Silverfin false 27 November 2024 20 November 2024 Gregory Smye-Rumsby Dixon Wilson Audit Services LLP 201 18,346 false true 31/03/2024 01/04/2023 31/03/2024 H J Parente 11/07/2018 I Goodwin 17/04/2013 C E Monk 12/07/2013 20 November 2024 no description of principal activity 07051605 2024-03-31 07051605 bus:Director1 2024-03-31 07051605 bus:Director2 2024-03-31 07051605 bus:Director3 2024-03-31 07051605 2023-03-31 07051605 core:CurrentFinancialInstruments 2024-03-31 07051605 core:CurrentFinancialInstruments 2023-03-31 07051605 core:ShareCapital 2024-03-31 07051605 core:ShareCapital 2023-03-31 07051605 core:RetainedEarningsAccumulatedLosses 2024-03-31 07051605 core:RetainedEarningsAccumulatedLosses 2023-03-31 07051605 core:LeaseholdImprovements 2023-03-31 07051605 core:PlantMachinery 2023-03-31 07051605 core:Vehicles 2023-03-31 07051605 core:OfficeEquipment 2023-03-31 07051605 core:LeaseholdImprovements 2024-03-31 07051605 core:PlantMachinery 2024-03-31 07051605 core:Vehicles 2024-03-31 07051605 core:OfficeEquipment 2024-03-31 07051605 core:DeferredTaxation 2023-03-31 07051605 core:DeferredTaxation 2024-03-31 07051605 core:OtherDeferredTax 2024-03-31 07051605 core:OtherDeferredTax 2023-03-31 07051605 2023-04-01 2024-03-31 07051605 bus:FilletedAccounts 2023-04-01 2024-03-31 07051605 bus:SmallEntities 2023-04-01 2024-03-31 07051605 bus:Audited 2023-04-01 2024-03-31 07051605 2022-04-01 2023-03-31 07051605 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07051605 bus:Director1 2023-04-01 2024-03-31 07051605 bus:Director2 2023-04-01 2024-03-31 07051605 bus:Director3 2023-04-01 2024-03-31 07051605 core:LeaseholdImprovements core:BottomRangeValue 2023-04-01 2024-03-31 07051605 core:LeaseholdImprovements core:TopRangeValue 2023-04-01 2024-03-31 07051605 core:PlantMachinery core:BottomRangeValue 2023-04-01 2024-03-31 07051605 core:PlantMachinery core:TopRangeValue 2023-04-01 2024-03-31 07051605 core:Vehicles core:TopRangeValue 2023-04-01 2024-03-31 07051605 core:OfficeEquipment core:BottomRangeValue 2023-04-01 2024-03-31 07051605 core:OfficeEquipment core:TopRangeValue 2023-04-01 2024-03-31 07051605 core:LeaseholdImprovements 2023-04-01 2024-03-31 07051605 core:PlantMachinery 2023-04-01 2024-03-31 07051605 core:Vehicles 2023-04-01 2024-03-31 07051605 core:OfficeEquipment 2023-04-01 2024-03-31 07051605 core:DeferredTaxation 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Company No: 07051605 (England and Wales)

WELBECK ABBEY BREWERY LIMITED

Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

WELBECK ABBEY BREWERY LIMITED

Financial Statements

For the financial year ended 31 March 2024

Contents

WELBECK ABBEY BREWERY LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
WELBECK ABBEY BREWERY LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS H J Parente
I Goodwin
C E Monk
REGISTERED OFFICE Portland Estate Office Cavendish House
Welbeck
Worksop
S80 3LL
United Kingdom
COMPANY NUMBER 07051605 (England and Wales)
AUDITOR Dixon Wilson Audit Services LLP
22 Chancery Lane
London
WC2A 1LS
WELBECK ABBEY BREWERY LIMITED

