3 3 Branscombe Vale Brewery Limited 04600140 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is that of the brewing of beer Digita Accounts Production Advanced 6.30.9574.0 true 04600140 2024-01-01 2024-12-31 04600140 2024-12-31 04600140 bus:OrdinaryShareClass1 2024-12-31 04600140 core:CurrentFinancialInstruments 2024-12-31 04600140 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 04600140 core:FurnitureFittingsToolsEquipment 2024-12-31 04600140 core:LandBuildings 2024-12-31 04600140 core:MotorVehicles 2024-12-31 04600140 bus:SmallEntities 2024-01-01 2024-12-31 04600140 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 04600140 bus:FilletedAccounts 2024-01-01 2024-12-31 04600140 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 04600140 bus:RegisteredOffice 2024-01-01 2024-12-31 04600140 bus:Director1 2024-01-01 2024-12-31 04600140 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 04600140 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04600140 bus:Agent1 2024-01-01 2024-12-31 04600140 core:Goodwill 2024-01-01 2024-12-31 04600140 core:ComputerEquipment 2024-01-01 2024-12-31 04600140 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 04600140 core:LandBuildings 2024-01-01 2024-12-31 04600140 core:MotorVehicles 2024-01-01 2024-12-31 04600140 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 04600140 countries:EnglandWales 2024-01-01 2024-12-31 04600140 2023-12-31 04600140 core:FurnitureFittingsToolsEquipment 2023-12-31 04600140 core:LandBuildings 2023-12-31 04600140 core:MotorVehicles 2023-12-31 04600140 2023-01-01 2023-12-31 04600140 2023-12-31 04600140 bus:OrdinaryShareClass1 2023-12-31 04600140 core:CurrentFinancialInstruments 2023-12-31 04600140 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 04600140 core:FurnitureFittingsToolsEquipment 2023-12-31 04600140 core:LandBuildings 2023-12-31 04600140 core:MotorVehicles 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04600140

Branscombe Vale Brewery Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 December 2024

 

Branscombe Vale Brewery Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 8

 

Branscombe Vale Brewery Limited

Company Information

Director

Paul Christopher Dimond

Registered office

Great Seaside Farm
Branscombe
Seaton
Devon
EX12 3DP

Accountants

Easterbrook Eaton Limited
Chartered AccountantsEasterbrook Eaton Limited (Chartered Accountants)
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Branscombe Vale Brewery Limited

(Registration number: 04600140)
Abridged Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

214,367

219,774

Current assets

 

Stocks

6

71,636

66,286

Debtors

7

43,727

46,080

Cash at bank and in hand

 

108,634

121,321

 

223,997

233,687

Prepayments and accrued income

 

1,869

3,446

Creditors: Amounts falling due within one year

(106,068)

(114,502)

Net current assets

 

119,798

122,631

Net assets

 

334,165

342,405

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

334,164

342,404

Shareholders' funds

 

334,165

342,405

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 May 2025
 

.........................................
Paul Christopher Dimond
Director

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Great Seaside Farm
Branscombe
Seaton
Devon
EX12 3DP

These financial statements were authorised for issue by the director on 16 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

50% reducing balance

Barrels

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life.
An impairment review of Goodwill was undertaken in 2016 as a result of which the amortisation rate has been established to accommodate an anticipated useful life of Goodwill of five years from that date, as follows:

Asset class

Amortisation method and rate

Goodwill

20% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 January 2024

85,000

At 31 December 2024

85,000

Amortisation

At 1 January 2024

85,000

At 31 December 2024

85,000

Carrying amount

At 31 December 2024

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

188,885

296,490

60,455

545,830

At 31 December 2024

188,885

296,490

60,455

545,830

Depreciation

At 1 January 2024

-

272,843

53,213

326,056

Charge for the year

-

3,596

1,811

5,407

At 31 December 2024

-

276,439

55,024

331,463

Carrying amount

At 31 December 2024

188,885

20,051

5,431

214,367

At 31 December 2023

188,885

23,647

7,242

219,774

Included within the net book value of land and buildings above is £188,885 (2023 - £188,885) in respect of freehold land and buildings.
 

6

Stocks

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

2024
£

2023
£

Finished goods and goods for resale

69,500

64,697

Other inventories

2,136

1,589

71,636

66,286

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

9

Related party transactions

 

Branscombe Vale Brewery Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,480

12,480