2
false
false
false
false
false
false
false
false
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true
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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
6,000
181,169
1,021
617
1,638
447
298
745
893
574
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xbrli:shares
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SC683591
1
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
SC683591
Unaudited Financial Statements |
|
Year ended 31 December 2023
Officers and professional advisers |
1 |
|
|
Statement of income and retained earnings |
3 |
|
|
Statement of financial position |
4 |
|
|
Notes to the financial statements |
6 |
|
|
The following pages do not form part of the financial statements
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
11 |
|
|
Officers and Professional Advisers |
|
The board of directors |
D Muldoon |
|
S Long |
|
|
Registered office |
Stannergate House |
|
41 Dundee Road West |
|
Broughty Ferry |
|
Dundee |
|
DD5 1NB |
|
|
Accountants |
FourM Limited |
|
Chartered Accountants |
|
FourM Limited |
|
Stannergate House |
|
41 Dundee Road West |
|
Broughty Ferry |
|
Dundee |
|
DD5 1NB |
|
|
Year ended 31 December 2023
The directors present their report and the unaudited financial statements of the company for the year ended
31 December 2023
.
Directors
The directors who served the company during the year were as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
29 August 2024
and signed on behalf of the board by:
Registered office: |
Stannergate House |
41 Dundee Road West |
Broughty Ferry |
Dundee |
DD5 1NB |
|
Statement of Income and Retained Earnings |
|
Year ended 31 December 2023
|
2023 |
2022 |
Note |
£ |
£ |
Turnover |
818,396 |
349,428 |
|
|
|
Cost of sales |
557,982 |
295,476 |
|
--------- |
--------- |
Gross profit |
260,414 |
53,952 |
|
|
|
Distribution costs |
126,453 |
106,527 |
Administrative expenses |
139,961 |
128,594 |
|
--------- |
--------- |
Operating loss |
(
6,000) |
(
181,169) |
|
|
|
|
|
--------- |
--------- |
Loss before taxation |
5 |
(
6,000) |
(
181,169) |
|
|
|
|
Tax on loss |
– |
– |
|
------- |
--------- |
Loss for the financial year and total comprehensive income |
(
6,000) |
(
181,169) |
|
------- |
--------- |
|
|
|
Retained losses at the start of the year |
(
263,450) |
(
82,281) |
|
--------- |
--------- |
Retained losses at the end of the year |
(
269,450) |
(
263,450) |
|
--------- |
--------- |
|
|
|
All the activities of the company are from continuing operations.
Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
6 |
893 |
574 |
|
|
|
|
Current assets
Stocks |
28,107 |
37,995 |
Debtors |
7 |
6,577 |
14,740 |
Cash at bank and in hand |
2,355 |
29,235 |
|
-------- |
-------- |
|
37,039 |
81,970 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
307,381 |
345,993 |
|
--------- |
--------- |
Net current liabilities |
270,342 |
264,023 |
|
--------- |
--------- |
Total assets less current liabilities |
(
269,449) |
(
263,449) |
|
--------- |
--------- |
Net liabilities |
(
269,449) |
(
263,449) |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
(
269,450) |
(
263,450) |
|
--------- |
--------- |
Shareholders deficit |
(
269,449) |
(
263,449) |
|
--------- |
--------- |
|
|
|
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2024
, and are signed on behalf of the board by:
Company registration number:
SC683591
Notes to the Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Stannergate House, 41 Dundee Road West, Broughty Ferry, Dundee, DD5 1NB.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has made a loss for the year of £6,000 (2022 - £181,169). This is the third year of trade for the company and therefore a loss was still expected by the directors. Turnover level has increased this year and expected to be higher next year as their customer base increases in the UK. On this basis and with the support of the controlling shareholder Brew Export LLC, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
1
).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2023 |
2022 |
|
£ |
£ |
Depreciation of tangible assets |
298 |
192 |
|
---- |
---- |
|
|
|
6.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 January 2023 |
1,021 |
Additions |
617 |
|
------- |
At 31 December 2023 |
1,638 |
|
------- |
Depreciation |
|
At 1 January 2023 |
447 |
Charge for the year |
298 |
|
------- |
At 31 December 2023 |
745 |
|
------- |
Carrying amount |
|
At 31 December 2023 |
893 |
|
------- |
At 31 December 2022 |
574 |
|
------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
796 |
– |
Other debtors |
5,781 |
14,740 |
|
------- |
-------- |
|
6,577 |
14,740 |
|
------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
302,929 |
335,017 |
Social security and other taxes |
2,522 |
3,108 |
Other creditors |
1,930 |
7,868 |
|
--------- |
--------- |
|
307,381 |
345,993 |
|
--------- |
--------- |
|
|
|
9.
Controlling party
Brew Export LLC is the ultimate controlling party and are based in the USA, at the year end the company was due Brew Export LLC £294,950 (2022 : £335,018)
Year ended 31 December 2023
The following pages do not form part of the financial statements.
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Brew Export UK Limited |
|
Year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Brew Export UK Limited for the year ended 31 December 2023, which comprise the statement of income and retained earnings, statement of financial position 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 ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/professional-resources/practice/support-and-guidance-framework-for-the-preparation-of-accounts-revised-june-2020. This report is made solely to the Board of Directors of Brew Export UK Limited, as a body, in accordance with the terms of our engagement letter dated 23 December 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Brew Export UK Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/professional-resources/practice/support-and-guidance-framework-for-the-preparation-of-accounts-revised-june-2020. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Brew Export UK Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Brew Export UK Limited 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 Brew Export UK Limited. You consider that Brew Export UK Limited 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 Brew Export UK Limited. 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.
FourM Limited
Chartered Accountants
FourM Limited
Stannergate House
41 Dundee Road West
Broughty Ferry
Dundee
DD5 1NB