Company registration number 14268059 (England and Wales)
BEEM ELECTRICAL SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
BEEM ELECTRICAL SERVICES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
BEEM ELECTRICAL SERVICES LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2023
31 August 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
2,399
Current assets
Cash at bank and in hand
4,023
Creditors: amounts falling due within one year
4
(3,164)
Net current assets
859
Net assets
3,258
Capital and reserves
Called up share capital
5
1
Profit and loss reserves
3,257
Total equity
3,258
The notes on pages 2 to 3 form part of these financial statements.
For the financial period 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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 30 July 2024
Mr M Mitchell
Director
Company registration number 14268059 (England and Wales)
BEEM ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023
- 2 -
1
Accounting policies
Company information
Beem Electrical Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 97 Blackwood Road, Streelty, Sutton Coldfield, West Midlands, England, B74 3PW.
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 have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts received in respect of services provided.
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:
Computers
33% straight line
Motor vehicles
25% straight line
1.4
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. Taxable profit differs from net profit as reported in the profit and loss account 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.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 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 profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
BEEM ELECTRICAL SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2023
Number
Total
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2022
Additions
2,739
At 31 August 2023
2,739
Depreciation and impairment
At 1 August 2022
Depreciation charged in the period
340
At 31 August 2023
340
Carrying amount
At 31 August 2023
2,399
4
Creditors: amounts falling due within one year
2023
£
Taxation and social security
1,857
Other creditors
1,307
3,164
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary of £1 each
1
1
During the period 1 Ordinary share of £1 was issued.