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Financial Statements |
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for the Year Ended 30 April 2019 |
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for |
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Hunter Laing & Company Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 April 2019 |
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for |
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Hunter Laing & Company Limited |
Hunter Laing & Company Limited (Registered number: SC442464) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Hunter Laing & Company Limited |
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Company Information |
for the Year Ended 30 April 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Radleigh House |
1 Golf Road |
Clarkston |
Glasgow |
G76 7HU |
Hunter Laing & Company Limited (Registered number: SC442464) |
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Balance Sheet |
30 April 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Inventories |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Hunter Laing & Company Limited (Registered number: SC442464) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2019 |
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1. | STATUTORY INFORMATION |
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Hunter Laing & Company Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will |
be met as they fall due over a period of at least 12 months from the approval date of these financial statements. |
Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis. |
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Revenue |
Sales comprise revenue from the sale of Scotch whisky and other spirits, excluding value added tax and trade |
discounts, and is measured at the fair value of the consideration received or receivable. |
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Tangible fixed assets |
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Freehold property | - |
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Long leasehold | - |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Wood | - |
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Computer equipment | - |
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Inventories |
Inventories are valued at the lower of cost and net realisable value. Cost is defined as purchase price plus |
carrying costs. Net realisable value is based on estimated selling price, less the estimated costs of completion and |
selling. Provision is made for slow-moving or obsolete items where appropriate. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to |
the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hunter Laing & Company Limited (Registered number: SC442464) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective |
interest method, less any impairment. |
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Creditors |
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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | PROPERTY, PLANT AND EQUIPMENT |
Improvements |
Freehold | Long | to | Plant and |
property | leasehold | property | machinery |
£ | £ | £ | £ |
COST |
At 1 May 2018 |
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Additions |
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Disposals |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Hunter Laing & Company Limited (Registered number: SC442464) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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4. | PROPERTY, PLANT AND EQUIPMENT - continued |
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Fixtures |
and | Computer |
fittings | Wood | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2018 |
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Additions |
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Disposals |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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Eliminated on disposal |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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5. | FIXED ASSET INVESTMENTS |
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Investments are included at historical cost. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Hunter Laing & Company Limited (Registered number: SC442464) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2019 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2019 | 2018 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | - | 3,486,357 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank overdrafts |
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Bank loans |
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The Clydesdale Bank hold a floating charge over the assets and undertakings of the business and have a legal |
charge over the property owned by the company. |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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Hunter Laing & Company Limited is a trading subsidiary of parent company Hunter Laing Holdings Limited, |
whose registered office is situated at 16 Park Circus, Glasgow, Scotland, G3 6AX. |
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12. | APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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In common with many other businesses of our size and nature we use our auditors to prepare and submit returns |
to the tax authorities and assist with the preparation of the financial statements. |