Hop Tub Brewing Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Hop Tub Brewing Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14434283 . The registered office is 113 High Street, Hurstpierpoint, Hassocks, BN6 9PU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Presentation currency

The accounts are presented in £ sterling.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	20% straight line
Plant & Machinery	20% straight line
Fixtures & Fittings	20% straight line
Computer Equipment	20% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the income statement so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement as incurred.

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

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Hop Tub Brewing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 20 (2023: 4)

4. Prior Period Adjustment

In 2025 it came to the attention of the directors that an accounting error had been made during the preparation of the prior year financial statements. This error has been corrected by restating each of the affected financial statement line items for the prior period (as at 31 October 2023), as summarised below:

Balance sheet category	As previously reported (£)	Adjustments (£)	As restated (£)
Debtors - Directors loan account	653	10,999	11,652
Other creditors >1 year	(250,000)	220,000	(30,000)
Share capital	(1)	(399)	(400)
Share premium	-	(230,600)	(230,600)

5. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 November 2023	64,932	57,227	3,912	334	126,405
Additions	6,320	645	5,093	1,687	13,745

As at 31 October 2024	71,252	57,872	9,005	2,021	140,150

...CONTINUED

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Hop Tub Brewing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

Depreciation
As at 1 November 2023	4,106	6,141	169	22	10,438
Provided during the period	14,144	11,511	1,284	150	27,089

As at 31 October 2024	18,250	17,652	1,453	172	37,527

Net Book Value
As at 31 October 2024	53,002	40,220	7,552	1,849	102,623

As at 1 November 2023	60,826	51,086	3,743	312	115,967

6. Stocks

	2024	2023 as restated
	£	£
Stock	7,565	-

7. Debtors

	2024	2023 as restated
	£	£
Due within one year
Trade debtors	1,013	996
Prepayments and accrued income	3,380	-
Rent Deposit	5,750	5,750
Corporation tax recoverable assets	848	-
VAT	-	5,199
Directors' loan accounts	2,619	11,652

	13,610	23,597

8. Creditors: Amounts Falling Due Within One Year

	2024	2023 as restated
	£	£
Trade creditors	27,916	13,712
Corporation tax	848	-
Other taxes and social security	4,372	1,830
VAT	22,883	-
Net wages	-	2,558
Other creditors	6,596	1,908
Accruals and deferred income	12,688	-

	75,303	20,008

9. Creditors: Amounts Falling Due After More Than One Year

	2024	2023 as restated
	£	£
Other creditors	30,000	30,000

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Hop Tub Brewing Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 October 2024

10. Share Capital

	2024	2023 as restated
	£	£
Allotted, Called up and fully paid	400	400

11. Related Party Transactions

At the year-end date, the company owed £27,381 (2023: £18,348) to its directors.

The above loans are interest-free and have no fixed date for repayment.

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		2024		2023 as restated
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		102,623		115,967

			102,623		115,967
CURRENT ASSETS
Stocks	6	7,565		-
Debtors	7	13,610		23,597
Cash at bank and in hand		21,814		5,621

		42,989		29,218
Creditors: Amounts Falling Due Within One Year	8	(75,303 )		(20,008 )

NET CURRENT ASSETS (LIABILITIES)			(32,314 )		9,210

TOTAL ASSETS LESS CURRENT LIABILITIES			70,309		125,177

Creditors: Amounts Falling Due After More Than One Year	9		(30,000 )		(30,000 )

NET ASSETS			40,309		95,177

CAPITAL AND RESERVES
Called up share capital	10		400		400
Share premium account			230,600		230,600
Income Statement			(190,691 )		(135,823 )

SHAREHOLDERS' FUNDS			40,309		95,177