We Brought Beer Ltd
We Brought Beer Ltd
Registered number: 08933877
Unaudited Financial Statements
For The Year Ended
31 March 2020
ChadSan Limited
Castle House
Castle Street
Guildford
GU1 3UW
We Brought Beer Ltd
Unaudited Financial Statements
For The Year Ended
31 March 2020
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
We Brought Beer Ltd
Balance Sheet
As at
31 March 2020
Balance Sheet
Registered number:
08933877
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| 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 LIABILITIES |
( |
( |
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 8 |
|
|
||
| Share premium account |
|
|
|||
| Profit and Loss Account |
( |
( |
|||
| SHAREHOLDERS' FUNDS | (223,064) | (145,731) | |||
Page 1
We Brought Beer Ltd
Balance Sheet (continued)
As at
31 March 2020
Directors' responsibilities
-
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 5 form part of these financial statements.
Page 2
We Brought Beer Ltd
Notes to the Financial Statements
For The Year Ended
31 March 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
|
| Plant & Machinery |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
1.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 6 (2019: 11)
Page 3
We Brought Beer Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
4.
Tangible Assets
| Land & Property | |||||
|---|---|---|---|---|---|
| Leasehold | Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| As at
|
|
|
|
|
|
| Additions |
|
|
|
|
|
| As at
|
|
|
|
|
|
| Depreciation | |||||
| As at
|
|
|
|
|
|
| Provided during the period |
|
|
|
|
|
| As at
|
|
|
|
|
|
| Net Book Value | |||||
| As at
|
|
|
|
|
|
| As at
|
|
|
|
|
|
5.
Debtors
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
|
|
|
||
6.
Creditors: Amounts Falling Due Within One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Amounts owed by group undertakings | 201,759 | 135,658 | |
| Other creditors | 9,027 | 34,784 | |
| Taxation and social security | 19,750 | 12,381 | |
|
|
|
||
Page 4
We Brought Beer Ltd
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2020
7.
Creditors: Amounts Falling Due After More Than One Year
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
|
|
|
||
9.
Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
| Land and buildings | ||
|---|---|---|
| 2020 | 2019 | |
| £ | £ | |
| Within 1 year | 20,000 | 21,667 |
| Between 1 and 5 years | 64,722 | 80,000 |
| After 5 years | - | 4,778 |
| 84,722 | 106,445 | |
10.
Ultimate Controlling Party
The company's ultimate controlling party is Two Heads Beer Co Ltd.
11.
Going Concern
As at the balance sheet date the company had net liabilities. These financial statements have been prepared on thegoing concern basis, on the understanding that the directors and shareholders will continue to support the company forthe forseeable future.
12.
General Information
We Brought Beer Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
08933877
. The registered office is 28 Hildreth Street, Balham, London, SW12 9RQ.
Page 5