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Framework Brewery Limited
Registered Number:10240811
For the year ended 31 March 2018
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2018
Framework Brewery Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
3
As at 31 March 2018
Framework Brewery Limited
Statement of Financial Position
Registered Number :
10240811
£
£
2017
2018
Notes
Fixed assets
Property, plant and equipment
47,472
46,393
2
47,472
46,393
Current assets
Inventories
-
5,000
3
Trade and other receivables
6,636
17,499
4
1,968
Cash and cash equivalents
618
23,117
8,604
Trade and other payables: amounts falling due within one
year
(15,872)
(26,372)
5
(7,268)
(3,255)
Net current liabilities
Total assets less current liabilities
44,217
39,125
Trade and other payables: amounts falling due after more
than one year
(10,036)
(19,093)
6
25,124
Net assets
29,089
Capital and reserves
Called up share capital
62,747
47,060
Share premium account
2,940
2,940
Retained earnings
(40,563)
(20,911)
25,124
29,089
Shareholders' funds
For the year ended 31 March 2018 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
For the year ended 31 March 2018
Framework Brewery Limited
Statement of Financial Position Continued
Mr Michael Martin Willis Director
These financial statements were approved and authorised for issue by the Board on 12 November 2018 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2018
Framework Brewery Limited
Notes to the Financial Statements
Statutory Information
Framework Brewery Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 10240811.
Registered address:
The Old City Depot, 72-74
Friday Street
Leicester
England
LE1 3BW
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and
the Companies Act 2006.
The financial statements have been prepared under the historical costs convention as modified by the
revaluation of certain assets.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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6
For the year ended 31 March 2018
Framework Brewery Limited
Notes to the Financial Statements Continued
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12
'Other
Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the
contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts
presented in
the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is
an
intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic Financial Assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction
price
including transaction costs and are subsequently carried at amortised cost using the effective interest method
unless
the arrangement constitutes a financing transaction, where the transaction is measured at the present value of
the
future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year
are
not amortised.
Classification of Financial Liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements
entered into. An equity instrument is any contract that evidences a residual interest in the assets of the
company
after deducting all of its liabilities.
Basic Financial Liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference
shares
that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a
financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade
creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business
from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If
not,
they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and
subsequently measured at amortised cost using the effective interest method.
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7
For the year ended 31 March 2018
Framework Brewery Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Plant and
Machinery
Leasehold
improvements
£
£
£
Cost or
valuation
At 01 April 2017
48,833
42,179
6,654
11,836
8,881
2,955
Additions
At 31 March 2018
9,609
51,060
60,669
Provision for depreciation and impairment
At 01 April 2017
2,440
2,108
332
Charge for year
10,757
8,902
1,855
At 31 March 2018
13,197
11,010
2,187
At 31 March 2018
Net book value
7,422
40,050
47,472
At 31 March 2017
6,322
40,071
46,393
3. Inventories
2017
2018
£
£
Stocks
5,000
-
4. Trade and other receivables
2017
2018
£
£
Trade debtors
13,141
6,636
Other debtors
4,358
-
6,636
17,499
5. Trade and other payables: amounts falling due within one year
2017
2018
£
£
Trade creditors
3,869
3,903
Taxation and social security
5,042
434
Other creditors
17,461
11,535
26,372
15,872
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8
For the year ended 31 March 2018
Framework Brewery Limited
Notes to the Financial Statements Continued
6. Trade and other payables: amounts falling due after more than one year
2017
2018
£
£
Other creditors
19,093
10,036
7. Directors advances and guarantees
Included within creditors due within one year are amounts due to directors of £2,217 which are interest free and
repayable on demand and £13,735 which are repayable by instalments and bear interest at 5% per annum.
Included within creditors due after more than one year are amounts due to directors of £19,093 which are
repayable by instalments and bear interest at 5% per annum.
8. Average number of persons employed
During the year the average number of employees was 6 (2017 : 5)
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