REGISTERED NUMBER: 00641227 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
B.E.ENTERPRISES LIMITED |
REGISTERED NUMBER: 00641227 (England and Wales) |
GROUP STRATEGIC REPORT, REPORT OF THE DIRECTORS AND |
CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
B.E.ENTERPRISES LIMITED |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Page |
Company Information | 1 |
Group Strategic Report | 2 |
Report of the Directors | 4 |
Statement of Directors' Responsibilities | 5 |
Report of the Independent Auditors | 6 |
Consolidated Income Statement | 10 |
Consolidated Other Comprehensive Income | 11 |
Consolidated Statement of Financial Position | 12 |
Company Statement of Financial Position | 14 |
Consolidated Statement of Changes in Equity | 16 |
Company Statement of Changes in Equity | 17 |
Consolidated Statement of Cash Flows | 18 |
Notes to the Consolidated Statement of Cash Flows | 19 |
Notes to the Consolidated Financial Statements | 21 |
B.E.ENTERPRISES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Certified Accountants |
368 Forest Road |
London |
E17 5JF |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
The directors present their strategic report of the Company and the Group for the year ended 31 December 2022. |
REVIEW OF BUSINESS |
The principal activity of the group during the year has been to own and manage garden centres and nurseries. |
The group operated in line with expectations. Consolidated sales, gross profit and profit before tax decreased by £564,060, £540,537 and £1,005,882 respectively in 2022 reflecting the continued demand for the Group's products and services. Both the level of business and the year end financial position were satisfactory and the directors expect that the general level of activity will be sustained for the foreseeable future. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The Group faces a number of risks and uncertainties and the Directors believe that the key business risks are summarised below. In view of these risks and uncertainties, the Directors are aware that the development of the Group may be affected by factors outside their control. |
Competitive risks |
Trading is influenced by the macroeconomic environment in the UK. Demand is sensitive to economic conditions generally including economic growth, interest rate movements, inflation, unemployment and demographic trends. The Group faces competition in its business from a variety of sources including large retail chains as well as small family owned garden centres. The Group has historically developed its business by means of organic growth and new development. If a competitor develops a similar outlet in the vicinity of the Groups existing branches, this may have an impact on footfall and the potential revenue generation at that branch. The Directors are confident that the positioning of the brand and offering, the quality of premises, plus the demographics of the population, will protect future income streams for the Group. |
Financial risk management |
The Group has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The Group trades with foreign suppliers and is therefore exposed to currency fluctuations. The situation is regularly reviewed by the Directors so that they can take appropriate action. The Group does not enter into any formally designated hedging arrangements. The Group continues to be financed from the sources shown within the financial statements including third party lenders and continues to be required to meet their ongoing lending requirements, in the normal way. The Group does not use financial instruments to hedge against interest rate risks. |
Weather risk |
One of the Group's principal risks is the weather. Adverse weather can impact on footfall and sales of certain product lines at key trading times of the year. The Group diversifies its product offering to mitigate and spread this risk as far as it is able. |
Supply chain risk |
The Group maintains strong, long standing relationships with its key suppliers. The Directors regularly review trading terms and monitor alternative supply options. |
National wage legislation |
The Group has a substantial number of employees and payroll costs is one of the Group's largest overheads. The Directors monitor staffing levels in line with other factors such as the weather and expected footfall and adjust staff numbers accordingly. |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
