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Company No: 02909638 (England and Wales)

DARTMOOR BREWERY LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

DARTMOOR BREWERY LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

DARTMOOR BREWERY LIMITED

COMPANY INFORMATION

For the financial year ended 30 April 2024
DARTMOOR BREWERY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 April 2024
DIRECTORS Mr P B M Cliff
Mr I Cobham
Mr P G Davies
Mr R J Hutchings
SECRETARIES Mrs S Cliff
Mrs L J Davies
REGISTERED OFFICE 9 Lady Park Road
Livermead
Torquay
TQ2 6UA
England
United Kingdom
COMPANY NUMBER 02909638 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF
DARTMOOR BREWERY LIMITED

BALANCE SHEET

As at 30 April 2024
DARTMOOR BREWERY LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 1,094,569 1,118,866
Investments 5 35,415 33,390
1,129,984 1,152,256
Current assets
Stocks 137,737 111,163
Debtors 6 410,836 390,023
Cash at bank and in hand 394,431 189,553
943,004 690,739
Creditors: amounts falling due within one year 7 ( 430,047) ( 524,322)
Net current assets 512,957 166,417
Total assets less current liabilities 1,642,941 1,318,673
Creditors: amounts falling due after more than one year 8 ( 70,108) ( 108,587)
Provision for liabilities ( 113,737) ( 114,937)
Net assets 1,459,096 1,095,149
Capital and reserves
Called-up share capital 9 100 100
Profit and loss account 1,458,996 1,095,049
Total shareholder's funds 1,459,096 1,095,149

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Dartmoor Brewery Limited (registered number: 02909638) were approved and authorised for issue by the Board of Directors on 11 September 2024. They were signed on its behalf by:

Mr P B M Cliff
Director
DARTMOOR BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
DARTMOOR BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dartmoor Brewery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Lady Park Road, Livermead, Torquay, TQ2 6UA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are dispatched.

Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery 10 years straight line
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Other property, plant and equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Capital grants are received from South West Grant Funding (SWGF) in respect of capital expenditure. SWGF are initially taken to the grant account. Credits are made to the profit and loss account by equal instalments over a period of 50 years which, on average, matches the period over which the relevant fixed assets are depreciated.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 19 15

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 May 2023 17,503 17,503
At 30 April 2024 17,503 17,503
Accumulated amortisation
At 01 May 2023 17,503 17,503
At 30 April 2024 17,503 17,503
Net book value
At 30 April 2024 0 0
At 30 April 2023 0 0

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 May 2023 1,081,007 1,276,815 170,026 129,382 386,140 3,043,370
Additions 0 90,954 0 2,750 0 93,704
At 30 April 2024 1,081,007 1,367,769 170,026 132,132 386,140 3,137,074
Accumulated depreciation
At 01 May 2023 314,270 1,079,545 79,414 121,595 329,680 1,924,504
Charge for the financial year 21,626 63,896 22,435 1,580 8,464 118,001
At 30 April 2024 335,896 1,143,441 101,849 123,175 338,144 2,042,505
Net book value
At 30 April 2024 745,111 224,328 68,177 8,957 47,996 1,094,569
At 30 April 2023 766,737 197,270 90,612 7,787 56,460 1,118,866

5. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 May 2023 33,390 33,390
Movement in fair value 2,025 2,025
At 30 April 2024 35,415 35,415
Carrying value at 30 April 2024 35,415 35,415
Carrying value at 30 April 2023 33,390 33,390

6. Debtors

2024 2023
£ £
Trade debtors 386,009 380,062
Amounts owed by Group undertakings 15,270 3,745
Prepayments 9,557 6,216
410,836 390,023

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 139,366 148,704
Amounts owed to Group undertakings 43,192 23,672
Accruals and deferred income 47,289 47,935
Corporation tax 71,404 101,136
Other taxation and social security 87,022 114,410
Obligations under finance leases and hire purchase contracts 36,501 34,734
Other creditors 5,273 53,731
430,047 524,322

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Deferred income 35,000 37,000
Obligations under finance leases and hire purchase contracts 35,108 71,587
70,108 108,587

Hire Purchase liabilities are secured by a charge over the assets financed.

9. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

10. Ultimate controlling party

Parent Company:

Dartmoor Brewery 2022 Limited
9 Lady Park Road, Livermead, Torquay, TQ2 6UA.