REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BISPHAM GREEN BREWERY COMPANY LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
BISPHAM GREEN BREWERY COMPANY LIMITED |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 29 February 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
BISPHAM GREEN BREWERY COMPANY LIMITED |
COMPANY INFORMATION |
for the Year Ended 29 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BANKERS: |
2 Triton Square |
Regent's Place |
London |
NW1 3AN |
SOLICITORS: |
13th Floor |
Silkhouse Court |
Tithebarn Street |
Liverpool |
L2 2LZ |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
STATEMENT OF FINANCIAL POSITION |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
STATEMENT OF FINANCIAL POSITION - continued |
29 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 29 February 2024 |
1. | STATUTORY INFORMATION |
Bispham Green Brewery Company Limited is a private company, limited by shares, registered in England & Wales. The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents income receivable from the Company's principal activities of operating public houses, restaurants and cafés and a hotel and leisure club and is net of value added tax. |
Sales of goods and services provided in the public houses, restaurants and cafés are recognised at the point of sale. |
Memberships at the leisure club are recognised over the period of the membership on a monthly basis. |
Hotel income is recognised at the end of each period of residence on a room by room basis. |
Deposits for events held at the hotel are recognised as income only when the event has been undertaken. |
Rental income |
Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease unless the lease payments are structured to increase in line with expected general inflation in which case the income is recognised as revenue in accordance with the expected payments. Rental income is included in other income. |
Tangible fixed assets |
Tangible fixed assets are stated at cost or valuation less depreciation and any impairment losses. |
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over it's estimated useful life: |
Freehold property | - | 1% on cost or valuation |
Investment property | - | not provided |
Long leasehold property | - | over the remaining term of the lease |
Improvements to property | - | 5% on cost |
Fixtures and fittings | - | 15% on cost |
Impairment of assets |
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit or loss. |
If an impairment loss is subsequently reversed, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset in prior periods. A reversal of an impairment loss is recognised immediately in the profit or loss. |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are measured at the lower of cost and selling price less cost to complete and sell. Cost is measured at the most recent purchase price and other costs incurred in bringing the stocks to their present location and condition. |
Financial instruments |
Trade and other debtors and trade creditors are measured at the transaction price. Other financial assets and liabilities, including related party loans shall be measured at amortised cost using the effective interest rate. Financial assets and liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. Amounts due to and from related undertakings, including directors, are repayable on demand and are measured at the undiscounted amount due. |
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 statement of financial position date. |
Taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Leases |
Leases are classified as finance leases when they transfer substantially all the risks and rewards of ownership of the leased assets to the company. All other leases are classified as operating leases. |
Rentals payable under operating leases are charged to the profit or loss on a straight-line basis over the lease term. The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease term on a straight-line basis. |
Employee 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. |
Short term employee benefits are recognised as an expense in the period in which they are incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
4. | TANGIBLE FIXED ASSETS |
Long | Improvements | Fixtures |
Freehold | leasehold | to | and |
property | property | property | fittings | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 March 2023 |
Additions |
At 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
Cost or valuation at 29 February 2024 is represented by: |
Long | Improvements | Fixtures |
Freehold | leasehold | to | and |
property | property | property | fittings | Totals |
£ | £ | £ | £ | £ |
Valuation in 2011 | 1,501,104 | 975,966 | - | - | 2,477,070 |
Valuation in 2020 | (183,652 | ) | - | - | - | (183,652 | ) |
Cost | 112,312 | 1,492,806 | 482,866 | 370,609 | 2,458,593 |
1,429,764 | 2,468,772 | 482,866 | 370,609 | 4,752,011 |
In the opinion of the directors, the fair value of the company's properties above at 29 February 2024 is not materially different from the net book value as stated in these financial statements. |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 March 2023 |
Disposals | ( |
) |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
The company's bankers, Santander hold a debenture by way of a fixed and floating charge over all assets of the company. MJ Ainscough has also provided a personal guarantee to the bank of £50,000. |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
M J Ainscough has provided a personal guarantee to the bank of £50,000. |
11. | RELATED PARTY DISCLOSURES |
During the year the company carried out the following transactions with other companies in which the directors have an interest:- |
The company sold goods to the value of £77,621 (2023 - £70,565) to an associated company and a balance of £Nil (2023 - £10,072) was outstanding at the year end. |
During the year the company had loan transactions with an associated company being loan repayments of £Nil (2023 - £Nil) and receipts of £110,000 (2022: £Nil). There is an amount of £818,207 (2023 - £708,207) owing at the year end. |
BISPHAM GREEN BREWERY COMPANY LIMITED (REGISTERED NUMBER: 03026958) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 29 February 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |