Company No:
Contents
Note | 30.11.2022 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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832,787 | ||
Current assets | ||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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376,196 | ||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 360,678 | |
Total assets less current liabilities | 1,193,465 | |
Net assets |
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Capital and reserves | ||
Called-up share capital | 6 |
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Share premium account |
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Profit and loss account | (
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Modern Rum Co Ltd (registered number:
L J Hayes
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Modern Rum Co Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 15 Ebers Road, Nottingham, NG3 5DY, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Income Statement in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Land and buildings |
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Plant and machinery |
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Computer equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Period from 12.11.2021 to 30.11.2022 |
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Number | |
Monthly average number of persons employed by the Company during the period, including the director |
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Land and buildings | Plant and machinery | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 12 November 2021 |
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Additions |
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At 30 November 2022 |
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Accumulated depreciation | |||||||
At 12 November 2021 |
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Charge for the financial period |
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At 30 November 2022 |
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Net book value | |||||||
At 30 November 2022 |
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30.11.2022 | |
£ | |
Prepayments |
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VAT recoverable |
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30.11.2022 | |
£ | |
Accruals |
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Other taxation and social security |
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Other creditors |
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30.11.2022 | |
£ | |
Allotted, called-up and fully-paid | |
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