Long Man Brewery Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 07653948

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2017

FOR

LONG MAN BREWERY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Ellis

S C Lees

REGISTERED OFFICE:

Church Farm

Litlington

East Sussex

BN26 5RA

REGISTERED NUMBER:

07653948

ACCOUNTANTS:

Oreka Accounting LLP

14 The Fridays

Gilbert's Drive

East Dean

East Sussex

BN20 0DH

FIXED ASSETS

Tangible assets

4

130,332

150,224

CURRENT ASSETS

Stocks

86,774

88,900

Debtors

5

234,899

232,432

Cash at bank and in hand

60,798

39,961

382,471

361,293

CREDITORS

Amounts falling due within one year

6

247,805

256,026

NET CURRENT ASSETS

134,666

105,267

TOTAL ASSETS LESS CURRENT LIABILITIES

264,998

255,491

CREDITORS

Amounts falling due after more than one year

7

(9,341

)

(15,127

)

PROVISIONS FOR LIABILITIES

(15,984

)

(17,785

)

NET ASSETS

239,673

222,579

CAPITAL AND RESERVES

Called up share capital

8

444

436

Retained earnings

9

239,229

222,143

SHAREHOLDERS' FUNDS

239,673

222,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24 August 2017 and were signed on its behalf by:

D Ellis - Director

1.	STATUTORY INFORMATION

Long Man Brewery Limited is a private company, limited by shares , registered in Not

specified/Other. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the value of goods, net of VAT, provided to customers during the year,

plus the value of work, net of VAT, completed during the year with respect to services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 7 years

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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 15 (2016 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2016

78,234

284,809

19,662

3,656

386,361

Additions

-

24,837

-

1,027

25,864

Disposals

-

-

(417

)

-

(417

)

At 30 April 2017

78,234

309,646

19,245

4,683

411,808

DEPRECIATION

At 1 May 2016

58,192

166,272

10,032

1,641

236,137

Charge for year

11,069

31,436

2,378

760

45,643

Eliminated on disposal

-

-

(304

)

-

(304

)

At 30 April 2017

69,261

197,708

12,106

2,401

281,476

NET BOOK VALUE

At 30 April 2017

8,973

111,938

7,139

2,282

130,332

At 30 April 2016

20,042

118,537

9,630

2,015

150,224

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 May 2016

and 30 April 2017

17,514

9,300

26,814

DEPRECIATION

At 1 May 2016

4,379

5,377

9,756

Charge for year

3,284

980

4,264

At 30 April 2017

7,663

6,357

14,020

NET BOOK VALUE

At 30 April 2017

9,851

2,943

12,794

At 30 April 2016

13,135

3,923

17,058

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

224,263

231,571

Other debtors

4,980

861

Prepayments and accrued income

5,656

-

234,899

232,432

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

4,665

8,068

Trade creditors

61,106

44,788

Tax

18,263

22,372

Social security and other taxes

5,470

5,695

VAT

58,706

65,600

Other creditors

55,853

39,798

Directors' current accounts

39,600

65,600

Accrued expenses

4,142

4,105

247,805

256,026

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

9,341

15,127

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary 'A'

£1

100

100

100

Ordinary 'B'

£1

100

100

100

Ordinary 'C'

£1

100

100

100

Ordinary 'D'

£1

100

100

44

Ordinary 'E'

£1

44

36

444

436

The following shares were issued during the year for cash at par :

8 Ordinary 'E' shares of £1

9.

RESERVES

Retained

earnings

£

At 1 May 2016

222,143

Profit for the year

26,786

Dividends

(9,700

)

At 30 April 2017

239,229

10.	RELATED PARTY DISCLOSURES

At the balance sheet date, the Company owed £14,800 (2016 : £32,800) to D Ellis and

£24,800 (2016: £32,800) to S C Lees, both of which are directors of the Company.

These balances are interest free and repayable on demand.

11.	FIRST-TIME ADOPTION OF FRS 102

The company has adopted FRS 102 for the first time in the year ended 30 April 2017.

There is no effect on the comparative figures on transition from previous financial reporting

framework (Financial Reporting Standard for Smaller Entities 2015) to FRS 102.