Titanic Brewery Co Limited 04771970 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is that of the brewing of beer and trade of public houses Digita Accounts Production Advanced 6.30.9574.0 true true 04771970 2022-07-01 2023-06-30 04771970 2023-06-30 04771970 bus:Director1 1 2023-06-30 04771970 bus:Director4 1 2023-06-30 04771970 bus:OrdinaryShareClass1 2023-06-30 04771970 bus:OrdinaryShareClass2 2023-06-30 04771970 bus:OrdinaryShareClass3 2023-06-30 04771970 bus:OrdinaryShareClass4 2023-06-30 04771970 bus:OrdinaryShareClass5 2023-06-30 04771970 bus:OtherShareClass1 2023-06-30 04771970 core:CurrentFinancialInstruments 2023-06-30 04771970 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 04771970 core:Non-currentFinancialInstruments 2023-06-30 04771970 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 04771970 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 04771970 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2023-06-30 04771970 core:FurnitureFittingsToolsEquipment 2023-06-30 04771970 core:LandBuildings 2023-06-30 04771970 core:MotorVehicles 2023-06-30 04771970 core:OtherPropertyPlantEquipment 2023-06-30 04771970 bus:SmallEntities 2022-07-01 2023-06-30 04771970 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 04771970 bus:AbridgedAccounts 2022-07-01 2023-06-30 04771970 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 04771970 bus:RegisteredOffice 2022-07-01 2023-06-30 04771970 bus:Director1 2022-07-01 2023-06-30 04771970 bus:Director1 1 2022-07-01 2023-06-30 04771970 bus:Director4 2022-07-01 2023-06-30 04771970 bus:Director4 1 2022-07-01 2023-06-30 04771970 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 04771970 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 04771970 bus:OrdinaryShareClass3 2022-07-01 2023-06-30 04771970 bus:OrdinaryShareClass4 2022-07-01 2023-06-30 04771970 bus:OrdinaryShareClass5 2022-07-01 2023-06-30 04771970 bus:OtherShareClass1 2022-07-01 2023-06-30 04771970 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 04771970 core:Associate1 2022-07-01 2023-06-30 04771970 core:Associate1 countries:AllCountries 2022-07-01 2023-06-30 04771970 core:FurnitureFittings 2022-07-01 2023-06-30 04771970 core:FurnitureFittingsToolsEquipment 2022-07-01 2023-06-30 04771970 core:LandBuildings 2022-07-01 2023-06-30 04771970 core:MotorVehicles 2022-07-01 2023-06-30 04771970 core:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 04771970 core:PlantMachinery 2022-07-01 2023-06-30 04771970 countries:EnglandWales 2022-07-01 2023-06-30 04771970 2022-06-30 04771970 bus:Director1 1 2022-06-30 04771970 bus:Director4 1 2022-06-30 04771970 core:CostValuation core:Non-currentFinancialInstruments 2022-06-30 04771970 core:FurnitureFittingsToolsEquipment 2022-06-30 04771970 core:LandBuildings 2022-06-30 04771970 core:MotorVehicles 2022-06-30 04771970 core:OtherPropertyPlantEquipment 2022-06-30 04771970 2021-07-01 2022-06-30 04771970 2022-06-30 04771970 bus:Director1 1 2022-06-30 04771970 bus:Director4 1 2022-06-30 04771970 bus:OrdinaryShareClass1 2022-06-30 04771970 bus:OrdinaryShareClass2 2022-06-30 04771970 bus:OrdinaryShareClass3 2022-06-30 04771970 bus:OrdinaryShareClass4 2022-06-30 04771970 bus:OrdinaryShareClass5 2022-06-30 04771970 bus:OtherShareClass1 2022-06-30 04771970 core:CurrentFinancialInstruments 2022-06-30 04771970 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 04771970 core:Non-currentFinancialInstruments 2022-06-30 04771970 core:Non-currentFinancialInstruments core:AfterOneYear 2022-06-30 04771970 core:FurnitureFittingsToolsEquipment 2022-06-30 04771970 core:LandBuildings 2022-06-30 04771970 core:MotorVehicles 2022-06-30 04771970 core:OtherPropertyPlantEquipment 2022-06-30 04771970 bus:Director1 1 2021-07-01 2022-06-30 04771970 bus:Director4 1 2021-07-01 2022-06-30 04771970 core:Associate1 2021-07-01 2022-06-30 04771970 bus:Director1 1 2021-06-30 04771970 bus:Director4 1 2021-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04771970

