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Company No: 14193484 (England and Wales)

ST ALBANS ALE & CIDER INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial period from 24 June 2022 to 31 March 2023
Pages for filing with the registrar

ST ALBANS ALE & CIDER INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial period from 24 June 2022 to 31 March 2023

Contents

ST ALBANS ALE & CIDER INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial period from 24 June 2022 to 31 March 2023
ST ALBANS ALE & CIDER INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial period from 24 June 2022 to 31 March 2023
DIRECTOR Mr R C Morgan
REGISTERED OFFICE 66 Prescot Street
London
E1 8NN
United Kingdom
COMPANY NUMBER 14193484 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
66 Prescot Street
London
E1 8NN
United Kingdom
ST ALBANS ALE & CIDER INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2023
ST ALBANS ALE & CIDER INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023
£
Fixed assets
Tangible assets 3 146,535
146,535
Current assets
Stocks 4 16,081
Debtors 5 49,647
Cash at bank and in hand 6 7,098
72,826
Creditors: amounts falling due within one year 7 ( 235,412)
Net current liabilities (162,586)
Total assets less current liabilities (16,051)
Net liabilities ( 16,051)
Capital and reserves
Called-up share capital 1
Profit and loss account ( 16,052 )
Total shareholder's deficit ( 16,051)

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of St Albans Ale & Cider Investments Limited (registered number: 14193484) were approved and authorised for issue by the Director on 31 January 2024. They were signed on its behalf by:

Mr R C Morgan
Director
ST ALBANS ALE & CIDER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 June 2022 to 31 March 2023
ST ALBANS ALE & CIDER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 24 June 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

St Albans Ale & Cider Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 66 Prescot Street, London, E1 8NN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern. At the balance sheet date there was a material uncertainty that the parent company may continue to operate. If the parent company was to lose the support of its directors this could place the company in financial difficulty.

Reporting period length

The financial statements represent a period of accounts between 24 June 2022 to 31 March 2023. Therefore the comparative figures are not present with the prior period.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 5 years straight line
Fixtures and fittings 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price. 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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

Period from
24.06.2022 to
31.03.2023
Number
Monthly average number of persons employed by the Company during the period, including the director 0

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 24 June 2022 0 0 0
Additions 81,874 76,194 158,068
At 31 March 2023 81,874 76,194 158,068
Accumulated depreciation
At 24 June 2022 0 0 0
Charge for the financial period 6,175 5,358 11,533
At 31 March 2023 6,175 5,358 11,533
Net book value
At 31 March 2023 75,699 70,836 146,535

4. Stocks

31.03.2023
£
Stocks 16,081

5. Debtors

31.03.2023
£
Other debtors 49,647

6. Cash and cash equivalents

31.03.2023
£
Cash at bank and in hand 7,098

7. Creditors: amounts falling due within one year

31.03.2023
£
Trade creditors 54,587
Other taxation and social security 10,313
Other creditors 170,512
235,412