Silverfin false false 31/07/2024 01/08/2023 31/07/2024 A K Ingram 01/08/2019 E Mcintosh 20/08/2019 G P Mckenzie 08/07/2019 28 April 2025 The principal activity of the business in the period was that of brewing and selling beer. SC635450 2024-07-31 SC635450 bus:Director1 2024-07-31 SC635450 bus:Director2 2024-07-31 SC635450 bus:Director3 2024-07-31 SC635450 2023-07-31 SC635450 core:CurrentFinancialInstruments 2024-07-31 SC635450 core:CurrentFinancialInstruments 2023-07-31 SC635450 core:Non-currentFinancialInstruments 2024-07-31 SC635450 core:Non-currentFinancialInstruments 2023-07-31 SC635450 core:ShareCapital 2024-07-31 SC635450 core:ShareCapital 2023-07-31 SC635450 core:RetainedEarningsAccumulatedLosses 2024-07-31 SC635450 core:RetainedEarningsAccumulatedLosses 2023-07-31 SC635450 core:LandBuildings 2023-07-31 SC635450 core:OtherPropertyPlantEquipment 2023-07-31 SC635450 core:LandBuildings 2024-07-31 SC635450 core:OtherPropertyPlantEquipment 2024-07-31 SC635450 core:CurrentFinancialInstruments core:Secured 2024-07-31 SC635450 core:MoreThanFiveYears 2024-07-31 SC635450 core:MoreThanFiveYears 2023-07-31 SC635450 bus:OrdinaryShareClass1 2024-07-31 SC635450 2023-08-01 2024-07-31 SC635450 bus:FilletedAccounts 2023-08-01 2024-07-31 SC635450 bus:SmallEntities 2023-08-01 2024-07-31 SC635450 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 SC635450 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 SC635450 bus:Director1 2023-08-01 2024-07-31 SC635450 bus:Director2 2023-08-01 2024-07-31 SC635450 bus:Director3 2023-08-01 2024-07-31 SC635450 core:OtherPropertyPlantEquipment core:BottomRangeValue 2023-08-01 2024-07-31 SC635450 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-08-01 2024-07-31 SC635450 2022-08-01 2023-07-31 SC635450 core:LandBuildings 2023-08-01 2024-07-31 SC635450 core:OtherPropertyPlantEquipment 2023-08-01 2024-07-31 SC635450 core:CurrentFinancialInstruments 2023-08-01 2024-07-31 SC635450 core:Non-currentFinancialInstruments 2023-08-01 2024-07-31 SC635450 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 SC635450 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC635450 (Scotland)

NEWBARNS BREWERY LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH THE REGISTRAR

NEWBARNS BREWERY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024

Contents

NEWBARNS BREWERY LIMITED

BALANCE SHEET

AS AT 31 JULY 2024
NEWBARNS BREWERY LIMITED

BALANCE SHEET (continued)

AS AT 31 JULY 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 931,794 906,055
931,794 906,055
Current assets
Stocks 53,796 67,205
Debtors 5 94,896 107,270
Cash at bank and in hand 64,263 85,359
212,955 259,834
Creditors: amounts falling due within one year 6 ( 223,946) ( 226,874)
Net current (liabilities)/assets (10,991) 32,960
Total assets less current liabilities 920,803 939,015
Creditors: amounts falling due after more than one year 7 ( 622,177) ( 676,299)
Provision for liabilities ( 72,830) 0
Net assets 225,796 262,716
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 225,696 262,616
Total shareholder's funds 225,796 262,716

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Newbarns Brewery Limited (registered number: SC635450) were approved and authorised for issue by the Board of Directors on 28 April 2025. They were signed on its behalf by:

G P Mckenzie
Director
NEWBARNS BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 2024
NEWBARNS BREWERY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 JULY 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

Newbarns Brewery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 13 Jane Street, Newbarns Brewery, Edinburgh, EH6 5HE, Scotland, 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 directors have 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.

Prior year adjustment

In the prior year, the bank loan was shown as being wholly due within one year. This has been corrected to show the balance due within and over one year separately as shown in note 2.

Turnover

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings 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. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery etc. 5 - 20 years straight line
Leases

The Company as lessee
Rentals under operating leases are charged 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 Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 cash in hand.

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, bank and other loans, are initially recognised at transaction price. 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.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

2. Prior year adjustment

In the prior period the bank loan was shown as being wholly due within one year. This has now been split to show the balance due in over one year as well.

As previously reported Adjustment As restated
Year ended 31 July 2023 £ £ £
Creditors due in < 1 year 571,972 (345,098) 226,874
Creditors due in > 1 year 331,201 345,098 676,299

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 12 9

4. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 August 2023 596,575 380,254 976,829
Additions 0 49,768 49,768
At 31 July 2024 596,575 430,022 1,026,597
Accumulated depreciation
At 01 August 2023 10,405 60,369 70,774
Charge for the financial year 2,601 21,428 24,029
At 31 July 2024 13,006 81,797 94,803
Net book value
At 31 July 2024 583,569 348,225 931,794
At 31 July 2023 586,170 319,885 906,055

5. Debtors

2024 2023
£ £
Trade debtors 94,508 104,414
Other debtors 388 2,856
94,896 107,270

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 46,935 46,687
Trade creditors 226 0
Taxation and social security 31,539 28,283
Obligations under finance leases and hire purchase contracts (secured) 9,992 21,217
Other creditors 135,254 130,687
223,946 226,874

The bank loans include an unsecured Bounce Back Loan and a term loan secured against the property it relates to. The hire purchase obligations are secured against the assets to which they relate.

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

2024 2023
£ £
Bank loans (secured) 353,346 371,513
Obligations under finance leases and hire purchase contracts (secured) 0 11,009
Other creditors 268,831 293,777
622,177 676,299

The bank loans include an unsecured Bounce Back Loan and a term loan secured against the property it relates to. The hire purchase obligations are secured against the assets to which they relate.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured) 190,155 226,988

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100