Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseNo description of principal activity1012trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05761401 2022-04-01 2023-03-31 05761401 2021-04-01 2022-03-31 05761401 2023-03-31 05761401 2022-03-31 05761401 c:Director1 2022-04-01 2023-03-31 05761401 d:PlantMachinery 2022-04-01 2023-03-31 05761401 d:PlantMachinery 2023-03-31 05761401 d:PlantMachinery 2022-03-31 05761401 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05761401 d:MotorVehicles 2022-04-01 2023-03-31 05761401 d:MotorVehicles 2023-03-31 05761401 d:MotorVehicles 2022-03-31 05761401 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05761401 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 05761401 d:Goodwill 2022-04-01 2023-03-31 05761401 d:Goodwill 2023-03-31 05761401 d:Goodwill 2022-03-31 05761401 d:CurrentFinancialInstruments 2023-03-31 05761401 d:CurrentFinancialInstruments 2022-03-31 05761401 d:Non-currentFinancialInstruments 2023-03-31 05761401 d:Non-currentFinancialInstruments 2022-03-31 05761401 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 05761401 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 05761401 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 05761401 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 05761401 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 05761401 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 05761401 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 05761401 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 05761401 d:ShareCapital 2023-03-31 05761401 d:ShareCapital 2022-03-31 05761401 d:RetainedEarningsAccumulatedLosses 2023-03-31 05761401 d:RetainedEarningsAccumulatedLosses 2022-03-31 05761401 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-04-01 2023-03-31 05761401 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 05761401 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-03-31 05761401 c:FRS102 2022-04-01 2023-03-31 05761401 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 05761401 c:FullAccounts 2022-04-01 2023-03-31 05761401 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 05761401 2 2022-04-01 2023-03-31 05761401 7 2022-04-01 2023-03-31 05761401 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 05761401






 
BINKS OF BECCLES LTD

UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
BINKS OF BECCLES LTD
REGISTERED NUMBER:05761401

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
30,000
50,000

Tangible assets
 5 
37,453
52,717

  
67,453
102,717

Current assets
  

Stocks
 6 
641,628
606,997

Debtors: amounts falling due within one year
 7 
43,542
17,127

Cash at bank and in hand
  
219,369
236,401

  
904,539
860,525

Creditors: amounts falling due within one year
 8 
(183,604)
(175,885)

Net current assets
  
 
 
720,935
 
 
684,640

Total assets less current liabilities
  
788,388
787,357

Creditors: amounts falling due after more than one year
 9 
(23,573)
(63,340)

Provisions for liabilities
  

Deferred tax
  
(3,917)
(6,537)

Other provisions
 11 
(12,320)
(9,240)

  
 
 
(16,237)
 
 
(15,777)

Net assets
  
748,578
708,240


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
747,578
707,240

  
748,578
708,240

Page 1

 
BINKS OF BECCLES LTD
REGISTERED NUMBER:05761401
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 

D Binks
Director

Date: 7 November 2023

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Binks of Beccles is a private company limited by shares and incorporated in England and Wales, registration number 05761401.  The registered office is Gosford Road, Beccles, Suffolk, NR34 9QP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Income statement over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25% Reducing balance
Motor vehicles
-
25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.14

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.15

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 6

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 12).


4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
400,000



At 31 March 2023

400,000



Amortisation


At 1 April 2022
350,000


Charge for the year on owned assets
20,000



At 31 March 2023

370,000



Net book value



At 31 March 2023
30,000



At 31 March 2022
50,000



Page 7

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant & machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 April 2022
55,354
66,455
121,809


Disposals
(9,586)
-
(9,586)



At 31 March 2023

45,768
66,455
112,223



Depreciation


At 1 April 2022
45,321
23,771
69,092


Charge for the year on owned assets
1,813
10,671
12,484


Disposals
(6,806)
-
(6,806)



At 31 March 2023

40,328
34,442
74,770



Net book value



At 31 March 2023
5,440
32,013
37,453



At 31 March 2022
10,033
42,684
52,717

Page 8

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
641,628
606,997

641,628
606,997



7.


Debtors

2023
2022
£
£


Trade debtors
43,542
15,739

Other debtors
-
1,388

43,542
17,127



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
20,205
20,000

Other loans
17,500
17,500

Trade creditors
64,837
33,408

Corporation tax
51,183
65,283

Other taxation and social security
19,138
29,358

Obligations under finance lease and hire purchase contracts
-
1,918

Other creditors
3,006
2,353

Accruals and deferred income
7,735
6,065

183,604
175,885


2023
2022
£
£

Other taxation and social security

VAT control
19,138
29,358

19,138
29,358


Page 9

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,573
63,340

23,573
63,340



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
20,205
20,000

Other loans
17,500
17,500


37,705
37,500

Amounts falling due 1-2 years

Bank loans
20,205
20,000


20,205
20,000

Amounts falling due 2-5 years

Bank loans
3,368
43,340


3,368
43,340


61,278
100,840


Page 10

 
BINKS OF BECCLES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Provisions




Other provision

£





At 1 April 2022
9,240


Charged to profit or loss
3,080



At 31 March 2023
12,320


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £51,444 (2022 - £55,875).
Contributions totalling £nil (2022 - £nil) were payable to the fund at the reporting date.

 
Page 11