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REGISTERED NUMBER: 08983113 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Nethergate Brewery Co Ltd

Nethergate Brewery Co Ltd (Registered number: 08983113)

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


Nethergate Brewery Co Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: R Burge
G J Burlison
C F Eaton
J Nevison Grainger
J S Holberry





REGISTERED OFFICE: Rodbridge Corner
Long Melford
Sudbury
Suffolk
CO10 9HJ





REGISTERED NUMBER: 08983113 (England and Wales)





ACCOUNTANTS: FWD Accounts Limited
7 Forbes Business Centre
Kempson Way
Bury St Edmunds
Suffolk
IP32 7AR

Nethergate Brewery Co Ltd (Registered number: 08983113)

Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 1,233 1,433
Tangible assets 4 1,884,776 1,854,811
1,886,009 1,856,244

CURRENT ASSETS
Stocks 286,089 244,422
Debtors 5 134,710 133,705
Cash at bank and in hand 77,447 11,517
498,246 389,644
CREDITORS
Amounts falling due within one year 6 268,898 284,320
NET CURRENT ASSETS 229,348 105,324
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,115,357

1,961,568

CREDITORS
Amounts falling due after more than one
year

7

(566,495

)

(552,500

)

PROVISIONS FOR LIABILITIES (44,982 ) (3,640 )
NET ASSETS 1,503,880 1,405,428

CAPITAL AND RESERVES
Called up share capital 8 1,454,899 1,449,671
Share premium 9 199,330 192,011
Fair Value reserve 9 60,318 53,944
Retained earnings 9 (210,667 ) (290,198 )
SHAREHOLDERS' FUNDS 1,503,880 1,405,428

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.

Nethergate Brewery Co Ltd (Registered number: 08983113)

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 3 December 2024 and were signed on its behalf by:





J S Holberry - Director


Nethergate Brewery Co Ltd (Registered number: 08983113)

Notes to the Financial Statements
for the year ended 31 March 2024


1. 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of one years.

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.

Development costs are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Plant and machinery - 10% on reducing balance and at varying rates on cost
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 or deferred taxation assets and liabilities are not discounted.

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.

Deferred 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2023 - 19 ) .

Nethergate Brewery Co Ltd (Registered number: 08983113)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


3. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 4 2,000 2,004
AMORTISATION
At 1 April 2023 4 567 571
Amortisation for year - 200 200
At 31 March 2024 4 767 771
NET BOOK VALUE
At 31 March 2024 - 1,233 1,233
At 31 March 2023 - 1,433 1,433

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 April 2023 1,224,410 785,337 120,972 34,277 2,164,996
Additions 3,504 41,835 6,224 39,167 90,730
Revaluations 10,000 - - - 10,000
At 31 March 2024 1,237,914 827,172 127,196 73,444 2,265,726
DEPRECIATION
At 1 April 2023 33,583 190,945 70,198 15,459 310,185
Charge for year 10,845 41,027 10,997 7,896 70,765
At 31 March 2024 44,428 231,972 81,195 23,355 380,950
NET BOOK VALUE
At 31 March 2024 1,193,486 595,200 46,001 50,089 1,884,776
At 31 March 2023 1,190,827 594,392 50,774 18,818 1,854,811

Included in cost or valuation of land and buildings is freehold land of £ 834,998 (2023 - £ 824,998 ) which is not depreciated.

Cost or valuation at 31 March 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2018 - 29,106 - - 29,106
Valuation in 2020 21,447 - - - 21,447
Valuation in 2021 8,000 - - - 8,000
Valuation in 2022 10,000 - - - 10,000
Valuation in 2023 20,000 - - - 20,000
Valuation in 2024 10,000 - - - 10,000
Cost 1,168,467 798,066 127,196 73,444 2,167,173
1,237,914 827,172 127,196 73,444 2,265,726

Nethergate Brewery Co Ltd (Registered number: 08983113)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


4. TANGIBLE FIXED ASSETS - continued

Casks are revalued annually by the directors to reflect their market value.

Freehold property is revalued annually by the directors to reflect their market value. Upon revaluation in 2024 the value was increased by £10,000.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Trade debtors 125,036 122,288
Other debtors 9,674 11,417
134,710 133,705

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,803 -
Trade creditors 58,423 60,817
Taxation and social security 39,131 31,070
Other creditors 156,541 182,433
268,898 284,320

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/3/24 31/3/23
£    £   
Bank loans 12,500 22,500
Hire purchase contracts 33,995 -
Other creditors 520,000 530,000
566,495 552,500

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 200,000 200,000

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
1,454,899 Ordinary £1 1,454,899 1,449,671

5,228 Ordinary shares of £1 each were allotted as fully paid at a premium of 1.4 per share during the year.

Nethergate Brewery Co Ltd (Registered number: 08983113)

Notes to the Financial Statements - continued
for the year ended 31 March 2024


9. RESERVES
Fair
Retained Share Value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 (290,198 ) 192,011 53,944 (44,243 )
Profit for the year 85,905 85,905
Cash share issue - 7,319 - 7,319
Revaluation (7,500 ) - 7,500 -
Cask revaluation depreciation 1,126 - (1,126 ) -
At 31 March 2024 (210,667 ) 199,330 60,318 48,981

10. RELATED PARTY DISCLOSURES

An unsecured loan to the sum of £600,000 (2023:£610,000) was owed by the business to Burlison Inns Limited at the year end, a company which is controlled by Mr G Burlison. The terms of this loan are based on 6% per annum, charged on a monthly balance.