Redemption Brewing Company Limited 31/12/2024 iXBRL

Company registration number: 06811729

REDEMPTION BREWING COMPANY LIMITED

UNAUDITED FILLETED FINANCIAL STATEMENTS

31 December 2024

REDEMPTION BREWING COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

31 DECEMBER 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Intangible assets	5	-		-
Tangible assets	6	163,530		213,006
Investments	7	1		-
		_______		_______
			163,531		213,006

Current assets
Stocks		79,455		61,011
Debtors	8	61,056		72,801
Cash at bank and in hand		1,639		7,106
		_______		_______
		142,150		140,918
Creditors: amounts falling due
within one year	9	( 584,134)		( 517,373)
		_______		_______
Net current liabilities			( 441,984)		( 376,455)
			_______		_______
Total assets less current liabilities			( 278,453)		( 163,449)

Creditors: amounts falling due
after more than one year	10		( 426,658)		( 468,702)
			_______		_______
Net liabilities			( 705,111)		( 632,151)
			_______		_______

Capital and reserves
Called up share capital			209,742		209,742
Share premium account			386,981		386,981
Profit and loss account			( 1,301,834)		( 1,228,874)
			_______		_______
Shareholders deficit			( 705,111)		( 632,151)
			_______		_______

For the year ending 31 December 2024 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.

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 statement of comprehensive income has not been delivered.

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

Mr A Moffat

Director

Company registration number: 06811729

REDEMPTION BREWING COMPANY LIMITED

STATEMENT OF CHANGES IN EQUITY

YEAR ENDED 31 DECEMBER 2024

	Called up share capital	Share premium account	Profit and loss account	Total
	£	£	£	£


At 1 January 2023	193,171	317,867	( 1,113,417)	( 602,379)

Loss for the year			( 115,457)	( 115,457)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 115,457)	( 115,457)

Issue of shares	16,571	69,114		85,685
	_______	_______	_______	_______
Total investments by and distributions to owners	16,571	69,114	-	85,685

	_______	_______	_______	_______
At 31 December 2023 and 1 January 2024	209,742	386,981	( 1,228,874)	( 632,151)

Loss for the year			( 72,960)	( 72,960)
	_______	_______	_______	_______
Total comprehensive income for the year	-	-	( 72,960)	( 72,960)

	_______	_______	_______	_______
At 31 December 2024	209,742	386,981	( 1,301,834)	( 705,111)
	_______	_______	_______	_______

REDEMPTION BREWING COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. General information

The company is a private company limited by shares, registered in England. The address of the registered office is Redemption Brewing Company Limited, Unit 16 Compass West Industrial Estate, 33 West Road, Tottenham, London, N17 0XL.

2. Statement of compliance

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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:

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, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

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:


Short leasehold property	-	10 %	straight line
Plant and machinery	-	15 %	reducing balance
Fittings fixtures and equipment	-	15 %	reducing balance
Leased plant	-	10 %	straight line

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

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 in finance costs 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 5 (2023: 5 ).

5. Intangible assets

	Other intangible assets	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	1,200	1,200
	_______	_______
Amortisation
At 1 January 2024 and 31 December 2024	1,200	1,200
	_______	_______
Carrying amount
At 31 December 2024	-	-
	_______	_______
At 31 December 2023	-	-
	_______	_______

6. Tangible assets

	Short leasehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Leased plant	Total
	£	£	£	£	£	£
Cost
At 1 January 2024	256,170	373,137	36,011	15,956	33,930	715,204
Additions	-	659	661	-	-	1,320
	_______	_______	_______	_______	_______	_______
At 31 December 2024	256,170	373,796	36,672	15,956	33,930	716,524
	_______	_______	_______	_______	_______	_______
Depreciation
At 1 January 2024	224,017	245,126	23,920	1,596	7,540	502,199
Charge for the year	24,217	19,300	1,912	1,596	3,770	50,795
	_______	_______	_______	_______	_______	_______
At 31 December 2024	248,234	264,426	25,832	3,192	11,310	552,994
	_______	_______	_______	_______	_______	_______
Carrying amount
At 31 December 2024	7,936	109,370	10,840	12,764	22,620	163,530
	_______	_______	_______	_______	_______	_______
At 31 December 2023	32,153	128,011	12,091	14,360	26,390	213,005
	_______	_______	_______	_______	_______	_______

7. Investments

	Shares in group undertakings and participating interests	Total
	£	£
Cost
At 1 January 2024	-	-
Additions	1	1
	_______	_______
At 31 December 2024	1	1
	_______	_______
Impairment
At 1 January 2024 and 31 December 2024	-	-
	_______	_______
Carrying amount
At 31 December 2024	1	1
	_______	_______
At 31 December 2023	-	-
	_______	_______

8. Debtors

	2024	2023
	£	£
Trade debtors	61,056	72,801
	_______	_______

9. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	201,725	207,989
Amounts owed to group undertakings and undertakings in which the company has a participating interest	98,037	-
Social security and other taxes	93,967	105,351
Other creditors	190,405	204,033
	_______	_______
	584,134	517,373
	_______	_______

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

	2024	2023
	£	£
Directors' loans	77,204	133,177
Other creditors	349,454	335,525
	_______	_______
	426,658	468,702
	_______	_______

11. Controlling party

The company is under the joint control of two shareholders, Mr A Moffat and Mrs S Rigby .

12. Going Concern

The ongoing recovery from Covid and inflationary impact of utility costs has created challenges for the industry but loan creditors including the company's directors continue to support the company. The directors having considered the foregoing and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assume the company will continue in operation for the foreseeable future.