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Registration number: 03330811

Hobsons Brewery and Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Hobsons Brewery and Company Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Hobsons Brewery and Company Limited

Company Information

Directors

M Churchward

P Churchward

K Pearce

N E J Davis

Company secretary

S Davis

Registered office

Newhouse Farm
Tenbury Road
Cleobury Mortimer
Shropshire
DY14 8RB

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Hobsons Brewery and Company Limited

(Registration number: 03330811)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

18,450

20,500

Tangible assets

5

871,297

943,002

Other financial assets

6

95,094

95,094

 

984,841

1,058,596

Current assets

 

Stocks

7

249,044

263,886

Debtors

8

293,564

334,283

Cash at bank and in hand

 

168,800

273,684

 

711,408

871,853

Creditors: Amounts falling due within one year

9

(230,319)

(276,441)

Net current assets

 

481,089

595,412

Total assets less current liabilities

 

1,465,930

1,654,008

Creditors: Amounts falling due after more than one year

9

(9,778)

-

Provisions for liabilities

(127,793)

(136,876)

Net assets

 

1,328,359

1,517,132

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

1,327,359

1,516,132

Shareholders' funds

 

1,328,359

1,517,132

 

Hobsons Brewery and Company Limited

(Registration number: 03330811)
Balance Sheet as at 30 April 2024

For the financial year ending 30 April 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

.........................................
N E J Davis
Director

   
     
 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Newhouse Farm
Tenbury Road
Cleobury Mortimer
Shropshire
DY14 8RB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Reducing balance - 25%

Long leasehold

Straight line over the life of the lease

Fixtures and fittings

Straight line - 33%

Plant and machinery

Reducing balance - 10%

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Licences

Straight line - 10%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stock is valued at raw material value at average landed cost.

 

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 27 (2023 - 27).

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Patents and licences
 £

Total
£

Cost or valuation

At 1 May 2023

20,500

20,500

At 30 April 2024

20,500

20,500

Amortisation

Amortisation charge

2,050

2,050

At 30 April 2024

2,050

2,050

Carrying amount

At 30 April 2024

18,450

18,450

At 30 April 2023

20,500

20,500

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

878,083

1,985,132

244,308

3,107,523

Additions

1,414

77,475

-

78,889

Disposals

-

-

(10,678)

(10,678)

At 30 April 2024

879,497

2,062,607

233,630

3,175,734

Depreciation

At 1 May 2023

611,183

1,374,139

179,199

2,164,521

Charge for the year

24,120

109,994

15,863

149,977

Eliminated on disposal

-

-

(10,061)

(10,061)

At 30 April 2024

635,303

1,484,133

185,001

2,304,437

Carrying amount

At 30 April 2024

244,194

578,474

48,629

871,297

At 30 April 2023

266,900

610,993

65,109

943,002

Included within the net book value of land and buildings above is £244,194 (2023 - £266,900) in respect of long leasehold land and buildings.
 

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Other financial assets (current and non-current)

Other investments
£

Total
£

Cost

At 1 May 2023

95,094

95,094

At 30 April 2024

95,094

95,094

Carrying amount

At 30 April 2024

95,094

95,094

At 30 April 2023

95,094

95,094

7

Stocks

2024
£

2023
£

Stock

249,044

263,886

8

Debtors

Current

2024
£

2023
£

Trade debtors

185,801

199,298

Prepayments

11,148

15,833

Other debtors

96,615

119,152

 

293,564

334,283

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

7,333

8,900

Trade creditors

 

81,687

63,149

Taxation and social security

 

77,543

73,071

Accruals and deferred income

 

60,610

129,060

Other creditors

 

3,146

2,261

 

230,319

276,441

 

Hobsons Brewery and Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

9,778

-

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

9,778

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

7,333

8,900