Company Registration No. 11302727 (England and Wales)
Portishead Brewing Co Ltd
Unaudited accounts
for the year ended 30 April 2024
Portishead Brewing Co Ltd
Unaudited accounts
Contents
Portishead Brewing Co Ltd
Company Information
for the year ended 30 April 2024
Directors
Aleksandar Vladimirov
Yavor Kostadinchev
Company Number
11302727 (England and Wales)
Registered Office
UNIT 3 THE PRECINCT
PORTISHEAD
BRISTOL
BS20 6AH
ENGLAND
Accountants
Evans Entwistle
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Portishead Brewing Co Ltd
for the year ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Portishead Brewing Co Ltd for the year ended 30 April 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
10 Fountain Court, Elm House
New Leaze
Bradley Stoke
Bristol
BS32 4LA
25 July 2024
Portishead Brewing Co Ltd
Statement of financial position
as at 30 April 2024
Tangible assets
163,460
75,731
Cash at bank and in hand
38,201
18,204
Creditors: amounts falling due within one year
(67,099)
(68,422)
Net current assets
26,647
32,655
Total assets less current liabilities
190,107
108,386
Creditors: amounts falling due after more than one year
(138,576)
(116,547)
Provisions for liabilities
Deferred tax
(28,000)
(9,180)
Net assets/(liabilities)
23,531
(17,341)
Called up share capital
100
100
Profit and loss account
23,431
(17,441)
Shareholders' funds
23,531
(17,341)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by
Aleksandar Vladimirov
Director
Company Registration No. 11302727
Portishead Brewing Co Ltd
Notes to the Accounts
for the year ended 30 April 2024
Portishead Brewing Co Ltd is a private company, limited by shares, registered in England and Wales, registration number 11302727. The registered office is UNIT 3 THE PRECINCT, PORTISHEAD, BRISTOL, BS20 6AH, ENGLAND.
2
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:
Plant & machinery
5 years straight line
Motor vehicles
4 years straight line
Computer equipment
4 years straight line
Other tangible fixed assets
5 years straight line
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.
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.
Portishead Brewing Co Ltd
Notes to the Accounts
for the year ended 30 April 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 May 2023
41,843
101,963
29,163
635
173,604
Additions
9,810
41,787
81,460
-
133,057
Disposals
-
(2,507)
(10,955)
-
(13,462)
At 30 April 2024
51,653
141,243
99,668
635
293,199
At 1 May 2023
24,379
51,598
21,261
635
97,873
Charge for the year
10,421
24,511
5,491
-
40,423
On disposals
-
(1,710)
(6,847)
-
(8,557)
At 30 April 2024
34,800
74,399
19,905
635
129,739
At 30 April 2024
16,853
66,844
79,763
-
163,460
At 30 April 2023
17,464
50,365
7,902
-
75,731
Finished goods
30,000
24,000
Amounts falling due within one year
Accrued income and prepayments
13,564
13,304
Other debtors
11,400
45,158
Portishead Brewing Co Ltd
Notes to the Accounts
for the year ended 30 April 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,180
9,933
Obligations under finance leases and hire purchase contracts
14,108
5,326
Trade creditors
24,744
29,776
Taxes and social security
1,747
1,181
Other creditors
4,969
4,100
8
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
87,257
7,560
Loans from directors
38,234
85,722
9
Deferred taxation
2024
2023
Accelerated capital allowances
28,000
9,180
Provision at start of year
9,180
-
Charged to the profit and loss account
18,820
9,180
Provision at end of year
28,000
9,180
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
11
Average number of employees
During the year the average number of employees was 32 (2023: 32).