GROUP STRATEGIC REPORT |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
ENGAGEMENT WITH EMPLOYEES |
The skill and support from its employees are extremely important to the Group. The directors acknowledge the importance of good communications and employee relations and remain committed to employee involvement and equal opportunity. |
FUTURE DEVELOPMENTS |
The Group continues to benefit from sustained levels of activity in the market and its focus upon maintaining and developing its existing business activities. |
The continued refurbishment and development of the branches and refining the product range remain a key focus of the Directors. |
FINANCIAL KEY PERFORMANCE INDICATORS |
The Group's key financial and other performance indicators during the year were as follows: |
Unit | 2022 | 2021 |
Turnover | £ | 9,110,194 | 9,674,254 |
Gross profit margin | % | 41 | 44 |
Profit before tax | £ | 852,107 | 1,857,990 |
Other performance indicators such as footfall per branch and average spend per customer are monitored closely by the Directors. |
ON BEHALF OF THE BOARD: |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
The directors present their report with the financial statements of the Company and the Group for the year ended 31 December 2022. |
DIVIDENDS |
The total distribution of dividends for the year ended 31 December 2022 will be £ 84,000 . |
RESEARCH AND DEVELOPMENT |
The group does not engage in research and development. |
EVENTS SINCE THE END OF THE YEAR |
Information relating to events since the end of the year is given in the notes to the financial statements. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2022 to the date of this report. |
B G R Evans |
H D Evans |
M T Evans |
B A K Eyre |
Other changes in directors holding office are as follows: |
E J Evans ceased to be a director on 19 July 2022 |
OVERSEAS BRANCHES |
The group has no overseas branches. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the Group's auditors are aware of that information. |
ON BEHALF OF THE BOARD: |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and the Group and of the profit or loss of the Group for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's and the Group's transactions and disclose with reasonable accuracy at any time the financial position of the Company and the Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
B.E.ENTERPRISES LIMITED |
Opinion |
We have audited the financial statements of B.E.Enterprises Limited (the 'Parent Company') and its subsidiaries (the 'Group') for the year ended 31 December 2022 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the Group's and of the Parent Company affairs as at 31 December 2022 and of the Group's profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's and the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
B.E.ENTERPRISES LIMITED |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept by the Parent Company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the Parent Company financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or the Parent Company or to cease operations, or have no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
B.E.ENTERPRISES LIMITED |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
Based on our understanding of the company and the retail sector, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation, pensions legislation, employment and health and safety regulation, anti-bribery, corruption and fraud, regulation regarding professional responsibilities and, money laundering and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. |
We evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition, and significant one-off or unusual transactions. |
Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to: |
- Discussing with the directors and management their policies and procedures regarding compliance with laws and |
regulations; |
- Communicating identified laws and regulations throughout our engagement team and remaining alert to any |
indications of non-compliance throughout our audit; and |
- Considering the risk of acts by the company which were contrary to the applicable laws and regulations, including fraud. |
