MUSKET_BREWERY_LIMITED - Accounts

Net obligations of £7,628 (2020 - £13,117) under hire purchase contracts are secured by fixed charges on the assets concerned.

Total financial commitments for future minimum lease payments under operating leases, which are not included in the balance sheet, amount to £78,866. Of this total, £6,222 is secured by way of personal guarantees.

The average number of persons, including directors, employed by the company during the year was as follows:

Creditors amounts falling due within one year includes an amount of £86,963 (2020 - £86,036) in respect of monies loan to the company by the directors. There are no fixed terms for repayment of these amounts.

Creditors due after more than one year includes an amount of £57,343 (2020 - £63,960 ) in respect of a Government Grant that was received to subsidise the purchase of brewery equipment. This amount will not be repayable but instead credited to the profit and loss account to offset depreciation on the related equipment over a 10 year period from 2019.

Like most businesses providing services to the hospitality trade, the company has been adversely affected by COVID-19 and effectively stopped trading for a number of months during the year. During this time, the company benefited from Government furlough claims and other grants. The directors are satisfied that the company has the financial resources to continue trading as the UK economy comes out of lockdown.

Musket Brewery Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3-4 Bower Terrace, Tonbridge Road, Maidstone, Kent, ME16 8RY.

For the year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.