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Registration number: 11679175

Brew Monkey Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Brew Monkey Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Brew Monkey Limited

Company Information

Directors

Anthony Charles Frith

Jacqueline Frith

Registered office

Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

Accountants

Gordon Levy Limited
Chartered Accountants
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

 

Brew Monkey Limited

(Registration number: 11679175)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

56,732

62,416

Current assets

 

Stocks

5

15,000

18,000

Debtors

6

113

256

Cash at bank and in hand

 

3,310

2,649

 

18,423

20,905

Creditors: Amounts falling due within one year

7

(585,951)

(375,085)

Net current liabilities

 

(567,528)

(354,180)

Total assets less current liabilities

 

(510,796)

(291,764)

Creditors: Amounts falling due after more than one year

7

(15,000)

(25,000)

Provisions for liabilities

(1,812)

(2,003)

Net liabilities

 

(527,608)

(318,767)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(527,708)

(318,867)

Shareholders' deficit

 

(527,608)

(318,767)

For the financial year ending 30 November 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.

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.

 

Brew Monkey Limited

(Registration number: 11679175)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 12 August 2024 and signed on its behalf by:
 

.........................................
Anthony Charles Frith
Director

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
Suite 5, 4th Floor
3 Universal Square
Devonshire Street North
Manchester, M12 6JH

These financial statements were authorised for issue by the Board on 12 August 2024.

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 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 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 value added tax and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

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

Short leasehold land and buildings

6.67% and 33.33% straight line

Fixtures and fittings

33.33% straight line

Plant and machinery

33.33% straight line

Motor vehicles

33.33% reducing balance

Office equipment

50% 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 goods 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.

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 21 (2022 - 19).

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 December 2022

73,630

34,362

18,466

1,077

Additions

-

-

4,950

-

At 30 November 2023

73,630

34,362

23,416

1,077

Depreciation

At 1 December 2022

21,757

33,724

10,747

920

Charge for the year

4,681

511

4,609

157

At 30 November 2023

26,438

34,235

15,356

1,077

Carrying amount

At 30 November 2023

47,192

127

8,060

-

At 30 November 2022

51,873

638

7,719

157

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

8,500

136,035

Additions

-

4,950

At 30 November 2023

8,500

140,985

Depreciation

At 1 December 2022

6,471

73,619

Charge for the year

676

10,634

At 30 November 2023

7,147

84,253

Carrying amount

At 30 November 2023

1,353

56,732

At 30 November 2022

2,029

62,416

Included within the net book value of land and buildings above is £47,192 (2022 - £51,873) in respect of short leasehold land and buildings.
 

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Stocks

2023
£

2022
£

Other inventories

15,000

18,000

6

Debtors

Current

2023
£

2022
£

Prepayments

113

256

 

113

256

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

26,718

30,914

Trade creditors

 

28,395

31,139

Taxation and social security

 

8,083

12,072

Accruals and deferred income

 

7,482

5,945

Other creditors

 

515,273

295,015

 

585,951

375,085

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

15,000

25,000

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Other borrowings

15,000

25,000

Current loans and borrowings

2023
£

2022
£

Other borrowings

26,718

30,914

 

Brew Monkey Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

10

Related party transactions

Summary of transactions with other related parties

Loans from other related parties amount presented below comprises loans from Brew Monkey Coffee Roasters Limited, a company under common control with the reporting entity.
 

Loans from related parties

2023

Key management
£

Other related parties
£

Total
£

At start of period

290,934

-

290,934

Advanced

130,492

96,219

226,711

Repaid

(9,558)

-

(9,558)

At end of period

411,868

96,219

508,087

2022

Key management
£

Total
£

At start of period

209,700

209,700

Advanced

124,982

124,982

Repaid

(43,748)

(43,748)

At end of period

290,934

290,934

Terms of loans from related parties

Loans from key management and other related parties presented above are unsecured. interest free and repayable on demand.