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Registration number: 10614506

Beer Associates (Contracts) Limited

Annual Report and Unaudited Financial Statements

for the Period from 13 February 2017 to 28 February 2018

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Beer Associates (Contracts) Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

Beer Associates (Contracts) Limited

Company Information

Directors

Andrew Terry Beer

Sarah Alison Beer

Registered office

Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

Accountants

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Beer Associates (Contracts) Limited
for the Period Ended 28 February 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Beer Associates (Contracts) Limited for the period ended 28 February 2018 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Beer Associates (Contracts) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Beer Associates (Contracts) Limited and state those matters that we have agreed to state to the Board of Directors of Beer Associates (Contracts) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beer Associates (Contracts) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Beer Associates (Contracts) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Beer Associates (Contracts) Limited. You consider that Beer Associates (Contracts) Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Beer Associates (Contracts) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

13 November 2018

 

Beer Associates (Contracts) Limited

(Registration number: 10614506)
Balance Sheet as at 28 February 2018

Note

2018
£

Current assets

 

Debtors

3

4,930

Cash at bank and in hand

 

274

 

5,204

Creditors: Amounts falling due within one year

4

(6,946)

Net liabilities

 

(1,742)

Capital and reserves

 

Called up share capital

5

100

Profit and loss account

(1,842)

Total equity

 

(1,742)

For the financial period ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 November 2018 and signed on its behalf by:
 

.........................................
Andrew Terry Beer
Director

   
     
 

Beer Associates (Contracts) Limited

Notes to the Financial Statements for the Period from 13 February 2017 to 28 February 2018

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

These financial statements were authorised for issue by the Board on 13 November 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Beer Associates (Contracts) Limited

Notes to the Financial Statements for the Period from 13 February 2017 to 28 February 2018

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Debtors

2018
£

Trade debtors

4,830

Other debtors

100

4,930

4

Creditors

Creditors: amounts falling due within one year

2018
£

Due within one year

Taxation and social security

348

Accruals and deferred income

3,500

Other creditors

3,098

6,946

5

Share capital

Allotted, called up and fully paid shares

 

2018

 

No.

£

Ordinary A of £1 each

100

100

     
 

Beer Associates (Contracts) Limited

Notes to the Financial Statements for the Period from 13 February 2017 to 28 February 2018

6

Related party transactions

Transactions with directors

2018

Advances to directors
£

At 28 February 2018
£

Andrew Terry Beer

Amounts owed to/(from) director

(50)

(50)

     
   

Sarah Alison Beer

Amounts owed to/(from) director

(50)

(50)

     
   

 

Beer Associates (Contracts) Limited

Notes to the Financial Statements for the Period from 13 February 2017 to 28 February 2018

 

Summary of transactions with other related parties

D K Beer Contracts Limited
 Andrew Beer is also a shareholder and director
 

Income and receivables from related parties

2018

Other related parties
£

Amounts receivable from related party

26,902

Provision for doubtful debts

26,902

Expenditure with and payables to related parties

2018

Other related parties
£

Amounts payable to related party

30,000