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Registration number: 09853453

Four Pillars Brewery Limited

trading as Pillars Brewery

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Company Information

Directors

G M Litton

E M Razaq

O A Razaq

S H Razaq

Registered office

Unit 2 Ravenswood Industrial Estate
Walthamstow
London
E17 9HQ

Accountants

Grant Sellers Limited
Bank Court
Manor Road
Verwood
Dorset
BH31 6DY

 

Four Pillars Brewery Limited

trading as Pillars Brewery

(Registration number: 09853453)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

960,056

889,241

Current assets

 

Stocks

5

45,625

38,905

Debtors

6

198,867

178,388

Cash at bank and in hand

 

8,918

10,449

 

253,410

227,742

Creditors: Amounts falling due within one year

7

(390,638)

(365,330)

Net current liabilities

 

(137,228)

(137,588)

Total assets less current liabilities

 

822,828

751,653

Creditors: Amounts falling due after more than one year

7

(485,013)

(583,956)

Provisions for liabilities

(1,647)

-

Net assets

 

336,168

167,697

Capital and reserves

 

Called up share capital

8

1,263

1,263

Share premium reserve

248,791

248,791

Retained earnings

86,114

(82,357)

Shareholders' funds

 

336,168

167,697

For the financial year ending 31 March 2024 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.

 

Four Pillars Brewery Limited

trading as Pillars Brewery

(Registration number: 09853453)
Balance Sheet as at 31 March 2024 (continued)

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 4 October 2024 and signed on its behalf by:
 

.........................................
G M Litton
Director

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit 2 Ravenswood Industrial Estate
Walthamstow
London
E17 9HQ

These financial statements were authorised for issue by the Board on 4 October 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 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 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.

The accounts are presented in pound sterling and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis. At the balance sheet date the company had net current liabilites of £137,227 and net assets of £313,655. The directors have agreed to support the company in future and therefore it is appropriate to prepare the financial statements 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.

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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

Long Leasehold improvements

10% written down value

Plant and machinery

straight line over 30 years

Motor vehicles

20% written down value

Computer equipment

straight line over 3 years

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2023 - 16).

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Long leasehold land and buildings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

66,178

1,111,107

3,459

19,250

1,199,994

Additions

-

100,359

851

18,989

120,199

At 31 March 2024

66,178

1,211,466

4,310

38,239

1,320,193

Depreciation

At 1 April 2023

33,085

268,432

2,306

6,930

310,753

Charge for the year

3,309

38,572

1,241

6,262

49,384

At 31 March 2024

36,394

307,004

3,547

13,192

360,137

Carrying amount

At 31 March 2024

29,784

904,462

763

25,047

960,056

At 31 March 2023

33,093

842,675

1,153

12,320

889,241

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Stocks

2024
£

2023
£

Other inventories

45,625

38,905

6

Debtors

Current

2024
£

2023
£

Trade debtors

154,169

83,361

Prepayments

17,331

20,004

Other debtors

27,367

75,023

 

198,867

178,388

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

150,206

110,687

Trade creditors

 

64,249

83,197

Taxation and social security

 

107,856

53,800

Accruals and deferred income

 

18,124

7,150

Other creditors

 

50,203

110,496

 

390,638

365,330

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

485,013

583,956

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £0.10 each

12,553

1,255

12,553

1,255

Ordinary B Shares of £1 each

4

4

4

4

 

12,557

1,259

12,557

1,259

 

Four Pillars Brewery Limited

trading as Pillars Brewery

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

60,000

108,000

Hire purchase contracts

94,456

70,628

Other borrowings

330,557

405,328

485,013

583,956

2024
£

2023
£

Current loans and borrowings

Bank borrowings

48,000

82,725

Bank overdrafts

2,908

3,382

Hire purchase contracts

74,722

-

Other borrowings

24,576

24,580

150,206

110,687