REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
LOCH NESS BEVERAGES LTD. |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 June 2023 |
for |
LOCH NESS BEVERAGES LTD. |
LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
Provisions for liabilities | ( |
) |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 9 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | Statutory information |
Loch Ness Beverages Ltd. is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.The policies adopted for the recognition of turnover are as follows: |
Sale of goods |
Turnover from the sale of goods supplied is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Plant and machinery - 33.3% straight line |
Fixtures and fittings - 33.3% straight line |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
2. | Accounting policies - continued |
Taxation |
Current taxation represents the amount of taxation payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred taxation represents the future taxation consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, withcertain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved taxation losses and other deferred taxation assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred taxation liabilities or other future taxable profits. |
Deferred taxation is measured using the taxation rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. |
Pension costs and other post-retirement benefits |
The company operates money purchase (defined contribution) pension scheme. Contributions are charged against profits on the amounts payable for the year. |
Interest income |
Interest income is recognised on an accruals basis. |
Debtors and creditor receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Bank and cash |
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
5. | Stocks |
2023 | 2022 |
£ | £ |
Stocks |
LOCH NESS BEVERAGES LTD. (REGISTERED NUMBER: SC588513) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security | ( |
) |
Other creditors |
8. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Bank loans |
9. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |