Silverfin false false 31/12/2024 01/01/2024 31/12/2024 Mr W J H Freeland 02/01/2007 Mr M S Salmon 30/09/2006 Mr P D Salmon 23/07/2009 10 September 2025 The principal activity of the company is that of a manufacturer of beer. 05904714 2024-12-31 05904714 bus:Director1 2024-12-31 05904714 bus:Director2 2024-12-31 05904714 bus:Director3 2024-12-31 05904714 2023-12-31 05904714 core:CurrentFinancialInstruments 2024-12-31 05904714 core:CurrentFinancialInstruments 2023-12-31 05904714 core:Non-currentFinancialInstruments 2024-12-31 05904714 core:Non-currentFinancialInstruments 2023-12-31 05904714 core:ShareCapital 2024-12-31 05904714 core:ShareCapital 2023-12-31 05904714 core:RetainedEarningsAccumulatedLosses 2024-12-31 05904714 core:RetainedEarningsAccumulatedLosses 2023-12-31 05904714 core:LandBuildings 2023-12-31 05904714 core:PlantMachinery 2023-12-31 05904714 core:Vehicles 2023-12-31 05904714 core:FurnitureFittings 2023-12-31 05904714 core:LandBuildings 2024-12-31 05904714 core:PlantMachinery 2024-12-31 05904714 core:Vehicles 2024-12-31 05904714 core:FurnitureFittings 2024-12-31 05904714 bus:OrdinaryShareClass1 2024-12-31 05904714 2024-01-01 2024-12-31 05904714 bus:FilletedAccounts 2024-01-01 2024-12-31 05904714 bus:SmallEntities 2024-01-01 2024-12-31 05904714 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05904714 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05904714 bus:Director1 2024-01-01 2024-12-31 05904714 bus:Director2 2024-01-01 2024-12-31 05904714 bus:Director3 2024-01-01 2024-12-31 05904714 core:LandBuildings core:TopRangeValue 2024-01-01 2024-12-31 05904714 core:PlantMachinery 2024-01-01 2024-12-31 05904714 core:Vehicles 2024-01-01 2024-12-31 05904714 core:FurnitureFittings 2024-01-01 2024-12-31 05904714 2023-01-01 2023-12-31 05904714 core:LandBuildings 2024-01-01 2024-12-31 05904714 core:CurrentFinancialInstruments 2024-01-01 2024-12-31 05904714 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 05904714 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05904714 (England and Wales)

# BAYS BREWERY LIMITED

### Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

BAYS BREWERY LIMITED

## Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

BAYS BREWERY LIMITED

## BALANCE SHEET

As at 31 December 2024
BAYS BREWERY LIMITED

## BALANCE SHEET (continued)

As at 31 December 2024

| Note | 2024 |  | 2023
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 693,692 |  | 672,125
Investment property | 4 | 350,000 |  | 350,000
|  | 1,043,692 |  | 1,022,125
Current assets |  |  |  |
Stocks |  | 86,687 |  | 80,532
Debtors | 5 | 151,896 |  | 146,539
Cash at bank and in hand |  | 215,660 |  | 344,508
|  | 454,243 |  | 571,579
Creditors: amounts falling due within one year | 6 | ( 215,093) |  | ( 236,912)
Net current assets |  | 239,150 |  | 334,667
Total assets less current liabilities |  | 1,282,842 |  | 1,356,792
Creditors: amounts falling due after more than one year | 7 | ( 49,888) |  | ( 261,421)
Provision for liabilities |  | ( 107,971) |  | ( 101,868)
Net assets |  | 1,124,983 |  | 993,503
Capital and reserves |  |  |  |
Called-up share capital | 8 | 3,340 |  | 3,340
Profit and loss account |  | 1,121,643 |  | 990,163
Total shareholders' funds |  | 1,124,983 |  | 993,503

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.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Bays Brewery Limited (registered number: 05904714) were approved and authorised for issue by the Board of Directors on 10 September 2025. They were signed on its behalf by:

Mr M S Salmon Director |

BAYS BREWERY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
BAYS BREWERY LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Bays Brewery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales.
The address of the Company's registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
Devon
TQ2 7FF
United Kingdom
The principal place of business is:
Aspen Way
Paignton
Devon
TQ4 7QR
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

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 value added tax and discounts.
The company recognises revenue when goods are physically delivered to the customer.

