IRIS Accounts Production v24.3.2.46 08787766 Board of Directors 1.5.23 30.4.24 30.4.24 false true false false false true false Ordinary 0.01000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh087877662023-04-30087877662024-04-30087877662023-05-012024-04-30087877662022-04-30087877662022-05-012023-04-30087877662023-04-3008787766ns15:EnglandWales2023-05-012024-04-3008787766ns14:PoundSterling2023-05-012024-04-3008787766ns10:Director12023-05-012024-04-3008787766ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3008787766ns10:SmallEntities2023-05-012024-04-3008787766ns10:AuditExemptWithAccountantsReport2023-05-012024-04-3008787766ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3008787766ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3008787766ns10:FullAccounts2023-05-012024-04-300878776612023-05-012024-04-3008787766ns10:OrdinaryShareClass12023-05-012024-04-3008787766ns10:Director22023-05-012024-04-3008787766ns10:RegisteredOffice2023-05-012024-04-3008787766ns5:CurrentFinancialInstruments2024-04-3008787766ns5:CurrentFinancialInstruments2023-04-3008787766ns5:Non-currentFinancialInstruments2024-04-3008787766ns5:Non-currentFinancialInstruments2023-04-3008787766ns5:ShareCapital2024-04-3008787766ns5:ShareCapital2023-04-3008787766ns5:RetainedEarningsAccumulatedLosses2024-04-3008787766ns5:RetainedEarningsAccumulatedLosses2023-04-3008787766ns5:NetGoodwill2023-05-012024-04-3008787766ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3008787766ns5:PlantMachinery2023-05-012024-04-3008787766ns5:FurnitureFittings2023-05-012024-04-3008787766ns5:MotorVehicles2023-05-012024-04-3008787766ns5:ComputerEquipment2023-05-012024-04-3008787766ns5:NetGoodwill2023-04-3008787766ns5:NetGoodwill2024-04-3008787766ns5:NetGoodwill2023-04-3008787766ns5:PlantMachinery2023-04-3008787766ns5:FurnitureFittings2023-04-3008787766ns5:MotorVehicles2023-04-3008787766ns5:ComputerEquipment2023-04-3008787766ns5:PlantMachinery2024-04-3008787766ns5:FurnitureFittings2024-04-3008787766ns5:MotorVehicles2024-04-3008787766ns5:ComputerEquipment2024-04-3008787766ns5:PlantMachinery2023-04-3008787766ns5:FurnitureFittings2023-04-3008787766ns5:MotorVehicles2023-04-3008787766ns5:ComputerEquipment2023-04-3008787766ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3008787766ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3008787766ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-04-3008787766ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-04-3008787766ns5:WithinOneYear2024-04-3008787766ns5:WithinOneYear2023-04-3008787766ns5:BetweenOneFiveYears2024-04-3008787766ns5:BetweenOneFiveYears2023-04-3008787766ns5:AllPeriods2024-04-3008787766ns5:AllPeriods2023-04-3008787766ns5:AcceleratedTaxDepreciationDeferredTax2024-04-3008787766ns5:AcceleratedTaxDepreciationDeferredTax2023-04-3008787766ns5:TaxLossesCarry-forwardsDeferredTax2024-04-3008787766ns5:TaxLossesCarry-forwardsDeferredTax2023-04-3008787766ns5:DeferredTaxation2023-04-3008787766ns5:DeferredTaxation2023-05-012024-04-3008787766ns5:DeferredTaxation2024-04-3008787766ns10:OrdinaryShareClass12024-04-30
REGISTERED NUMBER: 08787766 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 APRIL 2024

FOR

GUN BREWERY LIMITED

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 11

GUN BREWERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr T J Smallpeice
Mr M D L Berry





REGISTERED OFFICE: Hawthbush Farm
Gun Hill
Heathfield
East Sussex
TN21 0JY





REGISTERED NUMBER: 08787766 (England and Wales)





ACCOUNTANTS: Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 18,118 21,137
Tangible assets 6 697,158 744,920
715,276 766,057

