REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
FOR |
IRONSTONE BREWERY LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
FOR |
IRONSTONE BREWERY LTD |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
IRONSTONE BREWERY LTD |
COMPANY INFORMATION |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Atlas Chambers |
33 West Street |
Brighton |
East Sussex |
BN1 2RE |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
BALANCE SHEET |
25 JUNE 2023 |
2023 | 2022 |
as restated |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
BALANCE SHEET - continued |
25 JUNE 2023 |
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 and authorised for issue on |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
1. | STATUTORY INFORMATION |
Ironstone Brewery Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Ironstone Brewery Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
Motor Vehicles - Straight line over 5 years |
Plant and machinery - 25% on reducing balance |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and |
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of |
operating as intended. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
The investments are subsequently measured at fair value and any impairment charges are recognised within the income statement. |
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. |
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. |
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 or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability. |
Going concern |
After reviewing the company's forecasts, the directors confirm that they will continue to fund the company with adequate resources to continue into the foreseeable future and therefore, the company continues to adopt the going concern basis in preparing its financial statements. |
3. | EMPLOYEES |
The average number of employees during the period was |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 27 June 2022 |
Additions |
At 25 June 2023 |
DEPRECIATION |
At 27 June 2022 |
Charge for period |
At 25 June 2023 |
NET BOOK VALUE |
At 25 June 2023 |
At 26 June 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£ |
COST |
At 27 June 2022 |
and 25 June 2023 |
NET BOOK VALUE |
At 25 June 2023 |
At 26 June 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
as restated |
£ | £ |
Hire purchase contracts (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments under hire purchase fall due as follows: |
2023 | 2022 |
as restated |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | as restated |
£ | £ |
A Ordinary | 0.00001p | 1 | 1 |
B Ordinary | 0.00001p | 2 | 2 |
C Ordinary | 0.00001p | 3 | 3 |
6 | 6 |
11. | PENSION COMMITMENTS |
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 £507 (2022: £970). Contributions totalling £1,601 (2022: £168) were payable to the fund at the balance sheet date and are included in creditors. |
12. | CONTINGENT LIABILITIES |
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 £48,305 (2022: £36,655). |
13. | RELATED PARTY DISCLOSURES |
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. |
IRONSTONE BREWERY LTD (REGISTERED NUMBER: 10293693) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 27 JUNE 2022 TO 25 JUNE 2023 |
13. | RELATED PARTY DISCLOSURES - continued |
Companies under common control |
Amount due from |
Amount due to |
£ | £ |
Opening balance | - | 1,000 |
Amounts advanced | 117 | 100,473 |
Amounts repaid | (117 | (92,724 | ) |
Closing balance | - | 8,749 |
These balances are included in debtors and creditors respectively. |