Tutts Clump Cider Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06751941 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

TUTTS CLUMP CIDER LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T G Wale

Miss L C Wale

SECRETARY:

Mrs C Wale

REGISTERED OFFICE:

Travellers Rest Farm

Hungerford Lane

Bradfield

Reading

Berks

RG7 6JH

REGISTERED NUMBER:

06751941 (England and Wales)

ACCOUNTANTS:

C B Heslop And Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Intangible assets

4

7,749

8,800

Tangible assets

5

54,552

56,280

62,301

65,080

CURRENT ASSETS

Stocks

248,825

177,612

Debtors

6

17,034

33,135

Cash at bank and in hand

-

38,674

265,859

249,421

CREDITORS

Amounts falling due within one year

7

35,671

54,787

NET CURRENT ASSETS

230,188

194,634

TOTAL ASSETS LESS CURRENT LIABILITIES

292,489

259,714

CREDITORS

Amounts falling due after more than one year

8

(17,798

)

(24,319

)

PROVISIONS FOR LIABILITIES

10

(11,486

)

(11,486

)

NET ASSETS

263,205

223,909

CAPITAL AND RESERVES

Called up share capital

11

15,296

14,408

Share premium

12

151,701

130,469

Retained earnings

12

96,208

79,032

SHAREHOLDERS' FUNDS

263,205

223,909

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 16 April 2019 and were signed on its behalf by:

T G Wale - Director

1.	STATUTORY INFORMATION

Tutts Clump Cider Ltd 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.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

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 2016, 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.

Improvements to property

-

Straight line over 7 years

Plant and machinery

-

20% on reducing balance

Office equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

11,000

AMORTISATION

At 1 January 2018

2,200

Charge for year

1,051

At 31 December 2018

3,251

NET BOOK VALUE

At 31 December 2018

7,749

At 31 December 2017

8,800

Goodwill is in respect of the acquisition of the cider business in 2016.

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Office

property

machinery

equipment

Totals

£

£

£

£

COST

At 1 January 2018

11,517

73,388

233

85,138

Additions

10,036

-

-

10,036

At 31 December 2018

21,553

73,388

233

95,174

DEPRECIATION

At 1 January 2018

1,645

27,155

58

28,858

Charge for year

3,076

8,629

59

11,764

At 31 December 2018

4,721

35,784

117

40,622

NET BOOK VALUE

At 31 December 2018

16,832

37,604

116

54,552

At 31 December 2017

9,872

46,233

175

56,280

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

14,979

11,473

Other debtors

2,055

21,662

17,034

33,135

At 31 December 2017, other debtors includes an amount of £21,000 paid to the supplier to secure the order for

the company's new bottling and labelling plant. This sum was recovered shortly after when the machine was

installed and leased.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Bank loans and overdrafts

4,110

-

Hire purchase contracts (see note 9)

5,333

5,333

Trade creditors

8,349

3,917

Amounts owed to group undertakings

5,163

31,857

Taxation and social security

6,414

7,440

Other creditors

6,302

6,240

35,671

54,787

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts (see note 9)

14,128

13,965

Other creditors

3,670

10,354

17,798

24,319

Included within creditors is an unsecured loan totalling £7,270 (2017: £13,954) which is being repaid over 5

years.

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.18

31.12.17

£

£

Net obligations repayable:

Within one year

5,333

5,333

Between one and five years

14,128

13,965

19,461

19,298

Non-cancellable operating

leases

31.12.18

31.12.17

£

£

Within one year

47,469

47,469

Between one and five years

127,424

127,424

174,893

174,893

In creating its new production facility, the company has taken on commitments for hire agreements for new plant

and equipment.

10.	PROVISIONS FOR LIABILITIES

31.12.18

31.12.17

£

£

Deferred tax

11,486

11,486

Deferred

tax

£

Balance at 1 January 2018

11,486

Balance at 31 December 2018

11,486

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

15,296

Ordinary

1

15,296

14,408

888 Ordinary shares of 1 each were allotted as fully paid at a premium of £40.67 per share during the year.

12.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2018

79,032

130,469

209,501

Profit for the year

13,737

13,737

Dividends

(1,441

)

(1,441

)

Cash share issue

4,880

31,232

36,112

Fees paid

-

(10,000

)

(10,000

)

At 31 December 2018

96,208

151,701

247,909

13.	RELATED PARTY DISCLOSURES

Labour costs have been recharged from Tim Wale Limited amounting to £22,500 for production labour and

£10,000 in respect of the property improvements carried out.

Included within creditors is an amount of £5,163 (2017: £31,857) due to Tim Wale Limited.

Time Wale Limited is a company controlled by the directors and charges have been made purely to reflect the

recharging of cost.

14.	ULTIMATE CONTROLLING PARTY