Silverfin false false 30/06/2024 01/07/2023 30/06/2024 A J Armstrong 15/11/2019 D Heslop 15/11/2019 F D Heslop 05/06/2019 V V Roasario 05/06/2019 25 March 2025 The principal activity of the Company during the financial year was the manufacture of beer. 12034574 2024-06-30 12034574 bus:Director1 2024-06-30 12034574 bus:Director2 2024-06-30 12034574 bus:Director3 2024-06-30 12034574 bus:Director4 2024-06-30 12034574 2023-06-30 12034574 core:CurrentFinancialInstruments 2024-06-30 12034574 core:CurrentFinancialInstruments 2023-06-30 12034574 core:Non-currentFinancialInstruments 2024-06-30 12034574 core:Non-currentFinancialInstruments 2023-06-30 12034574 core:ShareCapital 2024-06-30 12034574 core:ShareCapital 2023-06-30 12034574 core:SharePremium 2024-06-30 12034574 core:SharePremium 2023-06-30 12034574 core:RetainedEarningsAccumulatedLosses 2024-06-30 12034574 core:RetainedEarningsAccumulatedLosses 2023-06-30 12034574 core:LeaseholdImprovements 2023-06-30 12034574 core:PlantMachinery 2023-06-30 12034574 core:Vehicles 2023-06-30 12034574 core:FurnitureFittings 2023-06-30 12034574 core:OfficeEquipment 2023-06-30 12034574 core:ComputerEquipment 2023-06-30 12034574 core:LeaseholdImprovements 2024-06-30 12034574 core:PlantMachinery 2024-06-30 12034574 core:Vehicles 2024-06-30 12034574 core:FurnitureFittings 2024-06-30 12034574 core:OfficeEquipment 2024-06-30 12034574 core:ComputerEquipment 2024-06-30 12034574 bus:OrdinaryShareClass1 2024-06-30 12034574 bus:OrdinaryShareClass2 2024-06-30 12034574 2023-07-01 2024-06-30 12034574 bus:FilletedAccounts 2023-07-01 2024-06-30 12034574 bus:SmallEntities 2023-07-01 2024-06-30 12034574 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 12034574 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 12034574 bus:Director1 2023-07-01 2024-06-30 12034574 bus:Director2 2023-07-01 2024-06-30 12034574 bus:Director3 2023-07-01 2024-06-30 12034574 bus:Director4 2023-07-01 2024-06-30 12034574 core:LeaseholdImprovements core:TopRangeValue 2023-07-01 2024-06-30 12034574 core:PlantMachinery core:TopRangeValue 2023-07-01 2024-06-30 12034574 core:Vehicles 2023-07-01 2024-06-30 12034574 core:FurnitureFittings core:TopRangeValue 2023-07-01 2024-06-30 12034574 core:OfficeEquipment core:TopRangeValue 2023-07-01 2024-06-30 12034574 core:ComputerEquipment core:TopRangeValue 2023-07-01 2024-06-30 12034574 2022-07-01 2023-06-30 12034574 core:LeaseholdImprovements 2023-07-01 2024-06-30 12034574 core:PlantMachinery 2023-07-01 2024-06-30 12034574 core:FurnitureFittings 2023-07-01 2024-06-30 12034574 core:OfficeEquipment 2023-07-01 2024-06-30 12034574 core:ComputerEquipment 2023-07-01 2024-06-30 12034574 core:CurrentFinancialInstruments 2023-07-01 2024-06-30 12034574 core:Non-currentFinancialInstruments 2023-07-01 2024-06-30 12034574 bus:OrdinaryShareClass1 2023-07-01 2024-06-30 12034574 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 12034574 bus:OrdinaryShareClass2 2023-07-01 2024-06-30 12034574 bus:OrdinaryShareClass2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 12034574 (England and Wales)

THE ORIGIN BEER COMPANY LTD

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

THE ORIGIN BEER COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024

Contents

THE ORIGIN BEER COMPANY LTD

BALANCE SHEET

AS AT 30 JUNE 2024
THE ORIGIN BEER COMPANY LTD

BALANCE SHEET (continued)

AS AT 30 JUNE 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 669,213 729,279
669,213 729,279
Current assets
Stocks 78,296 23,151
Debtors 4 153,069 167,859
Cash at bank and in hand 23,648 42,862
255,013 233,872
Creditors: amounts falling due within one year 5 ( 283,397) ( 182,753)
Net current (liabilities)/assets (28,384) 51,119
Total assets less current liabilities 640,829 780,398
Creditors: amounts falling due after more than one year 6 ( 1,722,674) ( 1,481,636)
Net liabilities ( 1,081,845) ( 701,238)
Capital and reserves
Called-up share capital 7 135 135
Share premium account 374,867 374,867
Profit and loss account ( 1,456,847 ) ( 1,076,240 )
Total shareholders' deficit ( 1,081,845) ( 701,238)

For the financial year 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of The Origin Beer Company Ltd (registered number: 12034574) were approved and authorised for issue by the Board of Directors on 25 March 2025. They were signed on its behalf by:

D Heslop
Director
THE ORIGIN BEER COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024
THE ORIGIN BEER COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 JUNE 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

The Origin Beer Company Ltd (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 Cornhill House, Cornhill On Tweed, Northumberland, TD12 4UD, England, 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 Company continues to be supported by the directors and investors throughout the investment phase. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the Company.

Given the current position, the directors believe that any foreseeable debts can be met 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 represents amounts receivable for the production, manufacture and sale of beer net of VAT and trade discounts.

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 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.

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.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost 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
Vehicles 25 % reducing balance
Fixtures and fittings 5 years straight line
Office equipment 5 years straight line
Computer equipment 3 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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

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. There have been no impairments noted this year.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct materials.

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.

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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including unpaid directors 12 11

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 July 2023 384,007 678,437 38,775 6,982 1,474 626 1,110,301
Additions 0 123,408 0 2,992 0 3,403 129,803
At 30 June 2024 384,007 801,845 38,775 9,974 1,474 4,029 1,240,104
Accumulated depreciation
At 01 July 2023 96,870 266,681 13,570 2,688 639 574 381,022
Charge for the financial year 38,401 142,942 6,301 1,685 295 245 189,869
At 30 June 2024 135,271 409,623 19,871 4,373 934 819 570,891
Net book value
At 30 June 2024 248,736 392,222 18,904 5,601 540 3,210 669,213
At 30 June 2023 287,137 411,756 25,205 4,294 835 52 729,279

4. Debtors

2024 2023
£ £
Trade debtors 82,085 52,983
Other debtors 70,984 114,876
153,069 167,859

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 91,079 58,090
Other taxation and social security 14,200 14,974
Obligations under finance leases and hire purchase contracts 115,656 96,672
Other creditors 62,462 13,017
283,397 182,753

Hire purchase obligations of £115,656 (2023 - £96,672) are secured over the assets to which they relate.

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

2024 2023
£ £
Obligations under finance leases and hire purchase contracts 211,205 257,983
Other creditors 1,511,469 1,223,653
1,722,674 1,481,636

Hire purchase obligations of £211,205 (2023 - £257,983) are secured over the assets to which they relate.

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
60 Ordinary A shares of £ 1.00 each 60 60
75 Ordinary B shares of £ 1.00 each 75 75
135 135

8. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 147,115 554,509

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Funds owed to key management personnel 1,466,029 1,154,002

Loans provided by the Company's directors are provided in accordance with a pre-existing loan agreement.