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REGISTERED NUMBER: 01166845 (England and Wales)















Financial Statements for the Year Ended 31st December 2024

for

Steiner Hops Limited

Steiner Hops Limited (Registered number: 01166845)






Contents of the Financial Statements
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Steiner Hops Limited

Company Information
for the Year Ended 31st December 2024







DIRECTORS: L S Gimbel IV
E Kentish Barnes





REGISTERED OFFICE: 15a Henley Business Park
Pirbright Road
Normandy
Guildford
Surrey
GU3 2DX





REGISTERED NUMBER: 01166845 (England and Wales)





AUDITORS: Moulton Johnson Limited
Chartered Accountants & Statutory Auditors
29a Crown Street
Brentwood
Essex
CM14 4BA

Steiner Hops Limited (Registered number: 01166845)

Balance Sheet
31st December 2024

31.12.24 31.12.23
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 90,716 47,937
Tangible assets 5 252,864 303,794
Investments 6 950 950
344,530 352,681

CURRENT ASSETS
Stocks 7 2,965,720 2,818,995
Debtors 8 1,551,606 1,201,868
Cash at bank 172,228 419,019
4,689,554 4,439,882
CREDITORS
Amounts falling due within one year 9 2,449,509 1,933,469
NET CURRENT ASSETS 2,240,045 2,506,413
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,584,575

2,859,094

CREDITORS
Amounts falling due after more than one
year

10

80,000

160,000
NET ASSETS 2,504,575 2,699,094

CAPITAL AND RESERVES
Called up share capital 75,000 75,000
Capital contribution reserve 1,261,116 1,261,116
Retained earnings 1,168,459 1,362,978
SHAREHOLDERS' FUNDS 2,504,575 2,699,094

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24th June 2025 and were signed on its behalf by:




L S Gimbel IV - Director



E Kentish Barnes - Director


Steiner Hops Limited (Registered number: 01166845)

Notes to the Financial Statements
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Steiner Hops Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover represents the net sales value of goods and services sold during the year, excluding VAT.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost, over the term of the lease and 15 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Steiner Hops Limited (Registered number: 01166845)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Provision for losses arising on forward contracts
It is the company's policy to match all significant forward purchase and sales contracts. The company regularly reviews its stock relating to to unmatched purchase contracts in order to identify whether losses are likely to be incurred and to ensure provision for these losses has been recognised in the financial statements.

Investments
Investments are recognised at cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1st January 2024 47,937
Additions 45,907
At 31st December 2024 93,844
AMORTISATION
Charge for year 3,128
At 31st December 2024 3,128
NET BOOK VALUE
At 31st December 2024 90,716
At 31st December 2023 47,937

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£
COST
At 1st January 2024 435,478
Additions 3,092
At 31st December 2024 438,570
DEPRECIATION
At 1st January 2024 131,684
Charge for year 54,022
At 31st December 2024 185,706
NET BOOK VALUE
At 31st December 2024 252,864
At 31st December 2023 303,794

Steiner Hops Limited (Registered number: 01166845)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£
COST
At 1st January 2024
and 31st December 2024 950
NET BOOK VALUE
At 31st December 2024 950
At 31st December 2023 950

7. STOCKS
31.12.24 31.12.23
£ £
Stock of raw materials 326,561 457,791
Processed and finished goods 2,639,159 2,361,204
2,965,720 2,818,995

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£ £
Trade debtors 843,132 496,042
Amounts owed by group undertakings 677,346 644,429
Other debtors 13,809 35,983
Deferred tax asset - 15,380
Prepayments 17,319 10,034
1,551,606 1,201,868

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£ £
Hire purchase contracts (see note 11) - 68,984
Trade creditors 56,129 26,383
Social security and other taxes 14,407 12,217
Due to group undertakings 2,286,062 1,765,350
Accrued expenses 92,911 60,535
2,449,509 1,933,469

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£ £
Amounts owed to group undertakings 80,000 160,000

Steiner Hops Limited (Registered number: 01166845)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

11. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.24 31.12.23
£ £
Gross obligations repayable:
Within one year - 70,654

Finance charges repayable:
Within one year - 1,670

Net obligations repayable:
Within one year - 68,984

Non-cancellable
operating leases
31.12.24 31.12.23
£ £
Within one year 126,756 126,756
Between one and five years 51,500 178,256
178,256 305,012

12. SECURED DEBTS

The company has provided an unlimited debenture to its bankers which incorporates a fixed and floating charge over the assets of the company, a cross-guarantee and a right of set-off in respect of a fellow subsidiary, Hopsteiner Services Limited.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Ian Sutton ACA FCCA (Senior Statutory Auditor)
for and on behalf of Moulton Johnson Limited

14. OTHER FINANCIAL COMMITMENTS

It is the company's policy to match all significant forward purchase and sales contracts. However, the company's customer base has changed over recent years to include smaller breweries. This has resulted in the company now having forward purchase contracts that are not fully matched to a sales contract.

The company regularly reviews its stock relating to unmatched purchase contracts in order to identify whether losses are likely to be incurred and to ensure provision for these losses has been recognised in the financial statements.

In addition, the company enters into forward contracts to buy currency at specified rates from time to time. This normally occurs when the directors are aware of future liabilities on forward purchase contracts arising in foreign currencies and these are then covered partially or in full depending on the cash requirements of the business.

In the opinion of the directors, the company had no unmatched commitments on forward contracts that represented a significant risk to the company at the balance sheet date.

Steiner Hops Limited (Registered number: 01166845)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2024

15. RELATED PARTY DISCLOSURES

S.S. Steiner Inc.
Parent company

During the year, the company sold products and services amounting to £275,944 (2023: £66,740) and purchased products and services amounting to £2,279,559 (2023: £1,749,020) from its parent company.

The balance due to the parent company at the balance sheet date amounted to £617,774 (2023: £961,594).

Simon H. Steiner, Hopfen, GmbH
A fellow subsidiary

During the year, the company sold products and services amounting to £514,145 (2023: £406,384) to Simon H. Steiner, Hopfen, GmbH. In addition, the company purchased products amounting to £1,489,641 (2023: £1,209,090) from its fellow subsidiary and were charged interest on loans of £68,500 (2023: £42,900).

During the year, Simon H. Steiner, Hopfen, GmbH advanced a short term loan to the company which attracts interest at a rate of 8.50% per annum. The balance on this loan at 31st December 2024 amounted to £1,200,000.

In the previous year, Simon H. Steiner, Hopfen, GmbH advanced another short-term loan to the company which attracted interest at a rate of 10.50% per annum and was repaid in full during the year. The balance on this loan amounted to £600,000 at 31st December 2023.

In 2021, Simon H. Steiner, Hopfen, GmbH advanced a long-term loan to the company which attracts interest at a rate of 3.25% per annum, the balance of this loan at 31st December 2024 amounted to £160,000 (2023: £240,000) of which £80,000 (2023: £80,000) is due within one year.

The overall balance due to Simon H. Steiner, Hopfen, GmbH at the balance sheet date amounted to £1,748,288 (2023: £978,782) of which £1,668,288 (2023: £818,782) is due within one year.

Hopsteiner Services Limited
A fellow subsidiary

During the year, the company leased a property from its fellow subsidiary Hopsteiner Services Limited amounting to £187,155 (2023: £200,438). This also included recharges of rates and utility costs.

The company also provided an interest-free loan to its fellow subsidiary during the year. The balance due to Hopsteiner Services Limited at the balance sheet date amounted to £677,346 (2023: £644,429).

In 2021, Hopsteiner Services Limited acquired a mortgage to purchase a commercial property. The company has provided a right of set-off and cross guarantee to the bank.

16. ULTIMATE PARENT COMPANY

The ultimate parent company is S.S. Steiner Inc. a company incorporated in the United States of America. The parent company prepares consolidated accounts and its registered office is 725 5th Avenue, New York, NY 10022.