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REGISTERED NUMBER: 09564666 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Serious Brewing Company Ltd

Serious Brewing Company Ltd (Registered number: 09564666)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Serious Brewing Company Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs J F Lynch
Mr K E Lynch





REGISTERED OFFICE: Unit C5
Fieldhouse Industrial Estate
Fieldhouse Road
Rochdale
Lancashire
OL12 0AA





REGISTERED NUMBER: 09564666 (England and Wales)





ACCOUNTANTS: Versatile Accountancy Services Ltd
The Old Printworks
65 Church Street
Littleborough
Lancashire
OL15 8AB

Serious Brewing Company Ltd (Registered number: 09564666)

Statement of Financial Position
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - -
Property, plant and equipment 4 21,435 25,218
21,435 25,218

CURRENT ASSETS
Inventories 5 3,280 4,580
Debtors 6 6,717 6,165
Cash at bank and in hand 7,005 10,053
17,002 20,798
CREDITORS
Amounts falling due within one year 7 252,117 234,468
NET CURRENT LIABILITIES (235,115 ) (213,670 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(213,680

)

(188,452

)

CREDITORS
Amounts falling due after more than
one year

8

(9,500

)

(9,842

)

PROVISIONS FOR LIABILITIES 9 (217 ) (89 )
NET LIABILITIES (223,397 ) (198,383 )

Serious Brewing Company Ltd (Registered number: 09564666)

Statement of Financial Position - continued
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10 (223,497 ) (198,483 )
SHAREHOLDERS' FUNDS (223,397 ) (198,383 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by:





Mrs J F Lynch - Director


Serious Brewing Company Ltd (Registered number: 09564666)

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

1. ACCOUNTING POLICIES

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

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 15% on reducing balance

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

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 is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Serious Brewing Company Ltd (Registered number: 09564666)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

3. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 170
AMORTISATION
At 1 May 2023
and 30 April 2024 170
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 May 2023
and 30 April 2024 71,098 9,245 1,927 82,270
DEPRECIATION
At 1 May 2023 49,342 6,570 1,140 57,052
Charge for year 3,264 401 118 3,783
At 30 April 2024 52,606 6,971 1,258 60,835
NET BOOK VALUE
At 30 April 2024 18,492 2,274 669 21,435
At 30 April 2023 21,756 2,675 787 25,218

Serious Brewing Company Ltd (Registered number: 09564666)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVENTORIES
30.4.24 30.4.23
£    £   
Stocks 3,280 4,580

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.4.24 30.4.23
£    £   
Trade debtors 3,834 3,496
Other debtors 1,408 1,408
Prepayments 1,475 1,261
6,717 6,165

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
30.4.24 30.4.23
£    £   
Other loans 5,000 5,000
Trade creditors 4,048 1,409
Social security and other taxes 40 -
VAT 2,112 813
Other creditors 4,992 4,985
Directors' loan accounts 233,884 220,666
Accrued expenses 2,041 1,595
252,117 234,468

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE
THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans - 1-2 years 9,500 9,842

9. PROVISIONS FOR LIABILITIES
30.4.24 30.4.23
£    £   
Deferred tax 217 89

Serious Brewing Company Ltd (Registered number: 09564666)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 May 2023 89
Provided during year 128
Balance at 30 April 2024 217

10. RESERVES
Retained
earnings
£   

At 1 May 2023 (198,483 )
Deficit for the year (25,014 )
At 30 April 2024 (223,497 )