Company Registration No. 02633943 (England and Wales)
HOPS AND BARLEY LIMITED
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2025
HOPS AND BARLEY LIMITED
COMPANY INFORMATION
Directors
J K Ravenscroft
C Doran
Secretary
Mrs C A Doran
Company number
02633943
Registered office
Larch Lea Industrial Estate
Castor Street
Liverpool
L6 5AT
Auditor
Royce Peeling Green Limited
The Copper Room
Deva City Office Park
Trinity Way
Manchester
M3 7BG
HOPS AND BARLEY LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2 - 3
Independent auditor's report
4 - 6
Group statement of comprehensive income
7
Group and company balance sheets
8
Group statement of changes in equity
11
Company statement of changes in equity
12
Group statement of cash flows
13
Notes to the financial statements
14 - 29
HOPS AND BARLEY LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 JULY 2025
- 1 -

The directors present the strategic report for the year ended 30 July 2025.

Fair review of the business

The results for the year and financial position of the group are as shown in the financial statements.

Trading

Turnover in the period was £18.2m (£18.6m last year) and the company maintained its margins at a reasonable level.

T he company continues to invest in its IT and marketing resources and we have continued to trade profitably and generate cash.

Cash

During the year construction was completed of a new 10,000 sq ft warehouse with cash and carry shop attached close to our existing Holywell depot to improve our access to the Welsh market. In July 2025 the existing Holywell depot was closed and trading in the Welsh market was facilitated from the new warehouse

It is the intention of the directors to continue to support the group financially, and the profits and cash flows generated are considered sufficient to ensure the group has adequate resources. Therefore, the directors have adopted a going concern basis in preparing the accounts.

Principal risks and uncertainties

The group manages the inherent uncertainty due to the general economic climate by continually reviewing its operations and implementing efficiencies in every area of its business.

The group does not use financial instruments as part of its financial risk management. It is exposed to the usual credit and cash flow risk associated with selling on credit and manages this through credit control procedures.

Key performance indicators

The Group’s principal KPIs are turnover, gross profit, and cash flow, which together provide a balanced assessment of financial performance and sustainability. Turnover measures the level of revenue generated from trading activities and indicates the Group’s ability to grow and maintain market demand. Gross profit reflects operational efficiency and pricing discipline by measuring revenue after direct costs, while cash flow demonstrates the Group’s liquidity, financial resilience, and capacity to meet obligations and invest in future growth. These KPIs are reviewed regularly by the Board to monitor performance against strategic objectives.

Employees

The group has continued to follow the requirements of Health & Safety at Work Act with concern of the welfare of its employees. The group gives full consideration to applications for employment from disabled persons where the requirements of the job can be adequately fulfilled by a handicapped or disabled person. The group provides employees with information about the group through internal media methods and newsletters.

On behalf of the board

J K Ravenscroft
22 April 2026
Director
HOPS AND BARLEY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JULY 2025
- 2 -

The directors present their annual report and consolidated financial statements for the year ended 30 July 2025.

Principal activities

The principal activity of the company and group continued to be that of wholesalers, distributors and retailers of

beers, spirits and soft drinks and the running of social clubs.

Results and dividends

The results for the year are set out on page 5. Ordinary dividends were paid amounting to £250,915.

The directors do not recommend payment of a further dividend.

Directors

J K Ravenscroft and C A Doran held office as directors during the year and up to the date of signature of financial statements.

Auditor

The auditor, Royce Peeling Green Limited, is deemed to be reappointed under s487(2) Companies Act 2006.

Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

United Kingdom company law requires the directors to prepare financial statements for each financial year. Under that law, the directors have elected to prepare the group and parent company financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and parent company, and of the profit or loss of the group for that period.

In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;

- make judgements and accounting estimates that are reasonable and prudent;

- state whether applicable U nited K ingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and parent company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and parent company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and parent company, and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and parent company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

HOPS AND BARLEY LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 3 -
Medium-sized companies exemption

This report has been prepared in accordance with the provisions applicable to groups and companies entitled to the exemptions of the small companies regime.

On behalf of the board
22 April 2026
J K Ravenscroft
Director
HOPS AND BARLEY LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF HOPS AND BARLEY LIMITED
- 4 -
Opinion

We have audited the financial statements of Hops and Barley Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 July 2025 which comprise the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice)("UKGAAP").

