All Hail Ale Limited
Unaudited accounts
Contents
All Hail Ale Limited
Statement of financial position
as at 31 March 2024
Intangible assets
1,698
1,936
Tangible assets
2,819
4,173
Cash at bank and in hand
2,498
732
Creditors: amounts falling due within one year
(19,535)
(19,394)
Net current liabilities
(5,504)
(4,360)
Total assets less current liabilities
(987)
1,749
Creditors: amounts falling due after more than one year
(7,667)
(18,042)
Provisions for liabilities
Net liabilities
(9,511)
(17,453)
Called up share capital
20
20
Profit and loss account
(9,531)
(17,473)
Shareholders' funds
(9,511)
(17,453)
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 August 2024 and were signed on its behalf by
P Hector
Director
Company Registration No. 10043204
All Hail Ale Limited
Notes to the Accounts
for the year ended 31 March 2024
All Hail Ale Limited is a private company, limited by shares, registered in England and Wales, registration number 10043204. The registered office is 18 Pembroke Road, Parkstone, Poole, BH12 2HS.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight Line - 15 years
Plant & machinery
Straight Line - 3 years
Fixtures & fittings
Straight Line - 2 years
Computer equipment
Straight Line - 2 years
Other tangible fixed assets
Straight Line - 3 years
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is provided over 15 years by the straight line method.
All Hail Ale Limited
Notes to the Accounts
for the year ended 31 March 2024
We believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. This support is required as the company has net current liabilities of £20,097 and net liabilities of £33,350. We believe no further disclosures relating to the company's ability to continue as a going concern need to be made in the financial statements. In assessing going concern, we have paid particular attention to a period of not less than one year from the date of approval of the financial statements.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
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Intangible fixed assets
Total
5
Tangible fixed assets
Total
All Hail Ale Limited
Notes to the Accounts
for the year ended 31 March 2024
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Deferred taxation
2024
2023
Accelerated capital allowances
857
1,160
Provision at start of year
1,160
1,277
Credited to the profit and loss account
(303)
(117)
Provision at end of year
857
1,160
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Transactions with related parties
The directors charged the company rent of £312 (2023: £312).
The directors also made an interest free loan to the company of £361 (2023: £2,599). The directors reserve the right to charge the company interest at any stage.
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Average number of employees
During the year the average number of employees was 2 (2023: 2).