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REGISTERED NUMBER: SC398158 (Scotland)















STANEYHILL BREWERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Accountants' Report 9

STANEYHILL BREWERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Roderick Graham Mercer
James Cowie Mercer
John Charles Mercer



REGISTERED OFFICE: Hamepark
Reawick
Shetland
ZE2 9NJ



REGISTERED NUMBER: SC398158 (Scotland)



ACCOUNTANTS: Azets
Accountants
Titanium 1
King's Inch Place
Renfrew
Glasgow
PA4 8WF



BANKERS: Virgin Money
106 Commercial Street
Lerwick
Shetland
ZE1 0JJ

STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

BALANCE SHEET
30 JUNE 2024

30/6/24 30/6/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 279,082 134,888

CURRENT ASSETS
Stocks 4 65,032 75,251
Debtors 5 24,861 22,174
Cash at bank and in hand 23,639 8,329
113,532 105,754
CREDITORS
Amounts falling due within one year 6 489,733 25,499
NET CURRENT (LIABILITIES)/ASSETS (376,201 ) 80,255
TOTAL ASSETS LESS CURRENT
LIABILITIES

(97,119

)

215,143

CREDITORS
Amounts falling due after more than one
year

7

416,517

1,293,844
NET LIABILITIES (513,636 ) (1,078,701 )

CAPITAL AND RESERVES
Called up share capital 3 3
Revaluation reserve 8 155,942 -
Retained earnings (669,581 ) (1,078,704 )
(513,636 ) (1,078,701 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

BALANCE SHEET - continued
30 JUNE 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





Roderick Graham Mercer - Director


STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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 as modified by the revaluation of certain assets.

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 £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 4-10% straight line
Plant and machinery - 10% straight line
Motor vehicles - 10% straight line
Computer equipment - 33% straight line

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

STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES - continued

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 transactions 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, 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.


STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

1. ACCOUNTING POLICIES - continued

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 profit or loss as described below.

Non-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.

Financial assets
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.

2. EMPLOYEES AND DIRECTORS

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

3. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 260,072 156,724 9,177 1,581 427,554
Revaluations 14,928 - - - 14,928
At 30 June 2024 275,000 156,724 9,177 1,581 442,482
DEPRECIATION
At 1 July 2023 130,610 151,298 9,177 1,581 292,666
Charge for year 10,404 1,344 - - 11,748
Revaluation adjustments (141,014 ) - - - (141,014 )
At 30 June 2024 - 152,642 9,177 1,581 163,400
NET BOOK VALUE
At 30 June 2024 275,000 4,082 - - 279,082
At 30 June 2023 129,462 5,426 - - 134,888

STANEYHILL BREWERY LIMITED (REGISTERED NUMBER: SC398158)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. TANGIBLE FIXED ASSETS - continued

The freehold land and buildings were revalued by L A Simpson Chartered Surveyors on 4 September 2024, on a market value basis. The directors confirmed the carrying value in the financial statements as at 30 June 2024 is reflective of the value of the freehold land and buildings at that date.

4. STOCKS
30/6/24 30/6/23
£    £   
Stocks 65,032 75,251

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 24,861 22,174

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade creditors 204,026 15,400
Social security and other taxes 6,238 1,763
Other creditors 275,000 2,487
Accruals and deferred income 4,469 5,849
489,733 25,499

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Other creditors 416,517 1,293,844

8. RESERVES
Revaluation
reserve
£   
Revaluation of property 155,942

At 30 June 2024 155,942

9. RELATED PARTY DISCLOSURES

Included within creditors is an amount due to Rearo Laminates Limited amounting to £nil (2023 - £2,487), and £275,000 (2023 - £887,486) due to Rearo Supplies Limited. Both are companies in which James Cowie Mercer and Roderick Graham Mercer are directors.

No repayment terms are stipulated on the loans, however interest is charged at a commercial rate on the Rearo Supplies Limited loan, amounting to £18,220 (2023- £15,710).

10. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors by virtue of their individual shareholdings.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
STANEYHILL BREWERY LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Staneyhill Brewery Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Staneyhill Brewery Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Staneyhill Brewery Limited and state those matters that we have agreed to state to the Board of Directors of Staneyhill Brewery Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Staneyhill Brewery Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Staneyhill Brewery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Staneyhill Brewery Limited. You consider that Staneyhill Brewery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Staneyhill Brewery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Azets
Accountants
Titanium 1
King's Inch Place
Renfrew
Glasgow
PA4 8WF


5 March 2025