Basement Beer Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 12064121 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2023

for

Basement Beer Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J M Caddy

B J Evans

SECRETARY:

REGISTERED OFFICE:

32 Upper York Street

Bristol

BS2 9QD

REGISTERED NUMBER:

12064121 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Chartered Accountants (ICAEW)

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

FIXED ASSETS

Tangible assets

4

24,146

25,111

CURRENT ASSETS

Debtors

5

4,625

5,223

Cash at bank

3,460

2,294

8,085

7,517

CREDITORS

Amounts falling due within one year

6

31,573

36,558

NET CURRENT LIABILITIES

(23,488

)

(29,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

658

(3,930

)

CREDITORS

Amounts falling due after more than one year

7

1,894

2,500

NET LIABILITIES

(1,236

)

(6,430

)

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

(1,246

)

(6,440

)

SHAREHOLDERS' FUNDS

(1,236

)

(6,430

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 26 March 2024 and were signed on its behalf by:

B J Evans - Director

J M Caddy - Director

1.	STATUTORY INFORMATION

Basement Beer Ltd 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.

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.

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 etc

-

15% on reducing balance basis

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2022

32,068

Additions

17,218

Disposals

(21,026

)

At 30 June 2023

28,260

DEPRECIATION

At 1 July 2022

6,957

Charge for year

1,978

Eliminated on disposal

(4,821

)

At 30 June 2023

4,114

NET BOOK VALUE

At 30 June 2023

24,146

At 30 June 2022

25,111

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

1,786

2,648

Other debtors

2,839

2,575

4,625

5,223

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

17,411

14,960

Taxation and social security

1,003

1,136

Other creditors

13,159

20,462

31,573

36,558

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

1,894

2,500

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr

1,894

2,500

8.	RELATED PARTY DISCLOSURES

The balance outstanding at the year end on a loan received on normal commercial terms from Hood Leisure Limited, a company of which Mr J M Caddy is a director, amounted to £15,419 (2022 £14,390).