Fierce Beer Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC501206 (Scotland)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Fierce Beer Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Grant

D C McHardy

SECRETARY:

D Grant

REGISTERED OFFICE:

175 Great Western Road

Aberdeen

AB10 6PS

REGISTERED NUMBER:

SC501206 (Scotland)

ACCOUNTANTS:

AM Corporate Finance Limited

23 Martin Drive

Stonehaven

Aberdeenshire

AB39 2LF

FIXED ASSETS

Tangible assets

4

150,130

3,809

CURRENT ASSETS

Stocks

25,616

2,091

Debtors

108,499

64,761

Cash at bank

15,494

115,183

149,609

182,035

CREDITORS

Amounts falling due within one year

249,223

88,385

NET CURRENT (LIABILITIES)/ASSETS

(99,614

)

93,650

TOTAL ASSETS LESS CURRENT LIABILITIES

50,516

97,459

CREDITORS

Amounts falling due after more than one year

108,667

52,000

NET (LIABILITIES)/ASSETS

(58,151

)

45,459

CAPITAL AND RESERVES

Called up share capital

200

200

Share premium

80,910

80,910

Retained earnings

(139,261

)

(35,651

)

SHAREHOLDERS' FUNDS

(58,151

)

45,459

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2017 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 on 22 August 2017 and were signed on its behalf by:

D Grant - Director

D C McHardy - Director

1.	STATUTORY INFORMATION

Fierce Beer 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

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 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 the cost less

estimated residual value of each asset over its estimated useful life.

Improvements to property - 33%

Plant and machinery - 10% - 20%

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

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.

Going concern

The directors have assessed, based on current projections, that the company has adequate

resources to meet the ongoing costs of the business for a minimum of 12 months from the

date of signing that financial statements This is also based on the assurances received from

the directors that it is their intention to provide such assistance as is required to enable the

company to meet its financial commitments. For these reasons the financial statements

have been prepared on a going concern basis which presumes the realisation of assets and

liabilities in the normal course of business. If the company were unable to continue to trade,

adjustments would have to be made to reduce the value of the assets to their recoverable

amount and to provide for any further liabilities that might arise.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

4,761

Additions

166,354

At 31 March 2017

171,115

DEPRECIATION

At 1 April 2016

952

Charge for year

20,033

At 31 March 2017

20,985

NET BOOK VALUE

At 31 March 2017

150,130

At 31 March 2016

3,809