The Gipsy Hill Brewing Company Ltd

The Gipsy Hill Brewing Company Ltd

THE GIPSY HILL BREWING COMPANY LTD. - Company Information

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2020-01-012020-12-312020-12-31false08753051The Gipsy Hill Brewing Company Ltd2021-09-30iso4217:GBPxbrli:pure087530512020-01-01087530512020-12-31087530512020-01-012020-12-31087530512018-11-01087530512019-12-31087530512018-11-012019-12-3108753051bus:SmallEntities2020-01-012020-12-3108753051bus:AuditExempt-NoAccountantsReport2020-01-012020-12-3108753051bus:FullAccounts2020-01-012020-12-3108753051bus:PrivateLimitedCompanyLtd2020-01-012020-12-3108753051core:WithinOneYear2020-12-3108753051core:AfterOneYear2020-12-3108753051core:WithinOneYear2019-12-3108753051core:AfterOneYear2019-12-3108753051core:ShareCapital2020-12-3108753051core:SharePremium2020-12-3108753051core:RevaluationReserve2020-12-3108753051core:OtherReservesSubtotal2020-12-3108753051core:RetainedEarningsAccumulatedLosses2020-12-3108753051core:ShareCapital2019-12-3108753051core:SharePremium2019-12-3108753051core:RevaluationReserve2019-12-3108753051core:OtherReservesSubtotal2019-12-3108753051core:RetainedEarningsAccumulatedLosses2019-12-3108753051core:LandBuildings2020-12-3108753051core:PlantMachinery2020-12-3108753051core:Vehicles2020-12-3108753051core:FurnitureFittings2020-12-3108753051core:OfficeEquipment2020-12-3108753051core:NetGoodwill2020-12-3108753051core:IntangibleAssetsOtherThanGoodwill2020-12-3108753051core:ListedExchangeTraded2020-12-3108753051core:UnlistedNon-exchangeTraded2020-12-3108753051core:LandBuildings2019-12-3108753051core:PlantMachinery2019-12-3108753051core:Vehicles2019-12-3108753051core:FurnitureFittings2019-12-3108753051core:OfficeEquipment2019-12-3108753051core:NetGoodwill2019-12-3108753051core:IntangibleAssetsOtherThanGoodwill2019-12-3108753051core:ListedExchangeTraded2019-12-3108753051core:UnlistedNon-exchangeTraded2019-12-3108753051core:LandBuildings2020-01-012020-12-3108753051core:PlantMachinery2020-01-012020-12-3108753051core:Vehicles2020-01-012020-12-3108753051core:FurnitureFittings2020-01-012020-12-3108753051core:OfficeEquipment2020-01-012020-12-3108753051core:NetGoodwill2020-01-012020-12-3108753051core:IntangibleAssetsOtherThanGoodwill2020-01-012020-12-3108753051core:ListedExchangeTraded2020-01-012020-12-3108753051core:UnlistedNon-exchangeTraded2020-01-012020-12-3108753051core:MoreThanFiveYears2020-01-012020-12-3108753051core:Non-currentFinancialInstruments2020-12-3108753051core:Non-currentFinancialInstruments2019-12-3108753051dpl:CostSales2020-01-012020-12-3108753051dpl:DistributionCosts2020-01-012020-12-3108753051dpl:AdministrativeExpenses2020-01-012020-12-3108753051core:LandBuildings2020-01-012020-12-3108753051core:PlantMachinery2020-01-012020-12-3108753051core:Vehicles2020-01-012020-12-3108753051core:FurnitureFittings2020-01-012020-12-3108753051core:OfficeEquipment2020-01-012020-12-3108753051core:NetGoodwill2020-01-012020-12-3108753051core:IntangibleAssetsOtherThanGoodwill2020-01-012020-12-3108753051dpl:GroupUndertakings2020-01-012020-12-3108753051dpl:ParticipatingInterests2020-01-012020-12-3108753051dpl:GroupUndertakingscore:ListedExchangeTraded2020-01-012020-12-3108753051core:ListedExchangeTraded2020-01-012020-12-3108753051dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2020-01-012020-12-3108753051core:UnlistedNon-exchangeTraded2020-01-012020-12-3108753051dpl:CostSales2018-11-012019-12-3108753051dpl:DistributionCosts2018-11-012019-12-3108753051dpl:AdministrativeExpenses2018-11-012019-12-3108753051core:LandBuildings2018-11-012019-12-3108753051core:PlantMachinery2018-11-012019-12-3108753051core:Vehicles2018-11-012019-12-3108753051core:FurnitureFittings2018-11-012019-12-3108753051core:OfficeEquipment2018-11-012019-12-3108753051core:NetGoodwill2018-11-012019-12-3108753051core:IntangibleAssetsOtherThanGoodwill2018-11-012019-12-3108753051dpl:GroupUndertakings2018-11-012019-12-3108753051dpl:ParticipatingInterests2018-11-012019-12-3108753051dpl:GroupUndertakingscore:ListedExchangeTraded2018-11-012019-12-3108753051core:ListedExchangeTraded2018-11-012019-12-3108753051dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2018-11-012019-12-3108753051core:UnlistedNon-exchangeTraded2018-11-012019-12-3108753051core:NetGoodwill2020-12-3108753051core:IntangibleAssetsOtherThanGoodwill2020-12-3108753051core:LandBuildings2020-12-3108753051core:PlantMachinery2020-12-3108753051core:Vehicles2020-12-3108753051core:FurnitureFittings2020-12-3108753051core:OfficeEquipment2020-12-3108753051core:AfterOneYear2020-12-3108753051core:WithinOneYear2020-12-3108753051core:ListedExchangeTraded2020-12-3108753051core:UnlistedNon-exchangeTraded2020-12-3108753051core:ShareCapital2020-12-3108753051core:SharePremium2020-12-3108753051core:RevaluationReserve2020-12-3108753051core:OtherReservesSubtotal2020-12-3108753051core:RetainedEarningsAccumulatedLosses2020-12-3108753051core:NetGoodwill2019-12-3108753051core:IntangibleAssetsOtherThanGoodwill2019-12-3108753051core:LandBuildings2019-12-3108753051core:PlantMachinery2019-12-3108753051core:Vehicles2019-12-3108753051core:FurnitureFittings2019-12-3108753051core:OfficeEquipment2019-12-3108753051core:AfterOneYear2019-12-3108753051core:WithinOneYear2019-12-3108753051core:ListedExchange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The Gipsy Hill Brewing Company Ltd

