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REGISTERED NUMBER: SC483145 (Scotland)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

R&B Distillers Limited

R&B Distillers Limited (Registered number: SC483145)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R&B Distillers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: W Dobbie
A Day
W E Dobbie
N Gillies
S Blues





REGISTERED OFFICE: 23 Manor Place
Edinburgh
EH3 7DX





REGISTERED NUMBER: SC483145 (Scotland)





ACCOUNTANTS: MacMillan Craig
Chartered Accountants
100 Brand Street
Glasgow
G51 1DG

R&B Distillers Limited (Registered number: SC483145)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 34,095 66,698
Tangible assets 5 11,261,569 10,426,984
Investments 6 52 12,034
11,295,716 10,505,716

CURRENT ASSETS
Stocks 3,829,014 2,931,135
Debtors 7 5,708,531 8,556,054
Cash at bank and in hand 1,180,550 1,938,228
10,718,095 13,425,417
CREDITORS
Amounts falling due within one year 8 1,120,498 3,316,406
NET CURRENT ASSETS 9,597,597 10,109,011
TOTAL ASSETS LESS CURRENT
LIABILITIES

20,893,313

20,614,727

CREDITORS
Amounts falling due after more than one
year

9

928,672

837,735
NET ASSETS 19,964,641 19,776,992

CAPITAL AND RESERVES
Called up share capital 18,411,490 18,411,490
Share premium 5,444,118 5,444,118
Retained earnings (3,890,967 ) (4,078,616 )
SHAREHOLDERS' FUNDS 19,964,641 19,776,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

R&B Distillers Limited (Registered number: SC483145)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





W Dobbie - Director


R&B Distillers Limited (Registered number: SC483145)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

R&B Distillers Limited 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost and 2% on cost
Plant and machinery etc - 25% on cost, 20% on cost, 10% on cost, 7% on cost and 5% on cost

In previous years, distillery equipment was depreciated over 20 years and casks over 3 years. During the year it was deemed more appropriate to depreciate distillery equipment over 15 years and casks over 20 years. This change in accounting estimates resulted in a cumulative reduction in the depreciation charge of £752,844, recognised in the current year.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost includes all costs of purchase, costs of conversion and costs incurred in bringing the stock to its present location and condition.

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.


R&B Distillers Limited (Registered number: SC483145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 (2022 - 38 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2023
and 31 December 2023 113,543
AMORTISATION
At 1 January 2023 46,845
Charge for year 32,603
At 31 December 2023 79,448
NET BOOK VALUE
At 31 December 2023 34,095
At 31 December 2022 66,698

R&B Distillers Limited (Registered number: SC483145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 9,207,945 3,670,342 12,878,287
Additions 163,681 673,695 837,376
Disposals - (5,800 ) (5,800 )
At 31 December 2023 9,371,626 4,338,237 13,709,863
DEPRECIATION
At 1 January 2023 720,940 1,730,363 2,451,303
Charge for year 306,016 (309,025 ) (3,009 )
At 31 December 2023 1,026,956 1,421,338 2,448,294
NET BOOK VALUE
At 31 December 2023 8,344,670 2,916,899 11,261,569
At 31 December 2022 8,487,005 1,939,979 10,426,984

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 165,422
At 31 December 2023 165,422
DEPRECIATION
Charge for year 11,028
At 31 December 2023 11,028
NET BOOK VALUE
At 31 December 2023 154,394

R&B Distillers Limited (Registered number: SC483145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 12,034
Additions 51
Disposals (12,033 )
At 31 December 2023 52
NET BOOK VALUE
At 31 December 2023 52
At 31 December 2022 12,034

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 750,473 696,406
Amounts owed by group undertakings 35,767 -
Other debtors 44,866 6,505
VAT - 26,188
Called up share capital not paid 4,861,066 7,816,924
Prepayments 16,359 10,031
5,708,531 8,556,054

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 1,551 2,281,006
Hire purchase contracts 39,669 -
Trade creditors 257,558 499,154
Amounts owed to group undertakings 63,393 232,731
Social security and other taxes 58,192 66,008
VAT 43,406 -
Other creditors 69,767 34,683
Directors' current accounts 4,538 5,707
Accruals and deferred income 582,424 197,117
1,120,498 3,316,406

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Hire purchase contracts 125,619 -
Other creditors 803,053 837,735
928,672 837,735

R&B Distillers Limited (Registered number: SC483145)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 1,551 2,281,006

Santander UK PLC holds a floating charge (the senior floating charge) over the whole of the property (including uncalled capital), as security for the loan granted.

11. RELATED PARTY DISCLOSURES

The ultimate controlling party is W Dobbie.

The company is a subsidiary of Chanrossa Group Limited, a company registered in Scotland.