Registration number:
London Fields Brewery Opco Limited
for the Period from 1 January 2024 to 30 June 2024
London Fields Brewery Opco Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
London Fields Brewery Opco Limited
Company Information
Directors |
Jon Andreas Akerlund Anselm Chatwin |
Registered office |
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Accountants |
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London Fields Brewery Opco Limited
(Registration number: 10842272)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Provisions for liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
3 |
3 |
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Share premium reserve |
6,224,593 |
6,224,593 |
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Retained earnings |
(6,462,979) |
(6,137,007) |
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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:
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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
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London Fields Brewery Opco Limited
Notes to the Unaudited Financial Statements for the Period from 1 January 2024 to 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Tangible assets |
Short leasehold land and buildings |
Fixtures and fittings |
Plant and machinery |
Office equipment |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 30 June 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the period |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 31 December 2023 |
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Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
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At 30 June 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the period |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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At 31 December 2023 |
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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.
Stocks |
2024 |
2023 |
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Finished goods and goods for resale |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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The provision for liabilities includes dilapidation £60,000 (2023:£60,000)
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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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
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.
Parent and ultimate parent undertaking |
The company's immediate parent is