Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Mr R Bald 07/01/2021 Mr D Hamilton 31/10/2022 Mr C Harris 31/10/2022 Mr M Johnston 31/10/2022 Mr E Johnstone 31/10/2022 Mr B Petrie 31/10/2022 14 March 2025 The principal activity of the Company during the financial year is that of the manufacture of beer. SC685250 2024-04-30 SC685250 bus:Director1 2024-04-30 SC685250 bus:Director2 2024-04-30 SC685250 bus:Director3 2024-04-30 SC685250 bus:Director4 2024-04-30 SC685250 bus:Director5 2024-04-30 SC685250 bus:Director6 2024-04-30 SC685250 2023-04-30 SC685250 core:CurrentFinancialInstruments 2024-04-30 SC685250 core:CurrentFinancialInstruments 2023-04-30 SC685250 core:ShareCapital 2024-04-30 SC685250 core:ShareCapital 2023-04-30 SC685250 core:SharePremium 2024-04-30 SC685250 core:SharePremium 2023-04-30 SC685250 core:RetainedEarningsAccumulatedLosses 2024-04-30 SC685250 core:RetainedEarningsAccumulatedLosses 2023-04-30 SC685250 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30 SC685250 core:PlantMachinery 2023-04-30 SC685250 core:OfficeEquipment 2023-04-30 SC685250 core:ConstructionInProgressAssetsUnderConstruction 2024-04-30 SC685250 core:PlantMachinery 2024-04-30 SC685250 core:OfficeEquipment 2024-04-30 SC685250 bus:OrdinaryShareClass1 2024-04-30 SC685250 2023-05-01 2024-04-30 SC685250 bus:FilletedAccounts 2023-05-01 2024-04-30 SC685250 bus:SmallEntities 2023-05-01 2024-04-30 SC685250 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 SC685250 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC685250 bus:Director1 2023-05-01 2024-04-30 SC685250 bus:Director2 2023-05-01 2024-04-30 SC685250 bus:Director3 2023-05-01 2024-04-30 SC685250 bus:Director4 2023-05-01 2024-04-30 SC685250 bus:Director5 2023-05-01 2024-04-30 SC685250 bus:Director6 2023-05-01 2024-04-30 SC685250 core:PlantMachinery 2023-05-01 2024-04-30 SC685250 core:OfficeEquipment 2023-05-01 2024-04-30 SC685250 2022-05-01 2023-04-30 SC685250 core:ConstructionInProgressAssetsUnderConstruction 2023-05-01 2024-04-30 SC685250 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 SC685250 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC685250 (Scotland)

COELBREW LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH THE REGISTRAR

COELBREW LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024

Contents

COELBREW LIMITED

BALANCE SHEET

AS AT 30 APRIL 2024
COELBREW LIMITED

BALANCE SHEET (continued)

AS AT 30 APRIL 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 417,380 437,926
417,380 437,926
Current assets
Stocks 4 15,884 22,691
Debtors 5 130,612 167,379
Cash at bank and in hand 3,525 90,914
150,021 280,984
Creditors: amounts falling due within one year 6 ( 127,630) ( 49,985)
Net current assets 22,391 230,999
Total assets less current liabilities 439,771 668,925
Net assets 439,771 668,925
Capital and reserves
Called-up share capital 7 10,000 10,000
Share premium account 979,968 979,968
Profit and loss account ( 550,197 ) ( 321,043 )
Total shareholders' funds 439,771 668,925

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 financial statements of Coelbrew Limited (registered number: SC685250) were approved and authorised for issue by the Board of Directors on 14 March 2025. They were signed on its behalf by:

Mr D Hamilton
Director
COELBREW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 2024
COELBREW LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 APRIL 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

Coelbrew Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is Units 9 & 10 Avalon Business Park, St. Andrews, KY16 0UB, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

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:

Assets under construction not depreciated
Plant and machinery 15 % reducing balance
Office equipment 15 % 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.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

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 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.

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.

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.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 8

3. Tangible assets

Assets under construc-
tion
Plant and machinery Office equipment Total
£ £ £ £
Cost
At 01 May 2023 435,752 0 2,174 437,926
Additions 0 4,870 8,550 13,420
Transfers ( 435,752) 435,752 0 0
At 30 April 2024 0 440,622 10,724 451,346
Accumulated depreciation
At 01 May 2023 0 0 0 0
Charge for the financial year 0 33,042 924 33,966
At 30 April 2024 0 33,042 924 33,966
Net book value
At 30 April 2024 0 407,580 9,800 417,380
At 30 April 2023 435,752 0 2,174 437,926

Plant and Machinery have been depreciated from 1st November 2023 in line with the commencement of production

4. Stocks

2024 2023
£ £
Stocks 15,884 22,691

5. Debtors

2024 2023
£ £
Trade debtors 196 0
Other debtors 130,416 167,379
130,612 167,379

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 10,738 10,553
Other taxation and social security 10,988 16,803
Other creditors 105,904 22,629
127,630 49,985

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and not yet paid
10,000 Ordinary shares of £ 1.00 each 10,000 10,000

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed to key management personnel 104,321 18,649