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Registered number:  06661641














M & A BEER HOLDINGS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


 
M & A BEER HOLDINGS LIMITED
 
 
COMPANY INFORMATION


Directors
Michael John Thomas Beer 
Alan James Beer 




Registered number
06661641



Registered office
Windrush
15 Links Hey Road

Caldy

Wirral

CH48 1NA




Independent auditors
Langtons Professional Services Limited
Chartered Accountants & Statutory Auditor

The Plaza

100 Old Hall Street

Liverpool

L3 9QJ





 
M & A BEER HOLDINGS LIMITED
 

CONTENTS



Page
Group strategic report
1
Directors' report
2 - 3
Independent auditors' report
4 - 7
Consolidated statement of comprehensive income
8
Consolidated balance sheet
9 - 10
Company balance sheet
11 - 12
Consolidated statement of changes in equity
13 - 14
Company statement of changes in equity
15
Consolidated statement of cash flows
16 - 17
Consolidated analysis of net debt
18
Notes to the financial statements
19 - 38


 
M & A BEER HOLDINGS LIMITED
 
 
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

Business review
 
The results for the year and financial position of the group are shown in the annexed financial statements.
Annual turnover has decreased by £600,000 in 2023 which represents a 2.66% decrease on the previous year.
The group achieved a gross profit margin of 38.9% compared to that of 37.2% in 2022.
The group made a net profit before tax of £599,062 compared to £645,765 in 2022.

Principal risks and uncertainties
 
Principal risks to the group continue to be uncertainty within the building industry but despite this uncertainty the group anticipates further growth in turnover and profitability in the future.

Financial key performance indicators
 
The group uses a range of industry specific, tailored KPIs to monitor the company's profitability and working capital requirements.


This report was approved by the board on 16 September 2024 and signed on its behalf.





M J T Beer
Director

Page 1

 
M & A BEER HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The directors are responsible for preparing the Group strategic report, the Directors' report and the consolidated financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Group's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation and minority interests, amounted to £413,941 (2022 - £502,124).

The directors do not recommend that a dividend be paid for the year ended 31 December 2022.

Directors

The directors who served during the year were:

Michael John Thomas Beer 
Alan James Beer 

Future developments

The directors are satisfied with the result for the year and are positive for the future, based on the ongoing improvement initiatives within the group.

Page 2

 
M & A BEER HOLDINGS LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company and the Group's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company and the Group's auditors are aware of that information.

Post balance sheet events

There have been no significant events affecting the Group since the year end.

Auditors

The auditorsLangtons Professional Services Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board on 16 September 2024 and signed on its behalf.
 





M J T Beer
Director

Page 3

 
M & A BEER HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF M & A BEER HOLDINGS LIMITED
 

Opinion


We have audited the financial statements of M & A Beer Holdings Limited (the 'parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2023, which comprise the Consolidated statement of comprehensive income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Group's and of the parent Company's affairs as at 31 December 2023 and of the Group's profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Page 4

 
M & A BEER HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF M & A BEER HOLDINGS LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Group strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Group strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Group and the parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group strategic report or the Directors' report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept by the parent Company, or returns adequate for our audit have not been received from branches not visited by us; or
the parent Company financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Page 5

 
M & A BEER HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF M & A BEER HOLDINGS LIMITED (CONTINUED)


Responsibilities of directors
 

As explained more fully in the Directors' responsibilities statement set out on page 2, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Group's and the parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the parent Company or to cease operations, or have no realistic alternative but to do so.


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
The objectives of our audit, in respect to fraud, are: 
• to identify and assess the risks of material misstatement of the financial statements due to fraud; 
• to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due
 to fraud, through designing and implementing appropriate responses; and 
• to respond appropriately to fraud or suspected fraud identified during the audit. 
However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. 
Our approach was as follows: 
• We obtained an understanding of the legal and regulatory frameworks that are applicable to the     Company and determined that the most significant are those that relate to the reporting framework (FRS   102 and  the Companies Act 2006), the relevant tax compliance regulations in the UK and the EU     General Data Protection Regulation (GDPR). 
• We understood how the Company is complying with those frameworks by making enquiries of
  management. 
Through consideration of the results of our audit procedures we were able to either corroborate or provide contrary evidence which was then followed up.


