Quantock Ales Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC721442

QUANTOCK ALES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2025

QUANTOCK ALES LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

Contents	Page

Officers and professional advisers	1

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	2

Statement of financial position	3

Notes to the financial statements	5

QUANTOCK ALES LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	Mrs K Urquhart
	Mrs N Urquhart
	Mr A B Dickson

Registered office	26-30 Marine Place
	Buckie
	United Kingdom
	AB56 1UT

Accountants	Ritsons
	Chartered Accountants
	26-30 Marine Place
	Buckie
	Moray
	AB56 1UT

QUANTOCK ALES LIMITED

CHARTERED ACCOUNTANTS REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF QUANTOCK ALES LIMITED

YEAR ENDED 31 JANUARY 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Quantock Ales Limited for the year ended 31 January 2025, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Quantock Ales Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Quantock Ales Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Quantock Ales Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Quantock Ales Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Quantock Ales Limited. You consider that Quantock Ales 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 financial statements of Quantock Ales 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 financial statements.

Ritsons Chartered Accountants

26-30 Marine Place Buckie Moray AB56 1UT

30 October 2025

QUANTOCK ALES LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2025

	2025	2024
Note	£	£

FIXED ASSETS

Intangible assets	5	7,000	8,000
Tangible assets	6	540,299	605,186
		---------	---------
		547,299	613,186

CURRENT ASSETS

Stocks		36,134	50,943
Debtors	7	20,734	24,497
Cash at bank and in hand		707	3,317
		--------	--------
		57,575	78,757

CREDITORS: amounts falling due within one year	8	1,252,888	1,163,906
		------------	------------
NET CURRENT LIABILITIES		1,195,313	1,085,149
		------------	------------
TOTAL ASSETS LESS CURRENT LIABILITIES		( 648,014)	( 471,963)

CREDITORS: amounts falling due after more than one year	9	225,000	229,628
		---------	---------
NET LIABILITIES		( 873,014)	( 701,591)
		---------	---------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	( 873,114)	( 701,691)
	---------	---------
SHAREHOLDERS DEFICIT	( 873,014)	( 701,591)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

QUANTOCK ALES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 30 October 2025 , and are signed on behalf of the board by:

Mrs N Urquhart

Director

Company registration number: SC721442

QUANTOCK ALES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 26-30 Marine Place, Buckie, AB56 1UT, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

Despite the deficit position, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence in the foreseeable future.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Turnover

The turnover shown in the detailed income statement represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold improvements	-	10% straight line
Plant and machinery	-	6.67 - 33.33% straight line
Motor vehicles	-	33% straight line
Equipment	-	33% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand held on demand. Trade debtors and creditors are measured at the undiscounted amounts receivable from the customer or payable to a supplier, which is normally the invoiced price. Trade debtors are assessed at the end of each reporting period for the objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of income and retained earnings.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 12 (2024: 12 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 February 2024 and 31 January 2025	10,000
	--------
Amortisation
At 1 February 2024	2,000
Charge for the year	1,000
	--------
At 31 January 2025	3,000
	--------
Carrying amount
At 31 January 2025	7,000
	--------
At 31 January 2024	8,000
	--------

6. Tangible assets

	Long leasehold property	Plant and machinery	Equipment	Total
	£	£	£	£
Cost
At 1 February 2024	71,813	657,454	540	729,807
Additions	–	464	–	464
	--------	---------	----	---------
At 31 January 2025	71,813	657,918	540	730,271
	--------	---------	----	---------
Depreciation
At 1 February 2024	13,776	110,529	316	124,621
Charge for the year	7,181	57,990	180	65,351
	--------	---------	----	---------
At 31 January 2025	20,957	168,519	496	189,972
	--------	---------	----	---------
Carrying amount
At 31 January 2025	50,856	489,399	44	540,299
	--------	---------	----	---------
At 31 January 2024	58,037	546,925	224	605,186
	--------	---------	----	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	8,671	7,510
Other debtors	12,063	16,987
	--------	--------
	20,734	24,497
	--------	--------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	24,316	25
Trade creditors	54,199	52,397
Amounts owed to group undertakings and undertakings in which the company has a participating interest	1,032,158	982,274
Social security and other taxes	45,377	14,715
Other creditors	96,838	114,495
	------------	------------
	1,252,888	1,163,906
	------------	------------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	225,000	229,628
	---------	---------

10. Related party transactions

During the year, the company made advances to the Parent Company of £168,147 (2024: £165,761). Credits were received of £218,031 (2024: £449,124) which resulted in amounts due from the company at the year end of £1,032,158 (2024: £982,274). The loan is unsecured and interest free with no fixed repayment terms in place. During the year the company paid dividends of £nil to the directors.

11. Controlling party

Quantock Ales Limited is a subsidiary undertaking and is fully owned by Urquhart Brothers Limited whose registered office is 26-30 Marine Place, Buckie, AB56 1UT.