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Registration number: 10362189

Beer & Buns Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2023

 

Beer & Buns Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 8

 

Beer & Buns Ltd

Company Information

Directors

Mr Maurice Abboudi

Mr Christopher Paul Kay

Mr Reuben Todd

Registered office

58-59 Boundary Road
Hove
East Sussex
BN3 5TD

Accountants

Baxterworld Limited
Unit 3 Dargan Industrial Park
60-84 Dargan Crescent
Belfast
Co. Antrim
BT3 9JP

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Beer & Buns Ltd
for the Year Ended 30 September 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Beer & Buns Ltd for the year ended 30 September 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com

This report is made solely to the Board of Directors of Beer & Buns Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Beer & Buns Ltd and state those matters that we have agreed to state to the Board of Directors of Beer & Buns Ltd, as a body, in this report in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beer & Buns Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Beer & Buns 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 accounts.

......................................

Baxterworld Limited
Unit 3 Dargan Industrial Park
60-84 Dargan Crescent
Belfast
Co. Antrim
BT3 9JP

7 December 2023

 

Beer & Buns Ltd

(Registration number: 10362189)
Abridged Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

183,678

66,326

Current assets

 

Stocks

5

38,305

28,306

Debtors

6

111,850

98,826

Cash at bank and in hand

 

370,006

227,758

 

520,161

354,890

Prepayments and accrued income

 

64,027

89,295

Creditors: Amounts falling due within one year

(188,924)

(148,667)

Net current assets

 

395,264

295,518

Total assets less current liabilities

 

578,942

361,844

Creditors: Amounts falling due after more than one year

(37,814)

(43,415)

Accruals and deferred income

 

(198,532)

(73,964)

Net assets

 

342,596

244,465

Capital and reserves

 

Called up share capital

7

3,545

2,545

Share premium reserve

426,926

302,926

Other reserves

-

(42,310)

Retained earnings

(87,875)

(18,696)

Shareholders' funds

 

342,596

244,465

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Beer & Buns Ltd

(Registration number: 10362189)
Abridged Balance Sheet as at 30 September 2023

Approved and authorised by the Board on 7 December 2023 and signed on its behalf by:
 

.........................................
Mr Maurice Abboudi
Director

 

Beer & Buns Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
58-59 Boundary Road
Hove
East Sussex
BN3 5TD
England

These financial statements were authorised for issue by the Board on 7 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Beer & Buns Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Beer & Buns Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 40 (2022 - 40).

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

75,743

75,743

Additions

146,653

146,653

At 30 September 2023

222,396

222,396

Depreciation

At 1 October 2022

9,417

9,417

Charge for the year

29,301

29,301

At 30 September 2023

38,718

38,718

Carrying amount

At 30 September 2023

183,678

183,678

At 30 September 2022

66,326

66,326

5

Stocks

2023
£

2022
£

Other inventories

38,305

28,306

6

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Beer & Buns Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £0.01 each

354,501

3,545

254,501

2,545