Pig Iron Brewing Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08891501 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Pig Iron Brewing Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D W Cartwright

SECRETARY:

D W Cartwright

REGISTERED OFFICE:

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

REGISTERED NUMBER:

08891501 (England and Wales)

ACCOUNTANTS:

Pride Accountants

Polymer Court

Hope Street

Dudley

West Midlands

DY2 8RS

FIXED ASSETS

Intangible assets

4

15,120

-

Tangible assets

5

127,859

135,346

142,979

135,346

CURRENT ASSETS

Stocks

46,534

44,000

Debtors

6

31,849

71,267

Cash at bank and in hand

45,817

22,906

124,200

138,173

CREDITORS

Amounts falling due within one year

7

287,710

111,558

NET CURRENT (LIABILITIES)/ASSETS

(163,510

)

26,615

TOTAL ASSETS LESS CURRENT
LIABILITIES

(20,531

)

161,961

CREDITORS

Amounts falling due after more than one
year

8

(100,217

)

(134,892

)

PROVISIONS FOR LIABILITIES

10

-

(5,111

)

NET (LIABILITIES)/ASSETS

(120,748

)

21,958

CAPITAL AND RESERVES

Called up share capital

11

100

Retained earnings

(120,848

)

21,858

SHAREHOLDERS' FUNDS

(120,748

)

21,958

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

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

(b)

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

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

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

The financial statements were approved by the director and authorised for issue on 26 February 2026 and were signed by:

D W Cartwright - Director

1.	STATUTORY INFORMATION

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

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

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

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Taxation

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

Current or deferred taxation assets and liabilities are not discounted.

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

Deferred tax

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

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

16,800

At 28 February 2025

16,800

AMORTISATION

Charge for year

1,680

At 28 February 2025

1,680

NET BOOK VALUE

At 28 February 2025

15,120

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

COST

At 1 March 2024

2,296

220,515

9,334

232,145

Additions

-

38,310

-

38,310

Disposals

-

(9,334

)

(9,334

)

At 28 February 2025

2,296

258,825

-

261,121

DEPRECIATION

At 1 March 2024

-

91,402

5,397

96,799

Charge for year

-

41,860

-

41,860

Eliminated on disposal

-

(5,397

)

(5,397

)

At 28 February 2025

-

133,262

-

133,262

NET BOOK VALUE

At 28 February 2025

2,296

125,563

-

127,859

At 29 February 2024

2,296

129,113

3,937

135,346

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Trade debtors

31,849

71,267

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

Bank loans and overdrafts

76,480

41,300

Trade creditors

99,660

-

Taxation and social security

86,342

62,601

Other creditors

25,228

7,657

287,710

111,558

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

29.2.24

£

Bank loans

100,217

134,892

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

41,350

47,360

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

28.2.25

29.2.24

£

Within one year

84,251

56,500

Between one and five years

362,336

117,830

In more than five years

272,081

-

718,668

174,330

10.	PROVISIONS FOR LIABILITIES

28.2.25

29.2.24

£

Deferred tax

-

5,111

Deferred

tax

£

Balance at 1 March 2024

5,111

Provided during year

(5,111

)

Balance at 28 February 2025

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

100

Ordinary

£1

100

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D W Cartwright.

13.	GOING CONCERN

The financial statements have been prepared on a going concern basis. The directors have reviewed the company’s financial position and cash flow forecasts and are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.