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Company No: 10099045 (England and Wales)

SALTER'S BREWERY RICKMANSWORTH LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

SALTER'S BREWERY RICKMANSWORTH LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

SALTER'S BREWERY RICKMANSWORTH LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
SALTER'S BREWERY RICKMANSWORTH LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTOR Mr R C Morgan
REGISTERED OFFICE United Kingdom
COMPANY NUMBER 10099045 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
66 Prescot Street
London
E1 8NN
United Kingdom
SALTER'S BREWERY RICKMANSWORTH LIMITED

BALANCE SHEET

As at 31 March 2023
SALTER'S BREWERY RICKMANSWORTH LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 10,977
Tangible assets 4 93,503 91,334
93,503 102,311
Current assets
Stocks 16,749 25,142
Debtors 5 46,828 84,257
Cash at bank and in hand 7 15,236
63,584 124,635
Creditors: amounts falling due within one year 6 ( 450,427) ( 439,073)
Net current liabilities (386,843) (314,438)
Total assets less current liabilities (293,340) (212,127)
Creditors: amounts falling due after more than one year 7 ( 21,692) ( 31,667)
Net liabilities ( 315,032) ( 243,794)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 315,132 ) ( 243,894 )
Total shareholder's deficit ( 315,032) ( 243,794)

For the financial year 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 Salter's Brewery Rickmansworth Limited (registered number: 10099045) were approved and authorised for issue by the Director on 02 March 2024. They were signed on its behalf by:

Mr R C Morgan
Director
SALTER'S BREWERY RICKMANSWORTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
SALTER'S BREWERY RICKMANSWORTH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

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

General information and basis of accounting

Salter's Brewery Rickmansworth 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 , 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

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Employee benefits

Short term benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 5 years straight line
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 25 % reducing balance

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.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 23 23

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2022 109,771 109,771
At 31 March 2023 109,771 109,771
Accumulated amortisation
At 01 April 2022 98,794 98,794
Charge for the financial year 10,977 10,977
At 31 March 2023 109,771 109,771
Net book value
At 31 March 2023 0 0
At 31 March 2022 10,977 10,977

4. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Total
£ £ £
Cost
At 01 April 2022 44,858 145,417 190,275
Additions 20,066 9,187 29,253
At 31 March 2023 64,924 154,604 219,528
Accumulated depreciation
At 01 April 2022 15,855 83,086 98,941
Charge for the financial year 10,419 16,665 27,084
At 31 March 2023 26,274 99,751 126,025
Net book value
At 31 March 2023 38,650 54,853 93,503
At 31 March 2022 29,003 62,331 91,334

5. Debtors

2023 2022
£ £
Other debtors 46,828 84,257

6. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,975 10,000
Trade creditors 30,626 88,717
Other taxation and social security 153,602 86,156
Other creditors 256,224 254,200
450,427 439,073

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 21,692 31,667

There are no amounts included above in respect of which any security has been given by the small entity.