Company Registration No. 02828062 (England and Wales)
BECK ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2018
PAGES FOR FILING WITH REGISTRAR
BECK ENTERPRISES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BECK ENTERPRISES LIMITED (REGISTERED NUMBER: 02828062)
BALANCE SHEET
AS AT 30 JUNE 2018
30 June 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
92,000
95,821
Current assets
Stocks
5,320
5,320
Debtors
4
139,084
154,159
Cash at bank and in hand
4,106
2
148,510
159,481
Creditors: amounts falling due within one year
5
(143,692)
(220,352)
Net current assets/(liabilities)
4,818
(60,871)
Total assets less current liabilities
96,818
34,950
Creditors: amounts falling due after more than one year
6
(93,976)
(32,326)
Net assets
2,842
2,624
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
2,740
2,522
Total equity
2,842
2,624
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 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
BECK ENTERPRISES LIMITED (REGISTERED NUMBER: 02828062)
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2018
30 June 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 January 2019 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 2018
- 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
.
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 2018
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
.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 14 (2017 - 12).
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 July 2017
251,045
162,130
413,175
Additions
26,000
-
26,000
Disposals
(23,837)
-
(23,837)
At 30 June 2018
253,208
162,130
415,338
Depreciation and impairment
At 1 July 2017
197,735
119,616
317,351
Depreciation charged in the year
13,328
12,254
25,582
Eliminated in respect of disposals
(19,595)
-
(19,595)
At 30 June 2018
191,468
131,870
323,338
Carrying amount
At 30 June 2018
61,740
30,260
92,000
At 30 June 2017
53,309
42,512
95,821
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
129,084
144,159
Other debtors
10,000
10,000
139,084
154,159
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2018
- 5 -
5
Creditors: amounts falling due within one year
2018
2017
£
£
Bank loans and overdrafts
-
52,579
Trade creditors
8,914
7,821
Corporation tax
29,094
40,699
Other taxation and social security
49,303
48,787
Other creditors
56,381
70,466
143,692
220,352
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
79,596
18,913
Other creditors
14,380
13,413
93,976
32,326
7
Called up share capital
2018
2017
£
£
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
Directors' transactions
Included within other debtors is an overdrawn director's loan account of
£
10,000 (2017:
£
10,000).