In our opinion the financial statements:

- give a true and fair view of the state of the group's and the parent company's affairs as at 30 July 2025 and of the group's profit for the year then ended;

- have been properly prepared in accordance with UK GAAP; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- T he information given in the strategic report and the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- The strategic report and the directors' report have been prepared in accordance with applicable legal requirements.

HOPS AND BARLEY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HOPS AND BARLEY LIMITED
- 5 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identifie d material misstatements in the strategic report or the directors' r eport.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

- the parent company financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

- At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the company and how management seek to comply with them. This helps us to make appropriate risk assessments.

- During the audit we focus on relevant risk areas and review compliance with laws and regulations through making relevant enquiries and corroboration by, for example, reviewing Board Minutes and other documentation.

- We assess the risk of material misstatement in the financial statements including as a result of fraud and undertake procedures including:

  1. Review of controls set in place by management

  2. Enquiry of management as to whether they consider fraud or other irregularities may have occurred or where such opportunity might exist

  3. Challenge of management assumptions with regard to accounting estimates

  4. Identification and testing of journal entries, particularly those which may appear to be unusual by size or nature.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements, or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we are less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is located on the FRC's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

HOPS AND BARLEY LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF HOPS AND BARLEY LIMITED
- 6 -

Use of our report

This report is made solely to the parent company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the parent company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the parent company and the parent company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Chatten (Senior Statutory Auditor)
For and on behalf of Royce Peeling Green Limited, Statutory Auditor
Chartered Accountants
The Copper Room
Deva City Office Park
Trinity Way
Manchester
M3 7BG
23 April 2026
HOPS AND BARLEY LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JULY 2025
- 7 -
2025
2024
Notes
£
£
Turnover
3
18,170,530
18,590,841
Cost of sales
(14,546,701)
(15,168,551)
Gross profit
3,623,829
3,422,290
Administrative expenses
(3,359,180)
(3,152,085)
Other operating income
6,391
27,312
Exceptional item
6
-
64,570
Operating profit
4
271,040
362,087
Interest receivable and similar income
3,972
8,852
Interest payable and similar expenses
(21,115)
(16,076)
Profit before taxation
253,897
354,863
Tax on profit
10
(63,626)
(115,424)
Profit for the financial year
190,271
239,439
Other comprehensive income
Revaluation of tangible fixed assets
-
0
357,472
Adjustments to the fair value of financial assets
-
0
57,103
Total comprehensive income for the year
190,271
654,014
Profit for the financial year is all attributable to the owners of the parent company.
Total comprehensive income for the year is all attributable to the owners of the parent company.
HOPS AND BARLEY LIMITED
GROUP AND COMPANY BALANCE SHEETS
AS AT
30 JULY 2025
30 July 2025
- 8 -
Company Registration No. 02633943
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
1,663,338
1,183,518
1,171,338
683,518
Investment properties
15
312,625
312,625
312,625
312,625
Investments
12
-
0
-
0
200
200
1,975,963
1,496,143
1,484,163
996,343
Current assets
Stocks
16
1,032,771
1,211,407
1,032,771
1,211,407
Debtors
17
1,783,818
1,794,184
1,795,154
1,805,520
Cash at bank and in hand
495,544
560,193
495,544
560,193
3,312,133
3,565,784
3,323,469
3,577,120
Creditors: amounts falling due within one year
18
(2,922,977)
(2,967,063)
(2,923,077)
(2,967,163)
Net current assets
389,156
598,721
400,392
609,957
Total assets less current liabilities
2,365,119
2,094,864
1,884,555
1,606,300
Creditors: amounts falling due after more than one year
19
(489,744)
(155,438)
(489,744)
(155,438)
Provisions for liabilities
Deferred tax liability
22
(119,538)
(122,945)
(119,538)
(122,945)
Net assets
1,755,837
1,816,481
1,275,273
1,327,917
Capital and reserves
Called up share capital
23
7,666
7,666
7,666
7,666
Revaluation reserve
496,759
502,075
144,603
144,603
Capital redemption reserve
2,334
2,334
2,334
2,334
Profit and loss reserves
1,249,078
1,304,406
1,120,670
1,173,314
Total equity
1,755,837
1,816,481
1,275,273
1,327,917

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £198,271 (2024 - £242,124 profit).

