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Registered number: 13861590
BEEF AGENT LTD
Unaudited Financial Statements
For The Year Ended 31 January 2024
AMCI ASSOCIATES LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13861590
31 January 2024 31 January 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 4,000 4,500
Tangible Assets 5 40,915 43,613
44,915 48,113
CURRENT ASSETS
Stocks 6 3,450 3,950
Debtors 7 - 320
Cash at bank and in hand 7,293 2,800
10,743 7,070
Creditors: Amounts Falling Due Within One Year 8 (50,307 ) (30,839 )
NET CURRENT ASSETS (LIABILITIES) (39,564 ) (23,769 )
TOTAL ASSETS LESS CURRENT LIABILITIES 5,351 24,344
Creditors: Amounts Falling Due After More Than One Year 9 (57,000 ) (49,000 )
NET LIABILITIES (51,649 ) (24,656 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (51,749 ) (24,756 )
SHAREHOLDERS' FUNDS (51,649) (24,656)
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Ifran Lal
Director
30/07/2024
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
BEEF AGENT LTD is a private company, limited by shares, incorporated in England & Wales, registered number 13861590 . The registered office is 133 Tame Road, Witton, Birmingham, West Midlands, B6 7DG.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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:
Leasehold 2.5%
Fixtures & Fittings 10%
Computer Equipment 20%
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
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Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 February 2023 5,000
As at 31 January 2024 5,000
Amortisation
As at 1 February 2023 500
Provided during the period 500
As at 31 January 2024 1,000
Net Book Value
As at 31 January 2024 4,000
As at 1 February 2023 4,500
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 20,488 15,812 11,758 48,058
Additions - - 2,183 2,183
As at 31 January 2024 20,488 15,812 13,941 50,241
Depreciation
As at 1 February 2023 512 1,581 2,352 4,445
Provided during the period 512 1,581 2,788 4,881
As at 31 January 2024 1,024 3,162 5,140 9,326
Net Book Value
As at 31 January 2024 19,464 12,650 8,801 40,915
As at 1 February 2023 19,976 14,231 9,406 43,613
6. Stocks
31 January 2024 31 January 2023
£ £
Stock 3,450 3,950
7. Debtors
31 January 2024 31 January 2023
£ £
Due within one year
Other taxes and social security - 320
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8. Creditors: Amounts Falling Due Within One Year
31 January 2024 31 January 2023
£ £
Other taxes and social security 1,816 -
VAT 5,978 13,537
Other creditors 19,455 5,124
Director's loan account 23,058 12,178
50,307 30,839
9. Creditors: Amounts Falling Due After More Than One Year
31 January 2024 31 January 2023
£ £
Other loans 57,000 49,000
10. Share Capital
31 January 2024 31 January 2023
£ £
Allotted, Called up and fully paid 100 100
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