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Registered number: 11294980
Polly's Brew Co. Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11294980
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,564 1,564
Tangible Assets 5 464,907 414,712
466,471 416,276
CURRENT ASSETS
Debtors 6 578,698 325,003
Cash at bank and in hand 732,911 690,104
1,311,609 1,015,107
Creditors: Amounts Falling Due Within One Year 7 (527,378 ) (486,435 )
NET CURRENT ASSETS (LIABILITIES) 784,231 528,672
TOTAL ASSETS LESS CURRENT LIABILITIES 1,250,702 944,948
Creditors: Amounts Falling Due After More Than One Year 8 (45,798 ) (56,131 )
NET ASSETS 1,204,904 888,817
CAPITAL AND RESERVES
Called up share capital 10 1 1
Profit and Loss Account 1,204,903 888,816
SHAREHOLDERS' FUNDS 1,204,904 888,817
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Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Sean Wheldon
Director
24/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Polly's Brew Co. Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11294980 . The registered office is Holland Farm Rhyd Y Goleu, Black Brook, Mold, Flintshire, CH7 6LU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 25% straight line
Computer Equipment 33% straight line
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 11 (2023: 12)
11 12
4. Intangible Assets
Other
£
Cost
As at 1 May 2023 1,564
As at 30 April 2024 1,564
Net Book Value
As at 30 April 2024 1,564
As at 1 May 2023 1,564
5. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 May 2023 746,007 12,948 15,827 774,782
Additions 149,646 32,958 9,567 192,171
As at 30 April 2024 895,653 45,906 25,394 966,953
Depreciation
As at 1 May 2023 339,776 11,437 8,857 360,070
Provided during the period 129,808 7,004 5,164 141,976
As at 30 April 2024 469,584 18,441 14,021 502,046
...CONTINUED
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Net Book Value
As at 30 April 2024 426,069 27,465 11,373 464,907
As at 1 May 2023 406,231 1,511 6,970 414,712
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 196,742 163,374
Prepayments and accrued income - 300
Other debtors 750 750
Director's loan account 229,931 63,984
Amounts owed by group undertakings 75,000 75,000
502,423 303,408
Due after more than one year
Corporation tax recoverable assets 76,275 21,595
76,275 21,595
578,698 325,003
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,411 40,503
Trade creditors 149,321 111,101
Bank loans and overdrafts - 8,179
Other creditors 113,971 147,086
Taxation and social security 229,675 179,566
527,378 486,435
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 45,798 56,131
45,798 56,131
9. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 34,411 40,503
Later than one year and not later than five years 45,798 56,131
80,209 96,634
80,209 96,634
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10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 May 2023 Amounts advanced Amounts repaid Amounts written off As at 30 April 2024
£ £ £ £ £
Mr Sean Wheldon 63,985 162,016 - - 226,001
The above loan is unsecured and repayable on demand.
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