Company registration number 02828062 (England and Wales)
BECK ENTERPRISES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
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 SEPTEMBER 2021
30 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
182,032
168,871
Current assets
Stocks
32,355
31,355
Debtors
4
231,603
231,527
Cash at bank and in hand
3,507
16,407
267,465
279,289
Creditors: amounts falling due within one year
5
(334,868)
(271,718)
Net current (liabilities)/assets
(67,403)
7,571
Total assets less current liabilities
114,629
176,442
Creditors: amounts falling due after more than one year
6
(112,661)
(173,955)
Net assets
1,968
2,487
Capital and reserves
Called up share capital
7
102
102
Profit and loss reserves
1,866
2,385
Total equity
1,968
2,487
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 September 2021 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 SEPTEMBER 2021
30 September 2021
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 June 2022 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 SEPTEMBER 2021
- 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. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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
.
1.4
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
.
1.5
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 cost and replacement cost, adjusted where applicable for any loss of service potential.
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable
.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
11
10
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2020
308,400
186,252
494,652
Additions
32,654
38,901
71,555
Disposals
(26,000)
(33,541)
(59,541)
At 30 September 2021
315,054
191,612
506,666
Depreciation and impairment
At 1 October 2020
205,272
120,509
325,781
Depreciation charged in the year
25,039
19,855
44,894
Eliminated in respect of disposals
(15,031)
(31,010)
(46,041)
At 30 September 2021
215,280
109,354
324,634
Carrying amount
At 30 September 2021
99,774
82,258
182,032
At 30 September 2020
103,128
65,743
168,871
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
190,851
191,275
Other debtors
40,752
40,252
231,603
231,527
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
44,915
44,069
Trade creditors
7,033
7,487
Taxation and social security
149,850
149,516
Other creditors
133,070
70,646
334,868
271,718
BECK ENTERPRISES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2021
- 6 -
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
79,238
132,327
Other creditors
33,423
41,628
112,661
173,955
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
50
50
50
50
Ordinary B of £1 each
50
50
50
50
Deferred A of £1 each
1
1
1
1
Deferred B of £1 each
1
1
1
1
102
102
102
102
8
Financial commitments, guarantees and contingent liabilities
During the
previous
year, the company borrowed £
100,000
from its bankers for a
Covid Business Interruption
Loan. As part of this loan scheme, the UK government has guaranteed the advance and will pay the interest and fees due for the first 12 months.
9
Directors' transactions
Included within other debtors is an overdrawn director's loan account of
£27,360
(20
20
:
£27,360
).