Our audit procedures in relation to fraud included but were not limited to: |
- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud; |
- Gaining an understanding of the internal controls established to mitigate risks related to fraud; |
- Discussing amongst the engagement team the risks of fraud; and |
- Addressing the risks of fraud through management override of controls by performing journal entry testing. |
The primary responsibility for the prevention and detection of irregularities including fraud rests with management. |
Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
B.E.ENTERPRISES LIMITED |
Use of our report |
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Certified Accountants |
368 Forest Road |
London |
E17 5JF |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED INCOME STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
TURNOVER | 3 | 9,110,194 | 9,674,254 |
Cost of sales | (5,394,801 | ) | (5,418,324 | ) |
GROSS PROFIT | 3,715,393 | 4,255,930 |
Administrative expenses | (3,384,263 | ) | (2,990,875 | ) |
331,130 | 1,265,055 |
Other operating income | 558,120 | 607,318 |
889,250 | 1,872,373 |
Interest receivable and similar income | 34 | 23 |
889,284 | 1,872,396 |
Interest payable and similar expenses | 5 | (37,177 | ) | (14,406 | ) |
PROFIT BEFORE TAXATION | 6 | 852,107 | 1,857,990 |
Tax on profit | 7 | (209,782 | ) | (341,829 | ) |
PROFIT FOR THE FINANCIAL YEAR |
Profit attributable to: |
Owners of the parent | 638,231 | 1,519,132 |
Non-controlling interests | 4,094 | (2,971 | ) |
642,325 | 1,516,161 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED OTHER COMPREHENSIVE INCOME |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
PROFIT FOR THE YEAR | 642,325 | 1,516,161 |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
642,325 |
1,516,161 |
Total comprehensive income attributable to: |
Owners of the parent | 638,231 | 1,519,132 |
Non-controlling interests | 4,094 | (2,971 | ) |
642,325 | 1,516,161 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 | - | - |
Tangible assets | 11 | 5,576,003 | 3,645,891 |
Investments | 12 | - | - |
5,576,003 | 3,645,891 |
CURRENT ASSETS |
Stocks | 13 | 2,888,954 | 2,503,623 |
Debtors | 14 | 133,466 | 107,508 |
Cash at bank and in hand | 245,556 | 838,139 |
3,267,976 | 3,449,270 |
CREDITORS |
Amounts falling due within one year | 15 | 1,722,067 | 1,382,247 |
NET CURRENT ASSETS | 1,545,909 | 2,067,023 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
7,121,912 |
5,712,914 |
CREDITORS |
Amounts falling due after more than one year |
16 |
(907,775 |
) |
(160,000 |
) |
PROVISIONS FOR LIABILITIES | 21 | (297,610 | ) | (194,712 | ) |
NET ASSETS | 5,916,527 | 5,358,202 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 22 | 3,260 | 3,260 |
Share premium | 23 | 400 | 400 |
Other reserves | 23 | 770 | 770 |
Retained earnings | 23 | 5,766,915 | 5,212,684 |
SHAREHOLDERS' FUNDS | 5,771,345 | 5,217,114 |
NON-CONTROLLING INTERESTS | 145,182 | 141,088 |
TOTAL EQUITY | 5,916,527 | 5,358,202 |
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by: |
B G R Evans - Director |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
COMPANY STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 10 |
Tangible assets | 11 |
Investments | 12 |
CURRENT ASSETS |
Stocks | 13 |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
16 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 21 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 22 |
Share premium |
Other reserves |
Retained earnings |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 604,485 | 1,543,616 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
COMPANY STATEMENT OF FINANCIAL POSITION - continued |
31 DECEMBER 2022 |
The financial statements were approved by the Board of Directors and authorised for issue on |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Called up |
share | Retained | Share |
capital | earnings | premium |
£ | £ | £ |
Balance at 1 January 2021 | 3,260 | 3,777,552 | 400 |
Changes in equity |
Dividends | - | (84,000 | ) | - |
Total comprehensive income | - | 1,519,132 | - |
Balance at 31 December 2021 | 3,260 | 5,212,684 | 400 |
Changes in equity |
Dividends | - | (84,000 | ) | - |
Total comprehensive income | - | 638,231 | - |
Balance at 31 December 2022 | 3,260 | 5,766,915 | 400 |
Other | Non-controlling | Total |
