Twenty Light Spirits Limited


Directors	Adam Gregory Papa
	Grant Carnegy Neave


Registered Address	48 West George Street
	Suite 2/3, 2nd Floor
	Glasgow
	G2 1BP


Registered Number	SC644017 (Scotland)

Balance Sheet as at
31 October 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		2,041		2,551
			2,041		2,551
Current assets
Stocks		5,987		3,353
Debtors		1,578		2,080
Cash at bank and on hand		16,157		193
		23,722		5,626
Creditors amounts falling due within one year		(7,950)		(15,517)
Net current assets (liabilities)			15,772		(9,891)
Total assets less current liabilities			17,813		(7,340)
Net assets			17,813		(7,340)
Capital and reserves
Called up share capital			31,230		10,000
Share premium			35,071		20,070
Profit and loss account			(48,488)		(37,410)
Shareholders' funds			17,813		(7,340)

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 Directors acknowledge 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The financial statements were approved and authorised for issue by the Board of Directors on 28 July 2026, and are signed on its behalf by:

Adam Gregory Papa
Director
Registered Company No. SC644017

Twenty Light Spirits Limited

Notes to the Financial Statements
for the year ended 31 October 2025

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.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	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 is also supported by loans from its directors. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Revenue from sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	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. Website development is being amortised evenly over its estimated useful life of 5 years.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	0		0

3.	Intangible assets

		Total
		£
	Cost or valuation
	At 01 November 24	4,320
	At 31 October 25	4,320
	Amortisation and impairment
	At 01 November 24	1,769
	Charge for year	510
	At 31 October 25	2,279
	Net book value
	At 31 October 25	2,041
	At 31 October 24	2,551