 
Page 6

 
M & A BEER HOLDINGS LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF M & A BEER HOLDINGS LIMITED (CONTINUED)


Based on our understanding we designed our audit procedures to identify non-compliance with laws and regulations. Our procedures involved: 
• enquiries of management; and 
• journal entry testing, with a focus on journals indicating large or unusual transactions based on our
  understanding of the business. 
We assessed the susceptibility of the Company’s financial statements to material misstatement, including how fraud might occur by meeting with management to understand where it considered there was susceptibility to fraud. We also considered performance targets and their propensity to influence efforts made by management to manage revenue and earnings. Where the risk was considered to be higher, including areas impacting key performance indicators or management remuneration, we performed audit procedures to address each identified fraud risk or other risk of material misstatement. These procedures included those on revenue recognition detailed above, the assessment of items identified by management as non-recurring and testing manual journals and were designed to provide reasonable assurance that the financial statements were free from material fraud or error.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Mr Eifion Roberts (Senior statutory auditor)
  
for and on behalf of
Langtons Professional Services Limited
 
Chartered Accountants
Statutory Auditor
  
The Plaza
100 Old Hall Street
Liverpool
L3 9QJ

16 September 2024
Page 7

 
M & A BEER HOLDINGS LIMITED
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
21,873,583
22,472,409

Cost of sales
  
(13,375,690)
(14,107,975)

Gross profit
  
8,497,893
8,364,434

Administrative expenses
  
(7,682,179)
(7,568,208)

Operating profit
  
815,714
796,226

Interest receivable and similar income
 7 
8,027
10,693

Interest payable and similar expenses
 8 
(224,679)
(161,154)

Profit before taxation
  
599,062
645,765

Tax on profit
 9 
(162,157)
(105,177)

Profit for the financial year
  
436,905
540,588

Profit for the year attributable to:
  

Non-controlling interests
  
22,964
38,464

Owners of the parent Company
  
413,941
502,124

  
436,905
540,588

There were no recognised gains and losses for 2023 or 2022 other than those included in the consolidated statement of comprehensive income.

There was no other comprehensive income for 2023 (2022:£NIL).

The notes on pages 19 to 38 form part of these financial statements.

Page 8

 
M & A BEER HOLDINGS LIMITED
REGISTERED NUMBER: 06661641

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 10 
6,498,110
5,924,613

Investments
 11 
2,610
2,610

Investment property
 12 
1,238,247
1,241,247

  
7,738,967
7,168,470

Current assets
  

Stocks
 13 
3,856,228
4,092,155

Debtors: amounts falling due after more than one year
 14 
1,313,865
707,545

Debtors: amounts falling due within one year
 14 
2,976,300
2,556,411

Cash at bank and in hand
 15 
31,810
399,241

  
8,178,203
7,755,352

Creditors: amounts falling due within one year
 16 
(5,647,057)
(5,060,600)

Net current assets
  
 
 
2,531,146
 
 
2,694,752

Total assets less current liabilities
  
10,270,113
9,863,222

Creditors: amounts falling due after more than one year
 17 
(2,917,373)
(3,082,087)

Provisions for liabilities
  

Deferred taxation
 21 
(779,000)
(644,300)

  
 
 
(779,000)
 
 
(644,300)

Net assets excluding pension asset
  
6,573,740
6,136,835

Net assets
  
6,573,740
6,136,835


Capital and reserves
  

Called up share capital 
 22 
200
200

Share premium account
 23 
1,467,971
1,467,971

Profit and loss account
 23 
4,119,237
3,705,296

Equity attributable to owners of the parent Company
  
5,587,408
5,173,467

Non-controlling interests
  
986,332
963,368

  
6,573,740
6,136,835


Page 9

 
M & A BEER HOLDINGS LIMITED
REGISTERED NUMBER: 06661641
    
CONSOLIDATED BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




M J T Beer
Director

The notes on pages 19 to 38 form part of these financial statements.

