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REGISTERED NUMBER: SC628909 (Scotland)

















Abridged Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Sup Drinks Ltd.

Sup Drinks Ltd. (Registered number: SC628909)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Sup Drinks Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTOR: C Grierson





REGISTERED OFFICE: 14 Rutland Square
Edinburgh
Midlothian
EH1 2BD





REGISTERED NUMBER: SC628909 (Scotland)





ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW

Sup Drinks Ltd. (Registered number: SC628909)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £   
CURRENT ASSETS
Stocks 4,500 -
Debtors 4 20,692 15,191
Cash at bank and in hand 446 7,550
25,638 22,741
CREDITORS
Amounts falling due within one year 5 70,454 60,723
NET CURRENT LIABILITIES (44,816 ) (37,982 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(44,816

)

(37,982

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (44,916 ) (38,082 )
(44,816 ) (37,982 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 March 2025 and were signed by:





C Grierson - Director


Sup Drinks Ltd. (Registered number: SC628909)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Sup Drinks 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.

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. Turnover is attributable to the company's principal activity of wholesale of wine, beer, spirits and other alcoholic beverages.

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
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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 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.

Sup Drinks Ltd. (Registered number: SC628909)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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.

Going concern
These accounts have been prepared on the going concern basis, on the understanding that the director will continue to support the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 20,692 15,191

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 2,581 2,581
Other creditors 67,873 58,142
70,454 60,723

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
C Grierson
Balance outstanding at start of year 15,192 (2,135 )
Amounts advanced 9,380 17,327
Amounts repaid (3,880 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 20,692 15,192

7. RELATED PARTY DISCLOSURES

At the balance sheet date York Place Property Company Limited, a company in which C Grierson director, is also a director in,was owed £48,258 (2023: £42,648) by the company.

At the balance sheet date Nightcap Scotland Ltd, a company in which C Grierson, director, is also a director in, was owed £3,000 ( 2023 £3,000) by the company.