Registration number:
Brewlab Limited
for the Year Ended 31 July 2019
Ye Olde Hundred
69 Church Way
North Shields
NE29 0AE
Brewlab Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Brewlab Limited
Company Information
Director |
K Thomas |
Company secretary |
K Thomas |
Registered office |
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Accountants |
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Page 1 |
Brewlab Limited
(Registration number: 03297769)
Balance Sheet as at 31 July 2019
Note |
2019 |
2018 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 July 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject o the small companies’ regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Page 2 |
Brewlab Limited
(Registration number: 03297769)
Balance Sheet as at 31 July 2019
.........................................
K Thomas
Company secretary and director
Page 3 |
Brewlab Limited
Notes to the Financial Statements for the Year Ended 31 July 2019
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The company registered number is: 03297769
The address of its registered office is:
England
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with the provisions of FRS 102 Section 1A - small entities applicable in the UK and Republic of Ireland. There were no material departures from that standard.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Basis of preparation
These financial statements were prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Land and buildings |
25% straight line |
Page 4 |
Brewlab Limited
Notes to the Financial Statements for the Year Ended 31 July 2019
Furniture, fittings and equipment |
15% - 50% reducing balance |
Motor vehicles |
25% straight line |
Research and development costs
Expenditure on research is written off against profits in the year in which it is incurred. Development expenditure is capitalised and amortised over its useful life.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
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Brewlab Limited
Notes to the Financial Statements for the Year Ended 31 July 2019
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 August 2018 |
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Additions |
- |
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- |
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Disposals |
- |
( |
- |
( |
At 31 July 2019 |
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Depreciation |
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At 1 August 2018 |
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Charge for the year |
- |
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- |
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Eliminated on disposal |
- |
( |
- |
( |
At 31 July 2019 |
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Carrying amount |
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At 31 July 2019 |
- |
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- |
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At 31 July 2018 |
- |
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- |
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Stocks |
2019 |
2018 |
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Other inventories |
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Debtors |
2019 |
2018 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Brewlab Limited
Notes to the Financial Statements for the Year Ended 31 July 2019
2019 |
2018 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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- |
Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2019 |
2018 |
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No. |
£ |
No. |
£ |
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9 |
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9 |
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3 |
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3 |
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Page 7 |