Page 10

 
M & A BEER HOLDINGS LIMITED
REGISTERED NUMBER: 06661641

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 10 
106,174
117,701

Investments
 11 
1,774,071
1,774,071

Investment property
  
3,572,864
3,575,864

  
5,453,109
5,467,636

Current assets
  

Debtors: amounts falling due after more than one year
 14 
1,313,865
707,545

Debtors: amounts falling due within one year
 14 
213,174
90,260

Cash at bank and in hand
 15 
23,910
142,391

  
1,550,949
940,196

Creditors: amounts falling due within one year
 16 
(2,188,859)
(734,409)

Net current (liabilities)/assets
  
 
 
(637,910)
 
 
205,787

Total assets less current liabilities
  
4,815,199
5,673,423

  

Creditors: amounts falling due after more than one year
 17 
(2,197,130)
(3,354,801)

Provisions for liabilities
  

Deferred taxation
 21 
(18,600)
(20,500)

  
 
 
(18,600)
 
 
(20,500)

Net assets excluding pension asset
  
2,599,469
2,298,122

Net assets
  
2,599,469
2,298,122


Capital and reserves
  

Called up share capital 
 22 
200
200

Share premium account
 23 
1,467,971
1,467,971

Profit and loss account carried forward
  
1,131,298
829,951

  
2,599,469
2,298,122


Page 11

 
M & A BEER HOLDINGS LIMITED
REGISTERED NUMBER: 06661641
    
COMPANY BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 September 2024.




M J T Beer
Director

The notes on pages 19 to 38 form part of these financial statements.

Page 12

 

 
M & A BEER HOLDINGS LIMITED


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023



Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Non-controlling interests
Total equity


£
£
£
£
£
£


At 1 January 2023
200
1,467,971
3,705,296
5,173,467
963,368
6,136,835





Profit for the year
-
-
413,941
413,941
22,964
436,905



At 31 December 2023
200
1,467,971
4,119,237
5,587,408
986,332
6,573,740




CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022



Called up share capital
Share premium account
Profit and loss account
Equity attributable to owners of parent Company
Non-controlling interests
Total equity


£
£
£
£
£
£


At 1 January 2022
200
1,467,971
3,203,172
4,671,343
924,904
5,596,247





Profit for the year
-
-
502,124
502,124
38,464
540,588



At 31 December 2022
200
1,467,971
3,705,296
5,173,467
963,368
6,136,835



Page 13

 

 
M & A BEER HOLDINGS LIMITED


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022

The notes on pages 19 to 38 form part of these financial statements.

Page 14

 
M & A BEER HOLDINGS LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2023
200
1,467,971
829,951
2,298,122



Profit for the year
-
-
301,347
301,347


At 31 December 2023
200
1,467,971
1,131,298
2,599,469


The notes on pages 19 to 38 form part of these financial statements.


COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2022


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 January 2022
200
1,467,971
516,421
1,984,592



Profit for the year
-
-
313,530
313,530


At 31 December 2022
200
1,467,971
829,951
2,298,122


The notes on pages 19 to 38 form part of these financial statements.

Page 15

 
M & A BEER HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
£
£

Cash flows from operating activities

Profit for the financial year
436,905
540,588

Adjustments for:

Depreciation of tangible assets
591,471
545,592

Loss on disposal of tangible assets
(28,133)
(2,450)

Interest paid
224,679
161,154

Interest received
(8,027)
(10,693)

Taxation charge
214,867
105,177

Decrease/(increase) in stocks
235,927
(185,087)

(Increase)/decrease in debtors
(252,875)
25,309

Decrease/(increase) in amounts owed by associates
203,634
(975,054)

(Decrease) in creditors
(360,645)
(282,126)

Corporation tax (paid)
(117,653)
(308,913)

Net cash generated from operating activities

1,140,150
(386,503)


Cash flows from investing activities

Purchase of tangible fixed assets
(1,182,633)
(867,142)

Sale of tangible fixed assets
48,798
52,776

Interest received
8,027
10,693

HP interest paid
(37,443)
(36,804)

Net cash from investing activities

(1,163,251)
(840,477)
Page 16

 
M & A BEER HOLDINGS LIMITED
 

CONSOLIDATED STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023


2023
2022

£
£



Cash flows from financing activities

Repayment of loans
(383,130)
(394,817)