The financial statements were approved by the board of directors and authorised for issue on 22 April 2026 and are signed on its behalf by:
22 April 2026
J K Ravenscroft
Director
HOPS AND BARLEY LIMITED
COMPANY BALANCE SHEET
AS AT 30 JULY 2025
30 July 2025
- 9 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
13
1,171,338
683,518
Investment property
15
312,625
312,625
Investments
12
200
200
1,484,163
996,343
Current assets
Stocks
16
1,032,771
1,211,407
Debtors
17
1,795,154
1,805,520
Cash at bank and in hand
495,544
560,193
3,323,469
3,577,120
Creditors: amounts falling due within one year
18
(2,923,077)
(2,967,163)
Net current assets
400,392
609,957
Total assets less current liabilities
1,884,555
1,606,300
Creditors: amounts falling due after more than one year
19
(489,744)
(155,438)
Provisions for liabilities
Deferred tax liability
22
119,538
122,945
(119,538)
(122,945)
Net assets
1,275,273
1,327,917
Capital and reserves
Called up share capital
23
7,666
7,666
Revaluation reserve
144,603
144,603
Capital redemption reserve
2,334
2,334
Profit and loss reserves
1,120,670
1,173,314
Total equity
1,275,273
1,327,917
HOPS AND BARLEY LIMITED
COMPANY BALANCE SHEET (CONTINUED)
AS AT 30 JULY 2025
30 July 2025
- 10 -

As permitted by s408 Companies Act 2006, the c ompany has not presented its own profit and loss account and related notes. The c ompany’s profit for the year was £198,271 (2024 - £242,124 profit).

These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.

The financial statements were approved by the board of directors and authorised for issue on 22 April 2026 and are signed on its behalf by:
22 April 2026
J K Ravenscroft
Director
Company registration number 02633943 (England and Wales)
HOPS AND BARLEY LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JULY 2025
- 11 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 31 July 2023
7,666
87,500
2,334
1,345,074
1,442,574
Year ended 30 July 2024:
Profit for the year
29
-
-
-
239,439
239,439
Other comprehensive income:
Revaluation of tangible fixed assets
-
357,472
-
-
357,472
Adjustments to fair value of financial assets
-
57,103
-
-
57,103
Total comprehensive income for the year
-
414,575
-
239,439
654,014
Dividends
11
-
-
-
(280,107)
(280,107)
Balance at 30 July 2024
7,666
502,075
2,334
1,304,406
1,816,481
Year ended 30 July 2025:
Profit and total comprehensive income for the year
-
-
-
190,271
190,271
Dividends
11
-
-
-
(250,915)
(250,915)
Transfers
-
(5,316)
-
5,316
-
Balance at 30 July 2025
7,666
496,759
2,334
1,249,078
1,755,837
HOPS AND BARLEY LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JULY 2025
- 12 -
Share capital
Revaluation reserve
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 31 July 2023
7,666
87,500
2,334
1,211,298
1,308,798
Year ended 30 July 2024:
Profit for the year
29
-
-
-
242,123
242,123
Other comprehensive income:
Adjustments to fair value of financial assets
-
57,103
-
-
57,103
Total comprehensive income for the year
-
57,103
-
242,123
299,226
Dividends
11
-
-
-
(280,107)
(280,107)
Balance at 30 July 2024
7,666
144,603
2,334
1,173,314
1,327,917
Year ended 30 July 2025:
Profit and total comprehensive income for the year
-
-
-
198,271
198,271
Dividends
11
-
-
-
(250,915)
(250,915)
Balance at 30 July 2025
7,666
144,603
2,334
1,120,670
1,275,273
HOPS AND BARLEY LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JULY 2025
- 13 -
2025
2024
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
28
1,009,980
333,087
Interest paid
(21,115)
(16,076)
Income taxes (paid)/refunded
(159,064)
1,447
Net cash inflow from operating activities
829,801
318,458
Investing activities
Purchase of tangible fixed assets
(614,149)
(68,855)
Proceeds from disposal of investment property
-
135,000
(Loans made)/ recovered
148,555
(103,186)
Interest received
3,972
8,852
Net cash used in investing activities
(461,622)
(28,189)
Financing activities
Repayment of bank loans
305,826
(94,060)
Payment of finance leases obligations
13,658
(32,082)
Dividends paid to equity shareholders
(250,915)
(280,107)
Net cash generated from/(used in) financing activities
68,569
(406,249)
Net increase/(decrease) in cash and cash equivalents
436,748
(115,980)
Cash and cash equivalents at beginning of year
58,796
174,776
Cash and cash equivalents at end of year
495,544
58,796
Relating to:
Cash at bank and in hand
495,544
560,193
Bank overdrafts included in creditors payable within one year
-
(501,397)
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2025
- 14 -
1
Accounting policies
Company information

