ISLE_OF_WIGHT_BREWERY_LIM - Accounts

ISLE OF WIGHT BREWERY LIMITED - Company Information

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Company Registration No. 07029547 (England and Wales)

ISLE OF WIGHT BREWERY LIMITED

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

ISLE OF WIGHT BREWERY LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 4

ISLE OF WIGHT BREWERY LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

83,265

91,518

Current assets

Stocks

31,318

21,915

Debtors

49,163

33,304

Cash at bank and in hand

1,569

18,844

82,050

74,063

Creditors: amounts falling due within one year

(62,834)

(66,465)

Net current assets

19,216

7,598

Total assets less current liabilities

102,481

99,116

Creditors: amounts falling due after more than one year

(9,573)

(12,273)

Provisions for liabilities

(15,502)

(16,330)

77,406

70,513

Capital and reserves

Called up share capital

100

Profit and loss account

77,306

70,413

Shareholders' funds

77,406

70,513

ISLE OF WIGHT BREWERY LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 JANUARY 2016

- 2 -

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 27 May 2016

Mr T Minshull

Mr C Mousley

Director

Company Registration No. 07029547

ISLE OF WIGHT BREWERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

10% reducing balance

Fixtures, fittings & equipment

15% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value.

Fixed assets

Tangible assets

Cost

At 1 February 2015

147,449

Additions

1,400

At 31 January 2016

148,849

Depreciation

At 1 February 2015

55,931

Charge for the year

9,653

At 31 January 2016

65,584

Net book value

At 31 January 2016

83,265

At 31 January 2015

91,518

ISLE OF WIGHT BREWERY LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 4 -

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £2,556 (2015 - £2,412).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £9,573 (2015 - £12,273).

Share capital

2016

2015

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100