Company Registration No. 10564120 (England and Wales)
STEAM TOWN BREWCO LIMITED
Unaudited accounts
for the year ended 30 June 2024
STEAM TOWN BREWCO LIMITED
Unaudited accounts
Contents
STEAM TOWN BREWCO LIMITED
Company Information
for the year ended 30 June 2024
Directors
David Mackie
Rebecca Holdsworth
Company Number
10564120 (England and Wales)
Registered Office
1 BISHOPSTOKE ROAD
EASTLEIGH
SO50 6AD
ENGLAND
Accountants
TBT Accountancy Ltd
Kingfisher House
Rownhams Lane
North Baddesley
Southampton
Hampshire
SO52 9LP
STEAM TOWN BREWCO LIMITED
Statement of financial position
as at 30 June 2024
Tangible assets
300,597
284,762
Cash at bank and in hand
174,183
197,225
Creditors: amounts falling due within one year
(178,825)
(174,950)
Net current assets
71,925
86,569
Total assets less current liabilities
372,522
371,331
Creditors: amounts falling due after more than one year
(28,535)
(68,538)
Provisions for liabilities
Deferred tax
(26,815)
(14,328)
Net assets
317,172
288,465
Called up share capital
198
198
Share premium
221,804
221,804
Capital redemption reserve
(2)
(2)
Profit and loss account
95,172
66,465
Shareholders' funds
317,172
288,465
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by
David Mackie
Director
Company Registration No. 10564120
STEAM TOWN BREWCO LIMITED
Notes to the Accounts
for the year ended 30 June 2024
STEAM TOWN BREWCO LIMITED is a private company, limited by shares, registered in England and Wales, registration number 10564120. The registered office is 1 BISHOPSTOKE ROAD, EASTLEIGH, SO50 6AD, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
These 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 £1.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
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 the 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Inventories held for distribution at no or nominal consideration are measured at the lower of replacement cost and original cost, adjusted where applicable for any loss of service potential.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Straight line over 10 and 15 years
Plant & machinery
10 - 25% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
25% straight line
Computer equipment
25% straight line
STEAM TOWN BREWCO LIMITED
Notes to the Accounts
for the year ended 30 June 2024
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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 accounts. 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 company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease's asset are consumed.
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024: £236,000 [2023: £265,500]
STEAM TOWN BREWCO LIMITED
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At cost
At 1 July 2023
253,710
203,275
17,932
46,510
9,889
531,316
Additions
8,059
62,966
-
2,308
358
73,691
At 30 June 2024
261,769
266,241
17,932
48,818
10,247
605,007
At 1 July 2023
81,397
108,485
11,786
37,684
7,202
246,554
Charge for the year
20,907
28,499
1,537
5,368
1,545
57,856
At 30 June 2024
102,304
136,984
13,323
43,052
8,747
304,410
At 30 June 2024
159,465
129,257
4,609
5,766
1,500
300,597
At 30 June 2023
172,313
94,790
6,146
8,826
2,687
284,762
Amounts falling due within one year
Trade debtors
17,549
14,490
Accrued income and prepayments
2,994
2,994
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
45,085
48,676
Trade creditors
47,134
51,774
Taxes and social security
16,596
9,333
Other creditors
20,398
21,913
7
Creditors: amounts falling due after more than one year
2024
2023
STEAM TOWN BREWCO LIMITED
Notes to the Accounts
for the year ended 30 June 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Director's loan account
196
2,196
196
2,196
This loan is interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 35 (2023: 34).