Hops and Barley Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is .

The group consists of Hops and Barley Limited and all of its subsidiaries.

1.1
Basis of preparation

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.

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

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

1.2
Business combinations

In the parent company financial statements, t he cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. I nvestments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

1.3
Basis of consolidation

The consolidated group financial statements consist of the financial statements of the parent company Hops and Barley Limited together with all entities controlled by the parent company (its subsidiaries).

All financial statements are made up to 30 July 2025. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the g roup.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

Subsidiaries are consolidated in the group’s financial statements from the date that control commences until the date that control ceases.

1.4
Going concern

A t the time of approving the financial statements, t he directors have a reasonable expectation that the group and parent company ha ve adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.5
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

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

HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
1
Accounting policies
(Continued)
- 15 -
1.6
Tangible fixed assets

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:

Freehold land and buildings
2% straight line
Leasehold improvements
10% straight line
Plant and equipment
10% straight line
Fixtures and fittings
10% to 33% straight line
Motor vehicles
25% straight line

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 recognised in the profit and loss account.

1.7
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as at cost.

1.8
Fixed asset investments

Equity in vest ments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

I n the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.9
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

The carrying amount of the investments accounted for using the equity method is tested for impairment as a single asset. Any goodwill included in the carrying amount of the investment is not tested separately for impairment.

HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
1
Accounting policies
(Continued)
- 16 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.10
Stocks

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.

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.

1.11
Cash and cash equivalents

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.

1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest m ethod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
1
Accounting policies
(Continued)
- 17 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

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

HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
1
Accounting policies
(Continued)
- 18 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

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.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
1
Accounting policies
(Continued)
- 19 -

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 lease d asset are consumed.

1.18
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.19
Foreign exchange

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.

1.20

Auditors liability limitation agreement

The company has entered into a liability limitation agreement with Royce Peeling Green Limited, the statutory auditor for the year ended 30th July 202 5. The proportionate liability agreement follows the standard terms in Appendix B to the FRC's June 2008 Guidance on Auditor Liability Agreements, and has been approved by the shareholders.

2
Judgements and key sources of estimation uncertainty

In the application of the group’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 periods.

3
Turnover and other revenue

All turnover relates to the principal activities of the wholesale, distribut ion and retail of beers, spirits and soft drinks and the running of social clubs and has been undertaken wholly within the UK.

2025
2024
£
£
Other significant revenue
Grants received
27,312
12,666
Exceptional income - see note xx.
-
64,570
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 20 -
4
Operating profit
2025
2024
£
£
Operating profit for the year is stated after charging:
Depreciation of owned tangible fixed assets
87,566
83,279
Depreciation of tangible fixed assets held under finance leases
46,763
26,187
Operating lease charges
286,914
263,623
5
Employees

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

Group
Company
2025
2024
2025
2024
Number
Number
Number
Number
Administration
26
25
22
25
Sales and operations
54
55
54
55
Total
80
80
76
80

Their aggregate remuneration comprised:

Group
Company
2025
2024
2025
2024
£
£
£
£
Wages and salaries
1,738,062
1,632,547
1,738,062
1,632,547
Social security costs
160,707
134,413
160,707
134,413
Pension costs
27,668
28,760
27,668
28,760
1,926,437
1,795,720
1,926,437
1,795,720
6
Exceptional items

Exceptional income is receipts relating to the historic fraud which is subject to ongoing legal action by the company.

