Company registration number 11549217 (England and Wales)
XYLO BREWING LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
XYLO BREWING LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
XYLO BREWING LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
43,067
43,710
Current assets
Stocks
9,097
8,025
Debtors
4
12,709
10,897
Cash at bank and in hand
70,546
69,582
92,352
88,504
Creditors: amounts falling due within one year
5
(74,371)
(66,623)
Net current assets
17,981
21,881
Total assets less current liabilities
61,048
65,591
Creditors: amounts falling due after more than one year
6
(9,887)
(20,149)
Provisions for liabilities
(10,767)
(10,782)
Net assets
40,394
34,660
Capital and reserves
Called up share capital
200
200
Share premium account
19,980
19,980
Profit and loss reserves
20,214
14,480
Total equity
40,394
34,660

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

XYLO BREWING LTD
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 November 2024 and are signed on its behalf by:
Mr B C Atkins
Mr N Wright
Director
Director
Company registration number 11549217 (England and Wales)
XYLO BREWING LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Xylo Brewing Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, 2-14 High Street, Margate, Kent, CT9 1AT.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

 

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% on reducing balance
Plant and equipment
20% on reducing balance
Fixtures and fittings
20% on reducing balance
Computer equipment
20% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

XYLO BREWING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
11
13
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
10,202
83,868
13,107
3,479
110,656
Additions
9,128
-
0
-
0
996
10,124
At 30 September 2024
19,330
83,868
13,107
4,475
120,780
Depreciation and impairment
At 1 October 2023
6,541
50,783
8,004
1,618
66,946
Depreciation charged in the year
2,558
6,617
1,021
571
10,767
At 30 September 2024
9,099
57,400
9,025
2,189
77,713
Carrying amount
At 30 September 2024
10,231
26,468
4,082
2,286
43,067
At 30 September 2023
3,661
33,085
5,103
1,861
43,710
XYLO BREWING LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
3,172
3,217
Other debtors
9,537
7,680
12,709
10,897
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,262
10,009
Trade creditors
5,104
9,989
Corporation tax
14,498
8,069
Other taxation and social security
15,207
14,093
Other creditors
29,300
24,463
74,371
66,623
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,887
20,149
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