Registered Number
08753051
(England and Wales)

Unaudited Financial Statements for the Year Ended
31 December 2020

The Gipsy Hill Brewing Company Ltd
Company Information
for the year from 1 January 2020 to 31 December 2020

Directors

T J C Eggar (appointed 1 January 2021)
A F Hook (appointed 1 January 2021)
B R Mackie (appointed 1 January 2021)
S T McMeekin
C R Shaw

Registered Address

Unit 11 Hamilton Road Industrial Estate
Hamilton Road
London
SE27 9SF

Registered Number

08753051 (England and Wales)
The Gipsy Hill Brewing Company Ltd
Statement of Financial Position
31 December 2020

Notes

2020

2019

£

£

£

£

Fixed assets
Intangible assets934,4434,380
Tangible assets101,882,8051,454,034
Investments11200-
1,917,4481,458,414
Current assets
Stocks15438,169354,942
Debtors16713,378815,278
Cash at bank and on hand2,026,986148,777
3,178,5331,318,997
Creditors amounts falling due within one year17(470,550)(360,480)
Net current assets (liabilities)2,707,983958,517
Total assets less current liabilities4,625,4312,416,931
Creditors amounts falling due after one year18(5,388,349)(2,975,517)
Net assets(762,918)(558,586)
Capital and reserves
Called up share capital1212
Share premium1,099,7751,104,014
Other reserves265,760-
Profit and loss account(2,128,465)(1,662,612)
Shareholders' funds(762,918)(558,586)
  • The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge 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 in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.
The financial statements were approved and authorised for issue by the Board of Directors on 30 September 2021, and are signed on its behalf by:
S T McMeekin
Director
Registered Company No. 08753051
The Gipsy Hill Brewing Company Ltd
Notes to the Financial Statements
for the year ended 31 December 2020

1.STATUTORY INFORMATION
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.COMPLIANCE WITH APPLICABLE REPORTING FRAMEWORK
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.PRINCIPAL ACTIVITIES
The principal activity of the company in the period under review was that of running a brewery.
4.SMALLEST GROUP IN WHICH RESULTS ARE CONSOLIDATED
The financial statements contain information about The Gipsy Hill Brewing Company Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
5.BASIS OF MEASUREMENT USED IN FINANCIAL STATEMENTS
These financial statements have been prepared under the historical cost convention.
6.ACCOUNTING POLICIES
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The balance sheet is credited with the value of invoiced sales, as deferred income, which is then amortised to revenue over the period of the contract. At the balance sheet date, the carrying value of deferred income reflects the total value of invoiced sales which has not yet been recognised as revenue.
Property, plant and equipment policy
Tangible assets are stated at cost (or deemed cost), less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.




Straight line (years)

Plant and machinery10
Fixtures and fittings10
Vehicles4
Office Equipment3
Intangible assets policy
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. Intangible assets represent website development, trademarks, brand designs & licenses and are amortised over 4 years on a straight line basis.
Inventories policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Research and development policy
Revenue expenditure on research and development is written off in the year in which it is incurred.
Foreign currency translation and operations policy
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each reporting period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at the period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the consolidated profit and loss account.
Government grants and other government assistance policy
Coronavirus Job Retention Scheme (CJRS) grant income is recognised in the period to which the underlying furloughed staff costs relate to. Grant income has also been recognised in respect of Business Interruption Relief granted on loans during the pandemic.
Leases policy
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
Valuation of financial instruments policy
The Company has chosen to adopt the Sections 11and 12 of FRS 102 in respect of financial instruments. The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently,at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out right short term loan not at market rate, the financial asset or liability is measured, initially,at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Cash and cash equivalents comprise cash on hand and demand deposits and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.
Going concern
The financial statements have been prepared on a going concern basis. The company incurred losses during the year and the directors believe the company has sufficient cash reserves to meet its obligations, if and when, they become due. The directors have considered the impact of the COVID 19 pandemic on the activities of the business and do not consider that this will materially impact the ability of the company to trade profitably in future. The directors are therefore of the opinion that they should continue to adopt the going concern basis of accounting in preparing the financial statements.
7.CRITICAL ESTIMATES AND JUDGEMENTS
There are no significant estimates or judgements.
8.EMPLOYEE INFORMATION




