Bellfield Brewery Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: SC492519 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Bellfield Brewery Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs G Dye

M Brown

REGISTERED OFFICE:

46 Stanley Place

Edinburgh

Lothian

EH7 5TB

REGISTERED NUMBER:

SC492519 (Scotland)

ACCOUNTANTS:

A H & Co Ltd

Chartered Accountants

6 Logie Mill

Edinburgh

Lothian

EH7 4HG

FIXED ASSETS

Intangible assets

4

128

-

Tangible assets

5

3,115

1,266

3,243

1,266

CURRENT ASSETS

Stocks

18,760

-

Debtors

6

28,796

3,491

Cash at bank

9,491

140,359

57,047

143,850

CREDITORS

Amounts falling due within one year

7

27,099

11,156

NET CURRENT ASSETS

29,948

132,694

TOTAL ASSETS LESS CURRENT LIABILITIES

33,191

133,960

PROVISIONS FOR LIABILITIES

8

623

253

NET ASSETS

32,568

133,707

CAPITAL AND RESERVES

Called up share capital

9

11

11

Share premium

178,802

178,802

Retained earnings

(146,245

)

(45,106

)

SHAREHOLDERS' FUNDS

32,568

133,707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 26 May 2017 and were signed on its behalf by:

Mrs G Dye - Director

1.	STATUTORY INFORMATION

Bellfield Brewery Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on the going concern basis, the acceptability of which is dependent on the

continuing support of the directors and shareholders.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are

considered to have been transferred to the buyer. Turnover from sale of goods is recognised when the goods are

physically delivered to the customer.Turnover from the supply of services represents the value of services

provided under contracts to the extent that there is a right to consideration and is recorded at fair value of the

consideration received or receivable.

Intangible assets

Amortisation is provided at the following annual rate to write off the cost over its estimated useful life.

Patent & Licenses - 10% on cost

Tangible fixed assets

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

Improvements to property

-

10% on cost

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net

realisable value. Costs includes materials, direct labour and an attributable proportion of manufacturing

overheads based on normal levels of activity.

Financial instruments

Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of

the instrument. All financial assets and liabilities are initially measured at transaction price (including transaction

costs), except for those financial assets classified as at fair value through profit or loss, which are initially

measured at fair value (which is normally the transaction price excluding transaction costs).

Financial assets are derecognised when and only when contractual rights to the cash flows from the financial

asset expire or are settled. Financial liabilities are derecognised only when the obligation specified in the contract

is discharged, cancelled or expires.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

Additions

142

At 31 December 2016

142

AMORTISATION

Amortisation for year

14

At 31 December 2016

14

NET BOOK VALUE

At 31 December 2016

128

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 January 2016

-

1,616

-

1,616

Additions

715

914

997

2,626

At 31 December 2016

715

2,530

997

4,242

DEPRECIATION

At 1 January 2016

-

350

-

350

Charge for year

72

506

199

777

At 31 December 2016

72

856

199

1,127

NET BOOK VALUE

At 31 December 2016

643

1,674

798

3,115

At 31 December 2015

-

1,266

-

1,266

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

8,330

800

Other debtors

20,466

2,691

28,796

3,491

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade creditors

13,534

2,946

Other creditors

13,565

8,210

27,099

11,156

8.	PROVISIONS FOR LIABILITIES

31.12.16

31.12.15

£

£

Deferred tax

623

253

Deferred

tax

£

Balance at 1 January 2016

253

Provided during year

370

Balance at 31 December 2016

623

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.16

31.12.15

value:

£

£

853,400

Ordinary A

0.00001

9

9

112,274

Investment B

0.00001

1

1

90,912

Ordinary A

0.00001

1

1

11

11

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company owed G Dye, director, £2,250 as at 31st December 2016 (2015: £2,250).

The company owed M Brown, director, £3,700 as at 31st December 2016 (2015: £3,700).

11.	RELATED PARTY DISCLOSURES

During the year there were no related party transactions (2015: none).

12.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

13.	FIRST YEAR ADOPTION

Transitional relief

These are the first financial statements that comply with FRS 102 (Section 1A). The company transitioned to

FRS 102 (Section 1A) on 1st January 2015.

No transitional adjustments were required in equity or profit or loss for the year.