##### Employee benefits

Defined contribution schemes
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.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

##### Tangible fixed assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The costs of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation is charged so as to write off the costs of assets, other than land and properties under construction over their estimated useful lives, as follows:

Land and buildings | 50 years straight line
Plant and machinery | 10 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
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.

##### Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

##### Stocks

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

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

##### Government grants

Grant income is accounted for using the accruals method. Revenue grants are recognised on a systematic basis over the periods to which the costs to which the grants relate to are recognised. Capital grants are recognised over the useful life of the related asset on the same basis as depreciation is charged.

#### 2. Employees

| 2024 |  | 2023
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 17 |  | 17

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 January 2024 | 325,384 |  | 586,526 |  | 158,022 |  | 199,296 |  | 1,269,228
Additions | 0 |  | 48,495 |  | 20,595 |  | 20,009 |  | 89,099
At 31 December 2024 | 325,384 |  | 635,021 |  | 178,617 |  | 219,305 |  | 1,358,327
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 January 2024 | 38,438 |  | 321,107 |  | 85,264 |  | 152,294 |  | 597,103
Charge for the financial year | 3,505 |  | 31,398 |  | 23,340 |  | 9,289 |  | 67,532
At 31 December 2024 | 41,943 |  | 352,505 |  | 108,604 |  | 161,583 |  | 664,635
Net book value |  |  |  |  |  |  |  |  |
At 31 December 2024 | 283,441 |  | 282,516 |  | 70,013 |  | 57,722 |  | 693,692
At 31 December 2023 | 286,946 |  | 265,419 |  | 72,758 |  | 47,002 |  | 672,125

Included within the net book value of land and buildings above is £283,441 (2023 - £286,946 ) in respect of freehold land and buildings.

#### 4. Investment property

| Investment property
| £
Valuation |
As at 01 January 2024 | 350,000
As at 31 December 2024 | 350,000

There has been no valuation of investment property by an independent valuer.

#### 5. Debtors

| 2024 |  | 2023
| £ |  | £
Trade debtors | 143,992 |  | 119,681
Amounts owed by directors | 0 |  | 19,445
Prepayments | 7,734 |  | 7,413
Other debtors | 170 |  | 0
| 151,896 |  | 146,539

#### 6. Creditors: amounts falling due within one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 10,042 |  | 35,527
Trade creditors | 75,991 |  | 78,920
Accruals and deferred income | 6,917 |  | 5,202
Corporation tax | 45,782 |  | 56,773
Other taxation and social security | 41,965 |  | 37,598
Obligations under finance leases and hire purchase contracts | 32,227 |  | 11,188
Other creditors | 2,169 |  | 11,704
| 215,093 |  | 236,912

Hire Purchase liabilities are secured on the individual assets taken out on hire purchase.
Bank loans are secured on the property owned by the company.

#### 7. Creditors: amounts falling due after more than one year

| 2024 |  | 2023
| £ |  | £
Bank loans | 8,128 |  | 185,116
Obligations under finance leases and hire purchase contracts | 0 |  | 32,225
Other creditors | 41,760 |  | 44,080
| 49,888 |  | 261,421

#### 8. Called-up share capital

| 2024 |  | 2023
| £ |  | £
Allotted, called-up and fully-paid |  |  |
3,340 Ordinary shares of £ 1.00 each | 3,340 |  | 3,340

#### 9. Related party transactions

Transactions with the entity's directors

| 2024 |  | 2023
| £ |  | £
Advances to the directors | 0 |  | 19,445

Interest has been charged at HMRC's official rate of interest.

#### 10. Reserves

Included in the profit and loss account balance carried forward are non-distributable reserves of £20,198 (2023 - £20,198). These reserves represent the cumulative revaluation gains, after provision for deferred tax, on the company's investment property.