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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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Big Drop Brewing Company Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 July 2017 |
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for |
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Big Drop Brewing Company Limited |
Big Drop Brewing Company Limited (Registered number: 10305828) |
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Contents of the Financial Statements |
for the Year Ended 31 July 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Big Drop Brewing Company Limited |
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Company Information |
for the Year Ended 31 July 2017 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
5a Frascati Way |
Maidenhead |
Berkshire |
SL6 4UY |
Big Drop Brewing Company Limited (Registered number: 10305828) |
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Balance Sheet |
31 July 2017 |
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Notes | £ |
CURRENT ASSETS |
Stocks |
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Debtors | 3 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 4 | ( |
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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 | 5 |
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Share premium |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Big Drop Brewing Company Limited (Registered number: 10305828) |
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Balance Sheet - continued |
31 July 2017 |
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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 director on
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Big Drop Brewing Company Limited (Registered number: 10305828) |
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Notes to the Financial Statements |
for the Year Ended 31 July 2017 |
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1. | STATUTORY INFORMATION |
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Big Drop Brewing Company Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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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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The accounts are prepared on a going concern basis as in the opinion of the directors the company |
has sufficient finance available to it to meet its obligations as they fall due for the foreseeable |
future, that is at least 12 months from the date of approval of the accounts. |
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Significant judgements and estimates |
In the application of the company's accounting policies the directors are required to make |
judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are |
not readily apparent from other sources. The estimates and associated assumptions are based on |
historical experience and other factors that are considered to be relevant. Actual results may differ |
from these estimates. |
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The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to |
accounting estimates are recognised in the period in which the estimate is revised if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects |
both current and future periods. |
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The company does not make significant estimates and assumptions concerning the future. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding |
discounts, rebates, value added tax and other sales taxes. |
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Income is recognised once title of goods has been transferred to the customer. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
Big Drop Brewing Company Limited (Registered number: 10305828) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Basic financial instruments are recognised at amortised cost using the effective interest method, |
except for investments in non-convertible preference and non-puttable preference and ordinary |
shares, which are measured at fair value, with changes recognised in profit or loss. Derivative |
financial instruments are initially recorded at cost and therefore at fair value, with changes |
recognised in profit and loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed |
at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling |
at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate |
of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving |
at the operating result. |
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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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3. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
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Other debtors |
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Big Drop Brewing Company Limited (Registered number: 10305828) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 July 2017 |
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4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
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Trade creditors |
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Other creditors |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £1 | 11,111 |
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the year. |
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The Ordinary shares each carry an entitlement to vote, dividends and returns of capital. |
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6. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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