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REGISTERED NUMBER: 08891501 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Pig Iron Brewing Company Limited

Pig Iron Brewing Company Limited (Registered number: 08891501)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pig Iron Brewing Company Limited

Company Information
for the Year Ended 28 February 2023







DIRECTOR: D W Cartwright





SECRETARY: D W Cartwright





REGISTERED OFFICE: Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS





REGISTERED NUMBER: 08891501 (England and Wales)





ACCOUNTANTS: Pride Accountants
Polymer Court
Hope Street
Dudley
West Midlands
DY2 8RS

Pig Iron Brewing Company Limited (Registered number: 08891501)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 89,179 59,460

CURRENT ASSETS
Stocks 13,430 14,860
Debtors 5 85,323 48,877
Cash at bank and in hand 21,903 34,452
120,656 98,189
CREDITORS
Amounts falling due within one year 6 81,791 55,480
NET CURRENT ASSETS 38,865 42,709
TOTAL ASSETS LESS CURRENT
LIABILITIES

128,044

102,169

CREDITORS
Amounts falling due after more than one
year

7

(102,254

)

(121,582

)

PROVISIONS FOR LIABILITIES (4,839 ) -
NET ASSETS/(LIABILITIES) 20,951 (19,413 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 20,851 (19,513 )
SHAREHOLDERS' FUNDS 20,951 (19,413 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pig Iron Brewing Company Limited (Registered number: 08891501)

Balance Sheet - continued
28 February 2023


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 6 November 2023 and were signed by:





D W Cartwright - Director


Pig Iron Brewing Company Limited (Registered number: 08891501)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Pig Iron Brewing Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Government grants
Government grants are recognised at their fair value received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and that the grants will be received.

Government grants are recognised using the accruals model and where relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related cost for which the grant is intended to compensate. Grants including business rates relief funding and JRS furlough grants, that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the company with no future related costs, are recognised as income for the period in which they become receivable.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Pig Iron Brewing Company Limited (Registered number: 08891501)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued
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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor
leasehold fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 2,296 71,311 9,334 82,941
Additions - 58,682 - 58,682
At 28 February 2023 2,296 129,993 9,334 141,623
DEPRECIATION
At 1 March 2022 - 21,147 2,334 23,481
Charge for year - 27,213 1,750 28,963
At 28 February 2023 - 48,360 4,084 52,444
NET BOOK VALUE
At 28 February 2023 2,296 81,633 5,250 89,179
At 28 February 2022 2,296 50,164 7,000 59,460

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 85,323 48,877

Pig Iron Brewing Company Limited (Registered number: 08891501)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 37,115 28,569
Taxation and social security 36,808 17,151
Other creditors 7,868 9,760
81,791 55,480

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 102,254 121,582

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 29,322 48,650

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
28.2.23 28.2.22
£    £   
Within one year 27,500 25,833
Between one and five years 75,417 101,250
In more than five years - 1,667
102,917 128,750

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
100 Ordinary £1 100 100

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D W Cartwright.