Company registration number 12427847 (England and Wales)
CANTERBURY CIDER LIMITED
Unaudited Financial Statements
For The Year Ended 31 January 2024
Pages For Filing With Registrar
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Company Information
Directors
C A Maylam
R P Maylam
Company number
12427847
Registered office
Bilting Grange Farm
Canterbury Road
Bilting
Ashford
Kent
United Kingdom
TN25 4HA
Accountants
Chavereys Limited
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Contents
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 6
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Accountants' Report To The Board Of Directors On The Preparation Of The Unaudited Statutory Financial Statements Of Canterbury Cider Limited For The Year Ended 31 January 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Canterbury Cider Limited for the year ended 31 January 2024 which comprise, the balance sheet 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Canterbury Cider Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Canterbury Cider Limited and state those matters that we have agreed to state to the board of directors of Canterbury Cider Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Canterbury Cider Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Canterbury Cider 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 profit of Canterbury Cider Limited. You consider that Canterbury Cider 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 Canterbury Cider 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.

Chavereys Limited
23 September 2024
Chartered Accountants
The Goods Shed
Jubilee Way
Faversham
Kent
England
ME13 8GD
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Balance Sheet
As At 31 January 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
1,171
1,357
Tangible assets
5
12,860
14,627
14,031
15,984
Current assets
Stocks
35,543
23,128
Debtors
6
1,327
3,254
Cash at bank and in hand
2,748
2,637
39,618
29,019
Creditors: amounts falling due within one year
7
(53,180)
(54,686)
Net current liabilities
(13,562)
(25,667)
Net assets/(liabilities)
469
(9,683)
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
466
(9,686)
Total equity
469
(9,683)

The notes on pages 3 to 6 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
C A Maylam
Director
Company registration number 12427847 (England and Wales)
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Notes To The Financial Statements
For The Year Ended 31 January 2024
- 3 -
1
Accounting policies
Company information

Canterbury Cider Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bilting Grange Farm, Canterbury Road, Bilting, Ashford, Kent, United Kingdom, TN25 4HA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Trademarks
10% straight line
Website
10% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
2,417
833
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2024
- 5 -
4
Intangible fixed assets
Trademarks
Website
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
560
1,301
1,861
Amortisation and impairment
At 1 February 2023
168
336
504
Amortisation charged for the year
56
130
186
At 31 January 2024
224
466
690
Carrying amount
At 31 January 2024
336
835
1,171
At 31 January 2023
392
965
1,357
5
Tangible fixed assets
Plant and machinery
£
Cost
At 1 February 2023
19,088
Additions
427
At 31 January 2024
19,515
Depreciation and impairment
At 1 February 2023
4,461
Depreciation charged in the year
2,194
At 31 January 2024
6,655
Carrying amount
At 31 January 2024
12,860
At 31 January 2023
14,627
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
490
-
0
Deferred tax asset (note 8)
837
3,254
1,327
3,254
Canterbury Cider Limited
CANTERBURY CIDER LIMITED
Notes To The Financial Statements (Continued)
For The Year Ended 31 January 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
51,434
50,266
Other creditors
36
1,180
Accruals and deferred income
1,710
3,240
53,180
54,686
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Assets
Assets
2024
2023
Balances:
£
£
Accelerated capital allowances
(2,443)
(2,779)
Tax losses
3,280
6,033
837
3,254
2024
Movements in the year:
£
Asset at 1 February 2023
(3,254)
Charge to profit or loss
2,417
Asset at 31 January 2024
(837)
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