Repayment of/new finance leases
216,594
(115,223)

Interest paid
(187,236)
(124,350)

Net cash used in financing activities
(353,772)
(634,390)

Net (decrease) in cash and cash equivalents
(376,873)
(1,861,370)

Cash and cash equivalents at beginning of year
396,533
2,257,903

Cash and cash equivalents at the end of year
19,660
396,533


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
31,810
399,241

Bank overdrafts
(12,150)
(2,708)

19,660
396,533


The notes on pages 19 to 38 form part of these financial statements.

Page 17

 
M & A BEER HOLDINGS LIMITED
 

CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 31 DECEMBER 2023




At 1 January 2023
Cash flows
At 31 December 2023
£

£

£

Cash at bank and in hand

399,241

(367,431)

31,810

Bank overdrafts

(2,708)

(9,442)

(12,150)

Debt due after 1 year

(2,474,740)

381,308

(2,093,432)

Debt due within 1 year

(407,986)

1,822

(406,164)

Finance leases

(883,704)

(216,594)

(1,100,298)


(3,369,897)
(210,337)
(3,580,234)

The notes on pages 19 to 38 form part of these financial statements.

Page 18

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

M & A Beer Holdings Limited is a private limited company, limited by shares, incorporated in England and Wales.  Its registered office is Windrush, 15 Links Hey Road, Caldy, Wirral, CH48 1NA.  The company number is 06661641.
These financial statement present the consolidated results of M & A Beer Holdings Limited and Beers Timber & Building Supplies Limited.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies (see note 3).

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the Group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 January 2014.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Group has transferred the significant risks and rewards of ownership to the buyer;
the Group retains neither continuing managerial involvement to the degree usually associated
Page 19

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Revenue (continued)

with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Group in independently administered funds.

Page 20

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 21

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, at variable rates as deemed fit to each capital item..

Depreciation is provided on the following basis:

Freehold property
-
No depreciation charged and in accordance with the property
Freehold / leasehold Property
-
No depreciation charged and in accordance with the property
Over a 20 year lease period
Over a 50 year lease period
Improvements to property
-
10% straight line
Racking and machinery
-
10% straight line  4.75% straight line
Motor vehicles
-
15% reducing balance
Fixtures & fittings
-
20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each balance sheet date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each balance sheet date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Group shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Consolidated statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 22

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Valuation of investments (continued)

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Consolidated statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Group's cash management.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party
Page 23

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.18
Financial instruments (continued)

to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 24

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.18
Financial instruments (continued)


Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The directors have made judgements regarding the depreciation of fixed assets, the provision of obsolete & damaged stock and the provision of bad & doubtful debts.

Page 25

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Sales
21,873,583
22,472,409

21,873,583
22,472,409


All turnover arose within the United Kingdom.


5.


Auditors' remuneration

During the year, the Group obtained the following services from the Company's auditors and their associates:


2023
2022
£
£

Fees payable to the Company's auditors and their associates for the audit of the consolidated and parent Company's financial statements
18,990
17,050

Fees payable to the Company's auditors and their associates in respect of:

All other services
1,666
1,400


6.


Employees

Staff costs, including directors' remuneration, were as follows:


Group
Group
2023
2022
£
£


Wages and salaries
3,747,387
3,564,777

Social security costs
350,229
339,649

Cost of defined contribution scheme
105,617
93,436

4,203,233
3,997,862


Page 26

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.Employees (continued)

The average monthly number of employees, including the directors, during the year was as follows:



Group
Group
Company
Company
        2023
        2022
        2023
        2022
            No.
            No.
            No.
            No.









Sales & administration
134
131
2
2


7.


Interest receivable

2023
2022
£
£


Other interest receivable
8,027
10,693

8,027
10,693


8.


