The Cotswold Brewing Company Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 05252279 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

FOR

THE COTSWOLD BREWING COMPANY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

Mr R Keene

Mrs E Keene

SECRETARY:

Mrs E Keene

REGISTERED OFFICE:

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

REGISTERED NUMBER:

05252279 (England and Wales)

ACCOUNTANTS:

Bronsens

Chartered Certified Accountants

Hillside

Albion Street

Chipping Norton

Oxfordshire

OX7 5BH

FIXED ASSETS

Tangible assets

2

178,542

175,369

CURRENT ASSETS

Stocks

81,609

61,728

Debtors

129,195

51,079

Cash at bank and in hand

104

809

210,908

113,616

CREDITORS

Amounts falling due within one year

3

142,641

91,799

NET CURRENT ASSETS

68,267

21,817

TOTAL ASSETS LESS CURRENT LIABILITIES

246,809

197,186

CREDITORS

Amounts falling due after more than one year

3

184,069

161,106

NET ASSETS

62,740

36,080

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

62,640

35,980

SHAREHOLDERS' FUNDS

62,740

36,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 15 September 2014 and were signed on its behalf by:

Mr R Keene - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on reducing balance and at varying rates on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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.

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. Those held under finance leases

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.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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 the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

277,451

Additions

31,277

At 31 March 2014

308,728

DEPRECIATION

At 1 April 2013

102,082

Charge for year

28,104

At 31 March 2014

130,186

NET BOOK VALUE

At 31 March 2014

178,542

At 31 March 2013

175,369

3.

CREDITORS

Creditors include an amount of £ 961 (31.3.13 - £ 6,602 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.14

31.3.13

value:

£

£

100

Ordinary

£1

100

100