BALANCE SHEET

As at 31 March 2024
WELBECK ABBEY BREWERY LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 118,656 140,827
118,656 140,827
Current assets
Stocks 46,358 32,981
Debtors 5 71,129 48,293
Cash at bank and in hand 10,099 17,709
127,586 98,983
Creditors: amounts falling due within one year 6 ( 109,043) ( 102,839)
Net current assets/(liabilities) 18,543 (3,856)
Total assets less current liabilities 137,199 136,971
Provision for liabilities 7 ( 27,310) ( 26,881)
Net assets 109,889 110,090
Capital and reserves
Called-up share capital 200 200
Profit and loss account 109,689 109,890
Total shareholders' funds 109,889 110,090

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Welbeck Abbey Brewery Limited (registered number: 07051605) were approved and authorised for issue by the Board of Directors on 20 November 2024. They were signed on its behalf by:

I Goodwin
Director
WELBECK ABBEY BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
WELBECK ABBEY BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Welbeck Abbey Brewery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Portland Estate Office Cavendish House, Welbeck, Worksop, S80 3LL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements are prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of sales discounts and value added tax, in respect of the sale of brewery products. Turnover is recognised when the products are delivered to customers.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Under an agreement between companies within the group, a company that surrenders tax losses for group relief is entitled to receive compensation from the claimant company equal to the amount of relief in terms of tax saving generated from the loss relief claim. The compensation is recognised in the year to which the loss relief claim relates and is recorded as a tax credit (in the case of the surrendering company) and a tax expense (in the case of the claimant company).

Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but are not reversed by the balance sheet date, except as required by FRS 102.

Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 2 - 20 years straight line
Plant and machinery 5 - 8 years straight line
Vehicles 5 years straight line
Office equipment 3 - 10 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The company as lessee
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Stocks

Stock is stated at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.

Dividends

Final dividend distributions to the company’s shareholders are recognised in the financial statements in the reporting period in which the dividends are approved. Interim dividend distributions to the company’s shareholders are recognised when they are paid.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 10 10

3. Dividends on equity shares

2024 2023
£ £
Amounts recognised as distributions to equity holders in the financial year:
Interim dividend for the financial year ended 31 March 2024 of £Nil (2023: £100) per ordinary share 0 20,000

4. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Office equipment Total
£ £ £ £ £
Cost
At 01 April 2023 14,604 234,188 52,384 15,570 316,746
Additions 0 4,750 0 0 4,750
At 31 March 2024 14,604 238,938 52,384 15,570 321,496
Accumulated depreciation
At 01 April 2023 11,511 136,776 12,648 14,984 175,919
Charge for the financial year 1,401 15,738 9,398 384 26,921
At 31 March 2024 12,912 152,514 22,046 15,368 202,840
Net book value
At 31 March 2024 1,692 86,424 30,338 202 118,656
At 31 March 2023 3,093 97,412 39,736 586 140,827

5. Debtors

2024 2023
£ £
Trade debtors 56,420 45,237
Other debtors 14,709 3,056
71,129 48,293

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 24,108 19,504
Amounts owed to group undertakings (note 8) 19,903 20,389
Other taxation and social security 20,424 15,319
Other creditors 44,608 47,627
109,043 102,839

7. Provision for liabilities

Deferred taxation Total
£ £
At 01 April 2023 26,881 26,881
Charged to the Profit and Loss Account 429 429
At 31 March 2024 27,310 27,310

Deferred tax

2024 2023
£ £
Other timing differences 27,310 26,881
Provision for deferred tax 27,310 26,881

8. Related party transactions

Transactions with related parties or connected persons

Summary of transactions with parent

During the year the company made the following related party transactions:

The Welbeck Estates Company Limited owns 90% of the shares of the company. During the year the company was charged £19,903 (2023- £20,389) by The Welbeck Estates Company Limited for expenses paid on the company's behalf. At the balance sheet date the amount due to The Welbeck Estates Company Limited was £19,903 (2023 - £20,389).

9. Audit Opinion

The auditor's report on the accounts for the financial year ended 31 March 2024 was unqualified.

The audit report was signed by Gregory Smye-Rumsby on behalf of Dixon Wilson Audit Services LLP.

10. Ultimate controlling party

Parent Company:

The Welbeck Estates Company Limited
Portland Estate Office
Cavendish House
Welbeck
Worksop
Nottinghamshire
S80 3LL