REGISTERED NUMBER: 06450631 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

The Loose Cannon Brewing Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr W W Laithwaite

REGISTERED OFFICE:

Unit 6

Suffolk Way

Abingdon

Oxfordshire

OX14 5JX

REGISTERED NUMBER:

06450631 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

TOR

Saint-Cloud Way

Maidenhead

Berkshire

SL6 8BN

FIXED ASSETS

Intangible assets

4

1,911

2,548

Tangible assets

5

266,340

317,113

268,251

319,661

CURRENT ASSETS

Stocks

49,538

57,857

Debtors

6

261,001

213,903

Cash at bank

32,099

3,316

342,638

275,076

CREDITORS

Amounts falling due within one year

7

(1,736,803

)

(1,592,204

)

NET CURRENT LIABILITIES

(1,394,165

)

(1,317,128

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,125,914

)

(997,467

)

CREDITORS

Amounts falling due after more than one year

8

(18,996

)

(40,592

)

NET LIABILITIES

(1,144,910

)

(1,038,059

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(1,144,911

)

(1,038,060

)

SHAREHOLDERS' FUNDS

(1,144,910

)

(1,038,059

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2025 and were signed by:

Mr W W Laithwaite - Director

1.	STATUTORY INFORMATION

The Loose Cannon Brewing Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The accounts are prepared on a going concern basis as in the opinion of the directors the company has sufficient finance available to it to meet its obligations as they fall due for the foreseeable future, that is at least 12 months from the date of approval of the accounts.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The company does not make significant estimates and assumptions concerning the future.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when control of goods or services are transferred to customers and when the amount of revenue can be measured reliably. Revenue is measured at the fair value of consideration received or receivable, excluding VAT and after deducting discounts and refunds.

Included in good and services is Membership Income and Events/Private Bookings Income.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold Property

-

20% on cost

Plant and machinery

-

10% on cost

Fixtures and fittings

-

33% on cost and 25% on cost

Motor vehicles

-

33% on cost

Computer equipment

-

33% on cost

Tangible fixed assets are included at cost less depreciation and impairment.

Stocks

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

Stock is rotated on a first in first out basis.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method, except for investments in non-convertible preference and non-puttable preference and 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 and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies

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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2024

and 31 March 2025

6,370

AMORTISATION

At 1 April 2024

3,822

Charge for year

637

At 31 March 2025

4,459

NET BOOK VALUE

At 31 March 2025

1,911

At 31 March 2024

2,548

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

141,190

551,958

693,148

Additions

-

10,069

10,069

At 31 March 2025

141,190

562,027

703,217

DEPRECIATION

At 1 April 2024

68,862

307,173

376,035

Charge for year

12,118

48,724

60,842

At 31 March 2025

80,980

355,897

436,877

NET BOOK VALUE

At 31 March 2025

60,210

206,130

266,340

At 31 March 2024

72,328

244,785

317,113

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

53,207

62,641

Other debtors

207,794

151,262

261,001

213,903

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

132,161

70,412

Trade creditors

71,453

110,489

Taxation and social security

47,431

50,103

Other creditors

1,485,758

1,361,200

1,736,803

1,592,204

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

18,996

40,592

9.	RELATED PARTY DISCLOSURES

As at the period end £1,457,082 (2024: £1,357,022) was owed by the company to Mr W W Laithwaite.

The Red Lion Peppard Ltd, of which Mr W W Laithwaite is a director, owed £2,189 (2024: £1,832) at the year end. During the year £19,246 (2024: £18,057) of sales were made to The Red Lion Peppard Ltd.

Direct Wines Ltd, of which Mr W W Laithwaite is a director, owed £367 (2024: £7,834) at the year end. During the year £60,722 (2024: £61,578) of sales were made to Direct Wines Ltd.

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr W W Laithwaite.