loan is interest free and repayable on demand.

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