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Company registration number: 08907742
F Brewer & Son Limited
Unaudited filleted financial statements
31 March 2024
F Brewer & Son Limited
Contents
Statement of financial position
Notes to the financial statements
F Brewer & Son Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 231,830 190,464
_______ _______
231,830 190,464
Current assets
Debtors 6 23,496 48,859
Cash at bank and in hand 7,181 48,885
_______ _______
30,677 97,744
Creditors: amounts falling due
within one year 7 ( 472,147) ( 472,783)
_______ _______
Net current liabilities ( 441,470) ( 375,039)
_______ _______
Total assets less current liabilities ( 209,640) ( 184,575)
Creditors: amounts falling due
after more than one year 8 ( 9,500) -
_______ _______
Net liabilities ( 219,140) ( 184,575)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 219,240) ( 184,675)
_______ _______
Shareholders deficit ( 219,140) ( 184,575)
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 05 November 2024 , and are signed on behalf of the board by:
Mrs Anne Brewer
Director
Company registration number: 08907742
F Brewer & Son Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Four Columns, Broughton Hall, Skipton, North Yorkshire, BD23 3AE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have given assurances that they will continue to support the company financially and will not demand repayment of their loan accounts in the foreseeable future. They therefore consider that despite the net liability position, the company is still a going concern.
Consolidation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 10 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 15 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 April 2023 85,917 213,889 4,699 304,505
Additions - 140,375 - 140,375
Disposals - ( 76,163) - ( 76,163)
_______ _______ _______ _______
At 31 March 2024 85,917 278,101 4,699 368,717
_______ _______ _______ _______
Depreciation
At 1 April 2023 69,398 41,082 3,561 114,041
Charge for the year 8,594 30,836 242 39,672
Disposals - ( 16,826) - ( 16,826)
_______ _______ _______ _______
At 31 March 2024 77,992 55,092 3,803 136,887
_______ _______ _______ _______
Carrying amount
At 31 March 2024 7,925 223,009 896 231,830
_______ _______ _______ _______
At 31 March 2023 16,519 172,807 1,138 190,464
_______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 18,825 18,544
Other debtors 4,671 30,315
_______ _______
23,496 48,859
_______ _______
The debtors above include the following amounts falling due after more than one year:
2024 2023
£ £
Other debtors - 425
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 2,275 575
Social security and other taxes 2,761 5,276
Other creditors 467,111 466,932
_______ _______
472,147 472,783
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 9,500 -
_______ _______