Kingfisher Beer Europe Limited

Registered number

02367133

Report and Financial Statements

31 December 2024

API Partnership Ltd t/a Chandler and Georges

Chartered Accountants

75 Westow Hill

London

SE19 1TX

www.cgca.co.uk

0208 761 2213

Kingfisher Beer Europe Limited
Report and accounts
Contents




Page

Company information	1
Directors' report	2
Statement of directors' responsibilities	3
Strategic report	4 - 5
Independent auditor's report	6 - 8
Income statement	9
Statement of financial position	10
Statement of changes in equity	11
Statement of cash flows	12
Notes to the financial statements	13 - 21


Following pages do not form part of statutory accounts
Profit and loss account - summary	22
Profit and loss account - detailed	23

Kingfisher Beer Europe Limited

Company Information

Directors

Sir E Peacock

K D Price

Lord J D B Taylor (resigned on 19 January 2024)

Auditors

API Partnership Ltd t/a Chandler and Georges

75 Westow Hill

London

SE19 1TX

Registered office

Kingfisher House 380C

New Hythe Lane

Aylesford

Kent

ME20 6RZ

Registered number

02367133

Kingfisher Beer Europe Limited
Registered number:		02367133
Directors' Report

The directors present their report and financial statements for the year ended 31 December 2024.

Principal activities
The company’s principal activity is the selling of lager and other beverages to on trade and off trade premises.

Directors
The following persons served as directors during the year:

	Sir E Peacock
	K D Price
	Lord J D B Taylor (resigned on 19 January 2024)

Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.



This report was approved by the board on 24 September 2025 and signed on its behalf.



Sir E Peacock
Director

Kingfisher Beer Europe Limited
Statement of Directors' Responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Kingfisher Beer Europe Limited
Strategic Report


Business review
The company experienced 14.8% growth in turnover during the year, with liquid sale volumes increasing from 93.8K hectolitres in 2023 to 102.8K hectolitres in 2024. The gross profit margins also improved compared to 2023, increasing from 27% to 28%, resulting to a £1.1 million increase in gross profit. This increase in gross profit was largely absorbed by sales and marketing drives, which led to distribution costs increasing by £922K. Administrative expenses increased broadly in line with inflation. Operating profit was negatively impacted by anticipated sales during the 2024 UEFA European Football Championship not materialising as expected. Overall a small operating profit of £21.5K was achieved for the year, compared to an operating loss of £46.8K in 2023. EBITDA increased by £85K in 2024 to £243K (2023 £158K). However interest payable of £423K gave rise to an overall loss for the year of £401.4K (2023, loss of £375.6K). The company's reliance on debt finance since Covid19 (in the form of CBILS, overdrafts and invoice financing), combined with rising interest rates, has resulted to an increase in interest charged. It is acknowledged by the Board that 'interest cover' is a key financial metric that needs to be redressed by continuing the upward growth of EBITDA.
Principal risks and uncertainties
The principal risks and uncertainties facing the company are: Operating in a declining market with customer preferences and tastes shifting to healthier options. Young adults are more inclined not to consume alcoholic beverages. Trend towards drinking at home instead of in restaurants and bars. Fierce competition from brands that have very large marketing and R&D budgets. Consumer confidence and cost-of-living pressures reducing demand for dining out. The company is exposed to interest rate risk due to high levels of debt finance. Upward employment cost pressures, caused by the increased employers NI rate and the lower employers NI threshold. Cashflow constraints are a principal risk faced by the company. Cash is carefully monitored and the bank is regularly updated with forecasts. In the post year end period an equity injection of £500,000 was secured to allow the business to overcome cashflow constraints and respond to the changing landscape of the sector.
Future developments
The company intends to focus its activities on promoting the Kingfisher portfolio, with particular focus on keg sales, which offer the highest profit margins. In addition, the directors intend to continue to invest in the promotion of new product lines, new on-trade and off-trade collaborations and the exploration of new geographical markets.
Financial instruments
The company has elevated liquidity and cashflow exposure arising from trading activities which are largely conducted in sterling. The company’s principal financial instruments comprise of trade debtors and trade creditors, invoice financing facilities, an overdraft and longer term (CIBLS) borrowing.


This report was approved by the board on 24 September 2025 and signed on its behalf.



