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Registration number: 06002150

Hop Union Brewery Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2024

 

Hop Union Brewery Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

Hop Union Brewery Limited

(Registration number: 06002150)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

50,000

75,000

Tangible assets

5

732,488

760,123

 

782,488

835,123

Current assets

 

Stocks

6

34,805

46,805

Debtors

7

80,084

103,138

Cash at bank and in hand

 

202,173

117,932

 

317,062

267,875

Creditors: Amounts falling due within one year

8

(430,330)

(474,982)

Net current liabilities

 

(113,268)

(207,107)

Total assets less current liabilities

 

669,220

628,016

Creditors: Amounts falling due after more than one year

8

(289,112)

(317,354)

Provisions for liabilities

(74,364)

(61,290)

Net assets

 

305,744

249,372

Capital and reserves

 

Called up share capital

100

100

Retained earnings

305,644

249,272

Shareholders' funds

 

305,744

249,372

 

Hop Union Brewery Limited

(Registration number: 06002150)
Balance Sheet as at 30 November 2024

For the financial year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 August 2025 and signed on its behalf by:
 

Mr K Stone
Director

   
     
 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
20 Bonville Road
Bristol
BS4 5QH

These financial statements were authorised for issue by the Board on 6 August 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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

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;
- the costs incurred or to be incurred in respect of the transaction can be reliably measured; and
- and specific criteria have been met for each of the company's activities.

Government grants

Grants are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

Plant and machinery

10% straight line

Fixtures and fittings

10% and 25% staight line

Motor vehicles

25% straight line

Buildings

1% straight line

Land

0%

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.

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life. Upon transition to FRS102 the amortisation policy was reviewed and amended to 10 years straight line, based on the value of £250,000, being the value of the asset at the date of transition.

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

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.

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 stocks 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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 directors) during the year was 35 (2023 - 33).

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 December 2023

500,000

500,000

At 30 November 2024

500,000

500,000

Amortisation

At 1 December 2023

425,000

425,000

Amortisation charge

25,000

25,000

At 30 November 2024

450,000

450,000

Carrying amount

At 30 November 2024

50,000

50,000

At 30 November 2023

75,000

75,000

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

5

Tangible assets

Freehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2023

438,543

179,410

622,014

95,653

1,335,620

Additions

-

608

45,057

-

45,665

At 30 November 2024

438,543

180,018

667,071

95,653

1,381,285

Depreciation

At 1 December 2023

10,964

173,977

345,619

44,937

575,497

Charge for the year

2,193

2,418

50,930

17,759

73,300

At 30 November 2024

13,157

176,395

396,549

62,696

648,797

Carrying amount

At 30 November 2024

425,386

3,623

270,522

32,957

732,488

At 30 November 2023

427,579

5,433

276,395

50,716

760,123

Included within the net book value of land and buildings above is £425,386 (2023 - £427,579) in respect of freehold land and buildings.
 

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

6

Stocks

2024
£

2023
£

Raw materials and consumables

34,805

46,805

7

Debtors

2024
£

2023
£

Trade debtors

68,362

96,084

Other debtors

4,464

-

Prepayments

7,258

7,054

80,084

103,138

8

Creditors

Due within one year

Note

2024
£

2023
£

 

Loans and borrowings

9

31,722

28,857

Trade creditors

 

82,993

86,825

Amounts due to related parties

10

211,305

269,274

Social security and other taxes

 

99,366

61,603

Other creditors

 

194

12,190

Accruals

 

4,750

16,233

 

430,330

474,982

Due after one year

 

Loans and borrowings

9

289,112

317,354

2024
£

2023
£

Due after more than five years

After more than five years by instalments

258,530

257,965

-

-

The bank borrowings are secured against the freehold land and buildings.

The hire purchase contracts are secured against the assets concerned.

 

Hop Union Brewery Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

283,452

297,559

Hire purchase contracts

5,660

19,795

289,112

317,354

Current loans and borrowings

2024
£

2023
£

Bank borrowings

14,567

15,421

Bank overdrafts

3,020

530

Hire purchase contracts

14,135

12,906

31,722

28,857

Included in the loans and borrowings are the following amounts due after more than five years:

Bank loans and overdrafts after five years

The amount of the bank borrowings due by instalments after five years is £258,530 (2023 - £257,965).

10

Related party transactions

Loans from related parties

2024

Key management
£

Total
£

At start of period

269,274

269,274

Repaid

(58,135)

(58,135)

At end of period

211,139

211,139

2023

Key management
£

Total
£

At start of period

299,089

299,089

Repaid

(29,815)

(29,815)

At end of period

269,274

269,274

The above loans are interest free and repayable on demand.