Company Registration No. 04196089 (England and Wales)
HALLAMSHIRE BREWERY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
HALLAMSHIRE BREWERY SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
HALLAMSHIRE BREWERY SERVICES LIMITED
BALANCE SHEET
AS AT 31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
35,050
23,108
Current assets
Stocks
174,489
185,047
Debtors
4
679,770
877,305
Cash at bank and in hand
73,830
40,863
928,089
1,103,215
Creditors: amounts falling due within one year
5
(279,880)
(282,437)
Net current assets
648,209
820,778
Total assets less current liabilities
683,259
843,886
Creditors: amounts falling due after more than one year
6
(11,080)
-
Provisions for liabilities
(6,700)
(4,400)
Net assets
665,479
839,486
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
665,379
839,386
Total equity
665,479
839,486
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
HALLAMSHIRE BREWERY SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2020
31 March 2020
- 2 -
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 13 May 2020
D P Dixon
Director
Company Registration No. 04196089
HALLAMSHIRE BREWERY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information
Hallamshire Brewery Services Limited is a
private
company
, limited by shares
and
incorporated in England and Wales.
The registered office is
Liverpool Street, Sheffield, South Yorkshire, S9 2PU.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% straight line
Motor vehicles
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
HALLAMSHIRE BREWERY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair
value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 31 (2019 - 31).
HALLAMSHIRE BREWERY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2019
68,174
Additions
26,610
Disposals
(18,450)
At 31 March 2020
76,334
Depreciation and impairment
At 1 April 2019
45,066
Depreciation charged in the year
14,284
Eliminated in respect of disposals
(18,066)
At 31 March 2020
41,284
Carrying amount
At 31 March 2020
35,050
At 31 March 2019
23,108
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Trade debtors
382,330
427,191
Amounts owed by group undertakings
261,606
446,403
Other debtors
435
425
Prepayments and accrued income
35,399
3,286
679,770
877,305
5
Creditors: amounts falling due within one year
2020
2019
Notes
£
£
Obligations under finance leases
6,997
-
Trade creditors
92,318
141,864
Corporation tax
15,722
53,200
Other taxation and social security
40,690
53,467
Other creditors
116,429
26,982
Accruals and deferred income
7,724
6,924
279,880
282,437
HALLAMSHIRE BREWERY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 6 -
6
Creditors: amounts falling due after more than one year
2020
2019
£
£
Other creditors
11,080
-
7
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2020
2019
£
£
192,508
288,315
9
Related party transactions
Included within amounts due from fellow group companies is a balance of £261,606 (2019: £446,403) due from DPD Dispense Limited, the parent company.
Dividends totalling £250,000 (2019: £300,000) were paid in the year in to the parent company.
10
Parent company
The parent company is DPD Dispense Limited, a company incorporated in England and Wales.
The ultimate controlling party is D P Dixon by virtue of his shareholding in DPD Dispense Limited.