Sir E Peacock
Director

Kingfisher Beer Europe Limited
Independent auditor's report
to the members of Kingfisher Beer Europe Limited

Opinion

We have audited the financial statements of Kingfisher Beer Europe Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
●	have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the directors’ responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
●	the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
●	we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the alcoholic beverages industry;
●	we focused on laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment and environmental and health and safety legislation;
●	we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
●	identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
	We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
●	making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
●	considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
	To address the risk of fraud through management bias and override of controls, we:
●	performed analytical procedures to identify any unusual or unexpected relationships;
●	tested journal entries to identify unusual transactions;
●	assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
●	investigated the rationale behind significant or unusual transactions.
●	In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
●	agreeing financial statement disclosures to underlying supporting documentation;
●	reading the minutes of meetings of those charged with governance;
●	enquiring of management as to actual and potential litigation and claims; and
●	reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.


Mr Panos Karageorghis
(Senior Statutory Auditor)		75 Westow Hill
for and on behalf of		London
API Partnership Ltd t/a Chandler and Georges		SE19 1TX
Statutory Auditor
24 September 2025

Kingfisher Beer Europe Limited
Income Statement
for the year ended 31 December 2024


Notes		2024		2023
£			£

Turnover	2	24,323,972		21,192,083

Cost of sales		(17,501,460)		(15,465,272)

Gross profit		6,822,512		5,726,811

Distribution costs		(3,863,009)		(2,941,106)
Administrative expenses		(2,937,984)		(2,832,513)

Operating profit/(loss)	3	21,519		(46,808)

Interest payable	5	(422,967)		(328,748)

Loss on ordinary activities before taxation		(401,448)		(375,556)

Tax on loss on ordinary activities	6	-		-

Loss for the financial year		(401,448)		(375,556)

Kingfisher Beer Europe Limited
Statement of Financial Position
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Intangible assets	7		153,291			111,433
Tangible assets	8		630,437			477,324
Investments	9		250,000			250,000
			1,033,728			838,757

Current assets
Stocks	10	1,112,790			1,033,695
Debtors	11	4,241,360			3,212,333
Cash at bank and in hand		44,501			191,061
		5,398,651			4,437,089

Creditors: amounts falling due within one year	12	(7,579,993)			(5,376,143)

Net current liabilities			(2,181,342)			(939,054)

Total assets less current liabilities			(1,147,614)			(100,297)

Creditors: amounts falling due after more than one year	13		(1,197,403)			(1,466,667)

Net liabilities			(2,345,017)			(1,566,964)

Capital and reserves
Called up share capital	15		1,100,000			1,100,000
Profit and loss account	16		(3,445,017)			(2,666,964)

Total equity			(2,345,017)			(1,566,964)




Sir E Peacock
Director
Approved by the board on 24 September 2025

Kingfisher Beer Europe Limited
Statement of Changes in Equity
for the year ended 31 December 2024

Share		Share		Other		Profit		Total
capital		premium		reserves		and loss
account
£		£		£		£		£

At 1 January 2023	100,000		-		-		(2,291,408)		(2,191,408)

Loss for the financial year							(375,556)		(375,556)

Shares issued	1,000,000		-						1,000,000

At 31 December 2023	1,100,000		-		-		(2,666,964)		(1,566,964)



At 1 January 2024	1,100,000		-		-		(2,666,964)		(1,566,964)

Loss for the financial year							(401,448)		(401,448)

Prior year adjustment - change in accounting policies							(376,605)		(376,605)

At 31 December 2024	1,100,000		-		-		(3,445,017)		(2,345,017)

Kingfisher Beer Europe Limited
Statement of Cash Flows
for the year ended 31 December 2024

Notes		2024		2023
£			£
Operating activities
Loss for the financial year		(401,448)		(375,556)

Adjustments for:
Interest payable		422,967		328,748
Depreciation		185,544		193,605
Amortisation of goodwill		35,955		11,168
Increase in stocks		(79,095)		(12,287)
(Increase)/decrease in debtors		(1,029,027)		263,359
Increase/(decrease) in creditors		1,072,950		(657,416)
		207,846		(248,379)

Interest paid		(422,967)		(328,748)

Cash used in operating activities		(215,121)		(577,127)

Investing activities
Payments to acquire intangible fixed assets		(77,813)		(18,366)
Payments to acquire tangible fixed assets		(338,657)		(267,471)

