IRIS Accounts Production v24.3.0.553 05252279 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false false true false Ordinary B 1.00000 Ordinary A 1.00000 Ordinary C 1.00000 Ordinary D 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh052522792023-03-31052522792024-03-31052522792023-04-012024-03-31052522792022-03-31052522792022-04-012023-03-31052522792023-03-3105252279ns15:EnglandWales2023-04-012024-03-3105252279ns14:PoundSterling2023-04-012024-03-3105252279ns10:Director12023-04-012024-03-3105252279ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3105252279ns10:SmallEntities2023-04-012024-03-3105252279ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105252279ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105252279ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105252279ns10:FullAccounts2023-04-012024-03-310525227912023-04-012024-03-3105252279ns10:OrdinaryShareClass22023-04-012024-03-3105252279ns10:OrdinaryShareClass32023-04-012024-03-3105252279ns10:OrdinaryShareClass42023-04-012024-03-3105252279ns10:OrdinaryShareClass52023-04-012024-03-3105252279ns10:Director42023-04-012024-03-3105252279ns10:Director52023-04-012024-03-3105252279ns10:Director62023-04-012024-03-3105252279ns10:Director72023-04-012024-03-3105252279ns10:RegisteredOffice2023-04-012024-03-3105252279ns5:CurrentFinancialInstruments2024-03-3105252279ns5:CurrentFinancialInstruments2023-03-3105252279ns5:Non-currentFinancialInstruments2024-03-3105252279ns5:Non-currentFinancialInstruments2023-03-3105252279ns5:ShareCapital2024-03-3105252279ns5:ShareCapital2023-03-3105252279ns5:SharePremium2024-03-3105252279ns5:SharePremium2023-03-3105252279ns5:RetainedEarningsAccumulatedLosses2024-03-3105252279ns5:RetainedEarningsAccumulatedLosses2023-03-3105252279ns5:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3105252279ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-04-012024-03-3105252279ns5:ComputerSoftware2023-04-012024-03-3105252279ns5:LeaseholdImprovements2023-04-012024-03-3105252279ns5:PlantMachinery2023-04-012024-03-3105252279ns5:FurnitureFittings2023-04-012024-03-3105252279ns5:MotorVehicles2023-04-012024-03-3105252279ns5:ComputerEquipment2023-04-012024-03-3105252279ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3105252279ns5:ComputerSoftware2023-03-3105252279ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2024-03-3105252279ns5:ComputerSoftware2024-03-3105252279ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-03-3105252279ns5:ComputerSoftware2023-03-3105252279ns5:LeaseholdImprovements2023-03-3105252279ns5:PlantMachinery2023-03-3105252279ns5:FurnitureFittings2023-03-3105252279ns5:LeaseholdImprovements2024-03-3105252279ns5:PlantMachinery2024-03-3105252279ns5:FurnitureFittings2024-03-3105252279ns5:LeaseholdImprovements2023-03-3105252279ns5:PlantMachinery2023-03-3105252279ns5:FurnitureFittings2023-03-3105252279ns5:MotorVehicles2023-03-3105252279ns5:ComputerEquipment2023-03-3105252279ns5:MotorVehicles2024-03-3105252279ns5:ComputerEquipment2024-03-3105252279ns5:MotorVehicles2023-03-3105252279ns5:ComputerEquipment2023-03-3105252279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3105252279ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3105252279ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3105252279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3105252279ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3105252279ns5:LeasedAssetsHeldAsLessee2024-03-3105252279ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:LeasedAssetsHeldAsLessee2023-03-3105252279ns5:TaxLossesCarry-forwardsDeferredTax2024-03-3105252279ns5:TaxLossesCarry-forwardsDeferredTax2023-03-3105252279ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105252279ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105252279ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3105252279ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3105252279ns5:DeferredTaxation2023-03-3105252279ns5:DeferredTaxation2024-03-3105252279ns10:OrdinaryShareClass22024-03-3105252279ns10:OrdinaryShareClass32024-03-3105252279ns10:OrdinaryShareClass42024-03-3105252279ns10:OrdinaryShareClass52024-03-3105252279ns5:RetainedEarningsAccumulatedLosses2023-03-3105252279ns5:SharePremium2023-03-3105252279ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-310525227912023-04-012024-03-31
REGISTERED NUMBER: 05252279 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE COTSWOLD BREWING COMPANY LIMITED

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE COTSWOLD BREWING COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr H van Cutsem
Mr J P Hornby
Mr J Clarkson
Mr D Graham
Mr O D Jenkins





REGISTERED OFFICE: Hawkstone Brewery
College Farm, Stow Road
Bourton-On-The-Water
CHELTENHAM
Gloucestershire
GL54 2HN





REGISTERED NUMBER: 05252279 (England and Wales)





ACCOUNTANTS: Bronsens
Chartered Certified Accountants
Hillside
Albion Street
Chipping Norton
Oxfordshire
OX7 5BH

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 88,523 35,698
Tangible assets 5 347,901 410,197
436,424 445,895

