Company Registration No. 07125104 (England and Wales)
THE BREWERS WHOLESALE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
THE BREWERS WHOLESALE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
THE BREWERS WHOLESALE LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
450,000
487,500
Current assets
Stocks
69,243
91,979
Debtors
4
310,871
291,139
Cash at bank and in hand
1,259
11,616
381,373
394,734
Creditors: amounts falling due within one year
5
(619,857)
(675,235)
Net current liabilities
(238,484)
(280,501)
Total assets less current liabilities
211,516
206,999
Creditors: amounts falling due after more than one year
6
(41,121)
(49,219)
Net assets
170,395
157,780
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
170,295
157,680
Total equity
170,395
157,780
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE BREWERS WHOLESALE LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 5 October 2023
Mark Hill
Director
Company Registration No. 07125104
THE BREWERS WHOLESALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
1
Accounting policies
Company information
The Brewers Wholesale Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2b Gainsborough Trading Estate, Rufford Road, Stourbridge, West Midlands, DY9 7ND.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 20 years.
1.4
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.5
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
THE BREWERS WHOLESALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
9
7
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2022 and 31 May 2023
750,000
Amortisation and impairment
At 1 June 2022
262,500
Amortisation charged for the year
37,500
At 31 May 2023
300,000
Carrying amount
At 31 May 2023
450,000
At 31 May 2022
487,500
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
305,415
286,291
Other debtors
5,456
4,848
310,871
291,139
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
34,150
773
Trade creditors
382,899
428,148
Taxation and social security
77,888
58,548
Other creditors
124,920
187,766
619,857
675,235
THE BREWERS WHOLESALE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
41,121
49,219
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
29,169
28,566