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Company No: 11577170 (England and Wales)

PASTORE BREWING AND BLENDING LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

PASTORE BREWING AND BLENDING LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

PASTORE BREWING AND BLENDING LIMITED

COMPANY INFORMATION

For the financial year ended 30 September 2024
PASTORE BREWING AND BLENDING LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 September 2024
DIRECTOR Mr Benjamin Charles Demetrios Shepherd
REGISTERED OFFICE Unit 2 Convent Drive
Waterbeach
Cambridge
CB25 9QT
United Kingdom
BUSINESS ADDRESS Unit 2
Convent Drive
Waterbeach
Cambridge
CB25 9QT
COMPANY NUMBER 11577170 (England and Wales)
ACCOUNTANT Corbett Accountants Limited
Bakersfield
82 Station Road
Soham
Ely
Cambridgeshire
CB7 5DZ
PASTORE BREWING AND BLENDING LIMITED

BALANCE SHEET

As at 30 September 2024
PASTORE BREWING AND BLENDING LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 164,216 204,006
164,216 204,006
Current assets
Stocks 43,437 45,169
Debtors 4 47,121 49,667
Cash at bank and in hand 1,959 2,845
92,517 97,681
Creditors: amounts falling due within one year 5 ( 887,449) ( 817,801)
Net current liabilities (794,932) (720,120)
Total assets less current liabilities (630,716) (516,114)
Provision for liabilities 6 ( 24,558) ( 30,569)
Net liabilities ( 655,274) ( 546,683)
Capital and reserves
Called-up share capital 7 10,000 10,000
Profit and loss account ( 665,274 ) ( 556,683 )
Total shareholders' deficit ( 655,274) ( 546,683)

For the financial 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.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Pastore Brewing and Blending Limited (registered number: 11577170) were approved and authorised for issue by the Director on 21 February 2025. They were signed on its behalf by:

Mr Benjamin Charles Demetrios Shepherd
Director
PASTORE BREWING AND BLENDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
PASTORE BREWING AND BLENDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pastore Brewing and Blending Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 2 Convent Drive, Waterbeach, Cambridge, CB25 9QT, United Kingdom. The principal place of business is Unit 2, Convent Drive, Waterbeach, Cambridge, CB25 9QT.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 10 years straight line
Plant and machinery 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 3 3

3. Tangible assets

Land and buildings Plant and machinery Total
£ £ £
Cost
At 01 October 2023 141,139 296,686 437,825
Disposals 0 ( 466) ( 466)
At 30 September 2024 141,139 296,220 437,359
Accumulated depreciation
At 01 October 2023 64,560 169,259 233,819
Charge for the financial year 14,115 25,437 39,552
Disposals 0 ( 228) ( 228)
At 30 September 2024 78,675 194,468 273,143
Net book value
At 30 September 2024 62,464 101,752 164,216
At 30 September 2023 76,579 127,427 204,006

4. Debtors

2024 2023
£ £
Trade debtors 33,064 32,757
Other debtors 14,057 16,910
47,121 49,667

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 13,610 11,396
Amounts owed to director 98,520 85,871
Other loans 765,200 712,170
Other taxation and social security 5,186 3,156
Other creditors 4,933 5,208
887,449 817,801

6. Provision for liabilities

2024 2023
£ £
Deferred tax 24,558 30,569

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
5,000 Ordinary A shares of £ 1.00 each 5,000 5,000
2,500 Ordinary B shares of £ 1.00 each 2,500 2,500
2,500 Ordinary C shares of £ 1.00 each 2,500 2,500
10,000 10,000

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
The director charged the company for use of office during the year. 1,200 1,200
Included in creditors is a director's loan. The loan is interest free and there are no repayment terms. 98,520 85,871