REGISTERED NUMBER: 13591429 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

SOUTH DOWNS SPIRITS COMPANY LIMITED

TRADING AS

GOLDSTONE RUM

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

G A Bowell

J P Bowell

REGISTERED OFFICE:

Unit 43 Henfield Business Park

Shoreham Road

Henfield

BN5 9SL

REGISTERED NUMBER:

13591429 (England and Wales)

ACCOUNTANTS:

Galloways Accounting Limited

15 West Street

Brighton

East Sussex

BN1 2RL

FIXED ASSETS

Intangible assets

4

4,594

5,251

Tangible assets

5

88,331

84,250

92,925

89,501

CURRENT ASSETS

Stocks

23,275

11,647

Debtors

6

21,615

10,648

Cash at bank

26,516

6,392

71,406

28,687

CREDITORS

Amounts falling due within one year

7

226,351

205,860

NET CURRENT LIABILITIES

(154,945

)

(177,173

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(62,020

)

(87,672

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(62,022

)

(87,674

)

(62,020

)

(87,672

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 19 August 2026 and were signed on its behalf by:

G A Bowell - Director

1.	STATUTORY INFORMATION

South Downs Spirits Company Limited is a private company, limited by shares , registered in England and Wales. 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 (£).

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.

Turnover represents the provision of drinks, tours & schooling of spirits, and is recognised at point of sale or when service obligations are met.

Intangible assets

Intangible assets are initially measured at cost and subsequently are measured at cost less any accumulated amortisation over 10 years, 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.

Distillery equipment

- Straight line over 20 years

Plant and machinery

- 33% on cost

Fixtures and fittings

- 25% on cost

Computer equipment

- 25% on cost

Tangible fixed assets are initially measured at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks

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

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.

Going concern

The financial statements have been prepared on a going concern basis, not withstanding the company's net liabilities, The directors of the company continues to provide support as necessary and intends to ensure that there is adequate working capital for at least 12 months from the date of approval of these accounts. Thus the directors continues to adopt the going concern basis of accounting in preparing the financial statements.

Prior year adjustments

In previous years, the depreciation policy applied to plant and machinery was incorrect.The prior year has been restated to reflect a correction in the amounts reported for plant and machinery, depreciation and retained earnings.

At 31 August 2024, there was a £32,375 decrease in accumulated depreciation relating to plant and

machinery, resulting in a corresponding increase in retained earnings of £32,375. In addition, the depreciation charge for the year decreased by £26,208, resulting in a corresponding increase in profit for the year. The total increase in retained earnings arising from these adjustments was £58,583.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

Website

Totals

£

£

£

COST

At 1 September 2024

and 31 August 2025

570

6,000

6,570

AMORTISATION

At 1 September 2024

119

1,200

1,319

Amortisation for year

57

600

657

At 31 August 2025

176

1,800

1,976

NET BOOK VALUE

At 31 August 2025

394

4,200

4,594

At 31 August 2024

451

4,800

5,251

5.	TANGIBLE FIXED ASSETS

Fixtures

Distillery

Plant and

and

equipment

machinery

fittings

£

£

£

COST

At 1 September 2024

-

91,588

5,742

Additions

-

-

-

Reclassification/transfer

90,487

(90,487

)

-

At 31 August 2025

90,487

1,101

5,742

DEPRECIATION

At 1 September 2024

-

10,657

2,679

Charge for year

4,625

361

1,435

Reclassification/transfer

10,439

(10,439

)

-

At 31 August 2025

15,064

579

4,114

NET BOOK VALUE

At 31 August 2025

75,423

522

1,628

At 31 August 2024

-

80,931

3,063

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2024

-

827

98,157

Additions

13,883

358

14,241

Reclassification/transfer

-

-

-

At 31 August 2025

13,883

1,185

112,398

DEPRECIATION

At 1 September 2024

-

571

13,907

Charge for year

3,452

287

10,160

Reclassification/transfer

-

-

-

At 31 August 2025

3,452

858

24,067

NET BOOK VALUE

At 31 August 2025

10,431

327

88,331

At 31 August 2024

-

256

84,250

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

19,337

10,016

Other debtors

156

147

Tax

1,374

-

Prepayments

748

485

21,615

10,648

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Hire purchase contracts

5,700

7,300

VAT

8,492

4,510

Other creditors

397

152

Directors' loan accounts

209,567

191,872

Accruals and deferred income

2,195

2,026

226,351

205,860