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REGISTERED NUMBER: SC550935 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Glasgow Beer Works Limited

Glasgow Beer Works Limited (Registered number: SC550935)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Glasgow Beer Works Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A D Rimmer
D Wheatley





REGISTERED OFFICE: Pavilion 1
Finnieston Business Park
Minerva Way
Glasgow
G3 8AU





REGISTERED NUMBER: SC550935 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Glasgow Beer Works Limited (Registered number: SC550935)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 3,247 4,133
Tangible assets 5 16,650 31,210
Investments 6 51 51
19,948 35,394

CURRENT ASSETS
Stocks 2,000 20,000
Debtors 7 2,292 17,682
Cash at bank and in hand 53 100
4,345 37,782
CREDITORS
Amounts falling due within one year 8 825,194 806,926
NET CURRENT LIABILITIES (820,849 ) (769,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(800,901

)

(733,750

)

CREDITORS
Amounts falling due after more than one
year

9

13,940

21,637
NET LIABILITIES (814,841 ) (755,387 )

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings (814,844 ) (755,390 )
(814,841 ) (755,387 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Glasgow Beer Works Limited (Registered number: SC550935)

Balance Sheet - continued
31 January 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





D Wheatley - Director


Glasgow Beer Works Limited (Registered number: SC550935)

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

1. STATUTORY INFORMATION

Glasgow Beer Works Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

- Improvements to property depreciated over the period of the property lease

- Remaining fixed assets depreciated at a rate of 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


Glasgow Beer Works Limited (Registered number: SC550935)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 8,864
AMORTISATION
At 1 February 2023 4,731
Charge for year 886
At 31 January 2024 5,617
NET BOOK VALUE
At 31 January 2024 3,247
At 31 January 2023 4,133

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2023 195,616
Disposals (46,688 )
At 31 January 2024 148,928
DEPRECIATION
At 1 February 2023 164,406
Charge for year 14,560
Eliminated on disposal (46,688 )
At 31 January 2024 132,278
NET BOOK VALUE
At 31 January 2024 16,650
At 31 January 2023 31,210

Glasgow Beer Works Limited (Registered number: SC550935)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 February 2023
and 31 January 2024 51
NET BOOK VALUE
At 31 January 2024 51
At 31 January 2023 51

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 1,640 14,810
Other debtors 652 2,872
2,292 17,682

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 7,697 7,520
Trade creditors 3,844 4,413
Other creditors 813,653 794,993
825,194 806,926

Included within creditors is a balance of £633,077 (2023: £452,159) which is secured by way of floating charge over the assets of the company.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 13,940 21,637