Filleted
Registration number:
Beachbay Limited
for the Year Ended 31 October 2023
Beachbay Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Beachbay Limited
Company Information
Director |
Mr J Lynch |
Registered office |
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Beachbay Limited
(Registration number: 03390560)
Balance Sheet as at 31 October 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
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For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Beachbay Limited
Notes to the Financial Statements for the Year Ended 31 October 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Beachbay Limited
Notes to the Financial Statements for the Year Ended 31 October 2023
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & machinery |
20% reducing balance |
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Beachbay Limited
Notes to the Financial Statements for the Year Ended 31 October 2023
Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2022 |
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At 31 October 2023 |
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Depreciation |
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At 1 November 2022 |
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At 31 October 2023 |
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Carrying amount |
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At 31 October 2023 |
- |
- |
Debtors |
Note |
2023 |
2022 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
- |
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- |
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Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Trade creditors |
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- |
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Corporation tax liability |
71 |
- |
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Other creditors |
84 |
78 |
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Beachbay Limited
Notes to the Financial Statements for the Year Ended 31 October 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Related party transactions |
Summary of transactions with other related parties
Cardigan Quays Ltd
Fforest Camps Ltd
BigFt Construction Ltd
Bigger Box Ltd
Fforest Land Ltd
Boy Ashore Ltd
The total amounts owed by Beachbay Ltd to the above parties is £Nil (2022: £5,144)
During the year ended 31st October 2023 Beachbay Ltd paid software costs of £2,651 (2022 : £2,812) to Fforest Events Ltd. These transactions were made in the ordinary course of business.
During the year ended 31st October 2023 Beachbay Ltd received income of £19,000 (2022 : £19,500) from BigFt Construction Ltd. These transactions were made in the ordinary course of business.