Hurly Burly Brewery Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC489175 (Scotland)

Unaudited Financial Statements

for the Period 1 April 2021 to 28 February 2022

for

Hurly Burly Brewery Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P L McNaught

Mrs L A McNaught

REGISTERED OFFICE:

15 Wedderburn Terrace

Inveresk

Musselburgh

EH21 7TJ

REGISTERED NUMBER:

SC489175 (Scotland)

ACCOUNTANTS:

Lamont Blair Chartered Accountants

1A Berwick Drive

Rutherglen

South Lanarkshire

G73 3JP

FIXED ASSETS

Tangible assets

4

-

9,235

CURRENT ASSETS

Stocks

-

982

Debtors

-

2,881

Cash at bank

29,399

15,480

29,399

19,343

CREDITORS

Amounts falling due within one year

45,469

56,563

NET CURRENT LIABILITIES

(16,070

)

(37,220

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(16,070

)

(27,985

)

CREDITORS

Amounts falling due after more than one year

-

13,750

NET LIABILITIES

(16,070

)

(41,735

)

CAPITAL AND RESERVES

Called up share capital

5

10

10

Retained earnings

(16,080

)

(41,745

)

SHAREHOLDERS' FUNDS

(16,070

)

(41,735

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2022 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the period ended 28 February 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 March 2022 and were signed on its behalf by:

P L McNaught - Director

1.	STATUTORY INFORMATION

Hurly Burly Brewery Ltd is a private company, limited by shares , registered in Scotland. 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.

During the period to cessation at 28th February 2022 the company made a profit of £25,665, however had net liabilities of £16,070.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Although these estimates are based on management's best knowledge of the amount, events or actions, actual results ultimately may differ from those estimates.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

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 period 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 period 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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2021

37,721

Disposals

(37,721

)

At 28 February 2022

-

DEPRECIATION

At 1 April 2021

28,486

Eliminated on disposal

(28,486

)

At 28 February 2022

-

NET BOOK VALUE

At 28 February 2022

-

At 31 March 2021

9,235

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

10

Ordinary

£1

10

10