27 false false false false false false false false false true false false false false false false No description of principal activity 2022-04-01 Sage Accounts Production Advanced 2021 - FRS102_2021 5,791 5,591 200 200 xbrli:pure xbrli:shares iso4217:GBP 00503643 2022-04-01 2023-03-31 00503643 2023-03-31 00503643 2022-03-31 00503643 2021-04-01 2022-03-31 00503643 2022-03-31 00503643 core:PlantMachinery 2022-04-01 2023-03-31 00503643 core:FurnitureFittings 2022-04-01 2023-03-31 00503643 core:MotorVehicles 2022-04-01 2023-03-31 00503643 bus:Director2 2022-04-01 2023-03-31 00503643 core:PlantMachinery 2022-03-31 00503643 core:FurnitureFittings 2022-03-31 00503643 core:MotorVehicles 2022-03-31 00503643 core:PlantMachinery 2023-03-31 00503643 core:FurnitureFittings 2023-03-31 00503643 core:MotorVehicles 2023-03-31 00503643 core:WithinOneYear 2023-03-31 00503643 core:WithinOneYear 2022-03-31 00503643 core:AfterOneYear 2023-03-31 00503643 core:AfterOneYear 2022-03-31 00503643 core:ShareCapital 2023-03-31 00503643 core:ShareCapital 2022-03-31 00503643 core:RevaluationReserve 2022-03-31 00503643 core:RetainedEarningsAccumulatedLosses 2023-03-31 00503643 core:RetainedEarningsAccumulatedLosses 2022-03-31 00503643 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 00503643 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-03-31 00503643 core:Non-currentFinancialInstruments 2023-03-31 00503643 core:Non-currentFinancialInstruments 2022-03-31 00503643 core:PlantMachinery 2022-03-31 00503643 core:FurnitureFittings 2022-03-31 00503643 core:MotorVehicles 2022-03-31 00503643 bus:SmallEntities 2022-04-01 2023-03-31 00503643 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 00503643 bus:FullAccounts 2022-04-01 2023-03-31 00503643 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 00503643 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 00503643 core:InvestmentPropertyIncludedWithinPPE 2022-03-31 00503643 core:InvestmentPropertyIncludedWithinPPE 2022-04-01 2023-03-31 00503643 core:AfterOneYear 2022-04-01 2023-03-31
COMPANY REGISTRATION NUMBER: 00503643
Beestons (Hadleigh) Limited
Unaudited financial statements
31 March 2023
Beestons (Hadleigh) Limited
Statement of financial position
31 March 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
2,044,298
1,935,122
Investments
6
200
200
-----------
-----------
2,044,498
1,935,322
Current assets
Stocks
28,247
45,592
Debtors
7
452,568
349,771
Cash at bank and in hand
181,334
332,656
---------
---------
662,149
728,019
Creditors: Amounts falling due within one year
8
( 405,073)
( 918,606)
---------
---------
Net current assets/(liabilities)
257,076
( 190,587)
-----------
-----------
Total assets less current liabilities
2,301,574
1,744,735
Creditors: Amounts falling due after more than one year
9
( 451,441)
( 516,353)
Provisions
Taxation including deferred tax
( 508,799)
( 298,883)
-----------
-----------
Net assets
1,341,334
929,499
-----------
-----------
Capital and reserves
Called up share capital
4,600
4,600
Revaluation reserve
236,845
Profit and loss account
1,336,734
688,054
-----------
---------
Shareholders funds
1,341,334
929,499
-----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Beestons (Hadleigh) Limited
Statement of financial position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 2 October 2023 , and are signed on behalf of the board by:
S J Munson
Director
Company registration number: 00503643
Beestons (Hadleigh) Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Coach Depot, Ipswich Road, Hadleigh, IP7 6BG, Suffolk.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Coaches
-
10% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
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. 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.
4. Employee numbers
The average number of employees during the year was 27 (2022: 29 ).
5. Tangible assets
Coaches
Fixtures and fittings
Motor vehicles
Investment properties
Total
£
£
£
£
£
Cost
At 1 April 2022
2,403,230
136,824
100,191
350,000
2,990,245
Additions
870,927
93,246
30,900
995,073
Disposals
( 632,753)
( 37,999)
( 350,000)
( 1,020,752)
Transfers
24,100
( 24,100)
-----------
---------
---------
---------
-----------
At 31 March 2023
2,665,504
205,970
93,092
2,964,566
-----------
---------
---------
---------
-----------
Depreciation
At 1 April 2022
935,437
74,293
45,393
1,055,123
Charge for the year
138,005
15,593
2,648
156,246
Disposals
( 283,976)
( 7,125)
( 291,101)
-----------
---------
---------
---------
-----------
At 31 March 2023
789,466
89,886
40,916
920,268
-----------
---------
---------
---------
-----------
Carrying amount
At 31 March 2023
1,876,038
116,084
52,176
2,044,298
-----------
---------
---------
---------
-----------
At 31 March 2022
1,467,793
62,531
54,798
350,000
1,935,122
-----------
---------
---------
---------
-----------
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
Investment properties
£
At 31 March 2023
Aggregate cost
Aggregate depreciation
----
Carrying value
----
At 31 March 2022
Aggregate cost
78,000
Aggregate depreciation
-------
Carrying value
78,000
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
5,791
------
Impairment
At 1 April 2022 and 31 March 2023
5,591
------
Carrying amount
At 31 March 2023
200
------
At 31 March 2022
200
------
7. Debtors
2023
2022
£
£
Trade debtors
209,324
218,154
Other debtors
243,244
131,617
---------
---------
452,568
349,771
---------
---------
8. Creditors: Amounts falling due within one year
2023
2022
£
£
Trade creditors
90,547
176,778
Amounts owed to group undertakings and undertakings in which the company has a participating interest
123,659
503,740
Social security and other taxes
16,317
54,377
Other creditors
174,550
183,711
---------
---------
405,073
918,606
---------
---------
Obligations under finance leases and hire purchase contracts amounting to £168,017 (2022: £163,480) are secured on the assets to which they relate.
9. Creditors: Amounts falling due after more than one year
2023
2022
£
£
Other creditors
451,441
516,353
---------
---------
Obligations under finance leases and hire purchase contracts amounting to £451,441 (2022: £516,353) are secured on the assets to which they relate.