ROY BEECH (CONTRACTORS) LIMITED |
Balance Sheet |
as at 31 May 2023 |
|
Notes |
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|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
380,551 |
|
|
348,754 |
|
Current assets |
Stocks |
|
|
200,146 |
|
|
207,583 |
Debtors |
4 |
|
306,394 |
|
|
308,521 |
Cash at bank and in hand |
|
|
1,256,752 |
|
|
887,254 |
|
|
|
|
1,763,292 |
|
|
1,403,358 |
Creditors: amounts falling due within one year |
5 |
|
(867,299) |
|
|
(752,331) |
|
Net current assets |
|
|
|
895,993 |
|
|
651,027 |
|
|
|
|
|
|
|
|
Total assets less current liabilities |
|
|
|
1,276,544 |
|
|
999,781 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(23,524) |
|
|
(31,743) |
|
Provisions for liabilities |
|
|
|
(844,219) |
|
|
(568,130) |
|
|
|
|
|
|
|
|
Net assets |
|
|
|
408,801 |
|
|
399,908 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
6,314 |
|
|
6,314 |
Capital redemption reserve |
|
|
|
43,836 |
|
|
43,836 |
Profit and loss account |
|
|
|
358,651 |
|
|
349,758 |
|
Shareholders' funds |
|
|
|
408,801 |
|
|
399,908 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
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The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
A.M. WILLIAMS |
Director |
Approved by the board on 24 November 2023 |
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ROY BEECH (CONTRACTORS) LIMITED |
Notes to the Accounts |
for the year ended 31 May 2023 |
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|
1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows: |
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|
Plant and machinery |
25% reducing balance basis |
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Fixtures, fittings and equipment |
25% reducing balance basis |
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Computers and peripheral equipment |
33⅓% straight line basis |
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Motor vehicles: Vans |
50% straight line basis |
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Cars |
30% reducing balance basis |
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Others |
25% reducing balance basis |
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Depreciation is charged on a pro rata basis in the year of acquisition. No depreciation is charged in the year of disposal. |
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Stocks and work in progress |
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Stocks of unallocated materials and consumables are stated at the directors' valuation at the lower of cost and net realisable value after making adequate allowance for sub-standard, obsolete or slow-moving items. |
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Work-in-progress substantially complete at the year end is stated at the amount subsequently invoiced less provision for costs still to be incurred. All other work-in-progress is stated at the valuation of a director of the company at direct cost plus an appropriate proportion of attributable overheads, based on normal levels of activity. |
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Debtors |
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Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. |
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|
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Creditors |
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Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is possible that economic benefit will be transferred to settle the obligation and the amount of the obligation can be reliably estimated. |
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Leased assets |
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A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate. |
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|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
36 |
|
37 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
Land and buildings |
|
Plant, machinery and equipment |
|
Motor vehicles |
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Total |
£ |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2022 |
29,343 |
|
928,504 |
|
771,219 |
|
1,729,066 |
|
Additions |
- |
|
58,283 |
|
152,733 |
|
211,016 |
|
Disposals |
- |
|
(16,925) |
|
(36,047) |
|
(52,972) |
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At 31 May 2023 |
29,343 |
|
969,862 |
|
887,905 |
|
1,887,110 |
|
|
|
|
|
|
|
|
|
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Depreciation |
|
At 1 June 2022 |
3,196 |
|
766,783 |
|
610,333 |
|
1,380,312 |
|
Charge for the year |
- |
|
55,461 |
|
117,812 |
|
173,273 |
|
On disposals |
- |
|
(16,861) |
|
(30,165) |
|
(47,026) |
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At 31 May 2023 |
3,196 |
|
805,383 |
|
697,980 |
|
1,506,559 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2023 |
26,147 |
|
164,479 |
|
189,925 |
|
380,551 |
|
At 31 May 2022 |
26,147 |
|
161,721 |
|
160,886 |
|
348,754 |
|
|
|
|
|
|
|
|
|
|
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Freehold land and buildings: |
2023 |
|
2022 |
£ |
£ |
|
Historical cost |
26,147 |
|
26,147 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
26,147 |
|
26,147 |
|
Buildings erected on short leasehold land |
|
|
Historical cost |
3,196 |
|
3,196 |
|
|
|
|
|
|
|
|
|
|
Cumulative depreciation based on historical cost |
3,196 |
|
3,196 |
|
|
|
|
|
|
|
|
|
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Net book value of plant, machinery and vehicles included above held under hire purchase and lease purchase contracts |
|
130,640 |
|
98,863 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
292,288 |
|
270,475 |
|
Other debtors |
14,106 |
|
18,245 |
|
Taxes and social security costs |
- |
|
19,801 |
|
|
|
|
|
|
306,394 |
|
308,521 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank loan account (unsecured) |
- |
|
- |
|
Obligations under finance lease and hire purchase contracts |
82,490 |
|
64,389 |
|
Trade creditors |
521,341 |
|
615,735 |
|
Taxes and social security costs |
263,149 |
|
71,888 |
|
Directors' loan accounts |
319 |
|
319 |
|
|
|
|
|
|
867,299 |
|
752,331 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2023 |
|
2022 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
23,524 |
|
31,743 |
|
|
|
|
|
|
|
|
|
|
7 |
Contingent liabilities |
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There is a contingent liability for remedial work in respect of contractual warranties which cannot be estimated. |
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8 |
Controlling party |
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The ultimate controlling parties at the Balance Sheet date were Messrs. I.D. Jennings and A.M. Williams, each of whom owned 50% of the issued share capital in the company. |
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9 |
Other information |
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ROY BEECH (CONTRACTORS) LIMITED (Registered number 00533310) is a private company limited by shares and incorporated in England. Its registered office is North Street, Stoke-on-Trent, Staffordshire, ST4 7DJ. |