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

30 November 2021

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

Chartered Accountants' Report

9

DIRECTORS:

J R Hughes

P D Hughes

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

8,630

10,069

Tangible assets

5

111,854

124,076

Investments

6

-

1

120,484

134,146

CURRENT ASSETS

Debtors

7

14,504

9,623

Cash at bank and in hand

83,700

66,809

98,204

76,432

CREDITORS

Amounts falling due within one year

8

(157,815

)

(159,404

)

NET CURRENT LIABILITIES

(59,611

)

(82,972

)

TOTAL ASSETS LESS CURRENT LIABILITIES

60,873

51,174

CREDITORS

Amounts falling due after more than one year

9

(36,461

)

(45,000

)

NET ASSETS

24,412

6,174

CAPITAL AND RESERVES

Called up share capital

10

111

111

Share premium

524,897

524,897

Retained earnings

(500,596

)

(518,834

)

SHAREHOLDERS' FUNDS

24,412

6,174

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 25 August 2022 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.

Leasehold improvements

-

2% reducing balance

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in other income within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme and Coronavirus local authority grants.

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.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2020 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 December 2020

and 30 November 2021

135

14,250

14,385

AMORTISATION

At 1 December 2020

41

4,275

4,316

Charge for year

14

1,425

1,439

At 30 November 2021

55

5,700

5,755

NET BOOK VALUE

At 30 November 2021

80

8,550

8,630

At 30 November 2020

94

9,975

10,069

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

Plant and

and

Motor

improvements

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 December 2020

13,522

224,563

16,103

12,500

266,688

Additions

2,499

3,723

9,469

-

15,691

At 30 November 2021

16,021

228,286

25,572

12,500

282,379

DEPRECIATION

At 1 December 2020

128

134,520

7,339

625

142,612

Charge for year

305

21,807

3,426

2,375

27,913

At 30 November 2021

433

156,327

10,765

3,000

170,525

NET BOOK VALUE

At 30 November 2021

15,588

71,959

14,807

9,500

111,854

At 30 November 2020

13,394

90,043

8,764

11,875

124,076

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2020

1

Disposals

(1

)

At 30 November 2021

-

NET BOOK VALUE

At 30 November 2021

-

At 30 November 2020

1

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Trade debtors

6,219

1,323

Other debtors

8,285

8,300

14,504

9,623

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

as restated

£

£

Bank loans and overdrafts

9,607

5,000

Trade creditors

1,159

4,159

Amounts owed to associates

85,000

93,000

Taxation and social security

10,096

6,013

Other creditors

51,953

51,232

157,815

159,404

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

as restated

£

£

Bank loans

36,461

45,000

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

5,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

as restated

£

£

11,112

A

1p

111

111

11.	RELATED PARTY DISCLOSURES

At the year end a director is owed £50,456 (2020 - £50,000) relating to an interest free loan with no set repayment terms.

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 Balance Sheet. Readers are cautioned that the Income Statement 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 Unicorn Craft Brewing Co Limited for the year ended 30 November 2021 which comprise the Income Statement, Balance Sheet, 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Unicorn Craft Brewing Co Limited, 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 Unicorn Craft Brewing Co Limited and state those matters that we have agreed to state to the Board of Directors of Unicorn Craft Brewing Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Unicorn Craft Brewing Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Unicorn Craft Brewing Co Limited 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 Unicorn Craft Brewing Co Limited. You consider that Unicorn Craft Brewing Co Limited 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 Unicorn Craft Brewing Co Limited. 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.

Haines Watts

Chartered Accountants

8 Hopper Way

Diss

Norfolk

IP22 4GT

Date: .............................................