Registration number: NI628456

Ireland Craft Beverages Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 10

Ireland Craft Beverages Ltd

Company Information

Directors

Shane McCarthy Liam Brogan

Registered office

59 Chancellors Road Newry Co Down BT35 8PX

Accountants

M/S McKeague Morgan & Co 27 College Gardens Belfast BT9 6BS

Ireland Craft Beverages Ltd

(Registration number: NI628456)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	49,321	50,383
Tangible assets	6	143,554	121,145
		192,875	171,528
Current assets
Stocks	7	786,852	643,953
Debtors	8	265,473	249,530
Cash at bank and in hand		40,675	13,398
		1,093,000	906,881
Creditors: Amounts falling due within one year	9	(1,159,667)	(970,566)
Net current liabilities		(66,667)	(63,685)
Total assets less current liabilities		126,208	107,843
Creditors: Amounts falling due after more than one year	9	(2,440)	(13,272)
Net assets		123,768	94,571
Capital and reserves
Called up share capital		117,500	117,500
Profit and loss account		6,268	(22,929)
Total equity		123,768	94,571

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 December 2025 and signed on its behalf by:
 

.........................................

Liam Brogan
Director

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
59 Chancellors Road
Newry
Co Down
BT35 8PX

These financial statements were authorised for issue by the Board on 17 December 2025.

2	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, unless otherwise stated.

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

The financial statements 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, 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2	Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	Straight line 20 - 25%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. 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.

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

2	Accounting policies (continued)

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 recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	82,586	59,055
Amortisation expense	8,412	6,681

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

5	Intangible assets

	Development costs £	Total £
Cost or valuation
At 1 April 2024	76,767	76,767
Additions acquired separately	7,350	7,350
At 31 March 2025	84,117	84,117
Amortisation
At 1 April 2024	26,384	26,384
Amortisation charge	8,412	8,412
At 31 March 2025	34,796	34,796
Carrying amount
At 31 March 2025	49,321	49,321
At 31 March 2024	50,383	50,383

6	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 April 2024	43,606	213,617	257,223
Additions	3,880	101,115	104,995
At 31 March 2025	47,486	314,732	362,218
Depreciation
At 1 April 2024	28,401	107,677	136,078
Charge for the year	7,575	75,011	82,586
At 31 March 2025	35,976	182,688	218,664
Carrying amount
At 31 March 2025	11,510	132,044	143,554
At 31 March 2024	15,205	105,940	121,145

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Stocks

	2025 £	2024 £
Other inventories	786,852	643,953

8

Debtors

	2025 £	2024 £
Trade debtors	245,354	197,510
Prepayments and accrued income	6,213	4,331
Other debtors	13,906	47,689
	265,473	249,530

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Creditors

	Note	2025 £	2024 £
Due within one year
Bank loans and overdrafts	10	68,353	53,817
Trade creditors		289,745	93,482
Corporation tax liability		15,000	54,736
Amounts owed to parent company	11	750,610	750,610
Taxation and social security		20,816	7,989
Other creditors		7,529	2,932
Loans from directors		44	-
Accruals and deferred income		7,570	7,000
		1,159,667	970,566
Due after one year
Loans and borrowings	10	2,440	13,272

10	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	61,676	10,000
Bank overdrafts	6,677	43,817
	68,353	53,817

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	2,440	13,272

11	Related party transactions

The company is exempt from disclosing related party transactions with Ireland Beverage Group Ltd as it is a wholly owned subsidiary.

Ireland Craft Beverages Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

11	Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

	2025 £	2024 £
Remuneration	116,000	102,000
Contributions paid to money purchase schemes	5,283	5,036
	121,283	107,036