| The Salcombe Brewery Co. Limited |
| Registered number: |
08692080 |
| Statement of Financial Position |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
- |
|
|
- |
| Tangible assets |
3 |
|
|
1,991,454 |
|
|
1,894,395 |
| Investments |
4 |
|
|
100 |
|
|
100 |
|
|
|
|
1,991,554 |
|
|
1,894,495 |
|
| Current assets |
| Inventories |
5 |
|
154,164 |
|
|
144,616 |
| Debtors |
6 |
|
321,898 |
|
|
301,843 |
| Cash at bank and in hand |
|
|
466,026 |
|
|
1,225,061 |
|
|
|
942,088 |
|
|
1,671,520 |
|
| Creditors: amounts falling due within one year |
7 |
|
(184,793) |
|
|
(156,244) |
|
|
|
|
|
|
|
| Net current assets |
|
|
|
757,295 |
|
|
1,515,276 |
|
| Total assets less current liabilities |
|
|
|
2,748,850 |
|
|
3,409,771 |
|
| Creditors: amounts falling due after more than one year |
8 |
|
|
(51,121) |
|
|
(16,113) |
|
|
|
| Net assets |
|
|
|
2,697,729 |
|
|
3,393,658 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
614,190 |
|
|
614,190 |
| Share premium |
|
|
|
5,917,879 |
|
|
5,917,879 |
| Capital redemption reserve |
|
|
|
407,141 |
|
|
407,141 |
| Profit and loss account |
|
|
|
(4,241,481) |
|
|
(3,545,552) |
|
| Shareholders' funds |
|
|
|
2,697,729 |
|
|
3,393,658 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
| John Tiner |
| Director |
| Approved by the board on 29 September 2025 |
|
| The Salcombe Brewery Co. Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts 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 (as applied to small entities by section 1A of the standard). |
|
|
Revenue recognition |
|
Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
|
|
Property, plant and equipment |
|
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings - 2% straight line
Plant and machinery - 10% straight line
Motor vehicles - 25% straight line
Furniture and fittings - 25% straight line |
|
|
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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. Amortisation is charged so as to allocate costs of intangibles less their residual values over their estimated useful lives, using the straight line method. The intangible assets are amortised over their useful economic life as follows:
Website - 25% straight line |
|
|
Inventories |
|
Inventories 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. |
|
| 1 |
Accounting policies (continued) |
|
|
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. |
|
|
Finance lease commitments |
|
Assets held under finance leases are recognised initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.
Assets held under finance leases are included in tangible fixed assets and depreciated and assessed for impairment losses in the same way as owned assets. |
|
|
Operating leasing commitments |
|
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. The benefits of lease incentives are recognised in the profit and loss account over the lease period. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
| 2 |
Intangible fixed assets |
| Other: |
| £ |
|
Cost |
|
At 1 January 2024 |
40,498 |
|
At 31 December 2024 |
40,498 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2024 |
40,498 |
|
At 31 December 2024 |
40,498 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
- |
|
At 31 December 2023 |
- |
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery |
|
Motor vehicles |
|
Fixtures and fittings |
|
Total |
| £ |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 January 2024 |
1,152,851 |
|
1,529,107 |
|
134,839 |
|
32,462 |
|
2,849,258 |
|
Additions |
18,704 |
|
262,677 |
|
49,393 |
|
1,781 |
|
332,555 |
|
Disposals |
- |
|
(24,950) |
|
- |
|
(24,950) |
|
At 31 December 2024 |
1,171,555 |
|
1,791,785 |
|
159,281 |
|
34,243 |
|
3,156,864 |
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
180,501 |
|
621,497 |
|
126,193 |
|
26,673 |
|
954,863 |
|
Charge for the year |
38,500 |
|
177,905 |
|
7,396 |
|
3,378 |
|
227,179 |
|
On disposals |
- |
|
- |
|
(16,633) |
|
- |
|
(16,633) |
|
At 31 December 2024 |
219,000 |
|
799,402 |
|
116,956 |
|
30,051 |
|
1,165,409 |
|
|
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
952,555 |
|
992,383 |
|
42,325 |
|
4,192 |
|
1,991,454 |
|
At 31 December 2023 |
972,350 |
|
907,610 |
|
8,646 |
|
5,789 |
|
1,894,395 |
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
Investments |
2024 |
|
2023 |
| £ |
£ |
|
Held at cost |
|
Unlisted investments |
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Inventories |
|
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
|
Raw materials |
59,139 |
|
67,031 |
|
Finished goods |
95,026 |
|
77,585 |
|
|
|
|
|
|
|
|
154,164 |
|
144,616 |
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
155,358 |
|
154,287 |
|
Other debtors |
166,540 |
|
147,556 |
|
|
|
|
|
|
|
|
321,898 |
|
301,843 |
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
53,163 |
|
60,090 |
|
Taxation and social security costs |
84,622 |
|
33,460 |
|
Obligations under finance lease and hire purchase contracts |
5,640 |
|
10,700 |
|
Other creditors |
41,368 |
|
51,994 |
|
|
|
|
|
|
|
|
184,793 |
|
156,244 |
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
35,376 |
|
- |
|
Other creditors |
15,745 |
|
16,113 |
|
|
|
|
|
|
|
|
51,121 |
|
16,113 |
|
|
|
|
|
|
|
|
|
|
|
|
Amounts owed under finance leases are secured against the assets to which they relate. |
|
|
| 9 |
Exceptional items |
|
|
During the year, exceptional items were incurred as follows: |
|
|
|
|
|
|
|
|
2024 |
|
2023 |
| £ |
£ |
|
|
Costs and Fees |
17,266 |
|
11,940 |
|
Marketing |
245 |
|
225 |
|
|
|
|
|
|
|
|
17,511 |
|
12,165 |
|
|
|
|
|
|
|
|
|
|
|
|
| 10 |
Other financial commitments |
2024 |
|
2023 |
| £ |
£ |
|
Total future minimum payments under non-cancellable operating leases |
|
|
|
126,550 |
|
155,833 |
|
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Average number of persons employed |
|
|
During the year the average number of employees was 21 (2023: 20). |
|
|
| 12 |
Other information |
|
|
The Salcombe Brewery Co. Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
Estuary View |
|
Ledstone |
|
Kingsbridge |
|
Devon |
|
TQ7 4BL |