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Registration number: 09794401

Bee Eco Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Bee Eco Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Bee Eco Limited

Company Information

Directors

Mr Ajinder Bains

Mrs Anita Bains

Registered office

Unit 4 Great Barr Business Park
Birmingham
West Midlands
B42 1DY

Accountants

Mr Satraj Suman ACMA
21 Babors Field
Bilston
Wolverhampton
West Midlands
WV14 9XS

 

Bee Eco Limited

(Registration number: 09794401)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

123,829

20,249

Other financial assets

5

50,000

-

 

173,829

20,249

Current assets

 

Stocks

6

1,200

1,200

Debtors

7

33,357

46,226

Cash at bank and in hand

 

140,232

55,954

 

174,789

103,380

Creditors: Amounts falling due within one year

8

(112,804)

(105,022)

Net current assets/(liabilities)

 

61,985

(1,642)

Total assets less current liabilities

 

235,814

18,607

Creditors: Amounts falling due after more than one year

8

(145,705)

(25,535)

Net assets/(liabilities)

 

90,109

(6,928)

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

90,009

(7,028)

Shareholders' funds/(deficit)

 

90,109

(6,928)

For the financial year ending 30 September 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 accounts for the year 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.

 

Bee Eco Limited

(Registration number: 09794401)
Balance Sheet as at 30 September 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 December 2023 and signed on its behalf by:
 

.........................................
Mr Ajinder Bains
Director

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

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

The address of its registered office is:
Unit 4 Great Barr Business Park
Birmingham
West Midlands
B42 1DY

These financial statements were authorised for issue by the Board on 12 December 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

20% Reducing Balance

Motor Vehicles

25% Reducing Balance

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2022

19,200

22,400

41,600

Additions

78,465

51,225

129,690

At 30 September 2023

97,665

73,625

171,290

Depreciation

At 1 October 2022

8,126

13,225

21,351

Charge for the year

14,030

12,080

26,110

At 30 September 2023

22,156

25,305

47,461

Carrying amount

At 30 September 2023

75,509

48,320

123,829

At 30 September 2022

11,074

9,175

20,249

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 October 2022

50,000

50,000

At 30 September 2023

50,000

50,000

Impairment

Carrying amount

At 30 September 2023

50,000

50,000

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Stocks

2023
£

2022
£

Other inventories

1,200

1,200

7

Debtors

Current

2023
£

2022
£

Trade debtors

33,357

46,226

 

33,357

46,226

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

12,803

5,023

Accruals and deferred income

100,000

100,000

Other creditors

1

(1)

112,804

105,022

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

145,705

25,535

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

-

19,188

Other borrowings

145,705

6,347

145,705

25,535

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

11

Dividends

Final dividends paid

2023
£

2022
£

Final dividend of 71.8662 (2022 - 101.8578) per each Ordinary Shares

-

10,186

 

 

12

Credit Protection Trust

The company made a contribution in the accounting period of the amount of £100,000. The terms of the trust are set out in the trust deed executed by the company and the original trustees.

 

Bee Eco Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

13

Related party transactions

Transactions with directors

2023

At 1 October 2022
£

Repayments by director
£

At 30 September 2023
£

Mr Ajinder Bains

Director's loan towards working capital

-

(141,570)

(141,570)

2022

At 1 October 2021
£

Repayments by director
£

At 30 September 2022
£

Mr Ajinder Bains

Director's loan towards working capital

(36,468)

36,468

-

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

52,388

22,700