11
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-11-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
05252634
2020-11-01
2021-10-31
05252634
2021-10-31
05252634
2020-10-31
05252634
2019-11-01
2020-10-31
05252634
2020-10-31
05252634
core:LandBuildings
core:LongLeaseholdAssets
2020-11-01
2021-10-31
05252634
core:PlantMachinery
2020-11-01
2021-10-31
05252634
core:FurnitureFittings
2020-11-01
2021-10-31
05252634
core:MotorVehicles
2020-11-01
2021-10-31
05252634
bus:Director1
2020-11-01
2021-10-31
05252634
bus:Director2
2020-11-01
2021-10-31
05252634
bus:Director5
2020-11-01
2021-10-31
05252634
core:LandBuildings
2020-10-31
05252634
core:PlantMachinery
2020-10-31
05252634
core:FurnitureFittings
2020-10-31
05252634
core:MotorVehicles
2020-10-31
05252634
core:LandBuildings
2021-10-31
05252634
core:PlantMachinery
2021-10-31
05252634
core:FurnitureFittings
2021-10-31
05252634
core:MotorVehicles
2021-10-31
05252634
core:WithinOneYear
2021-10-31
05252634
core:WithinOneYear
2020-10-31
05252634
core:AfterOneYear
2021-10-31
05252634
core:AfterOneYear
2020-10-31
05252634
core:ShareCapital
2021-10-31
05252634
core:ShareCapital
2020-10-31
05252634
core:SharePremium
2021-10-31
05252634
core:SharePremium
2020-10-31
05252634
core:RetainedEarningsAccumulatedLosses
2021-10-31
05252634
core:RetainedEarningsAccumulatedLosses
2020-10-31
05252634
core:BetweenOneFiveYears
2021-10-31
05252634
core:BetweenOneFiveYears
2020-10-31
05252634
core:MoreThanFiveYears
2021-10-31
05252634
core:MoreThanFiveYears
2020-10-31
05252634
core:LandBuildings
2020-11-01
2021-10-31
05252634
core:LandBuildings
2020-10-31
05252634
core:PlantMachinery
2020-10-31
05252634
core:FurnitureFittings
2020-10-31
05252634
core:MotorVehicles
2020-10-31
05252634
bus:SmallEntities
2020-11-01
2021-10-31
05252634
bus:AuditExemptWithAccountantsReport
2020-11-01
2021-10-31
05252634
bus:FullAccounts
2020-11-01
2021-10-31
05252634
bus:SmallCompaniesRegimeForAccounts
2020-11-01
2021-10-31
05252634
bus:PrivateLimitedCompanyLtd
2020-11-01
2021-10-31
COMPANY REGISTRATION NUMBER:
05252634
PHIPPS NORTHAMPTON BREWERY COMPANY LIMITED
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
PHIPPS NORTHAMPTON BREWERY COMPANY LIMITED
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 October 2021
Fixed assets
Tangible assets
|
5
|
|
163,056
|
192,060
|
|
|
|
|
|
Current assets
Stocks
|
63,169
|
|
21,941
|
Debtors
|
6
|
49,050
|
|
41,343
|
Cash at bank and in hand
|
19,094
|
|
62,552
|
|
---------
|
|
---------
|
|
131,313
|
|
125,836
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
57,211
|
|
58,155
|
|
---------
|
|
---------
|
Net current assets
|
|
74,102
|
67,681
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
237,158
|
259,741
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
|
23,453
|
57,188
|
|
|
---------
|
---------
|
Net assets
|
|
213,705
|
202,553
|
|
|
---------
|
---------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
100
|
100
|
Share premium account
|
10
|
|
357,181
|
357,181
|
Profit and loss account
|
10
|
|
(
143,576)
|
(
154,728)
|
|
|
---------
|
---------
|
Shareholders funds
|
|
213,705
|
202,553
|
|
|
---------
|
---------
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2021 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
.
