LDC_SCOTLAND_LIMITED - Accounts

LDC SCOTLAND LIMITED - Company Information

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LDC SCOTLAND LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

Company Registration No. SC422793 (Scotland)

LDC SCOTLAND LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

LDC SCOTLAND LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

6,165

9,400

Tangible assets

6,377

1,095

12,542

10,495

Current assets

Stocks

978,021

606,114

Debtors

331,351

180,299

Cash at bank and in hand

45,306

61,793

1,354,678

848,206

Creditors: amounts falling due within one year

(565,610)

(189,377)

Net current assets

789,068

658,829

Total assets less current liabilities

801,610

669,324

Creditors: amounts falling due after more than one year

(219,386)

(734,200)

582,224

(64,876)

Capital and reserves

Called up share capital

Share premium account

399,998

Profit and loss account

182,224

(464,876)

Shareholders' funds

582,224

(64,876)

LDC SCOTLAND LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2016

- 2 -

For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 August 2017

Mr S Watson

Mr B Woods

Director

Company Registration No. SC422793

LDC SCOTLAND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts received from the sale of whisky & rum products, both domestically & globally. Sales are invoiced upon delivery of the products and are recorded net of VAT.

1.4

Intellectual Property

Intellectual property is valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments to the profit & loss over it's estimated useful lives, deemed to be 3 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% - 33.33% straight line

1.6

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value as follows:

Dry goods raw materials - purchase cost.

Wet goods raw materials - purchase cost.

Finished goods for resale - cost of direct materials, labour, plus attributable direct overheads.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

1.8

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

LDC SCOTLAND LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 4 -

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 October 2015

41,560

3,085

44,645

Additions

945

6,384

7,329

At 30 September 2016

42,505

9,469

51,974

Depreciation

At 1 October 2015

32,160

1,990

34,150

Charge for the year

4,180

1,102

5,282

At 30 September 2016

36,340

3,092

39,432

Net book value

At 30 September 2016

6,165

6,377

12,542

At 30 September 2015

9,400

1,095

10,495

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £263,553 (2015 - £14,814).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £49,386 (2015 - £64,200).

Share capital

2016

2015

Allotted, called up and fully paid

24,070 Ordinary Shares of 0.0001p each

Ultimate parent company

The ultimate parent company is Crucial Brands Holdings Ltd, a company registered in Scotland.