17 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2024 - FRS102_2024 10,000 10,000 xbrli:pure xbrli:shares iso4217:GBP 06813814 2023-10-01 2024-09-30 06813814 2024-09-30 06813814 2023-09-30 06813814 2022-10-01 2023-09-30 06813814 2023-09-30 06813814 2022-09-30 06813814 core:NetGoodwill 2023-10-01 2024-09-30 06813814 core:LandBuildings core:LongLeaseholdAssets 2023-10-01 2024-09-30 06813814 core:PlantMachinery 2023-10-01 2024-09-30 06813814 core:FurnitureFittings 2023-10-01 2024-09-30 06813814 core:MotorVehicles 2023-10-01 2024-09-30 06813814 bus:Director1 2023-10-01 2024-09-30 06813814 core:NetGoodwill 2024-09-30 06813814 core:LandBuildings 2023-09-30 06813814 core:PlantMachinery 2023-09-30 06813814 core:FurnitureFittings 2023-09-30 06813814 core:MotorVehicles 2023-09-30 06813814 core:LandBuildings 2024-09-30 06813814 core:PlantMachinery 2024-09-30 06813814 core:FurnitureFittings 2024-09-30 06813814 core:MotorVehicles 2024-09-30 06813814 core:LandBuildings 2023-10-01 2024-09-30 06813814 core:WithinOneYear 2024-09-30 06813814 core:WithinOneYear 2023-09-30 06813814 core:AfterOneYear 2024-09-30 06813814 core:AfterOneYear 2023-09-30 06813814 core:ShareCapital 2024-09-30 06813814 core:ShareCapital 2023-09-30 06813814 core:SharePremium 2024-09-30 06813814 core:SharePremium 2023-09-30 06813814 core:RetainedEarningsAccumulatedLosses 2024-09-30 06813814 core:RetainedEarningsAccumulatedLosses 2023-09-30 06813814 core:LandBuildings 2023-09-30 06813814 core:PlantMachinery 2023-09-30 06813814 core:FurnitureFittings 2023-09-30 06813814 core:MotorVehicles 2023-09-30 06813814 bus:SmallEntities 2023-10-01 2024-09-30 06813814 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 06813814 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 06813814 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 06813814 bus:FullAccounts 2023-10-01 2024-09-30 06813814 core:AfterOneYear 2023-10-01 2024-09-30 06813814 core:KeyManagementPersonnel 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 06813814
WantsumBrewery Ltd
Filleted Unaudited Financial Statements
30 September 2024
WantsumBrewery Ltd
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
WantsumBrewery Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
142,142
90,569
Current assets
Stocks
214,500
126,364
Debtors
7
126,000
59,211
---------
---------
340,500
185,575
Creditors: amounts falling due within one year
8
196,504
166,096
---------
---------
Net current assets
143,996
19,479
---------
---------
Total assets less current liabilities
286,138
110,048
Creditors: amounts falling due after more than one year
9
343,843
273,845
---------
---------
Net liabilities
( 57,705)
( 163,797)
---------
---------
Capital and reserves
Called up share capital
1,203
1,203
Share premium account
163,263
163,263
Profit and loss account
( 222,171)
( 328,263)
---------
---------
Shareholders deficit
( 57,705)
( 163,797)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WantsumBrewery Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 17 January 2025 , and are signed on behalf of the board by:
Mr M J H Grimsdale
Director
Company registration number: 06813814
WantsumBrewery Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Kent Barn, St Nicholas Court Farm, Court Road, St Nicholas At Wade, Kent, CT7 0PT, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors will continue to support the company and believe that the company will generate a profit in future periods therefore the accounts have been prepared on a going concern basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
10% straight line
Motor vehicles
-
10% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
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. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2023: 12 ).
5. Intangible assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
10,000
--------
Amortisation
At 1 October 2023 and 30 September 2024
10,000
--------
Carrying amount
At 30 September 2024
--------
At 30 September 2023
--------
6. Tangible assets
Property improvements
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
29,607
103,535
13,014
72,259
218,415
Additions
66,586
66,586
--------
---------
--------
---------
---------
At 30 September 2024
29,607
103,535
13,014
138,845
285,001
--------
---------
--------
---------
---------
Depreciation
At 1 October 2023
20,010
85,445
12,474
9,917
127,846
Charge for the year
2,803
3,326
101
8,783
15,013
--------
---------
--------
---------
---------
At 30 September 2024
22,813
88,771
12,575
18,700
142,859
--------
---------
--------
---------
---------
Carrying amount
At 30 September 2024
6,794
14,764
439
120,145
142,142
--------
---------
--------
---------
---------
At 30 September 2023
9,597
18,090
540
62,342
90,569
--------
---------
--------
---------
---------
7. Debtors
2024
2023
£
£
Trade debtors
123,000
59,211
Other debtors
3,000
---------
--------
126,000
59,211
---------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
14,162
14,713
Trade creditors
3,454
32,816
Social security and other taxes
100,112
54,689
Other creditors
78,776
63,878
---------
---------
196,504
166,096
---------
---------
Bank loans and overdrafts are secured by a way of a fixed and floating charge over the company's assets and undertakings.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
41,368
71,344
Other creditors
302,475
202,501
---------
---------
343,843
273,845
---------
---------
Bank loans and overdrafts are secured by a way of a fixed and floating charge over the company's assets and undertakings.
10. Related party transactions
At the year end the company owed £161,055 (2023: £167,358) to the directors.