London Fields Brewery Opco Limited 10842272 false 2024-01-01 2024-06-30 2024-06-30 The principal activity of the company is manufacture of beer and operation of Taproom and Events business. Digita Accounts Production Advanced 6.30.9574.0 true false 10842272 2024-01-01 2024-06-30 10842272 2024-06-30 10842272 core:CurrentFinancialInstruments 2024-06-30 10842272 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10842272 core:FurnitureFittings 2024-06-30 10842272 core:LandBuildings core:ShortLeaseholdAssets 2024-06-30 10842272 core:OfficeEquipment 2024-06-30 10842272 core:PlantMachinery 2024-06-30 10842272 bus:SmallEntities 2024-01-01 2024-06-30 10842272 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-06-30 10842272 bus:FilletedAccounts 2024-01-01 2024-06-30 10842272 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-06-30 10842272 bus:RegisteredOffice 2024-01-01 2024-06-30 10842272 bus:Director3 2024-01-01 2024-06-30 10842272 bus:Director7 2024-01-01 2024-06-30 10842272 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-06-30 10842272 core:ComputerEquipment 2024-01-01 2024-06-30 10842272 core:FurnitureFittings 2024-01-01 2024-06-30 10842272 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-06-30 10842272 core:LeaseholdImprovements 2024-01-01 2024-06-30 10842272 core:OfficeEquipment 2024-01-01 2024-06-30 10842272 core:PlantMachinery 2024-01-01 2024-06-30 10842272 1 2024-01-01 2024-06-30 10842272 countries:EnglandWales 2024-01-01 2024-06-30 10842272 2023-12-31 10842272 core:FurnitureFittings 2023-12-31 10842272 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 10842272 core:OfficeEquipment 2023-12-31 10842272 core:PlantMachinery 2023-12-31 10842272 2023-05-19 2023-12-31 10842272 2023-12-31 10842272 core:CurrentFinancialInstruments 2023-12-31 10842272 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10842272 core:FurnitureFittings 2023-12-31 10842272 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 10842272 core:OfficeEquipment 2023-12-31 10842272 core:PlantMachinery 2023-12-31 iso4217:GBP xbrli:pure

Registration number: 10842272

London Fields Brewery Opco Limited

Unaudited Filleted Financial Statements

for the Period from 1 January 2024 to 30 June 2024

 

London Fields Brewery Opco Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

London Fields Brewery Opco Limited

Company Information

Directors

Jon Andreas Akerlund

Anselm Chatwin

Registered office

The Axe
18 Northwold Road
London
N16 7HR

Accountants

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

London Fields Brewery Opco Limited

(Registration number: 10842272)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

458,866

585,671

Current assets

 

Stocks

5

36,765

48,448

Debtors

6

184,672

194,076

Cash at bank and in hand

 

768

2,306

 

222,205

244,830

Creditors: Amounts falling due within one year

7

(859,454)

(682,912)

Net current liabilities

 

(637,249)

(438,082)

Total assets less current liabilities

 

(178,383)

147,589

Provisions for liabilities

(60,000)

(60,000)

Net (liabilities)/assets

 

(238,383)

87,589

Capital and reserves

 

Called up share capital

8

3

3

Share premium reserve

6,224,593

6,224,593

Retained earnings

(6,462,979)

(6,137,007)

Shareholders' (deficit)/funds

 

(238,383)

87,589

For the financial period ending 30 June 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 period 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.

 

London Fields Brewery Opco Limited

(Registration number: 10842272)
Balance Sheet as at 30 June 2024

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

.........................................
Anselm Chatwin
Director

 

London Fields Brewery Opco Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 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:
The Axe
18 Northwold Road
London
N16 7HR

These financial statements were authorised for issue by the Board on 24 March 2025.

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.

Revenue recognition

Revenue is recognised when bar and food products are served to customers, after deducting discounts and sales-based taxes. Deposits received in respect of advanced bookings are deferred until the relevant services are provided.

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

Plant and Equipment

20% Straight line

Furniture and Fittings

20% Straight line

Office Equipment

25% Straight line

Improvement of Leasehold

20% Straight line over lease term

 

London Fields Brewery Opco Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024

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.

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date 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.

Share capital

Ordinary shares are classified as equity.

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.

 

London Fields Brewery Opco Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7 (2023 - 6).

4

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 January 2024

20,059

192,507

1,405,322

3,199

Additions

3,252

423

2,172

349

At 30 June 2024

23,311

192,930

1,407,494

3,548

Depreciation

At 1 January 2024

2,340

22,459

1,010,150

467

Charge for the period

4,164

38,528

89,509

800

At 30 June 2024

6,504

60,987

1,099,659

1,267

Carrying amount

At 30 June 2024

16,807

131,943

307,835

2,281

At 31 December 2023

17,719

170,048

395,172

2,732

Total
£

Cost or valuation

At 1 January 2024

1,621,087

Additions

6,196

At 30 June 2024

1,627,283

Depreciation

At 1 January 2024

1,035,416

Charge for the period

133,001

At 30 June 2024

1,168,417

Carrying amount

At 30 June 2024

458,866

At 31 December 2023

585,671

 

London Fields Brewery Opco Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024

Included within the net book value of land and buildings above is £16,807 (2023 - £17,719) in respect of short leasehold land and buildings.
 

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

36,765

48,448

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

12,677

2,309

Amounts owed by group undertakings

9

46,886

54,729

Other debtors

 

59,388

88,678

Prepayments

 

65,721

48,360

 

184,672

194,076

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

135,234

67,539

Amounts owed to group undertakings

9

644,750

584,848

Taxation and social security

 

33,401

6,222

Accruals and deferred income

 

42,549

22,039

Other creditors

 

3,520

2,264

 

859,454

682,912

The provision for liabilities includes dilapidation £60,000 (2023:£60,000)

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

       
 

London Fields Brewery Opco Limited

Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024

9

Related party transactions

Summary of transactions with other related parties

At the balance sheet date amount due from/(to) related parties (fellow subsidiaries & the Parent entity) are as follows:

Grace Land Group Limited: (£602,018) (2023: (£564,373))
Grace Land (Dalston) Limited: £34,905 (2023: £43,339)
Grace Land (Islington) Limited: (£11,413) (2023: £7,059)
Grace Land (Bethnal Green) : £11,598 (2023:£4,332)
Grace Land (Camden) Limited: (£8,266) (2023: (£1,699))
Grace Land (Bethnal) Limited: £383 (2023: (£11,235))
Grace Land(Stoke Newington) Limited: (£13,810) (2023: (£7,542))
Grace Land (Swain) Limited: (£9,243) (2023: N/A)

These loan are unsecured,interest free and repayable on demand.

10

Parent and ultimate parent undertaking

The company's immediate parent is Grace Land Group Limited , incorporated in England.