Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr J J G Conibear 25/11/2022 Mr E J M Cooke 25/11/2022 Mr P J Harbottle 25/11/2022 Mr E Lofthouse 01/05/2016 Mr A Turner 25/11/2022 29 October 2024 The principal activity of the Company during the financial year was that of manufacturing beer. 07741321 2024-01-31 07741321 bus:Director1 2024-01-31 07741321 bus:Director2 2024-01-31 07741321 bus:Director3 2024-01-31 07741321 bus:Director4 2024-01-31 07741321 bus:Director5 2024-01-31 07741321 2023-01-31 07741321 core:CurrentFinancialInstruments 2024-01-31 07741321 core:CurrentFinancialInstruments 2023-01-31 07741321 core:Non-currentFinancialInstruments 2024-01-31 07741321 core:Non-currentFinancialInstruments 2023-01-31 07741321 core:ShareCapital 2024-01-31 07741321 core:ShareCapital 2023-01-31 07741321 core:SharePremium 2024-01-31 07741321 core:SharePremium 2023-01-31 07741321 core:RetainedEarningsAccumulatedLosses 2024-01-31 07741321 core:RetainedEarningsAccumulatedLosses 2023-01-31 07741321 core:LandBuildings 2023-01-31 07741321 core:PlantMachinery 2023-01-31 07741321 core:Vehicles 2023-01-31 07741321 core:FurnitureFittings 2023-01-31 07741321 core:OfficeEquipment 2023-01-31 07741321 core:LandBuildings 2024-01-31 07741321 core:PlantMachinery 2024-01-31 07741321 core:Vehicles 2024-01-31 07741321 core:FurnitureFittings 2024-01-31 07741321 core:OfficeEquipment 2024-01-31 07741321 2023-02-01 2024-01-31 07741321 bus:FilletedAccounts 2023-02-01 2024-01-31 07741321 bus:SmallEntities 2023-02-01 2024-01-31 07741321 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07741321 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07741321 bus:Director1 2023-02-01 2024-01-31 07741321 bus:Director2 2023-02-01 2024-01-31 07741321 bus:Director3 2023-02-01 2024-01-31 07741321 bus:Director4 2023-02-01 2024-01-31 07741321 bus:Director5 2023-02-01 2024-01-31 07741321 core:LandBuildings core:TopRangeValue 2023-02-01 2024-01-31 07741321 core:PlantMachinery core:TopRangeValue 2023-02-01 2024-01-31 07741321 core:Vehicles core:TopRangeValue 2023-02-01 2024-01-31 07741321 core:FurnitureFittings core:TopRangeValue 2023-02-01 2024-01-31 07741321 core:OfficeEquipment core:TopRangeValue 2023-02-01 2024-01-31 07741321 2022-02-01 2023-01-31 07741321 core:LandBuildings 2023-02-01 2024-01-31 07741321 core:PlantMachinery 2023-02-01 2024-01-31 07741321 core:Vehicles 2023-02-01 2024-01-31 07741321 core:FurnitureFittings 2023-02-01 2024-01-31 07741321 core:OfficeEquipment 2023-02-01 2024-01-31 07741321 core:Non-currentFinancialInstruments 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Company No: 07741321 (England and Wales)

THE HARBOUR BREWING COMPANY LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

THE HARBOUR BREWING COMPANY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

THE HARBOUR BREWING COMPANY LIMITED

BALANCE SHEET

As at 31 January 2024
THE HARBOUR BREWING COMPANY LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1,402,797 1,336,725
1,402,797 1,336,725
Current assets
Stocks 4 321,440 407,959
Debtors 5 211,949 270,878
Cash at bank and in hand 89,070 41,044
622,459 719,881
Creditors: amounts falling due within one year 6 ( 725,468) ( 910,111)
Net current liabilities (103,009) (190,230)
Total assets less current liabilities 1,299,788 1,146,495
Creditors: amounts falling due after more than one year 7 ( 1,106,400) ( 596,496)
Net assets 193,388 549,999
Capital and reserves
Called-up share capital 130 130
Share premium account 1,000,301 1,000,301
Profit and loss account ( 807,043 ) ( 450,432 )
Total shareholders' funds 193,388 549,999

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 financial statements of The Harbour Brewing Company Limited (registered number: 07741321) were approved and authorised for issue by the Board of Directors on 29 October 2024. They were signed on its behalf by:

Mr J J G Conibear
Director
THE HARBOUR BREWING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
THE HARBOUR BREWING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

The Harbour Brewing Company Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 St Mary's Arcade, Wallingford, Oxon, OX10 0EY, United Kingdom. The principal place of business is Tretoil Farm, Bodmin, Cornwall, PL30 5BA.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings 13 years straight line
Plant and machinery 13 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 15 16

3. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £ £
Cost
At 01 February 2023 41,204 2,193,999 77,638 54,943 17,965 2,385,749
Additions 0 152,577 65,529 2,530 16,493 237,129
Disposals 0 0 ( 14,219) 0 0 ( 14,219)
At 31 January 2024 41,204 2,346,576 128,948 57,473 34,458 2,608,659
Accumulated depreciation
At 01 February 2023 23,843 888,759 70,702 52,046 13,674 1,049,024
Charge for the financial year 3,170 145,312 18,401 628 3,546 171,057
Disposals 0 0 ( 14,219) 0 0 ( 14,219)
At 31 January 2024 27,013 1,034,071 74,884 52,674 17,220 1,205,862
Net book value
At 31 January 2024 14,191 1,312,505 54,064 4,799 17,238 1,402,797
At 31 January 2023 17,361 1,305,240 6,936 2,897 4,291 1,336,725

4. Stocks

2024 2023
£ £
Stocks 321,440 407,959

5. Debtors

2024 2023
£ £
Trade debtors 171,134 201,617
Amounts owed by Group undertakings 487 44,206
Other debtors 40,328 25,055
211,949 270,878

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 100,063 106,800
Trade creditors 208,847 529,149
Amounts owed to Group undertakings 53,862 1,118
Other taxation and social security 64,842 25,234
Obligations under finance leases and hire purchase contracts 62,746 54,100
Other creditors 235,108 193,710
725,468 910,111

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 288,444 366,300
Obligations under finance leases and hire purchase contracts 130,247 143,868
Other creditors 687,709 86,328
1,106,400 596,496

There are no amounts included above in respect of which any security has been given by the small entity.

8. Ultimate controlling party

Parent Company:

The Camel's Back Limited
4 St Mary's Arcade
Wallingford
Oxfordshire
OX10 0EY