HEAVITREE BREWERY

 

Heavitree Brewery Devon is an independent, family owned business based in the South West of England. The estate has a large section of pubs from community locals to award winning, but all are warm, friendly and inviting, operating with fine ales and quality food (No Author 2012).

The brevery is situated in the heart of the village of Bishopsteignton, between the Seaside town of Teignmouth and the market town of Newton Abbot. Due to health reasons this lovely village community local with food has become a vacancy (No Author 2012).

 The story of The Heavitree Brewery PLC begins in 1790. The Company was known as the "Heavitree Family Brewery" as founded by John Wolland in Church Street and stopped its brewing operations completely in May 1970 (No Author 2012).

On 17th December 1981 after listed as a Public Company, is  became The Heavitree Brewery PLC and  proud to have remained a Family business.

The Company's principal activities comprise the lease and operation of public houses in the South West of England. Heavitree Inns Limited is a wholly-owned subsidiary company operating managed houses within the estate (No Author 2012).

The Company's issued share capital comprises 1,994,699 ordinary shares of 5p each which carry one vote for every £1 in nominal amount and 3,282,478 'A' limited voting ordinary shares of 5p each which carry one vote for every £10 in nominal amount. All of the shares are fully-paid. No shares are held as treasury shares. There are no restrictions on the transfer of the Company's shares (No Author 2012).

Consequently, the total number of voting rights in the Company is 116,146 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in  the Company (No Author 2012).

 On the most recent annual report (2010),  turnover has dropped considerably against the previous year but this is as a direct result of the cessation in turnover from retail sales in 2009.

Turnover for the Group decreased against last year by 19.78% to £7,388,000 (2009: £9,210,000) but generated an increased Group Operating Profit of £1,427,000 (2009: £1,046,000) after consolidation adjustments.

Heavitree Inc. generated an Operating Loss of £15,000 (2009: Loss of £13,000) (No Author 2012).

Group Profit before Taxation decreased by £28,000 (2.23%) to £1,225,000. However, it should be remembered that last year‘s figure included both a profit of £781,000 on the disposal of assets (2010: £32,000) as well as costs of £370,000 arising from the restructure and refinancing of the Group (No Author 2012).

 Adjusted Operating Profit before Taxation of £1,427,000 was £102,000 (7.7%) ahead of last year. Interest Costs were covered 13.46 times.

On July 2011, revenue has recovered well after the adverse effects of the particularly harsh weather conditions which were felt during the Christmas and New Year trading period and the Company has enjoyed a steady performance for the first six months of the current trading year.
The Group operating profit is £558,000 (2010 - £583,000) with turnover showing a small drop of £18,000 against the previous year (No Author 2012).

BIBLIOGRAPHY

BOOKS


Guilding C. (2009) Accounting Essential, for Hospitality Managers, 2nd Ed. Oxford, Elsevier.

Wood F. Sangster (2002) Business Accounting Harlow UK , Pearson Education Ltd.

WEB SITE

Becky, P. (2009) Public demand beer tax freeze as pub closure lose treasury £242m,[online] Available at: http://www.bighospitality.co.uk/?page=articles&ID=203263,Accessed on 25th May 2012

Gray (2011) Leasehold: The Anchor Inn, Devon, [online] Available at:http://www.caterersearch.com/Articles/18/03/2011/337483/leasehold-the-anchor-inn-devon.htm , Accessed on 24th April 2012.

 Insermedia (2012) Sale down at Heavitree brewery.[online] Available at: http://www.insidermedia.com/insider/south-west/66525-sales-down-heavitree-brewery/. Accessed on 25th February 2012.

 London stockexchange (2012) [online] Available at: http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary.html?fourWayKey=GB0004182506GBGBXAIMAv Accessed on 16th February.

Moneyam (2012) Heavitree brewery PLC share price [online],  Available at: http://www.moneyam.com/shareprice/HVT. Accessed on 27th February 2012.

Morningstar (2012) Heavitree Brewery plc performance [online] Available at: http://tools.morningstar.co.uk/uk/stockreport/default.aspx?tab=1&SecurityToken=0P0000C8GK]3]0]E0WWE$$ALL&Id=0P0000C8GK&ClientFund=0&CurrencyId=GBP Accessed on 1st March 2012.

No Author (2012) The Heavitree brewery,[online]Available at: http://www.heavitreebrewery.co.uk/. Accessed on 5th February 2012.

Reuters (2010) The Heavitree brewery PLC reccomend Interim dividend  [online] Available at: http://www.reuters.com/finance/stocks/HVT.L/key-developments . Accessed on 25th May 2012.

Stockopedia ( 2012) Heavitree brewery (HTV) Profile information.[online] Available at: http://www.stockopedia.co.uk/share-prices/heavitree-brewery-LON:HVT/ Accessed on 14th March2012/


The Telegraph (2012) Heavitree brewery latest share price.[online] Available at:http://shares.telegraph.co.uk/quote/?epic=HVT . Accessed on 11th March 2012