Company registration number 08387172 (England and Wales)
THE WIMBLEDON BREWERY COMPANY LIMITED
Unaudited financial statements
For the year ended 31 December 2024
Pages for filing with registrar
THE WIMBLEDON BREWERY COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
THE WIMBLEDON BREWERY COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
As at 31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
4
264,587
327,173
Investments
5
50
50
264,637
327,223
Current assets
Inventories
96,416
109,467
Trade and other receivables
6
202,480
187,035
Cash at bank and in hand
151,472
225,939
450,368
522,441
Current liabilities
7
(118,697)
(143,983)
Net current assets
331,671
378,458
Total assets less current liabilities
596,308
705,681
Non-current liabilities
8
(256,713)
(293,425)
Net assets
339,595
412,256
Equity
Called up share capital
13,525
13,525
Share premium account
1,887,975
1,887,975
Retained earnings
(1,561,905)
(1,489,244)
Total equity
339,595
412,256
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
THE WIMBLEDON BREWERY COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 May 2025 and are signed on its behalf by:
M C Gordon
Director
Company Registration No. 08387172
THE WIMBLEDON BREWERY COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
For the year ended 31 December 2024
- 3 -
Share capital
Share premium account
Retained earnings
Total
£
£
£
£
Balance at 1 January 2023
13,525
1,887,975
(1,453,422)
448,078
Year ended 31 December 2023:
Loss and total comprehensive income
-
-
(35,822)
(35,822)
Balance at 31 December 2023
13,525
1,887,975
(1,489,244)
412,256
Year ended 31 December 2024:
Loss and total comprehensive income
-
-
(72,661)
(72,661)
Balance at 31 December 2024
13,525
1,887,975
(1,561,905)
339,595
THE WIMBLEDON BREWERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 December 2024
- 4 -
1
Accounting policies
Company information
The Wimbledon Brewery Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 College Fields, Prince Georges Road, Wimbledon, London, SW19 2PT.
1.1
Accounting convention
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 company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Revenue
Revenue is recognised at the value of the beer and goods and services provided in the normal course of business, and is shown inclusive of excise duty and net of VAT and trade and settlement discounts and volume rebates. Revenue is recognised when substantially all of the risks and rewards of ownership are transferred to the buyer which is on despatch of the goods.
1.3
Property, plant and equipment
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
10 - 15% straight line
Fixtures, fittings & equipment
10 - 20% straight line
Computer equipment
25% straight line
Motor vehicles
25% straight line
1.4
Non-current investments
Interest in the subsidiary is initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investment is assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Inventories
Inventories 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 incurred in bringing the inventories to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE WIMBLEDON BREWERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 5 -
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
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.
Basic financial assets
Basic financial assets, which include trade and other receivables 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. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans 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.
Trade payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.8
Equity
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE WIMBLEDON BREWERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2024
1
Accounting policies
(Continued)
- 6 -
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
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 statement of financial position 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 income on a straight line basis over the term of the relevant lease.
1.13
Government grants
Government grants, including coronavirus business support grants, are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
THE WIMBLEDON BREWERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2024
- 7 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
13
13
4
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 January 2024
1,401,519
Additions
23,652
At 31 December 2024
1,425,171
Depreciation and impairment
At 1 January 2024
1,074,346
Depreciation charged in the year
86,238
At 31 December 2024
1,160,584
Carrying amount
At 31 December 2024
264,587
At 31 December 2023
327,173
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
50
50
6
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
90,480
129,017
Corporation tax recoverable
15,941
Other receivables
96,059
58,018
202,480
187,035
THE WIMBLEDON BREWERY COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 December 2024
- 8 -
7
Current liabilities
2024
2023
£
£
Trade payables
18,352
29,166
Taxation and social security
37,170
54,287
Other payables
63,175
60,530
118,697
143,983
8
Non-current liabilities
2024
2023
£
£
Other payables
256,713
293,425
9
Finance lease obligations
2024
2023
Future minimum lease payments due under finance leases:
£
£
Within one year
26,647
26,647
In two to five years
9,574
36,221
36,221
62,868
Finance lease payments represent rentals payable by the company for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is for four years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
10
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
159,000
208,000
11
Directors' transactions
At the balance sheet date, the total amount owed to the director is £222,602 (2023: £227,111). The full amount outstanding is comprised of a loan, which is repayable after more than one year and is included in non-current liabilities.
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