| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 OCTOBER 2024 |
| FOR |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 October 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Business Advisors, Accountants and |
| Statutory Auditors |
| Q Court |
| 3 Quality Street |
| Edinburgh |
| EH4 5BP |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| BALANCE SHEET |
| 31 October 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Capital redemption reserve |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 October 2024 |
| 1. | STATUTORY INFORMATION |
| Edinburgh Craft Brew Company (Holdings) Limited is a |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The company made a profit of £11,908 (2023 - £40,075) in the current financial year and has net assets of £11,739 (2023 net liabilities - £169). The ability of the company to continue as a going concern is dependent on the ability of the company to secure rent agreements with tenants and on the parent company not seeking repayment of amounts owed until such time when the company has sufficient funds to meet all its liabilities without support. |
| The directors of the parent company, Caledonian Heritable Limited, have provided written confirmation that they are willing to continue to financially support Edinburgh Craft Brew Company (Holdings) Limited for a period of at least 12 months from the approval of the financial statements. |
| Therefore, as there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, the directors have concluded this does not represent a material uncertainty with regards to going concern. |
| Thus, the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business. |
| TURNOVER |
| Turnover comprises revenue recognised by the company in respect of the rental of the investment property to a third party. |
| INVESTMENT PROPERTY |
| Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the statement of income and retained earnings. |
| Investment property has been valued by the directors at 31 October 2024. The directors consider the market value to not be materially different to the carrying value. |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| FINANCIAL INSTRUMENTS |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. |
| TAXATION |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| GROUP TREASURY FACILITY |
| The company operates as a subsidiary within the Caledonian Heritable group. The parent company acts as treasury manager for the group, managing financing, borrowing facilities and cash on a group wide basis. |
| As a result, excess cash generated by the company can be used within the wider group to manage the group financing as required or cash requirements in excess of cash generated is provided by the wider group. |
| The company is therefore reliant on the parent company for such funding requirements and the directors have obtained confirmation from the parent company that such funding will be made available to the company for working capital purposes, should it be required. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 November 2023 |
| and 31 October 2024 |
| NET BOOK VALUE |
| At 31 October 2024 |
| At 31 October 2023 |
| The basis of valuations were made by the directors, on an open market value for existing use basis. |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Taxation and social security |
| Accruals and deferred income |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed to group undertakings |
| The parent company, Caledonian Heritable Limited, holds a fixed charge over the property and a floating charge over company assets for the intercompany loan balance. |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary Shares | 1 | 800 | 800 |
| 8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 9. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| EDINBURGH CRAFT BREW COMPANY (HOLDINGS) |
| LIMITED (REGISTERED NUMBER: SC480047) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 October 2024 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The parent undertaking of the largest and smallest group for which consolidated financial statements are prepared is Caledonian Heritable Limited. Consolidated financial statements for Caledonian Heritable Limited are available from Companies House with a registered address of 46 Charlotte Square, Edinburgh, EH2 4HQ. |
| Caledonian Heritable is ultimately controlled by K.H.M Doyle. |