Company Registration No. 11329951 (England and Wales)
OTTER DISTILLERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
PAGES FOR FILING WITH REGISTRAR
OTTER DISTILLERY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
OTTER DISTILLERY LIMITED
BALANCE SHEET
AS AT 30 APRIL 2020
30 April 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
13,521
14,863
Current assets
Stocks
2,300
12,575
Debtors
4
2,858
826
Cash at bank and in hand
2,030
5,284
7,188
18,685
Creditors: amounts falling due within one year
5
(36,411)
(42,252)
Net current liabilities
(29,223)
(23,567)
Net liabilities
(15,702)
(8,704)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(15,802)
(8,804)
Total equity
(15,702)
(8,704)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 28 April 2021 and are signed on its behalf by:
Mr D F A McCaig
Director
Company Registration No. 11329951
OTTER DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2020
- 2 -
1
Accounting policies
Company information
Otter Distillery Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Mathayes, Luppitt, Honiton, Devon, EX14 4SA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company meets its day to day working capital requirements through continued financial support from the directors and participators. The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows.
true
On the basis of continued support from its directors and participators, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of this loan.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services
provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost, net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% per annum on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Stocks
Stock is valued at the lower of cost, including direct labour and attributable overheads, and net realisable value.
OTTER DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2019
15,714
Additions
250
At 30 April 2020
15,964
Depreciation
At 1 May 2019
851
Depreciation charged in the year
1,592
At 30 April 2020
2,443
Carrying amount
At 30 April 2020
13,521
At 30 April 2019
14,863
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
279
Other debtors
2,579
826
2,858
826
OTTER DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2020
- 4 -
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
2,761
271
Other creditors
33,650
41,981
36,411
42,252