7
Directors' remuneration
2025
2024
£
£
Remuneration for qualifying services
9,096
11,226
Company pension contributions to defined contribution schemes
273
140
9,369
11,366
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
7
Directors' remuneration
(Continued)
- 21 -

The number of directors for whom retirement benefits are accruing under defined contribution schemes amounted to 1 (2024 - 1).

8
Retirement benefit schemes
2025
2024
£
£
Charge to profit or loss in respect of defined contribution schemes
27,668
28,760

A defined contribution pension scheme is operated for all qualifying employees. The assets of the schemes are held separately from those of the group in independently administered funds.

9
Other gains and losses

Other gains and losses comprise a increase in the fair value of investment properties of £Nil (2024: £57,103).

10
Taxation
2025
2024
£
£
Current tax
UK corporation tax on profits for the current period
67,033
102,262
Deferred tax
Origination and reversal of timing differences
7,723
900
Adjustment in respect of prior periods
(11,130)
12,262
Total deferred tax
(3,407)
13,162
Total tax charge
63,626
115,424

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2025
2024
£
£
Profit before taxation
253,897
354,863
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2024: 25.00%)
63,474
88,716
Tax effect of expenses that are not deductible in determining taxable profit
6,840
13,358
Depreciation on assets not qualifying for tax allowances
4,442
1,088
Deferred tax adjustments in respect of prior years
(11,130)
12,262
Taxation charge
63,626
115,424
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 22 -
11
Dividends
2025
2024
Recognised as distributions to equity holders:
£
£
Interim paid
250,915
280,107
12
Fixed asset investments
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
200
200
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 31 July 2024 and 30 July 2025
200
Carrying amount
At 30 July 2025
200
At 30 July 2024
200
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 23 -
13
Tangible fixed assets
Group
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 31 July 2024
733,582
4,387
220,791
281,902
768,509
2,009,171
Additions
511,198
-
0
2,895
35,409
64,647
614,149
Disposals
-
0
-
0
-
0
(7,316)
-
0
(7,316)
At 30 July 2025
1,244,780
4,387
223,686
309,995
833,156
2,616,004
Depreciation and impairment
At 31 July 2024
27,748
2,634
44,227
205,564
545,480
825,653
Depreciation charged in the year
12,107
439
22,272
17,171
82,340
134,329
Eliminated in respect of disposals
-
0
-
0
-
0
(7,316)
-
0
(7,316)
At 30 July 2025
39,855
3,073
66,499
215,419
627,820
952,666
Carrying amount
At 30 July 2025
1,204,925
1,314
157,187
94,576
205,336
1,663,338
At 30 July 2024
705,834
1,753
176,564
76,338
223,029
1,183,518
Company
Freehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost or valuation
At 31 July 2024
233,582
4,387
220,791
281,902
768,509
1,509,171
Additions
511,198
-
0
2,895
35,409
64,647
614,149
Disposals
-
0
-
0
-
0
(7,316)
-
0
(7,316)
At 30 July 2025
744,780
4,387
223,686
309,995
833,156
2,116,004
Depreciation and impairment
At 31 July 2024
27,748
2,634
44,227
205,564
545,480
825,653
Depreciation charged in the year
4,107
439
22,272
17,171
82,340
126,329
Eliminated in respect of disposals
-
0
-
0
-
0
(7,316)
-
0
(7,316)
At 30 July 2025
31,855
3,073
66,499
215,419
627,820
944,666
Carrying amount
At 30 July 2025
712,925
1,314
157,187
94,576
205,336
1,171,338
At 30 July 2024
205,834
1,753
176,564
76,338
223,029
683,518
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
13
Tangible fixed assets
(Continued)
- 24 -

Included within tangible fixed assets are assets held under finance leases or hire purchase contracts, as follows:

Group
Company
2025
2024
2025
2024
£
£
£
£
Plant and equipment
39,054
44,204
39,054
44,204
Motor vehicles
137,692
114,658
137,692
114,658
176,746
158,862
176,746
158,862

Certain l and and buildings were revalued in 2024 by MO Valuations Limited, independent valuers not connected with the company on the basis of market value at a carrying amount of £500,000 . The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

If revalued land and buildings were measured using the cost model, the carrying amounts would have been approximately £142,528 (2023 - £145,210), being cost £184,211 (2023 - £184,211) and depreciation £41,684 (2023 - £39,000).