reserves | Total | interests | equity |
£ | £ | £ | £ |
Balance at 1 January 2021 | 770 | 3,781,982 | 144,059 | 3,926,041 |
Changes in equity |
Dividends | - | (84,000 | ) | - | (84,000 | ) |
Total comprehensive income | - | 1,519,132 | (2,971 | ) | 1,516,161 |
Balance at 31 December 2021 | 770 | 5,217,114 | 141,088 | 5,358,202 |
Changes in equity |
Dividends | - | (84,000 | ) | - | (84,000 | ) |
Total comprehensive income | - | 638,231 | 4,094 | 642,325 |
Balance at 31 December 2022 | 770 | 5,771,345 | 145,182 | 5,916,527 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
COMPANY STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
Called up |
share | Retained | Share | Other | Total |
capital | earnings | premium | reserves | equity |
£ | £ | £ | £ | £ |
Balance at 1 January 2021 |
Changes in equity |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 31 December 2021 |
Changes in equity |
Dividends | - | ( |
) | - | - | ( |
) |
Total comprehensive income | - | - |
Balance at 31 December 2022 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
CONSOLIDATED STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2022 | 2021 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 787,216 | 1,042,263 |
Interest paid | (33,751 | ) | (11,956 | ) |
Interest element of hire purchase payments paid |
(666 |
) |
(799 |
) |
Finance costs paid | (2,760 | ) | (1,651 | ) |
Tax paid | (232,566 | ) | (381,114 | ) |
Net cash from operating activities | 517,473 | 646,743 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (2,155,318 | ) | (349,153 | ) |
Sale of tangible fixed assets | - | 5,227 |
Interest received | 34 | 23 |
Net cash from investing activities | (2,155,284 | ) | (343,903 | ) |
Cash flows from financing activities |
New loans in year | 1,115,222 | - |
Loan repayments in year | (265,433 | ) | (165,000 | ) |
Capital repayments in year | (7,820 | ) | (9,384 | ) |
Amount introduced by directors | 3,120 | - |
Amount withdrawn by directors | 284,139 | (6,947 | ) |
Equity dividends paid | (84,000 | ) | (84,000 | ) |
Net cash from financing activities | 1,045,228 | (265,331 | ) |
(Decrease)/increase in cash and cash equivalents | (592,583 | ) | 37,509 |
Cash and cash equivalents at beginning of year |
2 |
838,139 |
800,630 |
Cash and cash equivalents at end of year |
2 |
245,556 |
838,139 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
2022 | 2021 |
£ | £ |
Profit before taxation | 852,107 | 1,857,990 |
Depreciation charges | 225,206 | 187,862 |
Profit on disposal of fixed assets | - | (327 | ) |
Government grants | (1,581 | ) | (37,302 | ) |
Finance costs | 37,177 | 14,406 |
Finance income | (34 | ) | (23 | ) |
1,112,875 | 2,022,606 |
Increase in stocks | (385,331 | ) | (1,129,551 | ) |
(Increase)/decrease in trade and other debtors | (25,958 | ) | 53,635 |
Increase in trade and other creditors | 85,630 | 95,573 |
Cash generated from operations | 787,216 | 1,042,263 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts: |
Year ended 31 December 2022 |
31.12.22 | 1.1.22 |
£ | £ |
Cash and cash equivalents | 245,556 | 838,139 |
Year ended 31 December 2021 |
31.12.21 | 1.1.21 |
£ | £ |
Cash and cash equivalents | 838,139 | 800,630 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED STATEMENT OF CASH FLOWS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
3. | ANALYSIS OF CHANGES IN NET FUNDS/(DEBT) |
At 1.1.22 | Cash flow | At 31.12.22 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 838,139 | (592,583 | ) | 245,556 |
838,139 | (592,583 | ) | 245,556 |
Debt |
Finance leases | (7,820 | ) | 7,820 | - |
Debts falling due within 1 year | (165,000 | ) | (100,433 | ) | (265,433 | ) |
Debts falling due after 1 year | (160,000 | ) | (747,775 | ) | (907,775 | ) |
(332,820 | ) | (840,388 | ) | (1,173,208 | ) |
Total | 505,319 | (1,432,971 | ) | (927,652 | ) |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
1. | STATUTORY INFORMATION |
B.E.Enterprises Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
These financial statements consolidate the financial statements of B.E.Enterprises Limited and all of its subsidiary undertakings. |
Subsidiaries |
