Rude Boy Brands Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC683994 (Scotland)

Rude Boy Brands Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

G A L Partridge

REGISTERED OFFICE:

9 Ainslie Place

Edinburgh

EH3 6AT

REGISTERED NUMBER:

SC683994 (Scotland)

ACCOUNTANTS:

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

BANKERS:

Barclays

Unit 2, 10-15 Princes Street

Edinburgh

EH2 2AN

FIXED ASSETS

Tangible assets

4

2,410

-

CURRENT ASSETS

Stocks

170,035

1,408

Debtors

5

145,023

2,173

Cash at bank and in hand

474,949

20,404

790,007

23,985

CREDITORS

Amounts falling due within one year

6

774,196

31,550

NET CURRENT ASSETS/(LIABILITIES)

15,811

(7,565

)

TOTAL ASSETS LESS CURRENT LIABILITIES

18,221

(7,565

)

PROVISIONS FOR LIABILITIES

458

-

NET ASSETS/(LIABILITIES)

17,763

(7,565

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

17,663

(7,665

)

17,763

(7,565

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 May 2023 and were signed by:

G A L Partridge - Director

1.	STATUTORY INFORMATION

Rude Boy Brands Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition

Turnover represents net invoiced sales of tonic wines excluding value added tax. Revenue is recognised on delivery to the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Inventories

Inventories have been valued at the lower of cost and estimated selling price less costs to sell.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are initially recognised at transaction value and subsequently

measured at their settlement value.

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Provision for liability

Provisions are recognised where the company has a present obligation as a result of a past event, it is probable the company will be required to settle the obligations, and a reliable estimate can be made of the obligations. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Going concern

The financial statements have been prepared on the going concern principle, which assumes that the company will continue to trade in the foreseeable future. The director's going concern assessment includes the likely impact of Covid 19 for a period of at least 12 months from the date of signature of these accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,013

At 31 December 2022

3,013

DEPRECIATION

Charge for year

603

At 31 December 2022

603

NET BOOK VALUE

At 31 December 2022

2,410

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

123,308

-

Other debtors

21,715

2,173

145,023

2,173

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

100,111

-

Taxation and social security

4,000

-

Other creditors

670,085

31,550

774,196

31,550

Included in other creditors is a balance due on the director's current account. This balance is unsecured, interest free and has no fixed term of repayment

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2022

2021

£

£

Within one year

16,800

6,300

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2022 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Whitelaw Wells

9 Ainslie Place

Edinburgh

Midlothian

EH3 6AT

12 May 2023