Company registration number 14089472 (England and Wales)
HOLD MY BEER LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
PAGES FOR FILING WITH REGISTRAR
HOLD MY BEER LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
HOLD MY BEER LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF HOLD MY BEER LTD FOR THE PERIOD ENDED 31 AUGUST 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Hold My Beer Ltd for the Period ended 31 August 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Hold My Beer Ltd, as a body, in accordance with the terms of our engagement letter dated 18 May 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Hold My Beer Ltd and state those matters that we have agreed to state to the board of directors of Hold My Beer Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hold My Beer Ltd and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Hold My Beer Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Hold My Beer Ltd. You consider that Hold My Beer Ltd is exempt from the statutory audit requirement for the Period.

We have not been instructed to carry out an audit or a review of the financial statements of Hold My Beer Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
5 February 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
HOLD MY BEER LTD
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 2 -
2023
Notes
£
£
Fixed assets
Investments
3
768,802
Current assets
-
Creditors: amounts falling due within one year
4
(619,802)
Net current liabilities
(619,802)
Net assets
149,000
Capital and reserves
Called up share capital
5
50
Share premium account
149,950
Profit and loss reserves
(1,000)
Total equity
149,000

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 Period ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 5 February 2024
Miss A C F Skinner
Director
Company registration number 14089472 (England and Wales)
HOLD MY BEER LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
- 3 -
1
Accounting policies
Company information

Hold My Beer Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5-6, Ridge Farm, Horsham Road, Rowhook, Horsham, West Sussex, RH12 3QB.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
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.

HOLD MY BEER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

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.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was 0.

3
Fixed asset investments
2023
£
Shares in group undertakings and participating interests
768,802
Movements in fixed asset investments
Shares in associates
£
Cost or valuation
At 5 May 2022
-
Additions
768,802
At 31 August 2023
768,802
Carrying amount
At 31 August 2023
768,802
HOLD MY BEER LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
- 5 -
4
Creditors: amounts falling due within one year
2023
£
Amounts owed to group undertakings and undertakings in which the company has a participating interest
618,802
Other creditors
1,000
619,802
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
50
50

During the year the company acquired 249 shares in an associated company, Pigs Ears Beers Limited. 50 of these shares were acquired in a share for share exchange agreement whereby 50 shares held in the associate were acquired in exchange for the whole share capital in Hold My Beer Ltd.

2023-08-312022-05-05false05 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityMiss A C F Skinnerfalse140894722022-05-052023-08-31140894722023-08-3114089472core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3114089472core:CurrentFinancialInstruments2023-08-3114089472core:ShareCapital2023-08-3114089472core:SharePremium2023-08-3114089472core:RetainedEarningsAccumulatedLosses2023-08-3114089472bus:Director12022-05-052023-08-3114089472bus:PrivateLimitedCompanyLtd2022-05-052023-08-3114089472bus:SmallCompaniesRegimeForAccounts2022-05-052023-08-3114089472bus:FRS1022022-05-052023-08-3114089472bus:AuditExemptWithAccountantsReport2022-05-052023-08-3114089472bus:FullAccounts2022-05-052023-08-31xbrli:purexbrli:sharesiso4217:GBP