For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 Companies Act 2006 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.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

Harviestoun Brewery Limited is a private company limited by shares incorporated in Scotland. The registered office is Alva Industrial Estate, Alva, Clackmannanshire, Scotland, FK12 5DQ.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

FRS 102 Divergence

The directors have concluded that in order to give a fair representation a divergence from FRS 102 is required in regards to the requirement to not depreciate land. The directors consider not depreciating land would not provide a true and fair view of the value of the asset. As such land held by the company has been depreciated contrary to section 17 FRS 102. The accounts comply with FRS 102 in all other respects.

These financial statements are prepared on the going concern basis. At the balance sheet date, the company had net current liabilities of £2,300,530. Included within these liabilities are amounts due to the directors and related undertakings of £2,310,508. The financial statements are prepared on a going concern basis which assumes that the company will continue to meet its liabilities as they fall due. Furthermore, the directors have confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future. As a result, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.true

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

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.

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

Provisions are recognised when the company has a legal or constructive present obligation 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.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The average monthly number of persons (including directors) employed by the company during the year was:

The net book value of fixed assets which are held under hire purchase contracts in the year is £13,379 (2024: £17,839) and is included within motor vehicles.

The bank loans and overdraft are secured by a floating charge and standard security over the assets of the company.

The bank loans and overdraft are secured by a floating charge and standard security over the assets of the company.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

As a wholly owned subsidiary of Harviestoun Brewery (Holdings) Limited, the company is exempt from the requirement of FRS 102 to disclose transactions with other wholly owned members of the group.

At the reporting end date, the company owes the directors £869,716 (2024 - £862,050).

Included within other creditors is a loan of £4,000 (2024 - £4,000) made by a related party. The loan is interest free and repayable on demand.

During the year the company advanced funds to and paid expenses for Harviestoun Houses Limited, a fellow subsidiary of Harviestoun Brewery (Holdings) Limited, totalling £29,622 (2024 - £12,938). This loan has been written off as there is no expectation that it will be repaid.

During the year the company received a loan advance of £130,000 from and repaid £77,293 to Orrmac (No.500) Limited, resulting in a balance due to Orrmac (No.500) Limited at the reporting end date of £586,747(2024 - £534,040). Orrmac (No.500) Limited is a company owned equally by of of the directors, Mr A D M MacDonald and Mr J A M Orr. This loan is interest free and repayable on demand.

The parent undertaking of this company is Harviestoun Brewery (Holdings) Limited, a company registered in Scotland. Its registered office address is located at Hillfoots Business Village, Alva Industrial Estate, Alva, Clackmannanshire, FK12 5DQ.

The ultimate controlling parties are Mr ADM MacDonald and Mr JAM Orr, who each own 50% of the share capital of Harviestoun Brewery (Holdings) Limited.