14
Subsidiaries

Details of the company's subsidiaries at 30 July 2025 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Whiston Social Ltd
L6 5AT
Ordinary
100.00
W Hall & Son (Holywell) Ltd
L6 5AT
Ordinary
100.00
15
Investment property
Group
Company
2025
2025
£
£
Fair value
At 31 July 2024 and 30 July 2025
312,625
312,625

The directors consider that the current value of investment properties is a fair reflection of the ir estimated open market value having taken independent professional advice.

16
Stocks
Group
Company
2025
2024
2025
2024
£
£
£
£
Finished goods and goods for resale
1,032,771
1,211,407
1,032,771
1,211,407
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 25 -
17
Debtors
Group
Company
2025
2024
2025
2024
Amounts falling due within one year:
£
£
£
£
Trade debtors
909,654
1,139,327
909,654
1,139,327
Amounts owed by group undertakings
-
0
-
0
11,336
11,336
Other debtors
352,479
494,288
352,479
494,288
Prepayments and accrued income
521,685
160,569
521,685
160,569
1,783,818
1,794,184
1,795,154
1,805,520
18
Creditors: amounts falling due within one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
20
64,528
592,521
64,528
592,521
Obligations under finance leases
21
60,197
48,423
60,197
48,423
Trade creditors
2,138,728
1,640,072
2,138,728
1,640,072
Amounts owed to group undertakings
-
0
-
0
100
100
Corporation tax payable
67,033
159,064
67,033
159,064
Other taxation and social security
56,049
186,986
56,049
186,986
Other creditors
167,142
8,731
167,142
8,731
Accruals and deferred income
369,300
331,266
369,300
331,266
2,922,977
2,967,063
2,923,077
2,967,163
19
Creditors: amounts falling due after more than one year
Group
Company
2025
2024
2025
2024
Notes
£
£
£
£
Bank loans and overdrafts
20
392,218
59,796
392,218
59,796
Obligations under finance leases
21
97,526
95,642
97,526
95,642
489,744
155,438
489,744
155,438
Amounts included above which fall due after five years are as follows:
Payable by instalments
245,087
-
245,087
-
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 26 -
20
Loans and overdrafts
Group
Company
2025
2024
2025
2024
£
£
£
£
Bank loans
456,746
150,920
456,746
150,920
Bank overdrafts
-
0
501,397
-
0
501,397
456,746
652,317
456,746
652,317
Payable within one year
64,528
592,521
64,528
592,521
Payable after one year
392,218
59,796
392,218
59,796

The following secured debts were outstanding as at the balance sheet date:

Hops and Barley Limited

The Royal Bank of Scotland PLC ("RBS") hold s a debenture dated 20 May 2002 on all assets of the Company. It also hold s an all monies first legal charge dated 27 November 2009 on The Prince Alfred Public House, 77 High Street, Wavertree, Liverpool, L15 8HB. RBS also hold s an inter-company guarantee dated 24 May 2012 on the following companies: Hops and Barley Limited, Whiston Social Limited and W. Hall & Son (Holywell) Limited. In addition to the above RBS also olds an all monies first legal charge dated 11 February 2025 on Plot 1, Mathonwy, Tir Llwyd Enterprise Park, Kinmel Bay, Rhyl, LL18 5JH.

Whiston Social Limited

RBS hold s an all monies legal charge dated 4 July 2010 on Whiston Social Club, Windy Arbor Road, Prescot, L35 3RZ and a debenture dated 23 April 2012 on all assets of the Company. Molson Coors Brewing Company (UK) Limited hold an all monies legal charge dated 6 August 2010 on Pemberton Central Ward Labour Club, Enfield Street, Wigan, WN5 8DJ. The Trustees of the Ravenscroft Family SSAS hold a debenture over the company's freehold assets dated December 2019.

W. Hall & Son (Holywell) Limited

RBS also hold s a debenture dated 23 April 2012 on all assets of th is c ompany.

