PEAKSTONES ROCK BREWING CO LTD - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07706985 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2019

FOR

PEAKSTONES ROCK BREWING CO LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

7

DIRECTORS:

D F Edwards

S M Edwards

J F Edwards

REGISTERED OFFICE:

1 Tape Street

Cheadle

Stoke On Trent

Staffordshire

ST10 1BB

REGISTERED NUMBER:

07706985 (England and Wales)

ACCOUNTANTS:

Curtis Accountants Ltd

1 Tape Street

Cheadle

Stoke On Trent

Staffordshire

ST10 1BB

FIXED ASSETS

Intangible assets

4

3,500

4,000

Property, plant and equipment

5

3,943

4,996

7,443

8,996

CURRENT ASSETS

Debtors

6

9,733

5,615

Cash at bank and in hand

11,885

6,773

21,618

12,388

CREDITORS

Amounts falling due within one year

7

26,256

19,340

NET CURRENT LIABILITIES

(4,638

)

(6,952

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,805

2,044

PROVISIONS FOR LIABILITIES

8

749

707

NET ASSETS

2,056

1,337

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

2,046

1,327

SHAREHOLDERS' FUNDS

2,056

1,337

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 20 January 2020 and were signed on its behalf by:

S M Edwards - Director

J F Edwards - Director

1.	STATUTORY INFORMATION

PEAKSTONES ROCK BREWING CO 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.

There were no material departures from that standard.

The financial statements have been prepared on a going concern basis which assumes that the Company will

continue in operational existence for the foreseeable future.

Turnover

Revenue 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 2012, is being amortised evenly over its estimated useful life of fifteen 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.

Equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2018

and 31 July 2019

7,500

AMORTISATION

At 1 August 2018

3,500

Amortisation for year

500

At 31 July 2019

4,000

NET BOOK VALUE

At 31 July 2019

3,500

At 31 July 2018

4,000

5.	PROPERTY, PLANT AND EQUIPMENT

Motor

Equipment

vehicles

Totals

£

£

£

COST

At 1 August 2018

13,008

5,850

18,858

Additions

262

-

262

At 31 July 2019

13,270

5,850

19,120

DEPRECIATION

At 1 August 2018

9,417

4,444

13,861

Charge for year

964

352

1,316

At 31 July 2019

10,381

4,796

15,177

NET BOOK VALUE

At 31 July 2019

2,889

1,054

3,943

At 31 July 2018

3,591

1,406

4,997

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

4,892

-

Debtors and Prepayments

4,841

5,615

9,733

5,615

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

-

292

Trade creditors

163

-

Tax

2,459

2,092

VAT

5,261

3,841

Directors' current accounts

14,635

10,663

Creditors and Accruals

3,738

2,452

26,256

19,340

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

749

707

Deferred

tax

£

Balance at 1 August 2018

707

Provided during year

42

Balance at 31 July 2019

749

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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income 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 PEAKSTONES ROCK BREWING CO LTD for the year ended 31 July 2019 which comprise

the Statement of Comprehensive Income, Statement of Financial Position, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of PEAKSTONES ROCK BREWING CO LTD, 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 PEAKSTONES ROCK BREWING CO LTD and state those matters that we have agreed to state to the Board of Directors of PEAKSTONES ROCK BREWING CO LTD, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PEAKSTONES ROCK BREWING CO LTD 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 PEAKSTONES ROCK BREWING CO LTD. You consider that PEAKSTONES ROCK BREWING CO LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PEAKSTONES ROCK BREWING CO LTD. 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.

Curtis Accountants Ltd

1 Tape Street

Cheadle

Stoke On Trent

Staffordshire

ST10 1BB

20 January 2020