CURRENT ASSETS
Stocks 6 608,932 712,463
Debtors 7 906,627 1,045,378
Cash at bank and in hand 203,875 109,556
1,719,434 1,867,397
CREDITORS
Amounts falling due within one year 8 1,601,695 1,517,639
NET CURRENT ASSETS 117,739 349,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

554,163

795,653

CREDITORS
Amounts falling due after more than one
year

9

121,651

207,680
NET ASSETS 432,512 587,973

CAPITAL AND RESERVES
Called up share capital 12 488 488
Share premium 13 1,192,202 1,192,202
Retained earnings 13 (760,178 ) (604,717 )
SHAREHOLDERS' FUNDS 432,512 587,973

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

BALANCE SHEET - continued
31 MARCH 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 21 November 2024 and were signed on its behalf by:





Mr O D Jenkins - Director


THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Cotswold Brewing Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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.

Website development are being amortised evenly over their estimated useful life of three years.

Trademarks is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance and 5% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.


THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 24 ) .

4. INTANGIBLE FIXED ASSETS
Website
development Trademarks Totals
£    £    £   
COST
At 1 April 2023 38,895 - 38,895
Additions 52,628 34,115 86,743
At 31 March 2024 91,523 34,115 125,638
AMORTISATION
At 1 April 2023 3,197 - 3,197
Amortisation for year 30,507 3,411 33,918
At 31 March 2024 33,704 3,411 37,115
NET BOOK VALUE
At 31 March 2024 57,819 30,704 88,523
At 31 March 2023 35,698 - 35,698

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 48,225 773,988 100,601
Additions 22,200 10,054 12,727
Disposals - (27,376 ) -
At 31 March 2024 70,425 756,666 113,328
DEPRECIATION
At 1 April 2023 31,907 552,285 31,621
Charge for year 4,033 55,848 21,938
Eliminated on disposal - (20,723 ) -
At 31 March 2024 35,940 587,410 53,559
NET BOOK VALUE
At 31 March 2024 34,485 169,256 59,769
At 31 March 2023 16,318 221,703 68,980

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 159,866 7,588 1,090,268
Additions - 3,640 48,621
Disposals - - (27,376 )
At 31 March 2024 159,866 11,228 1,111,513
DEPRECIATION
At 1 April 2023 60,080 4,178 680,071
Charge for year 19,957 2,488 104,264
Eliminated on disposal - - (20,723 )
At 31 March 2024 80,037 6,666 763,612
NET BOOK VALUE
At 31 March 2024 79,829 4,562 347,901
At 31 March 2023 99,786 3,410 410,197

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 180,010 123,119 303,129
DEPRECIATION
At 1 April 2023 75,764 31,814 107,578
Charge for year 22,990 18,261 41,251
At 31 March 2024 98,754 50,075 148,829
NET BOOK VALUE
At 31 March 2024 81,256 73,044 154,300
At 31 March 2023 104,246 91,305 195,551

6. STOCKS
31.3.24 31.3.23
£    £   
Stock of raw materials 83,081 116,599
Work-in-progress 22,691 68,692
Finished goods 503,160 527,172
608,932 712,463

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 347,041 547,396
Other debtors 183,109 198,742
Deferred tax asset
Tax losses carried forward 330,485 298,881
Prepayments 45,992 359
906,627 1,045,378

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 10) 41,861 41,861
Other loans (see note 10) 600,000 -
Hire purchase contracts 52,449 52,449
Trade creditors 698,398 914,270
Social security and other taxes 27,677 6,740
VAT 91,140 29,818
Pension creditor 2,239 771
Other creditors 2,666 220
Directors' current accounts - 34,251
Accrued expenses 85,265 437,259
1,601,695 1,517,639

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 10) 14,850 56,711
Hire purchase contracts 106,801 150,969
121,651 207,680

10. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loan due < 1 year 41,861 41,861
Shareholder loans 600,000 -
641,861 41,861

Amounts falling due between two and five years:
Bank loans - 2-5 years 14,850 56,711

11. DEFERRED TAX
£   
Balance at 1 April 2023 (298,881 )
Deferred tax asset movement (31,604 )
Balance at 31 March 2024 (330,485 )

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
10 Ordinary B £1 10 10
190 Ordinary A £1 190 190
98 Ordinary C £1 98 98
147 Ordinary D £1 147 147
14 Ordinary E £1 14 14
13 Ordinary E1 £1 13 13
16 Ordinary F £1 16 16
488 488

THE COTSWOLD BREWING COMPANY LIMITED (REGISTERED NUMBER: 05252279)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2023 (604,717 ) 1,192,202 587,485
Deficit for the year (155,461 ) (155,461 )
At 31 March 2024 (760,178 ) 1,192,202 432,024

14. POST BALANCE SHEET EVENTS

On 16 July 2024 the company completed on an equity raise totalling £1,997,951 from existing and new shareholders. The shareholder loans totalling £600,000 were repaid from this.