Registration number:
The Bristol Distilling Company Limited
for the Period from 24 February 2017 to 28 February 2018
Chartered Certified Accountants
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP
The Bristol Distilling Company Limited
Contents
Company Information |
|
Accountants' Report |
|
Balance Sheet |
|
Notes to the Financial Statements |
The Bristol Distilling Company Limited
Company Information
Directors |
Mrs Emily Black Mr Jake Black |
Registered office |
|
Accountants |
|
Page 1 |
Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Bristol Distilling Company Limited
for the Period Ended 28 February 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Bristol Distilling Company Limited for the period ended 28 February 2018 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.
This report is made solely to the Board of Directors of The Bristol Distilling Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Bristol Distilling Company Limited and state those matters that we have agreed to state to the Board of Directors of The Bristol Distilling Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Bristol Distilling Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Bristol Distilling Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Bristol Distilling Company Limited. You consider that The Bristol Distilling Company Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of The Bristol Distilling Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
Chartered Certified Accountants
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP
Page 2 |
The Bristol Distilling Company Limited
(Registration number: 10638872)
Balance Sheet as at 28 February 2018
Note |
2018 |
|
Fixed assets |
||
Intangible assets |
|
|
Tangible assets |
|
|
|
||
Current assets |
||
Debtors |
|
|
Cash at bank and in hand |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
|
Net current assets |
|
|
Net assets |
|
|
Capital and reserves |
||
Called up share capital |
|
|
Share premium reserve |
|
|
Profit and loss account |
( |
|
Total equity |
|
For the financial period ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
The Bristol Distilling Company Limited
(Registration number: 10638872)
Balance Sheet as at 28 February 2018
Approved and authorised by the
.........................................
Mr Jake Black
Director
Page 4 |
The Bristol Distilling Company Limited
Notes to the Financial Statements for the Period from 24 February 2017 to 28 February 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
25% straight line basis |
Office Equipment |
25% straight line basis |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Website development |
25% straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Page 5 |
The Bristol Distilling Company Limited
Notes to the Financial Statements for the Period from 24 February 2017 to 28 February 2018
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Intangible assets |
Other intangible assets |
Total |
|
Cost or valuation |
||
Additions acquired separately |
|
|
At 28 February 2018 |
|
|
Amortisation |
||
Amortisation charge |
|
|
At 28 February 2018 |
|
|
Carrying amount |
||
At 28 February 2018 |
|
|
The aggregate amount of research and development expenditure recognised as an expense during the period is £
Page 6 |
The Bristol Distilling Company Limited
Notes to the Financial Statements for the Period from 24 February 2017 to 28 February 2018
Tangible assets |
Furniture, fittings and equipment |
Other property, plant and equipment |
Total |
|
Cost or valuation |
|||
Additions |
|
|
|
At 28 February 2018 |
|
|
|
Depreciation |
|||
Charge for the |
|
|
|
At 28 February 2018 |
|
|
|
Carrying amount |
|||
At 28 February 2018 |
- |
|
|
Debtors |
2018 |
|
Other debtors |
|
Total current trade and other debtors |
|
Creditors |
Note |
2018 |
|
Due within one year |
||
Trade creditors |
|
|
Other creditors |
|
|
|
Page 7 |