REGISTERED NUMBER: SC485211 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

The Drink Cabinet Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

112,368

119,896

CURRENT ASSETS

Debtors

5

150,036

179,076

Cash at bank

-

67,851

150,036

246,927

CREDITORS

Amounts falling due within one year

6

(252,750

)

(305,402

)

NET CURRENT LIABILITIES

(102,714

)

(58,475

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,654

61,421

CREDITORS

Amounts falling due after more than one year

7

(54,313

)

-

NET (LIABILITIES)/ASSETS

(44,659

)

61,421

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(44,759

)

61,321

(44,659

)

61,421

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

Ms L K Stewart - Director

1.	STATUTORY INFORMATION

The Drink Cabinet Ltd is a private company, limited by shares, domiciled in Scotland, registration number SC485211. The registered office is 29 Winchester Avenue, Denny, Scotland, FK6 6QE.

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.

During the year the company made a loss of £106,080 and at the balance sheet date its current liabilities exceeded its current assets by £102,714. The company meets its day to day working capital requirements through the continued support of bank and other loan funding. With this continued support the director is confident that the company will meet its cash flow requirements. The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future.

Turnover

Turnover represents net invoiced sales of goods and services in respect of agency and production house including event, brand management, creative and design services excluding value added tax. Sales are recognised at the point at which the goods are delivered or the service is complete.

Tangible fixed assets and depreciation

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.

Plant and machinery etc

-

33% on cost, 25% on reducing balance and 25% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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

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.

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

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

209,838

Additions

34,102

At 31 December 2024

243,940

DEPRECIATION

At 1 January 2024

89,942

Charge for year

41,630

At 31 December 2024

131,572

NET BOOK VALUE

At 31 December 2024

112,368

At 31 December 2023

119,896

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

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

23,995

DEPRECIATION

At 1 January 2024

5,439

Charge for year

3,711

At 31 December 2024

9,150

NET BOOK VALUE

At 31 December 2024

14,845

At 31 December 2023

18,556

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

91,048

146,941

Other debtors

58,988

32,135

150,036

179,076

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

49,853

113,333

Hire purchase contracts

4,685

16,881

Trade creditors

59,115

58,565

Taxation and social security

64,053

104,914

Other creditors

75,044

11,709

252,750

305,402

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

45,334

-

Hire purchase contracts

8,979

-

54,313

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

15,853

-

Hire purchase contracts

13,664

-

29,517

-

The director, Ms L Strewart, has provided a personal guarantee covering the bank overdraft facility available to the company

Hire purchase creditors are secured on the assets to which they relate.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the following amounts were advanced to director:-

L Stewart £38,503 (2023:- £5,744)