Company registration number 06551750 (England and Wales)
BEACON FACILITIES MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
BEACON FACILITIES MANAGEMENT LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
BEACON FACILITIES MANAGEMENT LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BEACON FACILITIES MANAGEMENT LIMITED FOR THE YEAR ENDED 31 OCTOBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beacon Facilities Management Limited for the year ended 31 October 2023 which comprise, the balance sheet 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Beacon Facilities Management Limited, as a body, in accordance with the terms of our engagement letter dated 28 October 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Beacon Facilities Management Limited and state those matters that we have agreed to state to the board of directors of Beacon Facilities Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beacon Facilities Management Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Beacon Facilities Management 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 loss of Beacon Facilities Management Limited. You consider that Beacon Facilities Management 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 Beacon Facilities Management 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.

Carpenter Box
31 July 2024
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
BEACON FACILITIES MANAGEMENT LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1,575
1,890
Tangible assets
4
62,321
90,874
63,896
92,764
Current assets
Debtors
5
710,298
792,160
Cash at bank and in hand
9,560
4,605
719,858
796,765
Creditors: amounts falling due within one year
6
(795,007)
(823,457)
Net current liabilities
(75,149)
(26,692)
Total assets less current liabilities
(11,253)
66,072
Creditors: amounts falling due after more than one year
7
(44,688)
(61,955)
Provisions for liabilities
(8,900)
(6,318)
Net liabilities
(64,841)
(2,201)
Capital and reserves
Called up share capital
8
1
1
Profit and loss reserves
(64,842)
(2,202)
Total equity
(64,841)
(2,201)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 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.

BEACON FACILITIES MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 31 July 2024 and are signed on its behalf by:
Mrs N A Clavier
Director
Company Registration No. 06551750
BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
1
Accounting policies
Company information

Beacon Facilities Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Tenkol House, Victoria Road, Burgess Hill, West Sussex, RH15 9LH.

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 £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties and the impact of subsequent events in making their assessment.true

 

On 25 May 2023, the company entered a Company Voluntary Agreement and has agreed to pay 100p in the £ to creditors with net amount outstanding of £438,446. Payments are being made over the term of 3 years

 

The company is reliant on the support of its creditors and has been meeting their liabilities as they arise. The financial statements do not include any adjustments that would result from a withdrawal of their support.

 

Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Trademark
10% straight line per annum
BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
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
25% Per annum on a straight line basis
Fixtures and fittings
33.33% Per annum diminishing balance
Motor vehicles
25% Per annum diminishing balance

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.

1.6
Cash at bank and in hand

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.

1.7
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.

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.

1.8
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.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

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.

BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 6 -
1.10
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.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
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 balance sheet 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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 98 (2022 - 82).

3
Intangible fixed assets
Other
£
Cost
At 1 November 2022 and 31 October 2023
3,150
Amortisation and impairment
At 1 November 2022
1,260
Amortisation charged for the year
315
At 31 October 2023
1,575
Carrying amount
At 31 October 2023
1,575
At 31 October 2022
1,890
BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 7 -
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022
13,608
18,776
226,665
259,049
Disposals
-
0
-
0
(20,593)
(20,593)
At 31 October 2023
13,608
18,776
206,072
238,456
Depreciation and impairment
At 1 November 2022
13,608
15,422
139,145
168,175
Depreciation charged in the year
-
0
1,107
20,025
21,132
Eliminated in respect of disposals
-
0
-
0
(13,172)
(13,172)
At 31 October 2023
13,608
16,529
145,998
176,135
Carrying amount
At 31 October 2023
-
0
2,247
60,074
62,321
At 31 October 2022
-
0
3,354
87,520
90,874
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
446,602
517,153
Other debtors
263,696
275,007
710,298
792,160
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
6,000
5,556
Trade creditors
29,357
65,745
Taxation and social security
104,457
310,325
Other creditors
655,193
441,831
795,007
823,457

Included within other creditors are hire purchase liabilities of £15,593 (2022 - £27,961), which are secured over the fixed assets they relate to.

 

The bank loans are secured over the assets of the company.

 

Included within other creditors is a company voluntary arrangement of £438,446.

BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 8 -
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,574
36,574
Other creditors
14,114
25,381
44,688
61,955

Included within other creditors are hire purchase liabilities of £14,144 (2022 - £25,381), which are secured over the fixed assets they relate to.

 

The bank loans are secured over the assets of the company.

8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share of £1 each
1
1
1
1
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
40,000
5,157
BEACON FACILITIES MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 9 -
10
Directors' transactions

 

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
69,668
64,853
(86,614)
47,907
-
100,325
34,498
(43,749)
91,074
169,993
99,351
(130,363)
138,981
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