Cash used in investing activities		(416,470)		(285,837)

Financing activities
Proceeds from the issue of shares		-		1,000,000
Issue / (repayment) of loans		462,943		(159,729)

Cash generated by financing activities		462,943		840,271

Net cash used
Cash used in operating activities		(215,121)		(577,127)
Cash used in investing activities		(416,470)		(285,837)
Cash generated by financing activities		462,943		840,271

Net cash used		(168,648)		(22,693)

Cash and cash equivalents at 1 January		173,993		196,686
Cash and cash equivalents at 31 December		5,345		173,993

Cash and cash equivalents comprise:
Cash at bank		44,501		191,061
Bank overdrafts	12	(39,156)		(17,068)
		5,345		173,993

Kingfisher Beer Europe Limited
Notes to the Accounts
for the year ended 31 December 2024

1	Summary of significant accounting policies

	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
	Change in accounting policy
	In order to provide an ongoing framework to manage costs, improve efficiency and make informed decisions, the company has adopted standard costing. This has given rise to a prior year adjustment resulting to the restating of prior year financial statements. The impact of the change on the financial statements is as follows: Prior period adjustment: Retained earnings at 1st January 2024 have been restated to reflect the new policy, resulting to an increase in losses of £376,605. Current and future impact: The new policy will not have a material impact on current or future periods.


	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Leasehold land and buildings			over the lease term
	Motor vehicles			over 5 years
	Fixtures, fittings, tools and equipment			2 to 5 years


	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Going concern
	In August 2024 the CBILS Loan repayment terms were extended to a ten-year term, ending in June 2030, materially reducing the annual repayments, allowing the company to be in a stronger financial position. The CBILS loan product came with government backed overdraft facilities which were also renewed in 2024, allowing for more liquidity within the business. During the year the company invested in the promotion of new product lines, new on-trade and off-trade collaborations and the exploration of new geographical markets, illustrating the Board's commitment to reposition the company's activities in response to changes in consumer demand and external economic factors which the sector as a whole is experiencing. The company has a supportive board, which looks towards the longevity of the business and in 2025 an equity injection of £500,000 was secured to allow the business to overcome cashflow constraints and respond the changing landscape of the sector. The financial statements have been prepared on a going concern basis since the directors have prepared trading and cashflow forecasts, which show that the company will have sufficient working capital for the foreseeable future.


	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Borrowings
	Interest-bearing borrowings are recorded at present value, net of transaction costs, 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.

	Research and development
	Research and development expenditure is written off as incurred, except the development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Government Grants
	Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed.


2	Analysis of turnover					2024		2023
£							£

	Sale of goods					24,323,972		21,192,083

	By geographical market:

	UK					22,696,924		19,681,466
	Europe					1,627,048		1,510,617
						24,323,972		21,192,083


3	Operating profit					2024		2023
£							£
	This is stated after charging:

	Depreciation of owned fixed assets					185,544		193,604
	Amortisation of goodwill					35,955		11,168
	Operating lease rentals - plant and machinery					150,523		114,901
	Operating lease rentals - land and buildings					44,080		42,737
	Auditors' remuneration for audit services					47,404		37,601


4	Staff costs					2024		2023
£							£

	Wages and salaries					2,219,186		2,060,078
	Social security costs					245,039		224,270
	Other pension costs					215,040		187,088
						2,679,265		2,471,436


	Average number of employees during the year					Number	Number

	Administration					15		15
	Marketing					7		7
	Sales					22		22
						44		44


5	Interest payable					2024		2023
£							£

	Bank loans and overdrafts					422,967		328,748


6	Taxation					2024		2023
£							£
	Analysis of charge in period

	Tax on profit on ordinary activities					-		-

	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
						2024		2023
£							£
	Loss on ordinary activities before tax					(401,448)		(375,556)

	Standard rate of corporation tax in the UK					25%		25%

£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					(100,362)		(93,889)

	Effects of:
	Expenses not deductible for tax purposes					138,641		117,487
	Capital allowances for period in excess of depreciation					(38,279)		(23,598)

	Current tax charge for period					-		-




7	Intangible fixed assets							£
	Branding:

	Cost
	At 1 January 2024							130,049
	Additions							77,813
	At 31 December 2024							207,862

	Amortisation
	At 1 January 2024							18,616
	Provided during the year							35,955
	At 31 December 2024							54,571

	Carrying amount
	At 31 December 2024							153,291
	At 31 December 2023							111,433

	Amortisation is charged over a 10 year period.


