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REGISTERED NUMBER: 03215223 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

BEECHWOOD ENGINEERING LIMITED

BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

BEECHWOOD ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: Mr R J Churchill
Mr S Churchill





REGISTERED OFFICE: Cocker Avenue
Poulton le Fylde
Lancashire
FY6 8JU





REGISTERED NUMBER: 03215223 (England and Wales)





ACCOUNTANTS: Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT

BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,500 36,000
Tangible assets 5 1,714,200 1,763,667
1,745,700 1,799,667

CURRENT ASSETS
Stocks 105,253 120,051
Debtors 646,648 440,718
Cash at bank 552,639 531,357
1,304,540 1,092,126
CREDITORS
Amounts falling due within one year 1,157,211 1,034,673
NET CURRENT ASSETS 147,329 57,453
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,893,029

1,857,120

CREDITORS
Amounts falling due after more than one
year

6

(1,054,738

)

(1,271,948

)

PROVISIONS FOR LIABILITIES (344,896 ) (320,344 )
NET ASSETS 493,395 264,828

CAPITAL AND RESERVES
Called up share capital 99 99
Revaluation reserve 8 49,731 49,731
Retained earnings 443,565 214,998
SHAREHOLDERS' FUNDS 493,395 264,828

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

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

The directors acknowledge their 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.

BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mr S Churchill - Director


BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Beechwood Engineering 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 statement of financial position date.


BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 90,000
AMORTISATION
At 1 August 2022 54,000
Amortisation for year 4,500
At 31 July 2023 58,500
NET BOOK VALUE

At 31 July 2023 31,500
At 31 July 2022 36,000

BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022 3,665,694
Additions 251,083
At 31 July 2023 3,916,777
DEPRECIATION
At 1 August 2022 1,902,027
Charge for year 300,550
At 31 July 2023 2,202,577
NET BOOK VALUE
At 31 July 2023 1,714,200
At 31 July 2022 1,763,667

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 August 2022 1,695,495
Additions 225,447
Transfer to ownership (45,000 )
At 31 July 2023 1,875,942
DEPRECIATION
At 1 August 2022 973,457
Charge for year 137,300
Transfer to ownership (26,289 )
At 31 July 2023 1,084,468
NET BOOK VALUE
At 31 July 2023 791,474
At 31 July 2022 722,038

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 43,059 66,154

BEECHWOOD ENGINEERING LIMITED (REGISTERED NUMBER: 03215223)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 476,691 597,564
Hire purchase contracts 707,143 1,079,967
1,183,834 1,677,531

8. RESERVES
Revaluation
reserve
£   
At 1 August 2022
and 31 July 2023 49,731

9. RELATED PARTY DISCLOSURES

The directors operated a loan account with the company. The balance owed to the directors at 31 July 2023 was £12,809 (2022 - £36,761).

10. ULTIMATE CONTROLLING PARTY

The Company has no ultimate controlling party, therefore it is controlled by the directors.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BEECHWOOD ENGINEERING LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beechwood Engineering Limited for the year ended 31 July 2023 which comprise the Abridged Income Statement, Abridged Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Beechwood Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beechwood Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Beechwood Engineering Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Beechwood Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Beechwood Engineering Limited. You consider that Beechwood Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Beechwood Engineering 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 financial statements.






Miller Roskell Limited
Chartered Certified Accountants
17 Victoria Road East
Thornton Cleveleys
Lancashire
FY5 5HT


28 March 2024