CURRENT ASSETS
Stocks 7 93,015 41,797
Debtors 8 90,910 141,886
Cash at bank and in hand 19,583 24,786
203,508 208,469
CREDITORS
Amounts falling due within one year 9 373,351 399,909
NET CURRENT LIABILITIES (169,843 ) (191,440 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

545,433

574,617

CREDITORS
Amounts falling due after more than one
year

10

(89,420

)

(159,446

)

PROVISIONS FOR LIABILITIES 12 (117,146 ) (88,181 )
NET ASSETS 338,867 326,990

CAPITAL AND RESERVES
Called up share capital 13 20 20
Retained earnings 338,847 326,970
SHAREHOLDERS' FUNDS 338,867 326,990

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2025 and were signed on its behalf by:





Mr T J Smallpeice - Director


GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Gun 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is recognised as the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten 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.

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 - 10% on cost
Improvements to property - 10% on cost
Motor vehicles - 20% on reducing balance
Equipment - 20% on cost

Government grants
The entity has adopted the use of the accruals model in respect of grants received.

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

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.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities, like trade and other accounts receivable and payable, loans from banks and other third parties and loans to / from related parties.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the present value of the future cash flows and subsequently measured at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted transaction price less any impairment.

If the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's original effective rate.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet and measured as detailed above.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Finance costs are charged to the profit and loss over the term of the financial asset / liability using the effective interest method so that the amount charged is at a constant rate on the carrying amount.


GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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.

Leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 20 ) .

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 30,196
AMORTISATION
At 1 May 2023 9,059
Amortisation for year 3,019
At 30 April 2024 12,078
NET BOOK VALUE
At 30 April 2024 18,118
At 30 April 2023 21,137

6. TANGIBLE FIXED ASSETS
Improvements
Plant and to Motor
machinery property vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 May 2023 875,378 160,809 18,990 26,645 1,081,822
Additions 35,557 - 11,995 23,816 71,368
Disposals (6,322 ) - - - (6,322 )
At 30 April 2024 904,613 160,809 30,985 50,461 1,146,868
DEPRECIATION
At 1 May 2023 309,911 8,895 15,121 2,975 336,902
Charge for year 89,851 16,081 2,373 7,828 116,133
Eliminated on disposal (3,325 ) - - - (3,325 )
At 30 April 2024 396,437 24,976 17,494 10,803 449,710
NET BOOK VALUE
At 30 April 2024 508,176 135,833 13,491 39,658 697,158
At 30 April 2023 565,467 151,914 3,869 23,670 744,920

7. STOCKS
2024 2023
£    £   
Stocks 93,015 41,797

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 82,805 121,047
Corporation tax - 15,032
Prepayments and accrued income 8,105 5,807
90,910 141,886

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,712 52,648
Other loans 139,500 194,750
Trade creditors 27,701 38,947
PAYE and social security 3,987 4,960
VAT 26,383 31,486
Other creditors 35,993 374
Directors' current accounts 60,384 59,337
Accruals and deferred income 18,691 17,407
373,351 399,909

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - more than 1 year 80,669 159,446
Deferred income 8,751 -
89,420 159,446

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 15,000 60,000
Between one and five years - 15,000
15,000 75,000

During the year, an expense of £60,000 (2023: £60,000) was recognised in rent expenses in relation to the above leases.

GUN BREWERY LIMITED (REGISTERED NUMBER: 08787766)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


12. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 174,289 186,230
Tax losses carried forward (57,143 ) (98,049 )
117,146 88,181

Deferred
tax
£   
Balance at 1 May 2023 88,181
Provided during year 28,965
Balance at 30 April 2024 117,146

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2,000 Ordinary £0.01 20 20

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
GUN BREWERY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gun Brewery Limited for the year ended 30 April 2024 which comprise the Profit and Loss account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Gun Brewery Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gun Brewery Limited and state those matters that we have agreed to state to the Board of Directors of Gun Brewery Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gun Brewery Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gun Brewery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gun Brewery Limited. You consider that Gun Brewery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gun Brewery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Honey Barrett Limited
Chartered Accountants
53 Gildredge Road
Eastbourne
East Sussex
BN21 4SF


9 January 2025