Company registration number 08499325 (England and Wales)
CRADDOCK BREWERY LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
CRADDOCK BREWERY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
CRADDOCK BREWERY LTD
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
342,008
355,337
Current assets
Stocks
36,795
35,025
Debtors
5
201,508
199,608
Cash at bank and in hand
67,397
65,101
305,700
299,734
Creditors: amounts falling due within one year
6
(218,294)
(223,814)
Net current assets
87,406
75,920
Total assets less current liabilities
429,414
431,257
Creditors: amounts falling due after more than one year
7
(211,871)
(245,077)
Provisions for liabilities
(530)
(1,193)
Net assets
217,013
184,987
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
216,913
184,887
Total equity
217,013
184,987

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 April 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.

CRADDOCK BREWERY LTD
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 13 January 2025 and are signed on its behalf by:
Mr D S L Craddock
Director
Company registration number 08499325 (England and Wales)
CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Craddock Brewery Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Plough & Harrow, 107 Worcester St, Stourbridge, West Midlands, United Kingdom, DY8 1AX.

 

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. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill has arisen on the incorporation of the former partnership. This is being written down over the useful life of 5 years.

1.4
Tangible fixed assets

Depreciation is provided at the following annuals rates in order to write off each asset over its estimated useful life.

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:

Freehold land and buildings
2% on cost
Plant and machinery etc
20% on cost and straight line over 10 years
1.5
Stocks

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

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and 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.

CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

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.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the 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 business 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.

1.8
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

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.

CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 5 -
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 the 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 is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

1.9
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.

2
Employees

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

2024
2023
Number
Number
Total
37
30
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
66,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
66,000
Carrying amount
At 30 April 2024
-
0
At 30 April 2023
-
0
CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
332,067
286,625
618,692
Additions
-
0
1,226
1,226
Disposals
-
0
(4,416)
(4,416)
At 30 April 2024
332,067
283,435
615,502
Depreciation and impairment
At 1 May 2023
17,141
246,215
263,356
Depreciation charged in the year
2,981
11,351
14,332
Eliminated in respect of disposals
-
0
(4,194)
(4,194)
At 30 April 2024
20,122
253,372
273,494
Carrying amount
At 30 April 2024
311,945
30,063
342,008
At 30 April 2023
314,926
40,411
355,337
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
21,260
18,856
Other debtors
80,831
78,635
Prepayments and accrued income
9,486
9,283
111,577
106,774
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
89,931
92,834
Total debtors
201,508
199,608
CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
22,899
21,793
Trade creditors
65,650
67,401
Corporation tax
25,143
3,996
Other taxation and social security
28,182
32,277
Other creditors
76,420
98,347
218,294
223,814
7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
177,178
200,077
Other creditors
34,693
45,000
211,871
245,077
Amounts included above which fall due after five years are as follows:
Payable by instalments
88,870
106,759
Payable other than by instalments
-
-
88,870
106,759

Other creditors includes a loan of £45,000 (2023 - £65,000) from the coronavirus business interruption loan scheme and is secured by a government guarantee.

8
Secured debts

The following secured debts are included within creditors:

 

2023         2022    

£ £

 

Bank Loans     200,077         221,870

======== ========

9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
100
100
100
100
CRADDOCK BREWERY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 8 -
10
Other financial commitments

The company has future operating lease commitments of £12,333 (2023 - £49,333).

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