Registered number: SC483145 | ||||||||
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FOR THE YEAR ENDED 31/12/2019 | ||||||||
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Prepared By: | ||||||||
MacMillan Craig | ||||||||
Chartered Accountants | ||||||||
Festival Business Centre | ||||||||
150 Brand Street | ||||||||
Glasgow | ||||||||
G51 1DH |
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R&B Distillers Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2019 | ||||||||
DIRECTORS | ||||||||
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REGISTERED OFFICE | ||||||||
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COMPANY DETAILS | ||||||||
Private company limited by shares registered in SC - Scotland, registered number SC483145 | ||||||||
ACCOUNTANTS | ||||||||
MacMillan Craig | ||||||||
Chartered Accountants | ||||||||
Festival Business Centre | ||||||||
150 Brand Street | ||||||||
Glasgow | ||||||||
G51 1DH |
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R&B Distillers Limited | ||||||||
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ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/12/2019 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Accountants' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
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R&B Distillers Limited | ||||||||
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BALANCE SHEET AT
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2019 | 2018 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Intangible assets | 3 |
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Tangible assets | 4 |
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Investment Assets | 5 |
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CURRENT ASSETS | ||||||||||
Stock |
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Debtors | 7 |
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Cash at bank and in hand |
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2,165,835 | 1,146,643 | |||||||||
CREDITORS: Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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826,028 | ||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS: Amounts falling due after more than one year | 9 | 7,154,838 | 9,617,936 | |||||||
NET ASSETS / (LIABILITIES) |
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CAPITAL AND RESERVES | ||||||||||
Called up share capital | 11 |
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Profit and loss account | (3,194,387) | (2,055,303) | ||||||||
SHAREHOLDERS' FUNDS |
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Approved by the board on
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............................. | ||||||||||
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Director | ||||||||||
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R&B Distillers Limited | ||||||||
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NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/12/2019 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting | ||||||||
The accounts have been prepared under the historical cost convention. | ||||||||
The accounts have been prepared in accordance with FRS102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 . |
1b. Depreciation | ||||||||
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Land And Buildings | straight line 2 % | |||||||
Plant And Machinery | straight line 5 % | |||||||
Fixtures And Fittings | straight line 25 % | |||||||
Equipment | straight line 33 % |
1c. Stocks | ||||||||
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs. | ||||||||
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs. |
1d. Pension Costs | ||||||||
The company operates a defined contribution pension scheme. The pension charge represents the amounts payable by the company to the fund in respect of the year. |
1e. Foreign Currency | ||||||||
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of the exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at the historic cost in a foreign currency are not retranslated. |
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R&B Distillers Limited | ||||||||
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1f. Turnover | ||||||||
Turnover represents the invoiced value of goods and services supplied by the company, net of value added tax and trade discounts. |
1g. Government Grants | ||||||||
Revenue grants are credited to income in the appropriate period to match the relevant expenditure. Capital grants are amortised in line with the depreciation of the relevant assets. |
1h. Investments | ||||||||
Fixed asset investments are shown at cost less amounts written off. | ||||||||
Provisions are made for permanent fluctuations in value. |
2. EMPLOYEES | ||||||
2019 | 2018 | |||||
No. | No. | |||||
Average number of employees |
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21 | ||||
3. INTANGIBLE FIXED ASSETS | ||||
Patents | Total | |||
£ | £ | |||
Cost | ||||
At 01/01/2019 | 2,381 | 2,381 | ||
At 31/12/2019 | 2,381 | 2,381 | ||
Depreciation | ||||
At 01/01/2019 | 1,429 | 1,429 | ||
For the year | 476 | 476 | ||
At 31/12/2019 | 1,905 | 1,905 | ||
Net Book Amounts | ||||
At 31/12/2019 |
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At 31/12/2018 |
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R&B Distillers Limited | ||||||||
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4. TANGIBLE FIXED ASSETS | ||||||||||
Land And | Plant and | Fixtures | ||||||||
Buildings | Machinery | and Fittings | Equipment | Total | ||||||
£ | £ | £ | £ | £ | ||||||
Cost | ||||||||||
At 01/01/2019 | 6,004,589 | 2,007,755 | 147,579 | 10,891 | 8,170,814 | |||||
Additions | 1,008,013 | 254,679 | 344 | 4,599 | 1,267,635 | |||||
At 31/12/2019 | 7,012,602 | 2,262,434 | 147,923 | 15,490 | 9,438,449 | |||||
Depreciation | ||||||||||
At 01/01/2019 | 144,782 | 237,863 | 53,589 | 5,961 | 442,195 | |||||
For the year | 140,252 | 259,814 | 36,981 | 4,686 | 441,733 | |||||
At 31/12/2019 | 285,034 | 497,677 | 90,570 | 10,647 | 883,928 | |||||
Net Book Amounts | ||||||||||
At 31/12/2019 |
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8,554,521 | |||||
At 31/12/2018 |
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7,728,619 | |||||
5. FINANCIAL ASSETS | |||||||||
Other | |||||||||
Investments | Total | ||||||||
£ | £ | ||||||||
Cost | |||||||||
At 01/01/2019 | 12,034 | 12,034 | |||||||
At 31/12/2019 | 12,034 | 12,034 | |||||||
Amortisation | |||||||||
Net Book Amounts | |||||||||
At 31/12/2019 | 12,034 | 12,034 | |||||||
At 31/12/2018 | 12,034 | 12,034 | |||||||
6. STOCK | 2019 | 2018 | ||||
£ | £ | |||||
Stock comprises: | ||||||
Stock |
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R&B Distillers Limited | ||||||||
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7. DEBTORS | 2019 | 2018 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 197,669 | 38,335 | ||||||
VAT | 22,193 | 26,200 | ||||||
Other debtors | 120,000 | 120,000 | ||||||
Prepayments | 11,895 | 4,886 | ||||||
351,757 | 189,421 | |||||||
Amounts falling due over more than one year | ||||||||
Called Up Share Capital Not Paid Not Expressed As Current Asset | 295,000 | - | ||||||
295,000 | - | |||||||
646,757 | 189,421 | |||||||
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
PAYE control | 34,424 | 22,597 | ||||||
Directors current account | 398 | 398 | ||||||
Hire purchase | 9,841 | 6,480 | ||||||
Trade creditors | 357,209 | 232,831 | ||||||
Other creditors | 30,347 | 30,347 | ||||||
Accruals | 25,183 | 12,949 | ||||||
Amounts due to group companies | 15,013 | 15,013 | ||||||
472,415 | 320,615 | |||||||
9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
Hire purchase >1yr | - | 9,841 | ||||||
Other creditors > 1yr | 757,871 | 788,218 | ||||||
Due to group companies >1yr | 6,396,967 | 8,819,877 | ||||||
7,154,838 | 9,617,936 | |||||||
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R&B Distillers Limited | ||||||||
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10. SECURED CREDITORS | ||||||||
2019 | 2018 | |||||||
£ | £ | |||||||
Amount of other creditors which are secured | (6,396,967) | (8,819,877) | ||||||
Salvators Lending Limited, a group undertaking, holds a floating charge over the whole property, assets and rights of the company, as security for the loan granted. | ||||||||
11. SHARE CAPITAL | 2019 | 2018 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
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6,300,000 | 1,005,000 | ||||||
6,300,000 | 1,005,000 | |||||||
New shares issued during period: | ||||||||
5,295,000
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5,295,000 | |||||||
5,295,000 | 1,005,000 | |||||||
12. CONTROLLING PARTY | ||||||||
The company's parent company is Chanrossa Group Limited, a company registered in Scotland. | ||||||||