Interest payable and similar expenses

2023
2022
£
£


Bank interest payable
187,236
124,350

Finance leases and hire purchase contracts
37,443
36,804

224,679
161,154

Page 27

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
26,690
64,177

Adjustments in respect of previous periods
767
-


Deferred tax


Origination and reversal of timing differences
134,700
41,000


Taxation on profit on ordinary activities
162,157
105,177

Factors affecting tax charge for the year

The tax assessed for the year is the same as (2022 - the same as) the standard rate of corporation tax in the UK of 23.52% (2022 - 19%) as set out below:

2023
2022
£
£


Profit on ordinary activities before tax
599,062
645,765


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.52% (2022 - 19%)
140,899
122,695

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
4,805
408

Adjustments to tax charge in respect of prior periods
767
-

Effect of a change in tax rate leading to an increase (decrease) in taxation
15,686
(17,926)

Total tax charge for the year
162,157
105,177


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 28

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Tangible fixed assets

Group






Freehold property
Leasehold  Property
Plant & machinery
Motor vehicles
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
2,626,302
708,807
3,046,289
2,650,020
9,031,418


Additions
138,798
-
421,799
622,037
1,182,634


Disposals
(2,059)
-
-
(52,956)
(55,015)



At 31 December 2023

2,763,041
708,807
3,468,088
3,219,101
10,159,037



Depreciation


At 1 January 2023
24,769
284,838
1,415,995
1,381,204
3,106,806


Charge for the year on owned assets
28,689
47,439
293,940
218,403
588,471


Disposals
-
-
-
(34,350)
(34,350)



At 31 December 2023

53,458
332,277
1,709,935
1,565,257
3,660,927



Net book value



At 31 December 2023
2,709,583
376,530
1,758,153
1,653,844
6,498,110



At 31 December 2022
2,601,534
423,969
1,630,293
1,268,817
5,924,613




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold property
2,709,584
2,601,534

Leasehold property
376,529
423,969

3,086,113
3,025,503


Page 29

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           10.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
597,324
553,988

Motor vehicles
1,165,242
773,106

1,762,566
1,327,094


Company






Plant & machinery

£

Cost or valuation


At 1 January 2023
242,670



At 31 December 2023

242,670



Depreciation


At 1 January 2023
124,969


Charge for the year on owned assets
11,527



At 31 December 2023

136,496



Net book value



At 31 December 2023
106,174



At 31 December 2022
117,701






Page 30

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Fixed asset investments

Group





Trade investments

£





At 1 January 2023
2,610




Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1,774,071



At 31 December 2023
1,774,071





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Beers Timber & Building Supplies Limited
Ordinary
83.06%

The aggregate of the share capital and reserves as at 31 December 2023 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

Beers Timber & Building Supplies Limited
5,822,501
135,558

Page 31

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Investment property

Group


Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 January 2023
815,850
425,397
1,241,247


Surplus on revaluation
-
(3,000)
(3,000)



At 31 December 2023
815,850
422,397
1,238,247

The 2023 valuations were made by the directors, on an open market value for existing use basis.




If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
1,274,247
1,274,247

1,274,247
1,274,247

Company





Freehold investment property
Long term leasehold investment property
Total

£
£
£



Valuation


At 1 January 2023
3,150,467
425,397
3,575,864


Surplus on revaluation
-
(3,000)
(3,000)



At 31 December 2023
3,150,467
422,397
3,572,864

The 2023 valuations were made by the directors, on an open market value for existing use basis.

Page 32

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Stocks

Group
Group
2023
2022
£
£

Finished goods and goods for resale
3,856,228
4,092,155

3,856,228
4,092,155



14.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due after more than one year

Due from participating interests
1,313,865
707,545
1,313,865
707,545

1,313,865
707,545
1,313,865
707,545


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Due within one year

Trade debtors
1,700,609
1,497,614
15,145
27,786

Amounts owed by joint ventures and associated undertakings
380,491
213,477
139,599
52,000

Other debtors
591,339
557,153
36,683
10,474

Prepayments and accrued income
303,861
288,167
21,747
-

2,976,300
2,556,411
213,174
90,260



15.


