|
THE SURREY HILLS DISTILLING COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
The Surrey Hills Distilling Company Ltd is a private company by shares incorporated in England and Wales. The registered office is Silent Pool Distillery, Shere Road, Albury, Surrey, England GU5 9BW.
2.Accounting policies
|
|
|
Basis of preparation of financial statements
|
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The company had net Liabillity of £36,472 at the balance sheet date. Included within creditors is a loan from the parent company, Spiritmen Limited of £42,472.
The parent company, Spiritmen Ltd, has confirmed it will continue to support the company and is confident that it has adequate resources to continue in operational existence for the foreseeable future and meet its financial obligations.
Therefore the Directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Turnover represents amounts reveivable in respect of the recharge of operating expenses to connected companies net VAT.
Income is recognised in the period in which the service was supplied.
|
|
|
Operating leases: the Company as lessee
|
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Page 2
|