REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31st March 2023 |
for |
Hambleton Brewery Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
For The Year Ended 31st March 2023 |
for |
Hambleton Brewery Limited |
Hambleton Brewery Limited (Registered number: 11821466) |
Contents of the Financial Statements |
For The Year Ended 31st March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Hambleton Brewery Limited |
Company Information |
For The Year Ended 31st March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
4 Old Market Place |
Ripon |
North Yorkshire |
HG4 1EQ |
Hambleton Brewery Limited (Registered number: 11821466) |
Balance Sheet |
31st March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
CURRENT ASSETS |
Stocks |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
Hambleton Brewery Limited (Registered number: 11821466) |
Balance Sheet - continued |
31st March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Hambleton Brewery Limited (Registered number: 11821466) |
Notes to the Financial Statements |
For The Year Ended 31st March 2023 |
1. | ACCOUNTING POLICIES |
General information and basis of preparing the financial statements |
(a) General information and basis of preparation |
Hambleton Brewery Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on General Information page of these financial statements. |
The financial statements have been prepared in accordance with the provisions of section 1A 'small entities' of Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
The significant accounting policies applied in the preparation of these financial statements are set out below. |
(b) Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
Buildings | straight line over 50 years |
Plant and machinery | 10% reducing balance |
Motor vehicles | 20% reducing balance |
Office and computer equipment | 20% reducing balance |
(c) Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Work-in-progress and machined stock held for sale includes an appropriate proportion of overheads. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
(d) Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
(e) Loans and borrowings |
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. |
Hambleton Brewery Limited (Registered number: 11821466) |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2023 |
(f) Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
(g) Provisions |
Provisions are recognised when the limited company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
(h) Leases |
Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. |
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
(i) Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax assets 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets is measured using the rates and allowances that apply to the sale of the asset. |
(j) Turnover and other income |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Sale of goods and services |
Turnover from the sale of beer and brewing services are recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of goods and the invoice date for brewing services. |
Interest and dividends receivable |
Hambleton Brewery Limited (Registered number: 11821466) |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2023 |
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established. |
(k) Foreign currency |
Foreign currency transactions are initially recognised by applying to the foreign currency amount the spot exchange rate between the functional currency and the foreign currency at the date of the transaction. |
Monetary assets and liabilities denominated in a foreign currency at the balance sheet date are translated using the closing rate. |
(l) Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
3. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
Buildings | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st April 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31st March 2023 |
DEPRECIATION |
At 1st April 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31st March 2023 |
NET BOOK VALUE |
At 31st March 2023 |
At 31st March 2022 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts |
Prepayments and deferred income |
Hambleton Brewery Limited (Registered number: 11821466) |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans and overdrafts |
Coronavirus business interruption loan |
Hire purchase contracts |
Trade creditors |
Corporation Tax |
Social security and other taxes |
Other creditors |
Directors' current accounts |
Accrued expenses |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |
Coronavirus business |
interruption loan |
Hire purchase contracts |
31.3.23 | 31.3.22 |
£ | £ |
Amounts falling due in more than five years |
Bank loans repayable by instalments | 99,824 | 137,934 |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.3.23 | 31.3.22 |
£ | £ |
Bank loans |
Coronavirus business interruption loan |
The borrowings are secured by a fixed and floating charge over all assets of the company. |
In addition a guarantee has been provided by two of the directors, N R and Mrs S E Stafford, over the property at Unit 2 Barker Business Park, Melmerby Green Road, Melmerby, Ripon. |
Hambleton Brewery Limited (Registered number: 11821466) |
Notes to the Financial Statements - continued |
For The Year Ended 31st March 2023 |
8. | CALLED UP SHARE CAPITAL |
Number |
Class |
Nominal Value |
£ |
330 | Ordinary A share | £0.01 | £3 |
310 | Ordinary B share | £0.01 | £3 |
200 | Ordinary C share | £0.01 | £2 |
100 | Ordinary D share | £0.01 | £1 |
60 | Ordinary E share | £0.01 | £1 |
-------- |
£10 |
-------- |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022: |
31.3.23 | 31.3.22 |
£ | £ |
Balance outstanding at start of year |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest of 2% was charged and the loans are repayable on demand. |