Titanic Brewery Co Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 June 2023

 

Titanic Brewery Co Limited

(Registration number: 04771970)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,684,597

3,042,498

Investments

5

-

5,730

 

3,684,597

3,048,228

Current assets

 

Stocks

6

324,239

368,742

Debtors

7

681,286

722,796

Cash at bank and in hand

 

109,403

232,053

 

1,114,928

1,323,591

Prepayments and accrued income

 

201,548

80,441

Creditors: Amounts falling due within one year

8.1

(2,003,882)

(1,707,003)

Net current liabilities

 

(687,406)

(302,971)

Total assets less current liabilities

 

2,997,191

2,745,257

Creditors: Amounts falling due after more than one year

8.2

(896,988)

(1,063,454)

Provisions for liabilities

(585,648)

(361,059)

Net assets

 

1,514,555

1,320,744

Capital and reserves

 

Called up share capital

9

110

110

Retained earnings

1,514,445

1,320,634

Shareholders' funds

 

1,514,555

1,320,744

For the financial year ending 30 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Titanic Brewery Co Limited

(Registration number: 04771970)
Abridged Balance Sheet as at 30 June 2023

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 September 2024 and signed on its behalf by:
 

.........................................
D A Bott
Director

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3-4 Callender Place
Lingard Street
Burslem
Stoke on Trent
Staffordshire
ST6 1JL

These financial statements were authorised for issue by the Board on 24 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for on a received basis

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Tax

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

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold property

2% on cost

Plant and machinery

2.5% on reducing balance

Fixtures and fittings

10% on reducing balance

Motor vehicles

25% on reducing balance

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 287 (2022 - 230).

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2022

488,144

2,701,091

81,184

1,308,162

4,578,581

Additions

-

782,968

-

81,672

864,640

At 30 June 2023

488,144

3,484,059

81,184

1,389,834

5,443,221

Depreciation

At 1 July 2022

298,309

871,836

62,439

303,499

1,536,083

Charge for the year

9,763

182,925

4,686

25,167

222,541

At 30 June 2023

308,072

1,054,761

67,125

328,666

1,758,624

Carrying amount

At 30 June 2023

180,072

2,429,298

14,059

1,061,168

3,684,597

At 30 June 2022

189,835

1,829,255

18,745

1,004,663

3,042,498

Included within the net book value of land and buildings above is £180,072 (2022 - £189,835) in respect of freehold land and buildings.
 

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

5

Investments

Total
£

Cost or valuation

At 1 July 2022

5,730

Disposals

(5,730)

At 30 June 2023

-

Provision

Carrying amount

At 30 June 2023

-

At 30 June 2022

5,730

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Associates

White Horse Brewery Company Limited

Ordinary shares of £1

42.4%

42.4%

 

England

     

Associates

White Horse Brewery Company Limited

The principal activity of White Horse Brewery Company Limited is Brewery.

6

Stocks

2023
£

2022
£

Other inventories

324,239

368,742

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

7

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

8

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £252578 £ (2022 - £250864).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £882100 (2022 - £1,063,454).

Creditors include bank loans repayable by instalments of £14888 (2022 - nil) due after more than five years.

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0 each

-

-

-

-

Ordinary A shares of £0 each

-

-

-

-

A Ordinary shares of £0.10 each

275

28

275

28

B Ordinary shares of £0.10 each

275

28

275

28

C Ordinary shares of £0.10 each

275

28

275

28

D Ordinary shares of £0.10 each

275

28

275

28

 

1,100

110

1,100

110

 

Titanic Brewery Co Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

10

Related party transactions

Transactions with directors

2023

At 1 July 2022
£

Other payments made to company by director
£

At 30 June 2023
£

KA Bott

Directors loan

(65,282)

(3,800)

(69,082)

       
     

D A Bott

Directors loan

(8,389)

(31,800)

(40,189)

       
     

 

2022

At 1 July 2021
£

Other payments made to company by director
£

At 30 June 2022
£

KA Bott

Directors loan

24,518

(89,800)

(65,282)

       
     

D A Bott

Directors loan

(341,090)

332,701

(8,389)