21
Finance lease obligations
Group
Company
2025
2024
2025
2024
Amounts due:
£
£
£
£
Current liabilities
60,197
48,423
60,197
48,423
Non-current liabilities
97,526
95,642
97,526
95,642
157,723
144,065
157,723
144,065
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
21
Finance lease obligations
(Continued)
- 27 -
Group
Company
2025
2024
2025
2024
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
69,730
56,298
69,730
56,298
In two to five years
111,777
111,012
111,777
111,012
181,507
167,310
181,507
167,310
Less: future finance charges
(23,784)
(23,245)
(23,784)
(23,245)
157,723
144,065
157,723
144,065

Finance lease payments represent rentals payable by the company or group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is four years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
2025
2024
Group & company
£
£
Accelerated capital allowances
106,445
118,144
Revaluations
6,984
6,984
Retirement benefit obligations
6,109
(2,183)
119,538
122,945
2025
Movements in the year:
£
Liability at 31 July 2024
122,945
Credit to profit or loss
(3,407)
Liability at 30 July 2025
119,538
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
- 28 -
23
Share capital
Group and company
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A ordinary share of £1 each
4,155
4,155
4,155
4,155
B ordinary share of £1 each
702
702
702
702
C ordinary share of £1 each
702
702
702
702
D ordinary share of £1 each
702
702
702
702
E ordinary share of £1 each
1
1
1
1
F ordinary share of £1 each
701
701
701
701
G ordinary share of £1 each
702
702
702
702
H ordinary share of £1 each
1
1
1
1
7,666
7,666
7,666
7,666

All shares have identical rights.

24
Events after the reporting date

In accordance with Section 32 of FRS 102, the directors have considered events occurring after the end of the reporting period.

After the reporting date, the Company received damages following the settlement of a court case relating to a historical fraud. At the reporting date, the legal proceedings were ongoing and the outcome was not virtually certain.

This event is considered a non‑adjusting event after the end of the reporting period, as the settlement was finalised after the reporting date and did not provide evidence of conditions that existed at that date. Accordingly, no adjustment has been made to the amounts recognised in these financial statements.

The settlement proceeds will be recognised in the financial statements for the accounting period in which the settlement was finalised and the damages were received.

25
Related party transactions
Transactions with related parties

At 30 July 2025 the company was owed an amount of £328,039 (2024: £334,444) by Merseyside Equestrian Centre Limited, a company of which Mr J K Ravenscroft and Ms C A Doran are directors. The amount is unsecured, repayable on demand and interest free.

The company leases premises from the Ravenscroft Family SSAS. Rental charges in the year were £105,000 (2024: £105,000). At 30 July 2025 the company owed the SSAS £349,096 (2024: £230,496).

26
Directors' transactions

Dividends totalling £250,915 (2024 - £280,107) were paid in the year in respect of shares held by the company's directors and their immediate family.

At 30 July 202 5 the directors and connected parties owed the company an amount of £123,605 (202 4: £148,557). The amount is unsecured, repayable on demand and interest free.

27
Controlling party
HOPS AND BARLEY LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JULY 2025
27
Controlling party
(Continued)
- 29 -

The ultimate controlling party of the company is considered to be Mr J K Ravenscroft by virtue of his majority share holding.

28
Cash generated from group operations
2025
2024
£
£
Profit after taxation
190,271
239,439
Adjustments for:
Taxation charged
63,626
115,424
Finance costs
21,115
16,076
Investment income
(3,972)
(8,852)
Depreciation and impairment of tangible fixed assets
134,329
109,465
Movements in working capital:
Decrease in stocks
178,636
284,466
Increase in debtors
(138,189)
(170,093)
Increase/(decrease) in creditors
564,164
(252,838)
Cash generated from operations
1,009,980
333,087
29
Analysis of changes in net debt - group
31 July 2024
Cash flows
30 July 2025
£
£
£
Cash at bank and in hand
560,193
(64,649)
495,544
Bank overdrafts
(501,397)
501,397
-
0
58,796
436,748
495,544
Borrowings excluding overdrafts
(150,920)
(305,826)
(456,746)
Obligations under finance leases
(144,065)
(13,658)
(157,723)
(236,189)
117,264
(118,925)
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