PHIPPS NORTHAMPTON BREWERY COMPANY LIMITED
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 October 2021
These financial statements were approved by the
board of directors
and authorised for issue on
9 May 2022
, and are signed on behalf of the board by:
Mr Q J Neville
|
Mr A J Neville
|
Director
|
Director
|
|
|
Company registration number:
05252634
PHIPPS NORTHAMPTON BREWERY COMPANY LIMITED
|
|
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2021
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is The Albion Brewery, 54 Kingswell Street, Northampton, NN1 1PR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The COVID19 outbreak has resulted in material levels of uncertainty for the business. The directors have considered their customer base and demand for their products and believe that whilst the pandemic continues they can continue to utilise their retail customer base to ensure that they are well placed to continue to sustain the business. The company has taken advantage of support made available during this time, including taking up the Government backed bounce back loan, in addition to CJRS grants and the various other local support grants provided to enable the business to continue to trade and have sufficient cash resources to cover their debts. On that basis they continue to prepare the accounts on a going concern basis.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year and takings achieved through the bar and outside events , all excluding VAT and discounts.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold Property Improvements
|
-
|
10% straight line
|
|
Plant and Machinery
|
-
|
6% straight line
|
|
Fixtures and Fittings
|
-
|
20% straight line
|
|
Motor Vehicles
|
-
|
20% straight line
|
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2020:
11
).
5.
Tangible assets
|
Leasehold property improvements
|
Plant and machinery
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
At 1 November 2020 and 31 October 2021
|
144,006
|
206,243
|
9,525
|
7,937
|
367,711
|
|
---------
|
---------
|
-------
|
-------
|
---------
|
Depreciation
|
|
|
|
|
|
At 1 November 2020
|
79,283
|
81,875
|
9,037
|
5,456
|
175,651
|
Charge for the year
|
14,153
|
13,746
|
175
|
930
|
29,004
|
|
---------
|
---------
|
-------
|
-------
|
---------
|
At 31 October 2021
|
93,436
|
95,621
|
9,212
|
6,386
|
204,655
|
|
---------
|
---------
|
-------
|
-------
|
---------
|
Carrying amount
|
|
|
|
|
|
At 31 October 2021
|
50,570
|
110,622
|
313
|
1,551
|
163,056
|
|
---------
|
---------
|
-------
|
-------
|
---------
|
At 31 October 2020
|
64,723
|
124,368
|
488
|
2,481
|
192,060
|
|
---------
|
---------
|
-------
|
-------
|
---------
|
|
|
|
|
|
|
6.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
42,768
|
34,306
|
Other debtors
|
6,282
|
7,037
|
|
--------
|
--------
|
|
49,050
|
41,343
|
|
--------
|
--------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
4,000
|
833
|
Trade creditors
|
8,952
|
17,009
|
Social security and other taxes
|
22,962
|
16,678
|
Other creditors
|
21,297
|
23,635
|
|
--------
|
--------
|
|
57,211
|
58,155
|
|
--------
|
--------
|
|
|
|
The bank loan due for repayment is an unsecured bounce back loan. There are no repayments or interest charged in the first 12 months and then it is repayable by installment over 5 years with interest charged at 2.5%.
8.
Creditors:
amounts falling due after more than one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
15,667
|
49,167
|
Other creditors
|
7,786
|
8,021
|
|
--------
|
--------
|
|
23,453
|
57,188
|
|
--------
|
--------
|
|
|
|
9.
Government grants
The amounts recognised in the financial statements for government grants are as follows:
Recognised in other operating income:
Government grants recognised directly in income
|
44,958
|
72,410
|
Government grants released to profit or loss
|
3,037
|
3,037
|
|
--------
|
--------
|
|
47,995
|
75,447
|
|
--------
|
--------
|
|
|
|
10.
Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.
11.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2021
|
2020
|
|
£
|
£
|
Not later than 1 year
|
25,000
|
26,750
|
Later than 1 year and not later than 5 years
|
100,000
|
128,000
|
Later than 5 years
|
57,569
|
107,689
|
|
---------
|
---------
|
|
182,569
|
262,439
|
|
---------
|
---------
|
|
|
|