Company No: 02909638 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2026		2025
		£		£
Fixed assets
Tangible assets	4	1,051,750		1,041,965
Investments	5	34,920		31,365
		1,086,670		1,073,330
Current assets
Stocks		166,241		166,870
Debtors	6	455,367		758,889
Cash at bank and in hand		812,134		247,601
		1,433,742		1,173,360
Creditors: amounts falling due within one year	7	( 408,215)		( 484,520)
Net current assets		1,025,527		688,840
Total assets less current liabilities		2,112,197		1,762,170
Creditors: amounts falling due after more than one year	8	( 59,224)		( 33,000)
Provision for liabilities	9	( 107,263)		( 99,949)
Net assets		1,945,710		1,629,221
Capital and reserves
Called-up share capital		100		100
Fair value reserve	10	2,832		0
Profit and loss account		1,942,778		1,629,121
Total shareholder's funds		1,945,710		1,629,221

For the financial year ending 30 April 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Dartmoor Brewery Limited (registered number: 02909638) were approved and authorised for issue by the Board of Directors on 10 September 2026. They were signed on its behalf by:

P B M Cliff Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Dartmoor Brewery Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Lady Park Road, Livermead, Torquay, Devon, TQ2 6UA, United Kingdom. The principal place of business is Dartmoor Brewery, Station Road, Princetown, Devon, PL20 6QX.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

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.

Turnover from the sale of goods is recognised when the goods are dispatched. Revenue from services provided are recognised as they are delivered.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences

4 years straight line

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	50 years straight line
Plant and machinery	10 years straight line
Vehicles	25 % reducing balance
Fixtures and fittings	15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials and direct labour. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in other operating income over the period in which the related costs are recognised, and timing differences are presented as other debtors or deferred income within the balance sheet. Grants relating to assets are recognised 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2026		2025
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	21		19

3. Intangible assets

	Trademarks, patents and licences		Total
	£		£
Cost
At 01 May 2025	17,503		17,503
At 30 April 2026	17,503		17,503
Accumulated amortisation
At 01 May 2025	17,503		17,503
At 30 April 2026	17,503		17,503
Net book value
At 30 April 2026	0		0
At 30 April 2025	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Fixtures and fittings		Total
	£		£		£		£		£
Cost
At 01 May 2025	1,081,007		1,403,815		192,026		518,272		3,195,120
Additions	1,300		23,466		169,848		0		194,614
Disposals	0		0		( 166,474)		0		( 166,474)
At 30 April 2026	1,082,307		1,427,281		195,400		518,272		3,223,260
Accumulated depreciation
At 01 May 2025	357,522		1,201,376		124,393		469,864		2,153,155
Charge for the financial year	21,652		51,880		44,485		7,264		125,281
Disposals	0		0		( 106,926)		0		( 106,926)
At 30 April 2026	379,174		1,253,256		61,952		477,128		2,171,510
Net book value
At 30 April 2026	703,133		174,025		133,448		41,144		1,051,750
At 30 April 2025	723,485		202,439		67,633		48,408		1,041,965

Land and buildings consists of a freehold building owned by the company.

5. Fixed asset investments

	Listed investments		Total
	£		£
Cost or valuation before impairment
At 01 May 2025	31,365		31,365
Movement in fair value	3,555		3,555
At 30 April 2026	34,920		34,920
Carrying value at 30 April 2026	34,920		34,920
Carrying value at 30 April 2025	31,365		31,365

The fair value of listed investments was determined with reference to the quoted market price at the reporting date. The original cost of listed investments held was £32,088.

6. Debtors

	2026		2025
	£		£
Trade debtors	448,252		392,880
Amounts owed by connected companies	0		349,307
Amounts owed by directors	0		10,000
Prepayments	7,115		6,702
	455,367		758,889

Amounts owed by connected companies are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

	2026		2025
	£		£
Trade creditors	134,302		191,047
Amounts owed to Group undertakings	50,000		0
Accruals and deferred income	80,143		108,541
Corporation tax	30,470		35,552
Other taxation and social security	98,323		109,706
Obligations under finance leases and hire purchase contracts (secured)	9,961		35,108
Other creditors	5,016		4,566
	408,215		484,520

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

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

	2026		2025
	£		£
Accruals and deferred income	31,000		33,000
Obligations under finance leases and hire purchase contracts (secured)	28,224		0
	59,224		33,000

The hire purchase contracts are secured on the assets concerned which are included within motor vehicles. The total net book value of the assets held on hire purchase is £40,908 (2025 - £49,178).

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2026		2025
	£		£
Accruals and deferred income (repayable by instalments)	23,000		25,000

Included within accruals and deferred income is £33,000 (2025 - £35,000) representing grants received in respect of fixed assets held in land and buildings. In line with the accounting policy, this grant income is recognised in the profit and loss account by equal instalments over a 50 year period, which matches the period over which the relevant fixed assets are depreciated.

9. Provision for liabilities

	2026		2025
	£		£
Deferred tax	107,263		99,949

10. Changes in equity

	Fair value reserve
	£
At 01 May 2025	0
Transfer of fair value adjustment from profit & loss	2,832
Total comprehensive income	2,832
At 30 April 2026	2,832
At 01 May 2024	0
At 30 April 2025	0

11. Related party transactions

Transactions with owners holding a participating interest in the entity

The company has taken advantage of the exemptions provided from disclosing transactions with its parent company on the grounds that it is a wholly owned subsidiary.

Transactions with the entity's directors

Advances

The Director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates. 

At 1 May 2025, the balance owed by the director was £10,000. During the  year, the company made no advances to the director and received repayments of £10,000, leaving a balance due from the director of £nil.

At 1 May 2024, the balance owed by the director was £10,000. During the year, the company made advances to the director amounting to £10,000 and received no repayments, leaving a balance due from the director of £10,000.

12. Ultimate controlling party

The company's immediate parent is Dartmoor Brewery 2022 Limited, incorporated in England and Wales. Its registered office address is 9 Lady Park Road, Livermead, Torquay, Devon, TA2 6UA.

These financial statements are available upon request from Companies House, Cardiff.