Subsidiaries are those entities over whose financial and operating policies the Group has the power to exercise control. Control is achieved where the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. The Group Financial Statements incorporate the assets, liabilities and results of operations of the Company and its subsidiaries. The results of subsidiaries acquired and disposed of during a financial year are included from the effective dates of acquisition to the date control ceases. |
Transactions eliminated on consolidation |
Intra-group balances and transactions, and any gains or losses arising from intra-group transactions, are eliminated in preparing the Consolidated Financial Statements. |
Non-controlling interests |
Non controlling interests in the net assets of consolidated subsidiaries are identified separately from the Group equity. Non controlling interests consist of the amount of those interests at the date of the original business combination and the non controlling share of changes in equity since the date of the combination. |
The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the non controlling interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments. |
Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured at the fair value of the consideration received or receivable, excluding, discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised. |
Sale of goods |
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods). |
Goodwill |
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. |
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. |
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows |
Goodwill - 10% straight line |
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Freehold property | - |
Long leasehold | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Government grants |
Government grants which compensate for expenses or losses already incurred or for giving immediate financial support with no future related costs are recognised when received. |
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. |
Government grants are recognised using the accrual model and the performance model. |
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. |
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. |
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
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 statement of financial position date. |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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. |
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. |
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. |
Pension costs and other post-retirement benefits |
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the Group. |
An analysis of turnover by geographical market is given below: |
2022 | 2021 |
£ | £ |
United Kingdom | 9,110,194 | 9,674,254 |
9,110,194 | 9,674,254 |
4. | EMPLOYEES AND DIRECTORS |
2022 | 2021 |
£ | £ |
Wages and salaries | 2,046,275 | 1,696,021 |
Social security costs | 153,135 | 101,257 |
Other pension costs | 33,510 | 26,391 |
2,232,920 | 1,823,669 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
4. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
2022 | 2021 |
Directors | 4 | 4 |
Sales | 99 | 92 |
Administrative | 11 | 11 |
Nursery | 2 | 2 |
2022 | 2021 |
£ | £ |
Directors' remuneration | 172,000 | 102,000 |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2022 | 2021 |
£ | £ |
Bank interest | 33,702 | 11,916 |
Interest on late payments | 49 | 40 |
Hire purchase | 666 | 799 |
Other finance charges | 2,760 | 1,651 |
37,177 | 14,406 |
6. | PROFIT BEFORE TAXATION |
The profit is stated after charging/(crediting): |
2022 | 2021 |
£ | £ |
Other operating leases | 23,856 | 24,577 |
Depreciation - owned assets | 225,206 | 187,862 |
Profit on disposal of fixed assets | - | (327 | ) |
Auditors' remuneration | 17,900 | 16,200 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
2022 | 2021 |
£ | £ |
Current tax: |
UK corporation tax | 106,884 | 292,552 |
Deferred tax | 102,898 | 49,277 |
Tax on profit | 209,782 | 341,829 |
UK corporation tax has been charged at 19 % (2021 - 19 %). |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
2022 | 2021 |
£ | £ |
Profit before tax | 852,107 | 1,857,990 |
Profit multiplied by the standard rate of corporation tax in the UK of 19 % (2021 - 19 %) |
161,900 |
353,018 |
Effects of: |
Income not taxable for tax purposes | (300 | ) | (850 | ) |
