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REGISTERED NUMBER: 08845807 (England and Wales)















Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 December 2023

for

ELECTRIC BEAR BREWING COMPANY LTD

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Statement of Changes in Equity 7

Notes to the Financial Statements 8


ELECTRIC BEAR BREWING COMPANY LTD

Company Information
for the year ended 31 December 2023







DIRECTORS: D A Horner
M C Horner





SECRETARY: M C Horner





REGISTERED OFFICE:
11 Laura Place
Bath
BA2 4BL





REGISTERED NUMBER: 08845807 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Report of the Directors
for the year ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

D A Horner
M C Horner

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D A Horner - Director


22 July 2024

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Electric Bear Brewing Company Ltd


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Electric Bear Brewing Company Ltd for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Electric Bear Brewing Company Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Electric Bear Brewing Company Ltd and state those matters that we have agreed to state to the Board of Directors of Electric Bear Brewing Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Electric Bear Brewing Company Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Electric Bear Brewing Company 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 Electric Bear Brewing Company Ltd. You consider that Electric Bear Brewing Company 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 financial statements of Electric Bear Brewing Company 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


25 July 2024

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Income Statement
for the year ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 874,305 705,141

Cost of sales 430,747 369,478
GROSS PROFIT 443,558 335,663

Administrative expenses 802,769 704,279
(359,211 ) (368,616 )

Other operating income 328,177 4,352
OPERATING LOSS (31,034 ) (364,264 )


Interest payable and similar expenses 16,060 16,859
LOSS BEFORE TAXATION (47,094 ) (381,123 )

Tax on loss 4 - -
LOSS FOR THE FINANCIAL YEAR (47,094 ) (381,123 )

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 317,781 399,441

CURRENT ASSETS
Stocks 45,371 60,468
Debtors 6 77,568 103,938
Cash at bank and in hand 40,806 105,774
163,745 270,180
CREDITORS
Amounts falling due within one year 7 154,944 211,096
NET CURRENT ASSETS 8,801 59,084
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,582

458,525

CREDITORS
Amounts falling due after more than one
year

8

1,005,181

1,090,030
NET LIABILITIES (678,599 ) (631,505 )

CAPITAL AND RESERVES
Called up share capital 11 425,105 425,105
Retained earnings (1,103,704 ) (1,056,610 )
SHAREHOLDERS' FUNDS (678,599 ) (631,505 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Balance Sheet - continued
31 December 2023


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

The financial statements were approved by the Board of Directors and authorised for issue on 22 July 2024 and were signed on its behalf by:





D A Horner - Director


ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Statement of Changes in Equity
for the year ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2022 425,105 (675,487 ) (250,382 )

Changes in equity
Total comprehensive income - (381,123 ) (381,123 )
Balance at 31 December 2022 425,105 (1,056,610 ) (631,505 )

Changes in equity
Total comprehensive income - (47,094 ) (47,094 )
Balance at 31 December 2023 425,105 (1,103,704 ) (678,599 )

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Electric Bear Brewing Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

The balance sheet for the current and prior year shows that the company had net liabilities. The financial statements have been prepared on the going concern basis on the understanding that the director will continue to financially support the company.

Critical accounting judgements and key sources of estimation uncertainty
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax and is recognised when goods are sold.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Office Equipment - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Plant & machinery - Straight line over 12 years and Straight line over 40 years

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

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

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 the 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 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 the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Grant income
Grants that are received in respect of expenses or losses already incurred by the entity are recognised in profit and loss in the period when the grant becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 20 ) .

4. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 December 2023 nor for the year ended 31 December 2022.

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Office and
property Equipment fittings
£    £    £   
COST
At 1 January 2023 167,251 4,961 8,895
Additions - 679 1,339
At 31 December 2023 167,251 5,640 10,234
DEPRECIATION
At 1 January 2023 117,591 2,683 2,521
Charge for year 16,725 1,533 2,559
At 31 December 2023 134,316 4,216 5,080
NET BOOK VALUE
At 31 December 2023 32,935 1,424 5,154
At 31 December 2022 49,660 2,278 6,374

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Motor Plant &
vehicles machinery Totals
£    £    £   
COST
At 1 January 2023 16,411 633,148 830,666
Additions - 6,095 8,113
At 31 December 2023 16,411 639,243 838,779
DEPRECIATION
At 1 January 2023 8,206 300,224 431,225
Charge for year 5,470 63,486 89,773
At 31 December 2023 13,676 363,710 520,998
NET BOOK VALUE
At 31 December 2023 2,735 275,533 317,781
At 31 December 2022 8,205 332,924 399,441

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 January 2023
and 31 December 2023 16,411
DEPRECIATION
At 1 January 2023 8,206
Charge for year 5,470
At 31 December 2023 13,676
NET BOOK VALUE
At 31 December 2023 2,735
At 31 December 2022 8,205

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 48,421 72,649
Other debtors 29,147 31,289
77,568 103,938

ELECTRIC BEAR BREWING COMPANY LTD (REGISTERED NUMBER: 08845807)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,766 15,857
Hire purchase contracts and finance leases (see note 9)
26,786

33,514
Trade creditors 47,894 75,000
Taxation and social security 44,943 6,328
Other creditors 21,555 80,397
154,944 211,096

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 23,073 34,473
Hire purchase contracts and finance leases (see note 9)
70,287

118,780
Other creditors 911,821 936,777
1,005,181 1,090,030

9. LEASING AGREEMENTS

At the year end the company had outstanding hire purchase contracts totalling £64,110 (2022: £97,624) which are secured against the company's assets.

At the year end the company had outstanding finance lease agreements totalling £32,963 (2022: £55,824).

At the year end the company was committed to making operating lease payments totalling £96,500 (2022: £132,500).

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bounce Back Loan 34,259 45,353

The bank loan relates to a government supported bounce back loan.

The hire purchase liability is secured on the assets to which it relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
42,510,527 Ordinary £0.01 425,105 425,105