2020



2019

Average number of employees during the year2422
9.INTANGIBLE ASSETS



Other
£


Total
£

Cost or valuation
At 01 January 205,3915,391
Additions36,68936,689
At 31 December 2042,08042,080
Amortisation and impairment
At 01 January 201,0111,011
Charge for year6,6266,626
At 31 December 207,6377,637
Net book value
At 31 December 2034,44334,443
At 31 December 194,3804,380
10.PROPERTY, PLANT AND EQUIPMENT
Included in Plant and Machinery are Tanks, which are depreciated over 20 years



Plant & machinery
£


Fixtures & fittings
£


Office Equipment
£


Total
£

Cost or valuation
At 01 January 201,811,64030,1797,4041,849,223
Additions552,01632,05310,584594,653
At 31 December 202,363,65662,23217,9882,443,876
Depreciation and impairment
At 01 January 20383,3398,3203,530395,189
Charge for year155,9854,5475,350165,882
At 31 December 20539,32412,8678,880561,071
Net book value
At 31 December 201,824,33249,3659,1081,882,805
At 31 December 191,428,30121,8593,8741,454,034
11.FIXED ASSET INVESTMENTS



Investments in group undertakings and participating interests
£


Total
£

Cost or valuation
Additions200200
At 31 December 20200200
Net book value
At 31 December 20200200
At 31 December 19--
12.DESCRIPTION OF FINANCIAL COMMITMENTS OTHER THAN CAPITAL COMMITMENTS
Leasing Agreements Lease of Unit 7 Hamilton Road Industrial Estate The rental lease runs from 1 September 2018 to and including the 31 October 2022 for £49,140 per annum. The lease expires on 31 October 2022 Lease of Unit 8 Hamilton Road Industrial Estate The rental lease runs from 1 November 2016 to and including the 31 October 2019 for £48,000 per annum and from and including the 1 November 2019 at £53,000 per annum. The lease expires on 31 October 2021 Lease of Unit 9 Hamilton Road Industrial Estate The rental lease runs from 1 July 2017 to and including the 30 June 2020 for £31,000 per annum and from and including the 1 July 2020 at £35,000 per annum. The lease expires on 31 October 2021 Lease of Unit 10 Hamilton Road Industrial Estate The rental lease runs from 1 January 2019 to and including the 31 October 2022 for £35,440 per annum. The lease expires on 31 October 2022 Lease of Unit 11 Hamilton Road Industrial Estate The rental lease runs from 1 November 2016 to and including the 31 October 2019 for £35,000 per annum and from and including the 1 November 2019 at £40,000 per annum. The lease expires on 31 October 2021 Lease of Unit 5 Somers Place Upper Tulse Road The rental lease runs from 28 October 2020 to and including the 30 April 2021 for £72,179 per annum and from and including the 1 May 2021 at £144,358 per annum. The lease expires on 31October 2023.
13.DESCRIPTION OF NATURE OF TRANSACTIONS AND BALANCES WITH RELATED PARTIES
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other companies within the group. At the balance sheet date, the company owed the directors £1,160,553 (2019: £1,131,683). The loans are disclosed as convertible loans on the balance sheet and attract interest at a rate of 8% per annum.
14.FURTHER INFORMATION REGARDING THE COMPANY'S FINANCIAL POSITION
Asset Advantage Limited has holds a fixed and floating charge over the assets of the company in respect of a finance agreement with the company.
15.INVENTORIES



2020
£


2019
£

Raw materials and consumables438,169354,942
Total438,169354,942
16.DEBTORS



2020
£


2019
£

Trade debtors / trade receivables120,744490,631
Amounts owed by group undertakings241,444157,591
Other debtors340,332166,434
Prepayments and accrued income10,858622
Total713,378815,278
17.CREDITORS WITHIN ONE YEAR



2020
£


2019
£

Trade creditors / trade payables172,301271,273
Bank borrowings and overdrafts5,833-
Taxation and social security184,71283,282
Other creditors52,3792,925
Accrued liabilities and deferred income55,3253,000
Total470,550360,480
18.CREDITORS AFTER ONE YEAR



2020
£


2019
£

Bank borrowings and overdrafts44,167-
Convertible loans5,204,3422,734,497
Other creditors139,840241,020
Total5,388,3492,975,517