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REGISTERED NUMBER: SC388894 (Scotland)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

Rumba Kazz Limited

Rumba Kazz Limited (Registered number: SC388894)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Rumba Kazz Limited

COMPANY INFORMATION
For The Year Ended 30 November 2023







DIRECTOR: L Aseni





REGISTERED OFFICE: Flat 1/2
6 Nursery Street
Glasgow
G41 2PH





REGISTERED NUMBER: SC388894 (Scotland)





ACCOUNTANTS: Burgoyne Carey
Chartered Accountants
Pavilion 2
3 Dava Street
Broomloan Road
Glasgow
G51 2JA

Rumba Kazz Limited (Registered number: SC388894)

BALANCE SHEET
30 November 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 959,973 982,403

CURRENT ASSETS
Stocks 85,049 87,997
Debtors 5 35,682 14,740
Cash at bank and in hand 107,836 1,839
228,567 104,576
CREDITORS
Amounts falling due within one year 6 (752,337 ) (600,317 )
NET CURRENT LIABILITIES (523,770 ) (495,741 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,203

486,662

CREDITORS
Amounts falling due after more than one
year

7

(426,027

)

(480,906

)
NET ASSETS 10,176 5,756

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 10,175 5,755
10,176 5,756

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Rumba Kazz Limited (Registered number: SC388894)

BALANCE SHEET - continued
30 November 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 director and authorised for issue on 1 July 2024 and were signed by:





L Aseni - Director


Rumba Kazz Limited (Registered number: SC388894)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Rumba Kazz 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 represents amounts invoiced during the year net, exclusive of Value Added Tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on reducing balance and 20% on reducing balance

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 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.

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 employees' pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 28 ) .

Rumba Kazz Limited (Registered number: SC388894)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2022 1,052,541 107,928 1,160,469
Additions - 7,364 7,364
At 30 November 2023 1,052,541 115,292 1,167,833
DEPRECIATION
At 1 December 2022 105,260 72,806 178,066
Charge for year 21,052 8,742 29,794
At 30 November 2023 126,312 81,548 207,860
NET BOOK VALUE
At 30 November 2023 926,229 33,744 959,973
At 30 November 2022 947,281 35,122 982,403

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by associates - 11,154
Other debtors 35,682 3,586
35,682 14,740

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 56,103 45,079
Trade creditors 76,257 75,488
Amounts owed to associates 355,232 232,306
Taxation and social security 142,734 137,868
Other creditors 122,011 109,576
752,337 600,317

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 372,402 410,781
Other creditors 53,625 70,125
426,027 480,906

Rumba Kazz Limited (Registered number: SC388894)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 November 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than
five years 178,904 207,423
Other loans falling due in
more than 5 years - 4,125
178,904 211,548

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 18,649 7,625
Bank loans 409,856 448,235
Other loans 70,125 86,625
498,630 542,485

In return for a £670,000 15 year term loan HSBC Bank Plc have a security over property at 62 Trongate.
In return for a £165,000 15 year term loan Tennent Caledonian Breweries Wholesale Limited also have a security over property at 62 Trongate.

Both HSBC Bank Plc and Tennent Caledonian Breweries Wholesale Limited have a floating charge over the all assets and undertakings of the company.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits from a director subsisted during the years ended 30 November 2023 and 30 November 2022:

2023 2022
£    £   
L Aseni
Balance outstanding at start of year (90,127 ) (156,053 )
Amounts advanced 7,749 84,136
Amounts repaid (17,739 ) (18,210 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (100,117 ) (90,127 )

A loan of £80,000 was advanced to the Director L Aseni during 2022. The loan is repayable over 10 years and interest of 3% pa is charged.