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REGISTERED NUMBER: 04145306 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Beckworth Financial Services Limited

Beckworth Financial Services Limited (Registered number: 04145306)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Beckworth Financial Services Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: J M Wadsworth





SECRETARY: Mrs J E Wadsworth





REGISTERED OFFICE: 30 Southernhay East
EXETER
Devon
EX1 1NS





REGISTERED NUMBER: 04145306 (England and Wales)





ACCOUNTANTS: A C Mole
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Beckworth Financial Services Limited (Registered number: 04145306)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,715 23,997
Investments 5 56,879 56,722
Investment property 6 96,115 96,115
185,709 176,834

CURRENT ASSETS
Debtors: amounts falling due within one year 7 7,579 13,509
Debtors: amounts falling due after more than
one year

7

1,833,466

1,873,966
Cash at bank and in hand 75,427 291,996
1,916,472 2,179,471
CREDITORS
Amounts falling due within one year 8 164,216 209,957
NET CURRENT ASSETS 1,752,256 1,969,514
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,937,965

2,146,348

CREDITORS
Amounts falling due after more than one
year

9

(231,197

)

(302,188

)

PROVISIONS FOR LIABILITIES (3,024 ) (1,396 )
NET ASSETS 1,703,744 1,842,764

CAPITAL AND RESERVES
Called up share capital 109 109
Retained earnings 1,703,635 1,842,655
SHAREHOLDERS' FUNDS 1,703,744 1,842,764

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Beckworth Financial Services Limited (Registered number: 04145306)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 October 2023 and were signed by:





J M Wadsworth - Director


Beckworth Financial Services Limited (Registered number: 04145306)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Beckworth Financial Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act. The financial statements have been prepared under the historical cost convention as modified by certain assets held at fair value as set out below.

Preparation of consolidated financial statements
The financial statements contain information about Beckworth Financial Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net fees and commission, and is recognised when services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is initially recognised at cost and subsequently measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. In accordance with FRS 102 investment property is not depreciated.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company also makes pension contributions on behalf of the company director to a personal pension plan. Actual contributions paid in the year are charged to the profit and loss account.

Beckworth Financial Services Limited (Registered number: 04145306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at fair value at the balance sheet date using the closing quoted market price. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Financial instruments
i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

ii) Financial liabilities
Basic financial liabilities, including trade and other payables and bank loans, are initially recognised at transaction price and subsequently measured at amortised cost.

Critical accounting judgements and estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below:

i) Valuation of investment properties
The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The company purchased both properties in the past two years and the directors consider the cost to be a reasonable estimate of the current fair value. The key assumptions used to determine the fair value of investment property are further explained in note 7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Field Plant and Home Computer
fencing machinery Office equipment Totals
£    £    £    £    £   
COST
At 1 April 2022 4,487 23,402 16,000 80,426 124,315
Additions - 4,376 - 10,675 15,051
At 31 March 2023 4,487 27,778 16,000 91,101 139,366
DEPRECIATION
At 1 April 2022 2,795 20,208 - 77,315 100,318
Charge for year 254 1,114 - 4,965 6,333
At 31 March 2023 3,049 21,322 - 82,280 106,651
NET BOOK VALUE
At 31 March 2023 1,438 6,456 16,000 8,821 32,715
At 31 March 2022 1,692 3,194 16,000 3,111 23,997

Beckworth Financial Services Limited (Registered number: 04145306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 100 56,622 56,722
Additions - 16,344 16,344
Disposals - (12,996 ) (12,996 )
Revaluations - (3,191 ) (3,191 )
At 31 March 2023 100 56,779 56,879
NET BOOK VALUE
At 31 March 2023 100 56,779 56,879
At 31 March 2022 100 56,622 56,722

Fixed assets are held at fair value as set out in the accounting policies in Note 2. Revaluations are included in the profit and loss account in the year of revaluation.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 96,115
NET BOOK VALUE
At 31 March 2023 96,115
At 31 March 2022 96,115

Investment properties are initially recognised at cost and subsequently measured at fair value. The properties were purchased in recent years and therefore cost is deemed to be an appropriate fair value.

No change in value has been credited or debited to the income statement.

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 5,870 11,800
Other debtors 1,709 1,709
7,579 13,509

Amounts falling due after more than one year:
Amounts owed by group undertakings 876,699 898,699
Other debtors 956,767 975,267
1,833,466 1,873,966

Aggregate amounts 1,841,045 1,887,475

Beckworth Financial Services Limited (Registered number: 04145306)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 23,000 24,000
Taxation and social security 137,763 182,426
Other creditors 3,453 3,531
164,216 209,957

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 231,197 302,188

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years payable by
instalments

145,433

205,717

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 254,197 326,188

The above bank loans are secured by way of a legal mortgage over the land and buildings owned by other group companies and a fixed charge over any other interest in the investment property and all rents receivable.

11. RELATED PARTY DISCLOSURES

Companies under common control
The company has provided loans totalling £956,767 (2022: £975,267) to companies under common control. The loans are interest free and repayable on demand, but not expected to be repaid in the next 12 months.