8	Tangible fixed assets
		Land and buildings		Motor Vehicles		Fixtures, fittings, tools and equipment		Total
		At cost		At cost		At cost
£			£		£		£
	Cost or valuation
	At 1 January 2024	11,115		145,096		1,882,866		2,039,077
	Additions	-		-		338,657		338,657
	At 31 December 2024	11,115		145,096		2,221,523		2,377,734

	Depreciation
	At 1 January 2024	2,779		66,504		1,492,470		1,561,753
	Charge for the year	1,391		16,577		167,576		185,544
	At 31 December 2024	4,170		83,081		1,660,046		1,747,297

	Carrying amount
	At 31 December 2024	6,945		62,015		561,477		630,437
	At 31 December 2023	8,336		78,592		390,396		477,324



9	Investments

Other
investments
£
	Cost
	At 1 January 2024							250,000

	At 31 December 2024							250,000

10	Stocks					2024		2023
£							£

	Finished goods and goods for resale					1,112,790		1,033,695


11	Debtors					2024		2023
£							£

	Trade debtors					3,686,869		2,891,174
	Amounts owed by group undertakings and undertakings in which the company has a participating interest					200,342		200,342
	Other debtors					55,245		-
	Prepayments and accrued income					298,904		120,817
						4,241,360		3,212,333


12	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank overdrafts					39,156		17,068
	Bank loans					3,152,821		2,420,614
	Trade creditors					3,203,438		1,835,865
	Other taxes and social security costs					433,049		232,661
	Other creditors					62,271		61,249
	Accruals and deferred income					689,258		808,686
						7,579,993		5,376,143


13	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loans					1,197,403		1,466,667


14	Loans					2024		2023
£							£
	Analysis of maturity of debt:
	Within one year or on demand					266,667		266,667
	Between one and two years					266,667		266,667
	Between two and five years					800,001		800,001
	After five years					130,735		333,332
						1,464,070		1,666,667

	Bank Loans and overdrafts falling due within one are year, relate to an invoice financing facility which is secured against certain trade debtors and other assets of the company under a fixed and floating charge dated 16 May 2024 over all present and future assets of the company. Bank Loans falling due after one year, relate to the Coronavirus Business Interruption Loan (CBILS). In August 2024 the CBILS Loan repayment terms were extended to a ten-year term, ending in June 2030. The interest rate on this loan is 3.8% above base rate.


15	Share capital	Nominal		2024		2024		2023
value			Number		£		£
	Allotted, called up and fully paid:
	A Ordinary shares	£1 each		300,000		300,000		300,000
	B Ordinary shares	£1 each		300,000		300,000		300,000
	Preference shares	£1 each		500,000		500,000		500,000
						1,100,000		1,100,000


16	Profit and loss account					2024		2023
£							£

	At 1 January					(2,666,964)		(2,291,408)
	Loss for the financial year					(401,448)		(375,556)
	Prior year adjustment					(376,605)		-

	At 31 December					(3,445,017)		(2,666,964)


17	Other financial commitments

	Total future minimum lease payments under non-cancellable operating leases:

		Land and buildings		Land and buildings	Other		Other
		2024		2023		2024		2023
£			£		£		£
	Falling due:
	within one year	47,422		42,738		-		-


18	Contingent liabilities

	Research and development tax relief claims for 2020 and 2021 totalling £196,000 are undergoing a HMRC Alternative Dispute Resolution. Whilst the directors believe matters will be concluded in their favour, the outcome remains uncertain.


19	Controlling party

	The company's parent is United Breweries International (UK) Ltd, incorporated in the United Kingdom. The address of United Breweries International (UK) Limited is Kingfisher House, 380c, New Hythe Lane, Aylesford, Kent, United Kingdom, ME20 6RZ.


20	Presentation currency

	The financial statements are presented in Sterling.


21	Legal form of entity and country of incorporation

	Kingfisher Beer Europe Limited is a private company limited by shares and incorporated in England.


22	Principal place of business

	The address of the company's principal place of business and registered office is:

	Kingfisher House 380C
	New Hythe Lane
	Aylesford
	Kent
	ME20 6RZ