Cash and cash equivalents

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Cash at bank and in hand
31,810
399,241
23,910
142,391

Less: bank overdrafts
(12,150)
(2,708)
-
-

19,660
396,533
23,910
142,391


Page 33

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

16.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank overdrafts
12,150
2,708
-
-

Bank loans
406,164
407,986
114,920
116,742

Trade creditors
2,276,044
2,573,765
-
-

Amounts owed to associates
1,909,039
932,071
1,909,039
425,149

Corporation tax
26,690
64,177
26,690
64,177

Other taxation and social security
321,011
301,641
15,394
22,343

Obligations under finance lease and hire purchase contracts
350,517
350,517
-
-

Accruals and deferred income
345,442
427,735
122,816
105,998

5,647,057
5,060,600
2,188,859
734,409


Bank loans and overdrafts are secured by way of a fixed and floating charge over all assets of the group.
Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.


17.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
2,093,432
2,474,740
1,092,039
1,195,525

Net obligations under finance leases and hire purchase contracts
749,782
533,188
-
-

Amounts owed to group undertakings
-
-
1,105,091
2,159,276

Other creditors
74,159
74,159
-
-

2,917,373
3,082,087
2,197,130
3,354,801


Bank loans and overdrafts are secured by way of a fixed and floating charge over all assets of the group.
Net obligations under finance leases and hire purchase contracts are secured on the assets concerned.



Page 34

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

18.


Loans


Analysis of the maturity of loans is given below:


Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Amounts falling due within one year

Bank loans
406,164
407,986
114,920
116,742

Amounts falling due 1-2 years

Bank loans
416,794
416,549
123,088
122,843

Amounts falling due 2-5 years

Bank loans
1,004,198
988,311
424,303
408,417

Amounts falling due after more than 5 years

Bank loans
672,440
1,069,880
544,648
664,266

2,499,596
2,882,726
1,206,959
1,312,268



19.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

Group
Group
2023
2022
£
£

Within one year
350,517
368,781

Between 1-5 years
749,782
547,985

1,100,299
916,766

Page 35

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

20.


Financial instruments

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Financial assets

Financial assets measured at fair value through profit or loss
31,810
399,241
23,910
142,391

Financial assets that are debt instruments measured at amortised cost
3,431,648
2,429,110
1,505,293
797,805

3,463,458
2,828,351
1,529,203
940,196


Financial liabilities

Financial liabilities measured at amortised cost
(7,032,684)
(6,790,066)
(4,260,159)
(3,899,592)


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.
Financial assets that are debt instruments measured at amortised cost comprise of trade debtors, other debtors and accrued income.
Financial liabilities are measured at amortised costs comprise of trade creditors, other creditors, bank overdrafts, loans and accruals.

Page 36

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

21.


Deferred taxation


Group



2023


£






At beginning of year
(644,300)


Charged to profit or loss
(134,700)



At end of year
(779,000)

Company


2023


£






At beginning of year
(20,500)


Charged to profit or loss
1,900



At end of year
(18,600)

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Accelerated capital allowances
(779,000)
(644,300)
(18,600)
(20,500)

(779,000)
(644,300)
(18,600)
(20,500)


22.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



200 (2022 - 200) Ordinary shares of £1.00 each
200
200



23.


Reserves

Profit & loss account

Includes all current and prior period retained profits and losses.

Page 37

 
M & A BEER HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

24.


Pension commitments

The Group operates a defined contribution pension scheme.  The assets of the scheme are held separately from those of the Group in an independently administered fund.  The pension cost charge represents contributions payable by the Group to the fund and amounted to £105,617 (2022: £93,436). 


25.


Commitments under operating leases

At 31 December 2023 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
2023
2022
£
£

Not later than 1 year
22,000
22,000

Later than 1 year and not later than 5 years
61,000
61,000

Later than 5 years
99,100
121,000

182,100
204,000

26.


Related party transactions

Included within debtors is an amount of £1,694,356 (2022: £921,022) owed from related parties.
Included within creditors is an amount of £1,909,039 (2022: £932,071) owed to related parties.
During the year the group charged management fees of £208,361 (2022: £142,705) to related parties.
The group was charged a management fee of £nil (2022: £438,609) from related parties.
During the year the company received rent of £100,000 (2022: £100,000) from related parties.
All transactions were conducted at an arms length basis.


27.


Ultimate controlling party

The company is under the control of its directors.

 
Page 38