Company registration number 08406453 (England and Wales)
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Unaudited financial statements
For the year ended 31 August 2023
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 8
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Statement of financial position
As at 31 August 2023
31 August 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
87,634
111,781
Investments
4
100
87,634
111,881
Current assets
Debtors
5
245,137
202,501
Cash at bank and in hand
22,545
222,885
267,682
425,386
Creditors: amounts falling due within one year
6
(121,941)
(205,547)
Net current assets
145,741
219,839
Total assets less current liabilities
233,375
331,720
Creditors: amounts falling due after more than one year
7
(19,062)
(35,299)
Provisions for liabilities
(21,900)
(28,000)
Net assets
192,413
268,421
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
192,412
268,420
Total equity
192,413
268,421
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Statement of financial position (continued)
As at 31 August 2023
31 August 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 23 April 2024 and are signed on its behalf by:
Mr B Mills
Mr B Mills
Director
Director
Company registration number 08406453 (England and Wales)
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements
For the year ended 31 August 2023
- 3 -
1
Accounting policies
Company information
Bee Active Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, Trent House, Dunning Street, Tunstall, Stoke on Trent, Staffordshire, ST6 5AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
20% per annum of cost
Fixtures and fittings
15% per annum of net book value
Computers
25% per annum of cost
Motor vehicles
25% per annum of net book value
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements (continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
- 4 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements (continued)
For the year ended 31 August 2023
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the statement of financial position as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
1.12
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements (continued)
For the year ended 31 August 2023
- 6 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
39
37
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 September 2022
14,777
46,234
116,722
177,733
Additions
2,800
1,767
3,040
7,607
At 31 August 2023
2,800
16,544
49,274
116,722
185,340
Depreciation and impairment
At 1 September 2022
3,607
28,303
34,042
65,952
Depreciation charged in the year
47
1,824
9,219
20,664
31,754
At 31 August 2023
47
5,431
37,522
54,706
97,706
Carrying amount
At 31 August 2023
2,753
11,113
11,752
62,016
87,634
At 31 August 2022
11,170
17,931
82,680
111,781
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
100
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements (continued)
For the year ended 31 August 2023
4
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 September 2022
100
Disposals
(100)
At 31 August 2023
-
Carrying amount
At 31 August 2023
-
At 31 August 2022
100
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
134,348
149,629
Amounts owed by group undertakings
97,821
Other debtors
12,968
52,872
245,137
202,501
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
10,035
10,648
Trade creditors
10,237
22,343
Amounts owed to group undertakings
5,444
5,758
Taxation and social security
33,561
122,857
Other creditors
62,664
43,941
121,941
205,547
Bee Active Limited
(Formally Known As Learn And Move Ltd)
Notes to the financial statements (continued)
For the year ended 31 August 2023
- 8 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
19,062
28,491
Other creditors
6,808
19,062
35,299
8
Security
Amounts due under finance leases and hire purchase contracts of £6,808 (2022 - £13,985) are secured against the assets which they relate to.
9
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
18,218
35,958