THE WHISKY CELLAR LIMITED


Director	K Bonnington


Registered Address	93 George Street
	Edinburgh
	EH2 3ES


Registered Number	SC549354 (Scotland)

Balance Sheet as at
30 November 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	3		298		581
			298		581
Current assets
Stocks	4	480,410		368,940
Debtors		22,375		50,905
Cash at bank and on hand		943		-
		503,728		419,845
Creditors amounts falling due within one year	5	(404,676)		(183,345)
Net current assets (liabilities)			99,052		236,500
Total assets less current liabilities			99,350		237,081
Creditors amounts falling due after one year	6		(5,667)		(15,000)
Net assets			93,683		222,081
Capital and reserves
Called up share capital			8		8
Share premium			39,998		39,998
Profit and loss account			53,677		182,075
Shareholders' funds			93,683		222,081

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 5 May 2026, and are signed on its behalf by:

K Bonnington
Director
Registered Company No. SC549354

THE WHISKY CELLAR LIMITED

Notes to the Financial Statements
for the year ended 30 November 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	These financial statements have been prepared in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the provisions of Section 1A 'Small Entities' (FRS102 section 1A) and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 December 23	1,337	1,337
At 30 November 24	1,337	1,337
Depreciation and impairment
At 01 December 23	756	756
Charge for year	283	283
At 30 November 24	1,039	1,039
Net book value
At 30 November 24	298	298
At 30 November 23	581	581

4.	Stocks

	2024	2023
	£	£
Other stocks	480,410	368,940
Total	480,410	368,940

5.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	55,546	36,982
Bank borrowings and overdrafts	27,500	66,715
Taxation and social security	9,086	37,644
Other creditors	308,642	33,931
Accrued liabilities and deferred income	3,902	8,073
Total	404,676	183,345

6.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	5,667	15,000
Total	5,667	15,000

7.	Secured creditors
	Bank borrowings and overdrafts comprise a Business Bounceback loan and a loan From IWOCA finance. The Bounceback loan is guaranteed by the UK Government, bears interest at 2.5% and is repayable over a 5 year term. IWOCA Ltd have provided a maximum revolving credit facility of £27,500 at an interest rate of 5.05% per 30 days on any balance drawn down. The facility is unsecured and has no fixed duration.

Secured creditors

Bank borrowings and overdrafts comprise a Business Bounceback loan and a loan From IWOCA finance. 

The Bounceback loan is guaranteed by the UK Government, bears interest at 2.5% and is repayable over a 5 year term.

IWOCA Ltd have provided a maximum revolving credit facility of £27,500 at an interest rate of 5.05% per 30 days on any balance drawn down. The facility is unsecured and has no fixed duration.

8.	Operating lease commitments
	At 30 Nov 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £40,404 (2023 – £2,460).