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Registered number: 08218554
Bearded Fellows Ltd
Unaudited Financial Statements
For The Year Ended 30 September 2023
MAP ACCOUNTANTS LTD
16 Blackfriars Street
Manchester
M3 5BQ
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08218554
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,824 4,542
29,824 4,542
CURRENT ASSETS
Debtors 5 49,933 26,058
Cash at bank and in hand 135,825 218,637
185,758 244,695
Creditors: Amounts Falling Due Within One Year 6 (133,308 ) (216,878 )
NET CURRENT ASSETS (LIABILITIES) 52,450 27,817
TOTAL ASSETS LESS CURRENT LIABILITIES 82,274 32,359
Creditors: Amounts Falling Due After More Than One Year 7 (16,608 ) (25,417 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (7,456 ) (863 )
NET ASSETS 58,210 6,079
CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Profit and Loss Account 57,210 5,079
SHAREHOLDERS' FUNDS 58,210 6,079
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr. Matthew Stanners
Director
16th April 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bearded Fellows Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08218554 . The registered office is 4 Naval Street, Ancoats, Manchester, M4 6EW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Fixtures & Fittings 25% Reducing Balance & 20% Straight Line
Computer Equipment 33% Straight Line
2.4. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2022: 6)
7 6
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 October 2022 783 6,174 23,307 30,264
Additions 115 30,214 2,607 32,936
Disposals (222 ) - (708 ) (930 )
As at 30 September 2023 676 36,388 25,206 62,270
Depreciation
As at 1 October 2022 49 4,106 21,567 25,722
Provided during the period 193 5,602 929 6,724
As at 30 September 2023 242 9,708 22,496 32,446
Net Book Value
As at 30 September 2023 434 26,680 2,710 29,824
As at 1 October 2022 734 2,068 1,740 4,542
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 44,967 16,481
Prepayments and accrued income 4,966 5,497
Other debtors - 4,080
49,933 26,058
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 17,362 18,695
Bank loans and overdrafts 11,710 -
Corporation tax 55,384 62,019
Other taxes and social security - 420
VAT 1,490 23,420
Other creditors (1 ) 9,585
Accruals and deferred income 39,226 78,370
Directors' loan accounts 8,137 24,369
133,308 216,878
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7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 16,608 -
Other creditors - 25,417
16,608 25,417
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1,000 1,000
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 9,200 6,991
Later than one year and not later than five years 2,300 11,070
11,500 18,061
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