THE NORTH BRITISH DISTILLERY COMPANY LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. THE NORTH BRITISH DISTILLERY COMPANY LIMITED 2016-08-24 → present
2. NORTH BRITISH DISTILLERY COMPANY LIMITED 1885-10-24 → 2016-08-24

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 102

Reporting scope

Standalone (parent only)

Auditor

Azets Audit Services

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“These financial statements have been prepared on a going concern basis. The Directors are required to state whether it is appropriate to adopt the going concern basis of accounting in preparing the financial statements, and to identify any material uncertainties as to the Company's ability to continue as a going concern over a period of at least 12 months from the date of approval of the financial statements. The period of management's going concern assessment is the period to 30th June 2026. The Company is profitable with end-of-year cash of £10.2m, net current assets of £37.5m and net assets of £64.0m. New make spirit selling prices have decreased into 2025 mainly due to lower costs from cereal and energy. The Company overdraft facility is subject to annual renewal in November each year and during 2024 this was not renewed for 2025 due to future cash flow forecasting not identifying a need for this facility. The Directors are satisfied that should this require to be renewed at the end of 2025 the bank has indicated its willingness to offer credit facilities to the business. In addition, several other banks have indicated their willingness to lend to the Company. If additional liquidity is required the Company also has a debt factoring agreement for sums due from Diageo, through Santander, which provides additional cash flows when required (based on a notice period of 24 hours). Under this facility, the Company can draw down cash receivable from Diageo in advance of the standard payment terms at a nominal cost. The Company has budgeted to increase capital investment, operational and compliance spend for both sites in 2025. This is designed to deliver improved distillery reliability and capacity as well as exceeding regulatory requirements and reducing our environmental impact. The Company has reviewed its forecasts and projections for the going concern assessment period to June 2026 and considered a series of downside scenarios. From the demand expected for new make and warehouse storage, the Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future; that is for the period to 30th June 2026. The Company therefore continues to adopt the going concern basis in preparing its financial statements.”

Significant events

• “In March 2025 the previously announced sale of the Famous Grouse brand by The Edrington Group has been passed by the UK CMA (Competitions and Market Authority). The likely impact of this is a reducing grain spirit requirement by Edrington from North British over the next three years.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

7

last 12 months

Capital events

0

last 24 months

Officers appointed

2

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -16.7%

  £115,519,000 → £96,196,000

• Cash

  +1,739.3%

  £555,000 → £10,208,000

• Net assets

  +2.9%

  £62,398,000 → £64,212,000

• Employees

  +3.8%

  239 → 248

• Operating profit

  -44.2%

  £10,691,000 → £5,970,000

• Profit before tax

  -42.9%

  £10,551,000 → £6,023,000

• Wages

  +9.2%

  £14,836,000 → £16,204,000

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers