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REGISTERED NUMBER: SC632819 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

CANE & GRAIN INTERNATIONAL LTD

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

CANE & GRAIN INTERNATIONAL LTD

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mrs Kathrine Woods
Mr Brian Woods





REGISTERED OFFICE: 49 Marywood Square
Glasgow
G41 2BN





REGISTERED NUMBER: SC632819 (Scotland)





ACCOUNTANTS: McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Balance Sheet
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,003 1,408
2,003 1,408

CURRENT ASSETS
Stocks 1,650,516 1,164,288
Debtors 6 1,266,953 673,057
Cash at bank 1,007,205 1,792,374
3,924,674 3,629,719
CREDITORS
Amounts falling due within one year 7 813,743 1,155,753
NET CURRENT ASSETS 3,110,931 2,473,966
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,112,934

2,475,374

CREDITORS
Amounts falling due after more than one
year

8

-

31,667
NET ASSETS 3,112,934 2,443,707

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 3,112,932 2,443,705
SHAREHOLDERS' FUNDS 3,112,934 2,443,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Balance Sheet - continued
30 June 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2023 and were signed on its behalf by:





Mr Brian Woods - Director


CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Cane & Grain International 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is measured at the fair value of the consideration received or receivable, net of discount and value added taxes. Turnover includes revenue earned from the sale of goods, the goods being casks and bottled whisky and rum.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Trade and other debtors/creditors

Trade and other debtors are recognised initially at transaction price less attributable transaction costs. Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade debtors. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

Cash and cash equivalents

Cash and cash equivalents comprise cash balances and call deposits

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised within profit or loss.

For financial assets that are measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated future cash flows discounted at the assets original effective interest rate. If a financial asset has a variable interest rate, the discount rate of measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the assets carrying amount and the best estimate of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Provisions
A provision is recognised when the company has a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 July 2022
and 30 June 2023 340
AMORTISATION
At 1 July 2022
and 30 June 2023 340
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 July 2022 2,101
Additions 1,923
At 30 June 2023 4,024
DEPRECIATION
At 1 July 2022 693
Charge for year 1,328
At 30 June 2023 2,021
NET BOOK VALUE
At 30 June 2023 2,003
At 30 June 2022 1,408

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 573,695 472,301
Amounts owed by group undertakings 586,646 1,646
Directors' current accounts 85,808 43,841
VAT 20,804 58,255
Prepayments - 97,014
1,266,953 673,057

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts (see note 9) - 10,000
Trade creditors 388,421 484,815
Tax 315,233 593,552
Social security and other taxes 2,012 1,259
Other creditors 44,680 25,591
Accrued expenses 63,397 40,536
813,743 1,155,753

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans (see note 9) - 31,667

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

9. LOANS

An analysis of the maturity of loans is given below:

30.6.23 30.6.22
£    £   
Amounts falling due within one year or on demand:
Bank loans - 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years - 20,000

Amounts falling due between two and five years:
Bank loans - 2-5 years - 11,667

10. CALLED UP SHARE CAPITAL




Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: £    £   
100 A Ordinary £0.01 1 1
90 B Ordinary £0.01 1 1
10 C Ordinary £0.01 - -
2 2

10 B Ordinary shares of £0.01 per share were reclassified as 10 C Ordinary shares of £0.01 each on 28th March 2023.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Mr Brian Woods
Balance outstanding at start of year 43,841 (37,263 )
Amounts advanced 283,132 81,104
Amounts repaid (276,711 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 50,262 43,841

CANE & GRAIN INTERNATIONAL LTD (REGISTERED NUMBER: SC632819)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mrs Kathrine Woods
Balance outstanding at start of year - -
Amounts advanced 35,546 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 35,546 -

12. RELATED PARTY DISCLOSURES

Director's remuneration in the year totalled £21,891
Director's pension payments in the year totalled £77,500

13. ULTIMATE CONTROLLING PARTY

Woods & Co Family Holdings Limited became 100% owners of the share capital of Cane and Grain (International) Limited in a share for share exchange on 30/03/2023.

Brian and Kathrine Woods own 50% each of Woods and Co Family Holdings Limited and are therefore the ultimate controlling party.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Cane & Grain International Ltd

The following reproduces the text of the report prepared for the directors 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 Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cane & Grain International Ltd for the year ended 30 June 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Cane & Grain International Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cane & Grain International Ltd and state those matters that we have agreed to state to the Board of Directors of Cane & Grain International Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cane & Grain International Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cane & Grain International Ltd. You consider that Cane & Grain International Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cane & Grain International Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






McAllisters
Paxton House
11 Woodside Crescent
Charing Cross
Glasgow
G3 7UL


17 November 2023