Registration number:
The Braybrooke Beer Company Limited
for the Year Ended 31 December 2024
The Braybrooke Beer Company Limited
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Braybrooke Beer Company Limited
Company Information
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Directors |
LA Wilson C J Emirali N J Trower |
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Registered office |
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Bankers |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Braybrooke Beer Company Limited
for the Year Ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Braybrooke Beer Company Limited for the year ended 31 December 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of The Braybrooke Beer Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Braybrooke Beer Company Limited and state those matters that we have agreed to state to the Board of Directors of The Braybrooke Beer Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Braybrooke Beer Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that The Braybrooke Beer Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Braybrooke Beer Company Limited. You consider that The Braybrooke Beer Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of The Braybrooke Beer Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Afon House
Worthing Road
Horsham
West Sussex
RH12 1TL
The Braybrooke Beer Company Limited
(Registration number: 10833987)
Balance Sheet as at 31 December 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets/(liabilities) |
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( |
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Capital and reserves |
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Called up share capital |
159 |
80 |
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Share premium reserve |
3,850,038 |
99,992 |
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Retained earnings |
(926,185) |
(748,169) |
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Shareholders' funds/(deficit) |
2,924,012 |
(648,097) |
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.
The Braybrooke Beer Company Limited
(Registration number: 10833987)
Balance Sheet as at 31 December 2024
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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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.
Statement of compliance
These 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 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.
Going concern
For the period ended 31 December 2024 the company incurred a loss. The company has the support of its directors and shareholders who have agreed to provide additional finance if necessary. Whilst this agreement is not contractual, the directors are of the opinion that it will provde sufficient resources to enable the company to continue trading for the foreseeable future and therefore the accounts have been prepared on a going concern basis.
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, customs duty, 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.
Government grants
Grants are accounted for under the accruals method. Grants of a revenue nature are recognised in "other income" within the profit and loss account in the same period as the related expenditure.
The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Foreign currency transactions and balances
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 provided for from the month in which the assets are brought into use. Depreciation is charged so as to write off the cost of tangible fixed assets over their expected useful lives as follows:
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Asset class |
Depreciation method and rate |
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Brewery plant and machinery |
Between 3 and 20 years on a straight line basis |
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Motor vehicles |
5 years on a straight line basis |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits.
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.
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. 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 not interest bearing and are stated at their nominal value.
The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 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 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.
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.
The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Staff numbers |
The average number of persons employed by the company (including directors) during the year was
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Tangible assets |
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Motor vehicles |
Properties under construction |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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Additions |
- |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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- |
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Charge for the year |
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- |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Stocks |
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2024 |
2023 |
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Other inventories |
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The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Debtors |
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Current |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments |
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- |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
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Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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The Braybrooke Beer Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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Loans and borrowings |
Non-current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Other borrowings |
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Current loans and borrowings
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2024 |
2023 |
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Bank borrowings |
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Other borrowings |
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Other borrowings
Other borrowings include loans totalling £115,427 (2023 - £112,080), which are unsecured, have a nominal interest rate of 2.5%, and for which the final instalments are due on 31 December 2033. The remaining loans totalling £883,527 (2023 - £1,276,800) are unsecured and interest free.
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Related party transactions |
Included in other borrowings falling due within one year is a loan totalling £544,875 (2023 - £900,000) from BB10 Holdings Limited.
Included in other borrowings falling due after more than one year is a loan totalling £239,984 (2023 - £376,800) from a director. This amount is unsecured and interest free.
Included in Debtors is a loan totalling £543,049 (2023 - £nil) to Biercraft Ltd. This amount is a trading loan and is unsecured and interest free,
In total, the director advanced £475 (2023- £nil) to the company during the year and £137,291 (2023 - £70,500) was repaid to the director during the year.
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate parent is