Company registration number 11329951 (England and Wales)
OTTER DISTILLERY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2022
PAGES FOR FILING WITH REGISTRAR
OTTER DISTILLERY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
OTTER DISTILLERY LIMITED
BALANCE SHEET
AS AT 30 APRIL 2022
30 April 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,684
11,920
Current assets
Stocks
9,535
10,259
Debtors
4
2,419
2,320
Cash at bank and in hand
638
1,579
12,592
14,158
Creditors: amounts falling due within one year
5
(28,059)
(30,981)
Net current liabilities
(15,467)
(16,823)
Total assets less current liabilities
(4,783)
(4,903)
Creditors: amounts falling due after more than one year
6
(3,167)
(4,083)
Net liabilities
(7,950)
(8,986)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(8,050)
(9,086)
Total equity
(7,950)
(8,986)
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 2022 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.
OTTER DISTILLERY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2022
30 April 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 January 2023 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 2022
- 3 -
1
Accounting policies
Company information
Otter Distillery Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Middle Barn Mathayes, Luppit, Honiton, United Kingdom, 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
therefore
do not include any adjustments that would result from a withdrawal of this
support
.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods
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.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
OTTER DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2021
15,964
Additions
388
At 30 April 2022
16,352
Depreciation
At 1 May 2021
4,044
Depreciation charged in the year
1,624
At 30 April 2022
5,668
Carrying amount
At 30 April 2022
10,684
At 30 April 2021
11,920
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
287
558
Other debtors
2,132
1,762
2,419
2,320
OTTER DISTILLERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2022
- 5 -
5
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans
1,000
917
Trade creditors
31
Taxation and social security
510
817
Other creditors
26,549
29,216
28,059
30,981
6
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
3,167
4,083
Creditors which fall due after five years are as follows:
2022
2021
£
£
Payable by instalments
-
83