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Company No: 10428029 (England and Wales)

CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR Mr R C Morgan
REGISTERED OFFICE 2 Leman Street
London
E1W 9US
United Kingdom
COMPANY NUMBER 10428029 (England and Wales)
CHARTERED ACCOUNTANTS GRAVITA III LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
United Kingdom
CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

BALANCE SHEET

As at 31 March 2024
CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 95,827 104,195
95,827 104,195
Current assets
Stocks 17,099 19,243
Debtors 4 36,367 58,339
Cash at bank and in hand 18,217 10,670
71,683 88,252
Creditors: amounts falling due within one year 5 ( 361,629) ( 391,873)
Net current liabilities (289,946) (303,621)
Total assets less current liabilities (194,119) (199,426)
Creditors: amounts falling due after more than one year 6 ( 11,667) ( 21,671)
Net liabilities ( 205,786) ( 221,097)
Capital and reserves
Called-up share capital 100 100
Profit and loss account ( 205,886 ) ( 221,197 )
Total shareholder's deficit ( 205,786) ( 221,097)

For the financial year ending 31 March 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 Corner House Ale & Cider Investments Limited (registered number: 10428029) were approved and authorised for issue by the Director on 26 March 2025. They were signed on its behalf by:

Mr R C Morgan
Director
CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
CORNER HOUSE ALE & CIDER INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

Corner House Ale & Cider Investments 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 , 66 Prescot Street, London, E1 8NN.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 recognised at the fair value of the consideration receivable for goods and services provided in the normal course of business net of VAT.

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:

Leasehold improvements 10 years straight line
Plant and machinery 5 years straight line
Fixtures and fittings 10 years straight line

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 Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

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 complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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 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.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 proceeds received, net of transaction costs.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 27 27

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 April 2023 79,720 82,006 136,040 297,766
Additions 0 0 5,269 5,269
At 31 March 2024 79,720 82,006 141,309 303,035
Accumulated depreciation
At 01 April 2023 12,334 81,979 99,258 193,571
Charge for the financial year 7,972 27 5,638 13,637
At 31 March 2024 20,306 82,006 104,896 207,208
Net book value
At 31 March 2024 59,414 0 36,413 95,827
At 31 March 2023 67,386 27 36,782 104,195

4. Debtors

2024 2023
£ £
Prepayments 4,288 30,000
Other debtors 32,079 28,339
36,367 58,339

5. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 9,996
Trade creditors 45,656 87,948
Amounts owed to Parent undertakings 193,287 78,126
Other taxation and social security 46,812 82,174
Other creditors 65,874 133,629
361,629 391,873

6. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 11,667 21,671

There are no amounts included above in respect of which any security has been given by the small entity.

7. Related party transactions

At the reporting date the company owed £5,055 (2023: £785) to the director of the company.

8. Ultimate controlling party

The parent company is Twickenham Green Taverns Limited, a company registered in England and Wales.