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Filleted

Registration number: 09323534

Harbour Brewery Tenby Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Harbour Brewery Tenby Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Harbour Brewery Tenby Limited

Company Information

Directors

Mr M Evans

Ms J Jones

Company secretary

Ms J Jones

Registered office

Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

 

Harbour Brewery Tenby Limited

(Registration number: 09323534)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

344,833

351,964

Current assets

 

Stocks

6

4,500

4,500

Debtors

7

267,880

233,152

Cash at bank and in hand

 

13,651

76,330

 

286,031

313,982

Creditors: Amounts falling due within one year

8

(671,077)

(589,740)

Net current liabilities

 

(385,046)

(275,758)

Total assets less current liabilities

 

(40,213)

76,206

Provisions for liabilities

(13,922)

(16,858)

Net (liabilities)/assets

 

(54,135)

59,348

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(54,235)

59,248

Total equity

 

(54,135)

59,348

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 and the option not to file the Profit and Loss Account has been taken.

 

Harbour Brewery Tenby Limited

(Registration number: 09323534)
Balance Sheet as at 30 November 2023

Approved and authorised by the Board on 23 August 2024 and signed on its behalf by:
 

.........................................
Mr M Evans
Director

   
     
 

Harbour Brewery Tenby Limited

Notes to the 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:
Barclays Bank Chambers
18 High Street
High Street
Tenby
Pembrokeshire
SA70 7HD

These financial statements were authorised for issue by the Board on 23 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 tax expense for the period comprises current and 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.

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.

 

Harbour Brewery Tenby Limited

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

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.

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:

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.

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.

 

Harbour Brewery Tenby Limited

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

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.

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 17 (2022 - 12).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

23,132

24,566

 

Harbour Brewery Tenby Limited

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

5

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 December 2022

294,521

25,547

138,943

16,820

Additions

-

-

16,000

-

At 30 November 2023

294,521

25,547

154,943

16,820

Depreciation

At 1 December 2022

31,282

17,591

65,269

9,724

Charge for the year

5,282

2,625

13,451

1,774

At 30 November 2023

36,564

20,216

78,720

11,498

Carrying amount

At 30 November 2023

257,957

5,331

76,223

5,322

At 30 November 2022

263,239

(17,591)

99,220

7,096

Total
£

Cost or valuation

At 1 December 2022

475,831

Additions

16,000

At 30 November 2023

491,831

Depreciation

At 1 December 2022

123,866

Charge for the year

23,132

At 30 November 2023

146,998

Carrying amount

At 30 November 2023

344,833

At 30 November 2022

351,964

Included within the net book value of land and buildings above is £257,958 (2022 - £263,239) in respect of freehold land and buildings.
 

6

Stocks

2023
£

2022
£

Other inventories

4,500

4,500

 

Harbour Brewery Tenby Limited

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

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

45,203

23,000

Amounts owed by group undertakings and undertakings in which the company has a participating interest

10

222,677

-

Other debtors

 

-

210,152

 

267,880

233,152

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

68,894

48,296

Taxation and social security

 

21,629

10,754

Amounts owed to group undertakings and undertakings in which the company has a participating interest

 

537,480

-

Other related parties

 

5,929

113,314

Other creditors

 

37,145

417,376

 

671,077

589,740

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £100 each

1

100

1

100

         
 

Harbour Brewery Tenby Limited

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

10

Related party transactions

During the year the company gave financial assistance to The Hope and Anchor Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £54,602. This loan is interest free and repayable on demand and has been included under note 10.

During the year the company gave financial assistance to Cobourg Development Company Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £168,075 (2022 £150,000). This loan is interest free and repayable on demand and has been included under note 10.

During the year the company received financial assistance from The Buccaneer (Tenby) Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £58,000. This loan is interest free and repayable on demand and has been included under note 8.


During the year the company received financial assistance from Harbwr Saundersfoot Limited, a company controlled by the director. The balance due to the company at the balance sheet date was £147,000. This loan is interest free and repayable on demand and has been included under note 8.

During the year the company received financial assistance from Harbwr Tenby Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £176,480. This loan is interest free and repayable on demand and has been included under note 8.

During the year the company received financial assistance from The Buccaneer Sun Inn Limited, a company controlled by the directors. The balance due from the company at the balance sheet date was £156,000 (2022 £162,000). This loan is interest free and repayable on demand and has been included under note 8.

Transactions with directors

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr M Evans

Interest free loan, repayable on demand

(56,657)

232,201

(178,507)

(2,963)

         
       

Ms J Jones

Interest free loan, repayable on demand

(56,657)

232,201

(178,507)

(2,963)