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REGISTERED NUMBER: 03005117 (England and Wales)















SOUTH EASTERN BEERS & MINERALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 555,274 534,306
555,274 534,306

CURRENT ASSETS
Stocks 417,682 631,287
Debtors 7 93,516 136,668
Cash at bank and in hand 195,263 57,304
706,461 825,259
CREDITORS
Amounts falling due within one year 8 662,934 888,306
NET CURRENT ASSETS/(LIABILITIES) 43,527 (63,047 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

598,801

471,259

CREDITORS
Amounts falling due after more than one
year

9

(16,667

)

(26,667

)

PROVISIONS FOR LIABILITIES (22,642 ) (13,406 )
NET ASSETS 559,492 431,186

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

STATEMENT OF FINANCIAL POSITION - continued
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 10 2 2
Revaluation reserve 11 197,924 197,924
Retained earnings 361,566 233,260
SHAREHOLDERS' FUNDS 559,492 431,186

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

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 29 July 2024 and were signed by:





A G Simmons - Director


SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

South Eastern Beers & Minerals Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03005117

Registered office: The Beech Depot
Sheephurst Lane
Marden
Tonbridge
Kent
TN12 9NU

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The company meets its day to day working capital requirements through the support of its director who has pledged his continuing support. He therefore considers it appropriate to prepare financial statements on the going concern basis. These financial statements do not include any adjustments that would result from a withdrawal of this support.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are the depreciation charges that are calculated with reference to the useful economic life of fixed assets.

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

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Database is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on reducing balance

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

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors
Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an 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.

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 statement of financial position date.

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Database
Database,being the amount paid in connection with the acquisition of a Customers' list in 2016 is being amortised evenly over its estimated useful life of 5 years.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 November 2022
and 31 October 2023 3,750
AMORTISATION
At 1 November 2022
and 31 October 2023 3,750
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. TANGIBLE FIXED ASSETS
Fixtures
Land and Plant and and
buildings machinery fittings
£    £    £   
COST OR VALUATION
At 1 November 2022 500,000 72,098 18,013
Additions - - -
At 31 October 2023 500,000 72,098 18,013
DEPRECIATION
At 1 November 2022 48,040 35,415 15,357
Charge for year 9,039 7,336 398
At 31 October 2023 57,079 42,751 15,755
NET BOOK VALUE
At 31 October 2023 442,921 29,347 2,258
At 31 October 2022 451,960 36,683 2,656

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 November 2022 140,151 12,428 742,690
Additions 51,100 - 51,100
At 31 October 2023 191,251 12,428 793,790
DEPRECIATION
At 1 November 2022 99,607 9,965 208,384
Charge for year 12,797 562 30,132
At 31 October 2023 112,404 10,527 238,516
NET BOOK VALUE
At 31 October 2023 78,847 1,901 555,274
At 31 October 2022 40,544 2,463 534,306

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 October 2023 is represented by:

Fixtures
Land and Plant and and
buildings machinery fittings
£    £    £   
Valuation in 2017 500,000 - -
Cost - 72,098 18,013
500,000 72,098 18,013

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2017 - - 500,000
Cost 191,251 12,428 293,790
191,251 12,428 793,790

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 57,266 106,095
Other debtors 10,000 5,702
Prepayments and accrued income 26,250 24,871
93,516 136,668

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 313,993 553,384
Other taxes and PAYE taxes 69,333 3,300
Pension Creditors 3,523 -
Director's current account 259,575 308,592
Accrued expenses 6,510 13,030
662,934 888,306

SOUTH EASTERN BEERS & MINERALS LIMITED (REGISTERED NUMBER: 03005117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 6,667 16,667
16,667 26,667

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
2 Ordinary Shares £1 2 2

11. RESERVES
Revaluation
reserve
£   
At 1 November 2022
and 31 October 2023 197,924