Capital allowances in excess of depreciation | (39,471 | ) | (59,536 | ) |
Utilisation of tax losses | (15,245 | ) | (16,532 | ) |
Deferred tax | 102,898 | 49,277 |
Unused tax losses | - | 76 |
Losses surrendered to group | - | 16,376 |
Total tax charge | 209,782 | 341,829 |
8. | INDIVIDUAL INCOME STATEMENT |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
9. | DIVIDENDS |
2022 | 2021 |
£ | £ |
Ordinary shares of £1 each |
Interim | 84,000 | 84,000 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
10. | INTANGIBLE FIXED ASSETS |
Group |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 | 136,000 |
AMORTISATION |
At 1 January 2022 |
and 31 December 2022 | 136,000 |
NET BOOK VALUE |
At 31 December 2022 | - |
At 31 December 2021 | - |
Company |
Goodwill |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
AMORTISATION |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | TANGIBLE FIXED ASSETS |
Group |
Freehold | Long | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 January 2022 | 1,411,114 | 1,868,462 | 2,784,037 |
Additions | 1,844,193 | - | 191,386 |
At 31 December 2022 | 3,255,307 | 1,868,462 | 2,975,423 |
DEPRECIATION |
At 1 January 2022 | 303,728 | 555,922 | 1,820,277 |
Charge for year | 32,553 | 18,685 | 115,513 |
At 31 December 2022 | 336,281 | 574,607 | 1,935,790 |
NET BOOK VALUE |
At 31 December 2022 | 2,919,026 | 1,293,855 | 1,039,633 |
At 31 December 2021 | 1,107,386 | 1,312,540 | 963,760 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2022 | 846,196 | 296,663 | 7,206,472 |
Additions | 119,739 | - | 2,155,318 |
At 31 December 2022 | 965,935 | 296,663 | 9,361,790 |
DEPRECIATION |
At 1 January 2022 | 607,261 | 273,393 | 3,560,581 |
Charge for year | 53,801 | 4,654 | 225,206 |
At 31 December 2022 | 661,062 | 278,047 | 3,785,787 |
NET BOOK VALUE |
At 31 December 2022 | 304,873 | 18,616 | 5,576,003 |
At 31 December 2021 | 238,935 | 23,270 | 3,645,891 |
The Directors estimate that 50% of value of the Freehold Property shown above relates to land. The proportion that relates to land has been excluded from the depreciation computations. |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | TANGIBLE FIXED ASSETS - continued |
Company |
Freehold | Long | Plant and |
property | leasehold | machinery |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 January 2022 |
Additions |
At 31 December 2022 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
11. | TANGIBLE FIXED ASSETS - continued |
Company |
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements: |
Motor Vehicles |
£ |
At 31 December 2022 | - |
At 31 December 2021 | 8,007 |
12. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertaking |
£ |
COST |
At 1 January 2022 |
and 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
The Group or the Company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
Subsidiary |
Registered office: Bourne End Garden Centre, Hedsor Road, Bourne End, Bucks, SL8 5EE |
Nature of business: |
% |
Class of shares: | holding |
2022 | 2021 |
£ | £ |
Aggregate capital and reserves |
Profit/(loss) for the year | ( |
) |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
13. | STOCKS |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Stocks | 2,888,954 | 2,503,623 |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Trade debtors | 60,668 | 59,220 |
Amounts owed by group undertakings | - | - |
Other debtors | 2,765 | 4,132 |
Prepayments | 70,033 | 44,156 |
133,466 | 107,508 |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Bank loans and overdrafts (see note 17) | 265,433 | 165,000 |
Hire purchase contracts (see note 18) | - | 7,820 |
Trade creditors | 790,539 | 809,621 |
Taxation | 17,158 | 142,840 |
Social security and other taxes | 228,128 | 111,553 |
Other creditors | 22,534 | 30,662 | 21,947 | 29,571 |
Directors' current accounts | 347,782 | 60,523 | 343,422 | 56,163 |
Accrued expenses | 50,493 | 52,647 |
Deferred government grants | - | 1,581 |
1,722,067 | 1,382,247 |
16. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Bank loans (see note 17) | 907,775 | 160,000 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
17. | LOANS |
An analysis of the maturity of loans is given below: |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Amounts falling due within one year or on | demand: |
Bank loans | 265,433 | 165,000 |
Amounts falling due between one and two | years: |
