Unicorn Craft Brewing Co Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11080676 (England and Wales)

Unicorn Craft Brewing Co Limited

Unaudited Financial Statements

For The Year Ended

30th November 2019

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

DIRECTORS:

J R Hughes

P D Hughes

SECRETARY:

REGISTERED OFFICE:

7 The Arches

Bracondale

Norwich

Norfolk

NR1 2EF

REGISTERED NUMBER:

11080676 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

8 Hopper Way

Diss

Norfolk

IP22 4GT

FIXED ASSETS

Intangible assets

4

11,507

12,946

Tangible assets

5

161,262

214,158

Investments

6

1

1

172,770

227,105

CURRENT ASSETS

Debtors

7

40,957

197,107

Cash at bank

26,185

23,619

67,142

220,726

CREDITORS

Amounts falling due within one year

8

31,250

2,363

NET CURRENT ASSETS

35,892

218,363

TOTAL ASSETS LESS CURRENT LIABILITIES

208,662

445,468

CAPITAL AND RESERVES

Called up share capital

9

111

100

Share premium

524,897

469,908

Retained earnings

(316,346

)

(24,540

)

SHAREHOLDERS' FUNDS

208,662

445,468

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 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 and authorised for issue on 12th November 2020 and were signed on its behalf by:

J R Hughes - Director

1.	STATUTORY INFORMATION

Unicorn Craft Brewing Co 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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 2017, 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.

Development costs are being amortised evenly over their estimated useful life of ten years.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1st December 2018

and 30th November 2019

135

14,250

14,385

AMORTISATION

At 1st December 2018

14

1,425

1,439

Charge for year

14

1,425

1,439

At 30th November 2019

28

2,850

2,878

NET BOOK VALUE

At 30th November 2019

107

11,400

11,507

At 30th November 2018

121

12,825

12,946

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1st December 2018

273,564

11,985

285,549

Additions

858

-

858

At 30th November 2019

274,422

11,985

286,407

DEPRECIATION

At 1st December 2018

68,394

2,997

71,391

Charge for year

51,507

2,247

53,754

At 30th November 2019

119,901

5,244

125,145

NET BOOK VALUE

At 30th November 2019

154,521

6,741

161,262

At 30th November 2018

205,170

8,988

214,158

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1st December 2018

and 30th November 2019

1

NET BOOK VALUE

At 30th November 2019

1

At 30th November 2018

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

40,685

179,665

Other debtors

272

17,442

40,957

197,107

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

612

Other creditors

31,250

1,751

31,250

2,363

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

11,112

A

1p

111

100

1,112 A shares of 1p were issued during the year for cash of £ 11 .