REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
FOR |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
FOR |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 | to | 7 |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
31.12.23 | 1.1.23 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
The Leeds Brewery Holding Company Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
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. |
The judgements that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
(i) Estimated useful lives and residual values of fixed assets |
As described in the notes to the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during the current and prior accounting periods. |
(ii) Estimated useful life of goodwill acquired |
As described in the notes to the financial statements, amortisation of acquired goodwill has been based on an estimated useful life deemed appropriate by the directors. This is reviewed annually and revised as appropriate. |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Revenue recognition |
Turnover is the fair value of consideration received or receivable for goods and services provided in the normal course of the business, net of discounts, volume rebates and VAT. Sales of beverages and food are recognised when these goods are delivered to our patrons.Property rental income is recognised on a straight line basis over the life of the lease. Amusement machine royalties are recognised in the accounting period to which the income relates. |
Goodwill |
Tangible fixed assets |
Short leasehold | - |
Fixtures and fittings | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Debt instruments are subsequently measured at amortised cost. |
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. |
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |
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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Going concern |
The financial statements have been prepared on a going concern basis. The company meets its day to day working capital obligations from cash generated by its operations and it also relies on the financial support of its parent company, Camerons Brewery Limited. After reviewing the company's and the parent company’s forecasts and projections, the directors are confident that the company has adequate resources to continue in operational existence for the foreseeable future |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | AUDITORS' REMUNERATION |
Period | Period |
2.1.23 | 3.1.22 |
to | to |
31.12.23 | 1.1.23 |
£ | £ |
Fees payable to the company's auditors for the audit of the company's financial statements |
5,716 |
7,383 |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 2 January 2023 |
and 31 December 2023 |
AMORTISATION |
At 2 January 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 1 January 2023 |
6. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and |
leasehold | fittings | Totals |
£ | £ | £ |
COST |
At 2 January 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 2 January 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 1 January 2023 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 1.1.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.23 | 1.1.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.23 | 1.1.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | SECURED DEBTS |
A mortgage charge exists in favour of HSBC Bank Plc dated 7th March 2018 incorporating a fixed charge and negative pledge over the following leasehold land and buildings: The Midnight Bell, 101 Water Lane, Leeds. |
A mortgage charge exists in favour of HSBC Bank Plc dated 7th June 2017 incorporating a fixed charge and negative pledge over the following leasehold land and buildings: The Duke of York, 3-4 and 4A Kings Square, York. |
A mortgage charge exists in favour of HSBC Bank Plc dated 13th December 2016 incorporating a fixed charge and negative pledge over the following leasehold land and buildings: The Lamb & Flag, 1 Church Row, Leeds. The Eagle & Child, 9-11 High Petergate, York. The Crowd of Favours, 4-12 Harper Street, Leeds and The White Swan, Swan Street, Leeds. |
A mortgage charge exists in favour of HSBC Bank Plc dated 1st August 2016 incorporating a fixed charge and negative pledge over the following leasehold land and buildings: The Brewery Tap, 18-24 New Station Street, Leeds. |
A fixed and floating charge and negative pledge exists dated 6th July 2016 in favour of HSBC Bank Plc, secured against all land and intellectual property. |
11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
THE LEEDS BREWERY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 07681733) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 2 JANUARY 2023 TO 31 DECEMBER 2023 |
12. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption from the disclosures required by paragraph 33.1A of Financial Reporting Standard 102 regarding transactions between fellow group companies. |
13. | ULTIMATE CONTROLLING PARTY |
The ultimate parent undertaking is Camerons Brewery Limited, a company registered in England and Wales. Camerons Brewery Limited is the only group company that prepares consolidated financial statements, including the accounts of this company. Its principle place of business and registered office is Main Gate House, Waldon Street, Hartlepool, Cleveland, TS24 7QS. |