Company Registration No. 02828062 (England and Wales)
BECK ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
PAGES FOR FILING WITH REGISTRAR
BECK ENTERPRISES LIMITED
COMPANY INFORMATION
Directors
A P Dowding ESQ
Mrs S J Dowding
Secretary
Mrs S J Dowding
Company number
02828062
Registered office
19-21 Swan Street
West Malling
Kent
ME19 6JU
Accountants
Perrys Accountants Limited
Chartered Accountants
19-21 Swan Street
West Malling
Kent
ME19 6JU
BECK ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BECK ENTERPRISES LIMITED (REGISTERED NUMBER: 02828062)
BALANCE SHEET
AS AT
30 JUNE 2017
30 June 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
95,821
99,041
Current assets
Stocks
5,320
3,320
Debtors
4
154,159
102,959
Cash at bank and in hand
2
14
159,481
106,293
Creditors: amounts falling due within one year
5
(220,352)
(184,866)
Net current liabilities
(60,871)
(78,573)
Total assets less current liabilities
34,950
20,468
Creditors: amounts falling due after more than one year
6
(32,326)
(17,160)
Net assets
2,624
3,308
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
2,522
3,206
Total equity
2,624
3,308
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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.
BECK ENTERPRISES LIMITED (REGISTERED NUMBER: 02828062)
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2017
30 June 2017
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 December 2017 and are signed on its behalf by:
A P Dowding ESQ
Director
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
- 3 -
1
Accounting policies
Company information
Beck Enterprises Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
19-21 Swan Street, West Malling, Kent, ME19 6JU.
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 £
1
.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
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
- 25% on reducing balance
Motor vehicles
- 25% on reducing balance
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.
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
1
Accounting policies
(Continued)
- 4 -
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
Taxation
The tax expense represents the sum of the tax currently payable
.
1.6
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 12 (2016 - 10).
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2016
246,683
156,270
402,953
Additions
4,361
23,400
27,761
Disposals
-
(17,541)
(17,541)
At 30 June 2017
251,044
162,129
413,173
Depreciation and impairment
At 1 July 2016
179,965
123,948
303,913
Depreciation charged in the year
17,770
12,469
30,239
Eliminated in respect of disposals
-
(16,800)
(16,800)
At 30 June 2017
197,735
119,617
317,352
Carrying amount
At 30 June 2017
53,309
42,512
95,821
At 30 June 2016
66,718
32,323
99,041
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
- 5 -
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
144,159
102,959
Other debtors
10,000
-
154,159
102,959
5
Creditors: amounts falling due within one year
2017
2016
£
£
Bank loans and overdrafts
52,579
46,604
Trade creditors
7,821
8,791
Corporation tax
40,699
46,947
Other taxation and social security
48,787
50,211
Other creditors
70,466
32,313
220,352
184,866
6
Creditors: amounts falling due after more than one year
2017
2016
£
£
Bank loans and overdrafts
18,913
-
Other creditors
13,413
17,160
32,326
17,160
7
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
1 Deferred A of £1 each
1
1
1 Deferred B of £1 each
1
1
102
102
8
Related party transactions
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
8
Related party transactions
(Continued)
- 6 -
Included within other debtors is a director's loan account of £10,000 which was repaid on 31st August 2017.