Bank loans - 1-2 years | 217,866 | 160,000 |
Amounts falling due between two and five | years: |
Bank loans - 2-5 years | 326,799 | - |
Amounts falling due in more than five | years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 363,110 | - | 363,110 | - |
The bank loan bears interest at 1.9% above the Bank Base Rate and matures in 2032. |
The directors consider that the carrying amounts of the bank loans and overdraft approximate to their fair value. |
18. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Group |
Hire purchase | contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year | - | 7,820 |
Company |
Hire purchase | contracts |
2022 | 2021 |
£ | £ |
Net obligations repayable: |
Within one year |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
19. | SECURED DEBTS |
The following secured debts are included within creditors: |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Bank loans | 1,173,208 | 325,000 |
The bank loan is secured by way of a fixed charge over its freehold property shown in note 11 and a fixed and a guarantee of £150,000 by the directors of the company. |
The bank loan is repayable over the period until 2032. The rate of interest payable on the debt is 1.9% per annum over the Bank Base Rate. |
20. | FINANCIAL INSTRUMENTS |
Carrying amount of financial assets and liabilities: |
2022 | 2021 |
£ | £ |
Financial assets measured at amortised cost | 379,023 | 945,647 |
Financial liabilities measured at amortised cost | 1,273,836 | 1,162,025 |
Financial assets measured at amortised cost comprise of trade debtors, cash at bank and in hand and prepayments. |
Financial liabilities measured at amortised cost comprise of trade creditors, bank loans and hire purchase contracts |
21. | PROVISIONS FOR LIABILITIES |
Group | Company |
2022 | 2021 | 2022 | 2021 |
£ | £ | £ | £ |
Deferred tax | 297,610 | 194,712 | 235,115 | 143,060 |
Group |
Deferred |
tax |
£ |
Balance at 1 January 2022 | 194,712 |
Provided during year | 102,898 |
Balance at 31 December 2022 | 297,610 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
21. | PROVISIONS FOR LIABILITIES - continued |
Company |
Deferred |
tax |
£ |
Balance at 1 January 2022 |
Charge to Income Statement during year |
Balance at 31 December 2022 |
22. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
Ordinary | £1 | 1,200 | 1,200 |
Ordinary A | 10p | 2,060 | 2,060 |
3,260 | 3,260 |
23. | RESERVES |
Group |
Retained | Share | Other |
earnings | premium | reserves | Totals |
£ | £ | £ | £ |
At 1 January 2022 | 5,212,684 | 400 | 770 | 5,213,854 |
Profit for the year | 638,231 | 638,231 |
Dividends | (84,000 | ) | (84,000 | ) |
At 31 December 2022 | 5,766,915 | 400 | 770 | 5,768,085 |
B.E.ENTERPRISES LIMITED (REGISTERED NUMBER: 00641227) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
24. | RELATED PARTY DISCLOSURES |
Group |
During the year the group entered into the following transactions with related parties: |
2022 | 2021 |
£ | £ |
Amounts owed by/(to) B G R Evans (Director) | (4,360 | ) | (1,240 | ) |
Amounts owed by/(to) E J Evans (Director) | - | (4,403 | ) |
Amounts owed by/(to) H D Evans (Director) | (43,547 | ) | (54,880 | ) |
Amounts owed by/(to) B A K Eyre (Director) | (299,875 | ) | - |
Company |
During the year the company entered into the following transactions with related parties: |
2022 | 2021 |
£ | £ |
Amounts owed by/(to) Iver Flowerland Limited | 137,303 | 281,311 |
Management services charged by Iver Flowerland Limited | 168,000 | 168,000 |
Purchase of goods from Iver Flowerland Limited | 278,770 | 309396 |
Amounts owed by/(to) B G R Evans (Director) | - | - |
Amounts owed by/(to) B A K Eyre (Director) | (299,875 | ) | - |
Amounts owed by/(to) E J Evans (Director) | - | (1,283 | ) |
Amounts owed by/(to) H D Evans (Director) | (43,546 | ) | (54,879 | ) |
All transactions were made on normal commercial terms. |
25. | POST BALANCE SHEET EVENTS |
There were no post balance sheet events requiring adjustment or disclosure within the financial statements. |
26. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is B G R Evans. |
27. | CONTINGENCIES |
The subsidiary's banking arrangements are conducted through the parent company bank accounts, as such the subsidiary's assets also secure any credit arrangements entered into by the parent company. |