Nethergate Brewery Co Ltd - Accounts to registrar (filleted) - small 18.2
Nethergate Brewery Co Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2020 |
| for |
| Nethergate Brewery Co Ltd |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Contents of the Financial Statements |
| for the year ended 31 March 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Nethergate Brewery Co Ltd |
| Company Information |
| for the year ended 31 March 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 7 Forbes Business Centre |
| Kempson Way |
| Bury St Edmunds |
| Suffolk |
| IP32 7AR |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Balance Sheet |
| 31 March 2020 |
| 31/3/20 | 31/3/19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Share premium | 9 |
| Fair Value reserve | 9 |
| Retained earnings | 9 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Balance Sheet - continued |
| 31 March 2020 |
| 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 |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Notes to the Financial Statements |
| for the year ended 31 March 2020 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 April 2019 |
| and 31 March 2020 |
| AMORTISATION |
| At 1 April 2019 |
| and 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 April 2019 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| Revaluations |
| At 31 March 2020 |
| DEPRECIATION |
| At 1 April 2019 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2020 |
| NET BOOK VALUE |
| At 31 March 2020 |
| At 31 March 2019 |
| Included in cost or valuation of land and buildings is freehold land of £ 786,997 (2019 - £ 765,550 ) which is not depreciated. |
| Cost or valuation at 31 March 2020 is represented by: |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2018 | - | 29,106 | - | - | 29,106 |
| Valuation in 2020 | 21,447 | - | - | - | 21,447 |
| Cost | 1,135,961 | 528,204 | 85,199 | 29,057 | 1,778,421 |
| 1,157,408 | 557,310 | 85,199 | 29,057 | 1,828,974 |
| Casks were revalued by the directors during the 2019 year to reflect their market value. |
| The directors revalued the freehold land and buildings in the year to update their market value. |
| Nethergate Brewery Co Ltd (Registered number: 08983113) |
| Notes to the Financial Statements - continued |
| for the year ended 31 March 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/20 | 31/3/19 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/20 | 31/3/19 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/20 | 31/3/19 |
| £ | £ |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Other loans more 5yrs instal | 100,000 | - |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/3/20 | 31/3/19 |
| value: | £ | £ |
| Ordinary | £1 | 1,428,304 | 1,404,499 |
| 23,805 Ordinary shares of £1 each were allotted as fully paid |
| 9. | RESERVES |
| Fair |
| Retained | Share | Value |
| earnings | premium | reserve | Totals |
| £ | £ | £ | £ |
| At 1 April 2019 | ( |
) | (170,589 | ) |
| Profit for the year |
| Cash share issue | - | 29,719 | - | 29,719 |
| Revaluation | (16,790 | ) | - | 16,790 | - |
| Cask revaluation depreciation | 1,383 | - | (1,383 | ) | - |
| At 31 March 2020 | ( |
) | (123,025 | ) |
| 10. | RELATED PARTY DISCLOSURES |
| An unsecured loan to the sum of £500,000 (2019:£560,000) was owed by the business to Burlison Inns Limited at the year end, a company which is controlled by Mr G Burlison. The terms of this loan are based on 6% per annum, charged on a monthly balance. |