Registered number
08975741
Powderkeg Brewery Ltd
Unaudited Filleted Accounts
30 April 2024
Powderkeg Brewery Ltd
Registered number: 08975741
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 316,640 349,700
Current assets
Stocks 43,567 41,835
Debtors 4 58,488 50,734
Cash at bank and in hand 103,762 114,054
205,817 206,623
Creditors: amounts falling due within one year 5 (139,236) (144,360)
Net current assets 66,581 62,263
Total assets less current liabilities 383,221 411,963
Creditors: amounts falling due after more than one year 6 (55,155) (64,876)
Net assets 328,066 347,087
Capital and reserves
Called up share capital 102,273 102,273
Share premium 420,745 415,742
Profit and loss account (194,952) (170,928)
Shareholders' funds 328,066 347,087
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Magill
Director
Approved by the board on 6 November 2024
Powderkeg Brewery Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over the term of the lease
Plant and machinery over 20 years
Canning machine over 10 years
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Grants
Grants are accounted for under the accruals model. Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 15,351 482,129 24,127 521,607
Additions 380 3,099 - 3,479
At 30 April 2024 15,731 485,228 24,127 525,086
Depreciation
At 1 May 2023 7,676 152,322 11,909 171,907
Charge for the year 3,932 29,553 3,054 36,539
At 30 April 2024 11,608 181,875 14,963 208,446
Net book value
At 30 April 2024 4,123 303,353 9,164 316,640
At 30 April 2023 7,675 329,807 12,218 349,700
4 Debtors 2024 2023
£ £
Trade debtors 26,773 24,296
Deferred tax asset 17,870 12,813
Other debtors 13,845 13,625
58,488 50,734
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 11,873 8,712
Trade creditors 18,633 15,353
Taxation and social security costs 12,305 11,149
Other creditors 96,425 109,146
139,236 144,360
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,530 26,403
Other creditors 40,625 38,473
55,155 64,876
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 15,258 31,904
8 Other information
Powderkeg Brewery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
10 Hogsbrook Units
Woodbury Salterton
Devon
EX5 1PY
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