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REGISTERED NUMBER: 10575383 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Donnington Brewery Limited

Donnington Brewery Limited (Registered number: 10575383)






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


Donnington Brewery Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J R Arkell TD DL
J Arkell
Mrs C Arkell





SECRETARY: Mrs S R Arkell





REGISTERED OFFICE: Donnington Brewery Upper Swell
Stow-On-The-Wold
Cheltenham
Gloucestershire
GL54 1EP





REGISTERED NUMBER: 10575383 (England and Wales)





ACCOUNTANTS: Morley & Co (UK) Ltd
Chartered Certified Accountants,
2 Cricklade Court
Old Town
Swindon
Wiltshire
SN1 3EY

Donnington Brewery Limited (Registered number: 10575383)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,747,109 23,560,914
Investment property 5 450,000 450,000
24,197,109 24,010,914

CURRENT ASSETS
Stocks 6 39,118 44,070
Debtors 7 309,848 402,770
Cash at bank and in hand 27,522 45,853
376,488 492,693
CREDITORS
Amounts falling due within one year 8 5,349,274 4,288,662
NET CURRENT LIABILITIES (4,972,786 ) (3,795,969 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,224,323

20,214,945

CREDITORS
Amounts falling due after more than one
year

9

-

(1,243,511

)

PROVISIONS FOR LIABILITIES (53,860 ) (43,944 )
NET ASSETS 19,170,463 18,927,490

Donnington Brewery Limited (Registered number: 10575383)

Balance Sheet - continued
31 March 2024

2024 2023
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 17,577,480 17,577,480
Retained earnings 1,592,983 1,350,010
19,170,463 18,927,490

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 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 24 December 2024 and were signed on its behalf by:





J R Arkell TD DL - Director


Donnington Brewery Limited (Registered number: 10575383)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Donnington Brewery 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is recognised to the extent that the Company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, usually on dispatch of the goods, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from supply of accommodation is recognised at the point services are provided. Rental income is recognised on a straight line basis over the term. Net takings from machine income are recognised as earned.

Donnington Brewery Limited (Registered number: 10575383)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes cost directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

The Directors follow a policy of improving and fully maintaining properties in order that they may enjoy an indefinite useful life. In view of this policy, no depreciation has been deducted from the carrying values in the accounts.

The non-depreciation of buildings is a departure from the Companies Act 2006. The rationale for non-depreciation is that the Company spends so much money maintaining the properties that the pubs have an indefinite useful economic life. The Directors are therefore applying the true and fair override in order not to depreciate the property. The Directors perform annual impairment reviews in accordance with the accounting standards to ensure that the carrying values are not lower than the recoverable amounts.

Investment property
Certain of the Company's properties are held for long-term investment. Investment properties are accounted for as follows:

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure. Investment properties whose market value can be measured reliably are measured at market value. The surplus or deficit on revaluation is recognised in the income statement and accumulated in the profit and loss reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. No depreciation is provided in respect of investment properties.

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

Financial instruments
Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.


Donnington Brewery Limited (Registered number: 10575383)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

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 9 (2023 - 9 ) .

Donnington Brewery Limited (Registered number: 10575383)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 23,333,373 40,048 517,157 93,448 23,984,026
Additions 149,395 6,962 154,511 - 310,868
At 31 March 2024 23,482,768 47,010 671,668 93,448 24,294,894
DEPRECIATION
At 1 April 2023 - 27,780 356,436 38,896 423,112
Charge for year - 6,115 99,868 18,690 124,673
At 31 March 2024 - 33,895 456,304 57,586 547,785
NET BOOK VALUE
At 31 March 2024 23,482,768 13,115 215,364 35,862 23,747,109
At 31 March 2023 23,333,373 12,268 160,721 54,552 23,560,914

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 450,000
NET BOOK VALUE
At 31 March 2024 450,000
At 31 March 2023 450,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 (93,828 )
Cost 543,828
450,000

6. STOCKS
2024 2023
£    £   
Stocks 39,118 44,070

Donnington Brewery Limited (Registered number: 10575383)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 199,490 246,951
Other debtors 26,902 19,583
Prepayments 83,456 136,236
309,848 402,770

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,730,063 3,777,912
Hire purchase contracts 3,511 8,093
Trade creditors 298,913 281,521
Tax 158,272 85,626
Social security and other taxes 1,218 9,852
VAT 57,522 31,040
Other creditors 29,491 18,815
Directors' current accounts 11,587 15,274
Accrued expenses 58,697 60,529
5,349,274 4,288,662

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 550,000
Bank loans - 2-5 years - 690,000
Hire purchase contracts - 3,511
- 1,243,511

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 4,730,063 5,017,912

Svenska Handelsbanken AB (PUBL)/Handelsbanken PLC holds a fixed charge over certain freehold properties to secure their loans.