The Spirit Beer Company Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10430814 (England and Wales)

Unaudited Financial Statements

for the Period 1 November 2017 to 31 March 2019

for

The Spirit Beer Company Limited

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

C Butler

C J Spencer

P C Lee

N A Entwistle

REGISTERED OFFICE:

8 Holyrood View

Sheffield

South Yorkshire

S10 4NG

REGISTERED NUMBER:

10430814 (England and Wales)

ACCOUNTANTS:

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required

to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of The Spirit Beer Company Limited for the period ended 31 March 2019 which

comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in

Equity and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Spirit Beer Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Spirit Beer Company Limited and state those matters that we have agreed to state to the Board of Directors of The Spirit Beer Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Spirit Beer Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Spirit Beer Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Spirit Beer Company Limited. You consider that The Spirit Beer Company Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of The Spirit Beer Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Landin Wilcock & Co

Chartered Accountants

68 Queen Street

Sheffield

South Yorkshire

S1 1WR

31 December 2019

FIXED ASSETS

Tangible assets

4

578

-

Investments

5

380,975

100

381,553

100

CURRENT ASSETS

Debtors

6

854,104

-

Cash at bank and in hand

101,570

5

955,674

5

CREDITORS

Amounts falling due within one year

7

(58,983

)

-

NET CURRENT ASSETS

896,691

5

TOTAL ASSETS LESS CURRENT LIABILITIES

1,278,244

105

CAPITAL AND RESERVES

Called up share capital

132

105

Share premium

1,229,979

-

Retained earnings

48,133

-

1,278,244

105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2019 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 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 Board of Directors on 31 December 2019 and were signed on its behalf by:

C J Spencer - Director

1.	STATUTORY INFORMATION

The Spirit Beer 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.

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.

The accounts for the period ended 31 October 2017 were prepared in accordance with Financial

Reporting Standard 105 "The Financial Reporting Standard applicable in the UK for Micro Entities".

There were no transition adjustments to make in changing to FRS102.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2017 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

650

At 31 March 2019

650

DEPRECIATION

Charge for period

72

At 31 March 2019

72

NET BOOK VALUE

At 31 March 2019

578

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2017

100

Additions

380,875

At 31 March 2019

380,975

NET BOOK VALUE

At 31 March 2019

380,975

At 31 October 2017

100

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Other debtors

854,104

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2017

£

£

Trade creditors

25,786

-

Taxation and social security

3,497

-

Other creditors

29,700

-

58,983

-

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the periods ended 31 March 2019

and 31 October 2017:

2019

2017

£

£

C Butler

Balance outstanding at start of period

-

-

Amounts advanced

88,016

-

Amounts repaid

(47,500

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

40,516

-

C J Spencer

Balance outstanding at start of period

-

-

Amounts advanced

102,985

-

Amounts repaid

(63,300

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

39,685

-

P C Lee

Balance outstanding at start of period

-

-

Amounts advanced

60,048

-

Amounts repaid

(40,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

20,048

-