REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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IRONSTONE BREWERY LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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FOR |
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IRONSTONE BREWERY LTD |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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IRONSTONE BREWERY LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Atlas Chambers |
33 West Street |
Brighton |
East Sussex |
BN1 2RE |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
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BALANCE SHEET |
28 JUNE 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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1. | STATUTORY INFORMATION |
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Ironstone Brewery Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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The investments are subsequently measured at fair value and any impairment charges are recognised within the income statement. |
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Financial instruments |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
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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. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Going concern |
After reviewing the company's forecasts, the directors believe that the company has adequate resources to |
continue in operational existence. |
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The directors do not anticipate that the recent COVID-19 outbreak will affect the company's ability to continue for the foreseeable future and therefore the company continues to adopt the going concern basis in preparing its financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 July 2019 |
and 28 June 2020 |
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NET BOOK VALUE |
At 28 June 2020 |
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At 30 June 2019 |
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IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Amounts owed by group undertakings |
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Amounts owed by associates |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Amounts owed to associates | - | 1,032 |
Taxation and social security |
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Other creditors |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary A | 0.00001 | - | 1 |
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Ordinary B | 0.00001 | 2 | 2 |
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Ordinary C | 0.00001 | 3 | 1 |
5 | 4 |
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95,331 Ordinary C shares of 0.00001 each were allotted as fully paid
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8. | PENSION COMMITMENTS |
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The business operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the business in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £144 (2019: £414). Contributions totalling £752 (2019: £420) were payable to the fund at the balance sheet date and are included in creditors. |
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9. | CONTINGENT LIABILITIES |
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The company belongs to a VAT group whereby each member is jointly and severally liable for the VAT due |
from the representative member during their periods of membership of the group. If the representative member is unable to meet a VAT debt due from the group, the company and associated members, will be held liable for the VAT due. As at the balance sheet date the company had a maximum contingent VAT liability for group members of £12,586 (2019: £24,547). |
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10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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A loan of £1,100 was made during the year to J C Mower, a director. At the balance sheet date the company was owed £183 (2019: £nil). The loan was interest free and repayable on demand. |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JULY 2019 TO 28 JUNE 2020 |
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11. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Companies under common control |
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Amounts
due to |
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Opening balance | - |
Amounts advanced | 3,032 |
Amounts repaid | - |
Closing balance | 3,032 |
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These balances are included in creditors. |