SC768118falseMiso brewery2023-05-032024-05-31http://www.companieshouse.gov.uk/2023-05-02http://www.companieshouse.gov.uk/cd:Director12023-05-032024-05-31http://www.companieshouse.gov.uk/pt:ShareCapital2024-05-31http://www.companieshouse.gov.uk/cd:OrdinaryShareClass12023-05-032024-05-31http://www.companieshouse.gov.uk/cd:RegisteredOffice2023-05-032024-05-31http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2023-05-032024-05-31http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2024-05-31http://www.companieshouse.gov.uk/2023-05-032024-05-31http://www.companieshouse.gov.uk/cd:FRS1022023-05-032024-05-31http://www.companieshouse.gov.uk/2024-05-31http://www.companieshouse.gov.uk/cd:FullAccounts2023-05-032024-05-31http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2023-05-032024-05-31iso4217:GBPxbrli:sharesxbrli:pure
Registered number: SC768118

Sherriff & Hope Ltd

FINANCIAL STATEMENTS
FOR THE 395 DAY PERIOD ENDED 31 MAY 2024

Prepared By:
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Sherriff & Hope Ltd

FINANCIAL STATEMENTS
FOR THE 395 DAY PERIOD ENDED 31 MAY 2024
DIRECTORS
Jonathan Hope (appointed 3 May 2023)
REGISTERED OFFICE
Fionnshiel
Ramsay Road
Banchory
AB31 5TS
COMPANY DETAILS
Private company limited by shares registered in SC - Scotland, registered number SC768118
ACCOUNTANTS
Cunningham Grant
Chartered Accountants
Unit G6, The Granary Business Centre
Coal Road, Cupar
Fife
KY15 5YQ

Sherriff & Hope Ltd

FINANCIAL STATEMENTS
FOR THE395 DAY PERIODENDED31 MAY 2024
CONTENTS
Page
Directors' Report-
Accountants' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

Sherriff & Hope Ltd

BALANCE SHEET AT 31 May 2024
2024
Notes£
FIXED ASSETS
Tangible assets33,928
CURRENT ASSETS
Stock164
Cash at bank and in hand83,671
83,835
CREDITORS: Amounts falling due within one year493,767
NET CURRENT LIABILITIES(9,932)
TOTAL ASSETS LESS CURRENT LIABILITIES(6,004)
CAPITAL AND RESERVES
Called up share capital510
Profit and loss account(6,014)
SHAREHOLDERS' FUNDS(6,004)
For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 6 January 2025 and signed on their behalf by
.............................
Jonathan Hope (appointed 3 May 2023)
Director

Sherriff & Hope Ltd

NOTES TO THE ACCOUNTS
FOR THE 395 DAY PERIOD ENDED 31 MAY 2024
1. ACCOUNTING POLICIES
1a. General Information & Basis of Accounting
The company is limited by shares and incorporated in Scotland. The address of the registered office is given in the company information on page 1 of these financial statements.
The financial statements have been prepared in accordance with Financial Reporting Standard FRS 102 including Section 1A Small Entities, the Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. There were no material departures from that standard.
The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise shown.
1b. Going Concern
The company was incorporated on 3 May 2023 and began trading on 20 November 2023. The first period of trading was spent fund raising and securing a production kitchen. The main expenditure was in respect of branding development for new products. Whilst the Balance Sheet is overdrawn at the year end, as per Note 4 to the accounts £90,000, included in other creditors was converted to equity post year end.
The director believes there are no material uncertainties surrounding the company's ability to trade as a going concern and that adequate funds will be available to enable the company to continue to trade for a period of not less than 12 months from the date of approval of these statements. The financial statements have therefore been prepared on a going concern basis.
1c. Turnover
Turnover represents the amounts receivable arising from the supply of goods net of trade discounts.
Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Turnover is recognised as the fair value of the consideration received or receivable for services provided in the normal course of business, net of trade discounts.
1d. Tangible Fixed Assets
Tangible fixed assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation has been provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Equipmentstraight line20%
1e. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

Sherriff & Hope Ltd

1f. Cash And Cash Equivalents
Cash and cash equivalents are basic financial instruments which include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1g. Financial Instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1h. Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.
1i. Critical Accounting Estimates And Judgements
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.
The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Sherriff & Hope Ltd

2. EMPLOYEES
2024
No.No.
Average number of employees1
3. TANGIBLE FIXED ASSETS
Plant and
Machinery Etc.Total
££
Cost
Additions4,3644,364
At 31 May 20244,3644,364
Depreciation
For the 395 day period436436
At 31 May 2024436436
Net Book Amounts
At 31 May 20243,9283,928
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
£
Other creditors93,767
93,767
Included in other creditors is £90,000 that has been converted to equity shares after the balance sheet date

Sherriff & Hope Ltd

5. SHARE CAPITAL 2024
£
Allotted, issued and fully paid:
1000000 Ordinary shares of £0.00001 each10
10
New shares issued during period:
1000000 Ordinary shares of £0.00001 each10
10
6. RELATED PARTY TRANSACTIONS
Included in other creditors is an interest free loan from the director of £397. The loan is repayable on demand.