Brewing Works Limited 13156088 false 2023-02-01 2024-01-31 2024-01-31 The principal activity of the company is manufacture of cider, other fruit wines and beer. Digita Accounts Production Advanced 6.30.9574.0 true false true 13156088 2023-02-01 2024-01-31 13156088 2024-01-31 13156088 core:CurrentFinancialInstruments 2024-01-31 13156088 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 13156088 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 13156088 core:FurnitureFittingsToolsEquipment 2024-01-31 13156088 bus:SmallEntities 2023-02-01 2024-01-31 13156088 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 13156088 bus:FilletedAccounts 2023-02-01 2024-01-31 13156088 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 13156088 bus:RegisteredOffice 2023-02-01 2024-01-31 13156088 bus:CompanySecretaryDirector1 2023-02-01 2024-01-31 13156088 bus:Director1 2023-02-01 2024-01-31 13156088 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 13156088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-01 2024-01-31 13156088 core:FurnitureFittingsToolsEquipment 2023-02-01 2024-01-31 13156088 core:OfficeEquipment 2023-02-01 2024-01-31 13156088 core:OtherRelatedParties 2023-02-01 2024-01-31 13156088 1 2023-02-01 2024-01-31 13156088 countries:UnitedKingdom 2023-02-01 2024-01-31 13156088 2023-01-31 13156088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 13156088 core:FurnitureFittingsToolsEquipment 2023-01-31 13156088 2022-02-01 2023-01-31 13156088 2023-01-31 13156088 core:CurrentFinancialInstruments 2023-01-31 13156088 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 13156088 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 13156088 core:FurnitureFittingsToolsEquipment 2023-01-31 iso4217:GBP xbrli:pure

Registration number: 13156088

Brewing Works Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

(Registration number: 13156088)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

33,505

24,289

Tangible assets

5

541

948

 

34,046

25,237

Current assets

 

Debtors

6

12,664

11,765

Cash at bank and in hand

 

167,821

69,399

 

180,485

81,164

Creditors: Amounts falling due within one year

7

(13,580)

(5,500)

Net current assets

 

166,905

75,664

Total assets less current liabilities

 

200,951

100,901

Provisions for liabilities

10,440

-

Net assets

 

211,391

100,901

Capital and reserves

 

Called up share capital

1,144

1,000

Share premium reserve

274,456

119,600

Retained earnings

(64,209)

(19,699)

Shareholders' funds

 

211,391

100,901

For the financial year ending 31 January 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.

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. 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 8 October 2024 and signed on its behalf by:
 

 

(Registration number: 13156088)
Balance Sheet as at 31 January 2024

.........................................
Mr Harrison Edwards
Director

.........................................
Mr Michael Edwards
Company secretary and director

 

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
18-20 High Street
Stevenage
Hertfordshire
SG1 3EJ
United Kingdom

The principal place of business is:
50 Western Way
Letchworth
Hertfordshire
SG6 4SJ

These financial statements were authorised for issue by the Board on 8 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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date the company has retained losses of £64,209 (2023: £19,699). The directors have pledged to continue to financially support the company for the forseeable future. On this basis, the directors feel that it is appropriate to prepare the financial statement on a going concern basis.

The company is in a product development phase and is expected to continue to experiance losses until the retail launch.

 

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

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Tax

The tax expense for the period comprises 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.

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

Office equipment

3 Years Straight Line

Intangible assets

Separately identifiable acquired trademarks, patents and licences are shown at historical cost and reviewed for impairment annually. All mounts are acquired from unconnected third parties.

Trademarks, patents, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Patents

10 Years Straight Line

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.

 

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

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 at the transaction price.

Trade debtors are reviewed on a quarterly basis for bad debts and any adjustment is made accordingly through the profit and loss account.

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 at the transaction price.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 1).

 

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 February 2023

24,289

24,289

Additions acquired separately

9,216

9,216

At 31 January 2024

33,505

33,505

Amortisation

Carrying amount

At 31 January 2024

33,505

33,505

At 31 January 2023

24,289

24,289

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,829

1,829

Additions

260

260

At 31 January 2024

2,089

2,089

Depreciation

At 1 February 2023

881

881

Charge for the year

667

667

At 31 January 2024

1,548

1,548

Carrying amount

At 31 January 2024

541

541

At 31 January 2023

948

948

6

Debtors

Current

2024
£

2023
£

Prepayments

660

-

Other debtors

12,004

11,765

 

12,664

11,765

 

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




 

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,342

-

Taxation and social security

577

-

Accruals and deferred income

1,325

1,658

Other creditors

336

3,842

13,580

5,500

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £0.01 each

114,378

1,143.78

100,000

1,000.00

         



 

9

Related party transactions

Summary of transactions with other related parties

At the balance sheet date the company owed £336 to H Edwards (2023: £24). There are no terms relating to the payment of interest or repayment of capital on this loan.
 

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr Harrison Edwards by virtue of his majority shareholding.