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REGISTERED NUMBER: 12326026 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 November 2022

for

CANE & ABLE SPIRITS LIMITED

CANE & ABLE SPIRITS LIMITED (REGISTERED NUMBER: 12326026)

Contents of the Financial Statements
for the year ended 30 November 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CANE & ABLE SPIRITS LIMITED

Company Information
for the year ended 30 November 2022







Directors: Mr L M Smith
Mrs T M Smith





Registered office: Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE





Registered number: 12326026 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Juniper House
Warley Hill Business Park
The Drive
Brentwood
Essex
CM13 3BE

CANE & ABLE SPIRITS LIMITED (REGISTERED NUMBER: 12326026)

Statement of Financial Position
30 November 2022

2022 2021
Notes £    £    £    £   
Fixed assets
Tangible assets 4 2,328 1,400

Current assets
Stocks 71,090 106,963
Debtors 5 9,477 11,456
Cash at bank 6,565 16,796
87,132 135,215
Creditors
Amounts falling due within one year 6 241,715 151,559
Net current liabilities (154,583 ) (16,344 )
Total assets less current liabilities (152,255 ) (14,944 )

Creditors
Amounts falling due after more than one
year

7

100,000

100,000
Net liabilities (252,255 ) (114,944 )

Capital and reserves
Called up share capital 8 100 100
Retained earnings (252,355 ) (115,044 )
Shareholders' funds (252,255 ) (114,944 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

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 23 November 2023 and were signed on its behalf by:




Mr L M Smith - Director


CANE & ABLE SPIRITS LIMITED (REGISTERED NUMBER: 12326026)

Notes to the Financial Statements
for the year ended 30 November 2022


1. Statutory information

Cane & Able Spirits Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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 - 20% 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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. Employees and directors

The average number of employees during the year was 2 (2021 - 2 ) .

CANE & ABLE SPIRITS LIMITED (REGISTERED NUMBER: 12326026)

Notes to the Financial Statements - continued
for the year ended 30 November 2022


4. Tangible fixed assets
Computer
equipment
£   
Cost
At 1 December 2021 1,795
Additions 1,358
At 30 November 2022 3,153
Depreciation
At 1 December 2021 395
Charge for year 430
At 30 November 2022 825
Net book value
At 30 November 2022 2,328
At 30 November 2021 1,400

5. Debtors: amounts falling due within one year
2022 2021
£    £   
Trade debtors 8,214 7,577
Other debtors 1,263 3,879
9,477 11,456

6. Creditors: amounts falling due within one year
2022 2021
£    £   
Trade creditors 15,078 3,922
Other creditors 226,637 147,637
241,715 151,559

7. Creditors: amounts falling due after more than one year
2022 2021
£    £   
Other creditors 100,000 100,000

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary 1 100 100

CANE & ABLE SPIRITS LIMITED (REGISTERED NUMBER: 12326026)

Notes to the Financial Statements - continued
for the year ended 30 November 2022


9. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 November 2022 and 30 November 2021:

2022 2021
£    £   
Mr L M Smith
Balance outstanding at start of year (145,587 ) (106,587 )
Amounts advanced (79,000 ) -
Amounts repaid - (39,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (224,587 ) (145,587 )