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Company Registration No. 04070995 (England and Wales)
HEPWORTH & COMPANY BREWERS LIMITED Unaudited accounts for the year ended 31 January 2025
HEPWORTH & COMPANY BREWERS LIMITED Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
HEPWORTH & COMPANY BREWERS LIMITED Company Information for the year ended 31 January 2025
Directors
A C Hepworth T A Goacher L Murphy
Company Number
04070995 (England and Wales)
Registered Office
The New Brewery Stane Street Pulborough West Sussex RH20 1DJ United Kingdom
Accountants
Worthweld PT Limited 5 Field End Maresfield Uckfield East Sussex TN22 2DJ
- 3 -
HEPWORTH & COMPANY BREWERS LIMITED Statement of financial position as at 31 January 2025
2025
2024
Notes
£
£
Fixed assets
Tangible assets
4
4,459,272
4,615,599
Investments
5
1,000
1,000
4,460,272
4,616,599
Current assets
Inventories
6
383,814
508,535
Debtors
7
244,841
253,434
Cash at bank and in hand
997
13,564
629,652
775,533
Creditors: amounts falling due within one year
8
(842,266)
(1,002,860)
Net current liabilities
(212,614)
(227,327)
Total assets less current liabilities
4,247,658
4,389,272
Creditors: amounts falling due after more than one year
9
(3,121,750)
(3,166,706)
Provisions for liabilities
Deferred tax
10
(86,598)
(92,206)
Net assets
1,039,310
1,130,360
Capital and reserves
Called up share capital
11
52,188
52,188
Share premium
396,749
396,749
Profit and loss account
590,373
681,423
Shareholders' funds
1,039,310
1,130,360
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2025 and were signed on its behalf by
A C Hepworth Director Company Registration No. 04070995
- 4 -
HEPWORTH & COMPANY BREWERS LIMITED Notes to the Accounts for the year ended 31 January 2025
1
Statutory information
HEPWORTH & COMPANY BREWERS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04070995. The registered office is The New Brewery, Stane Street, Pulborough, West Sussex, RH20 1DJ, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Going concern
The financial statements have been prepared on a going concern basis and on the basis of the continuing support of the Bank, Directors' and Major Shareholders'. Currently there is a high level of enquiries for new contracts and the Directors' have the reasonable expectations the company will be profitable, and as a result will improve the net working capital of the company.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Freehold property The Directors' have adopted not to depreciate the freehold property and have had the property professionally valued and the value of the property amounted to £3,770,000. Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
8.5%, 33%, 50% straight line
Motor vehicles
25% straight line
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
- 5 -
HEPWORTH & COMPANY BREWERS LIMITED Notes to the Accounts for the year ended 31 January 2025
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred taxation
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 accounts. 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
£
£
£
£
Cost or valuation
At cost
At cost
At cost
At 1 February 2024
3,386,980
2,899,442
50,830
6,337,252
Additions
-
7,543
-
7,543
Disposals
-
-
(33,591)
(33,591)
At 31 January 2025
3,386,980
2,906,985
17,239
6,311,204
Depreciation
At 1 February 2024
-
1,677,414
44,239
1,721,653
Charge for the year
-
158,680
1,353
160,033
On disposals
-
-
(29,754)
(29,754)
At 31 January 2025
-
1,836,094
15,838
1,851,932
Net book value
At 31 January 2025
3,386,980
1,070,891
1,401
4,459,272
At 31 January 2024
3,386,980
1,222,028
6,591
4,615,599
- 6 -
HEPWORTH & COMPANY BREWERS LIMITED Notes to the Accounts for the year ended 31 January 2025
2025
2024
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
407,242
447,248
5
Investments
Other investments
£
Valuation at 1 February 2024
1,000
Valuation at 31 January 2025
1,000
6
Inventories
2025
2024
£
£
Raw materials
164,982
186,679
Work in progress
47,940
59,175
Finished goods
170,892
262,681
383,814
508,535
7
Debtors
2025
2024
£
£
Amounts falling due within one year
Trade debtors
202,820
216,094
Accrued income and prepayments
35,949
34,509
Other debtors
6,072
2,831
244,841
253,434
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
246,806
249,064
VAT
105,462
228,685
Obligations under finance leases and hire purchase contracts
86,109
79,026
Trade creditors
333,394
354,339
Taxes and social security
52,400
71,573
Accruals
18,095
20,173
842,266
1,002,860
- 7 -
HEPWORTH & COMPANY BREWERS LIMITED Notes to the Accounts for the year ended 31 January 2025
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
2,210,385
2,359,232
Obligations under finance leases and hire purchase contracts
160,584
246,693
Trade creditors
23,781
33,781
Other creditors
727,000
527,000
3,121,750
3,166,706
Aggregate of amounts that fall due for payment after five years
1,721,425
1,818,390
Secured loans Security has been given on the bank loans totalling £2284425 (2024 - £2425382).
10
Deferred taxation
2025
2024
£
£
Accelerated capital allowances
86,598
92,206
2025
2024
£
£
Provision at start of year
92,206
121,503
Credited to the profit and loss account
(5,608)
(29,297)
Provision at end of year
86,598
92,206
11
Share capital
2025
2024
£
£
Allotted, called up and fully paid:
52,188 Ordinary shares of £1 each
52,188
52,188
12
Pension commitments
The Company operates a defined contribution pension scheme. The pension cost charge represents contributions payable by the Company and amounted to £56722 (2024 - £61675).
13
Operating lease commitments
2025
2024
£
£
At 31 January 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
86,109
81,049
Later than one year and not later than five years
160,584
248,716
246,693
329,765
- 8 -
HEPWORTH & COMPANY BREWERS LIMITED Notes to the Accounts for the year ended 31 January 2025
14
Transactions with related parties
At the balance sheet date the company was controlled by the Directors. G Lee (Shareholder) During the year G Lee continued to provide a loan to the company. Interest is payable on the loans at rates of 5-10% per annum. At the balance sheet date the amount due to G Lee was £480,000 (2024 - £380,000). A C Hepworth (Director) During the year A C Hepworth continued to provide a loan to the company. Interest is payable on the loan at a rates of 5% - 8% per annum. At the balance sheet date the amount due to A C Hepworth was £165,000 (2024 - £65000). Dr M C Price (Shareholder) During the year Dr M C Price continued to provided a loan to the company. Interest is payable on the loan at a rates of 5% - 8% per annum. At the balance sheet date the amount due to Dr M C Price £32000 (2024 - £32000).
15
Average number of employees
During the year the average number of employees was 27 (2024: 29).
- 9 -