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COMPANY REGISTRATION NUMBER: 08347949
Kendal Brewing Co Ltd
Filleted Unaudited Financial Statements
31 July 2018
Kendal Brewing Co Ltd
Financial Statements
Period from 1 February 2017 to 31 July 2018
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Kendal Brewing Co Ltd
Statement of Financial Position
31 July 2018
31 Jul 18
31 Jan 17
Note
£
£
£
Current assets
Debtors
4
6,878
9,920
Cash at bank and in hand
479
--------
---------
6,878
10,399
Creditors: amounts falling due within one year
5
3,916
7,657
--------
---------
Net current assets
2,962
2,742
--------
--------
Total assets less current liabilities
2,962
2,742
--------
--------
Net assets
2,962
2,742
--------
--------
Kendal Brewing Co Ltd
Statement of Financial Position (continued)
31 July 2018
31 Jul 18
31 Jan 17
Note
£
£
£
Capital and reserves
Called up share capital
1
1
Profit and loss account
2,961
2,741
--------
--------
Shareholder funds
2,962
2,742
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the Period ending 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 November 2018 , and are signed on behalf of the board by:
Mr MA Pennington
Director
Company registration number: 08347949
Kendal Brewing Co Ltd
Notes to the Financial Statements
Period from 1 February 2017 to 31 July 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 19 Lowther Street, Kendal, Cumbria, LA9 4DH.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4. Debtors
31 Jul 18
31 Jan 17
£
£
Trade debtors
9,920
Other debtors
6,878
--------
--------
6,878
9,920
--------
--------
5. Creditors: amounts falling due within one year
31 Jul 18
31 Jan 17
£
£
Trade creditors
2,293
5,446
Corporation tax
52
685
Social security and other taxes
470
Other creditors
1,571
1,056
--------
--------
3,916
7,657
--------
--------
6. Director's advances, credits and guarantees
Mr M A Pennington is the managing director of Burgundy Wine Bars Limited. Kendal Brewing Company Limited received income from Burgundy Wine Bars Limited totalling £4,400 (2017: £12,040) during the year. At the year end Burgundy Wine Bars Limited owed Kendal Brewing Company Limited £6,852 (2017: £9,920). The director was not advanced any amounts during the period.
7. Related party transactions
No transactions with related parties, other than disclosed in the notes, were undertaken such as are required to be disclosed under the FRS102 Section 1A.