Manchester Beers Limited Filleted accounts for Companies House (small and micro)

MANCHESTER BEERS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10286443

Manchester Beers Limited

Filleted Unaudited Financial Statements

31 December 2018

Manchester Beers Limited

Statement of Financial Position

31 December 2018

	2018	2017
Note	£	£

Fixed assets

Investments	5	2	2

Current assets

Debtors	6	358,242	382,550
Cash at bank and in hand		19,872	9,584
		---------	---------
		378,114	392,134

Creditors: amounts falling due within one year	7	371,453	371,021
		---------	---------
Net current assets		6,661	21,113
		-------	--------
Total assets less current liabilities		6,663	21,115
		-------	--------
Net assets		6,663	21,115
		-------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	6,662	21,114
	-------	--------
Shareholders funds	6,663	21,115
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Manchester Beers Limited

Statement of Financial Position (continued)

31 December 2018

These financial statements were approved by the board of directors and authorised for issue on 26 September 2019 , and are signed on behalf of the board by:

Mr D Clancy
Director

Company registration number: 10286443

Manchester Beers Limited

Notes to the Financial Statements

Year ended 31 December 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Morley Cheeks, 575 Barlow Moor Road, Manchester, M21 8AE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 15 (2017: Nil).

5. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2018 and 31 December 2018	2
	----
Impairment
At 1 January 2018 and 31 December 2018	–
	----

Carrying amount
At 31 December 2018	2
	----
At 31 December 2017	2
	----

Subsidiaries, associates and other investments

	Class of share	Percentage of shares held
Subsidiary undertakings
Stockyard Hale Ltd	Ordinary	100
Stockyard Stockton Heath Ltd	Ordinary	100

The results and capital and reserves for the year are as follows:

	Capital and reserves		Profit/(loss) for the year
	2018	2017	2018	2017
	£	£	£	£
Subsidiary undertakings
Stockyard Hale Ltd	–	(7,166)	–	(26,479)
Stockyard Stockton Heath Ltd	–	(5,329)	–	(5,330)
	----	-------	----	--------

There are no figures included within the table above for 2018 as the accounts have not been prepared.

6. Debtors

	2018	2017
	£	£
Trade debtors	–	2,114
Amounts owed by group undertakings and undertakings in which the company has a participating interest	342,534	380,436
Other debtors	15,708	–
	---------	---------
	358,242	382,550
	---------	---------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Bank loans and overdrafts	166,039	223,156
Trade creditors	4,443	–
Social security and other taxes	5,924	1,049
Other creditors	195,047	146,816
	---------	---------
	371,453	371,021
	---------	---------

8. Director's advances, credits and guarantees

Included within other creditors above is an amount of £175,137 (2017: £145,014) owed to the directors. No interest has been charged on the amount which is repayable on demand.

9. Related party transactions

Included in Debtors is amounts owed from group undertakings of £342,534. This relates to amounts owed from Stockyard Hale Ltd, £197,359 and Stockyard Stockton Heath Ltd, £145,175. Both companies appointed liquidators on 7 February 2019 and 17 January 2019 respectively. Included within other debtors is an amount of £7,307 owed by Morley Cheeks Limited a company owned by the director. This company also appointed a liquidator 17 January 2019.