Registered number
07685166
Beeson Wright Limited
Filleted Accounts
31 March 2024
Beeson Wright Limited
Registered number: 07685166
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,948,372 16,730,594
Investments 4 350 350
21,948,722 16,730,944
Current assets
Stocks 2,927,541 2,482,170
Debtors 5 4,299,212 10,982,297
Cash at bank and in hand 4,987,555 3,732,937
12,214,308 17,197,404
Creditors: amounts falling due within one year 6 (16,435,994) (16,921,909)
Net current (liabilities)/assets (4,221,686) 275,495
Total assets less current liabilities 17,727,036 17,006,439
Provisions for liabilities (934,308) (970,120)
Net assets 16,792,728 16,036,319
Capital and reserves
Called up share capital 200 200
Profit and loss account 16,792,528 16,036,119
Shareholders' funds 16,792,728 16,036,319
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A D Beeson
Director
Approved by the board on 8 August 2024
Beeson Wright Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% on reducing balance and 33% on cost
Office equipment 25% on reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Interest income
Interest income is recognised in the profit and loss using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Cost
At 1 April 2023 16,558,594 299,462 52,401 16,910,457
Additions 5,395,457 1,589 2,815 5,399,861
Surplus on revaluation (144,263) - - (144,263)
Disposals - (17,891) - (17,891)
At 31 March 2024 21,809,788 283,160 55,216 22,148,164
Depreciation
At 1 April 2023 - 129,692 50,171 179,863
Charge for the year - 31,978 1,503 33,481
On disposals - (13,552) - (13,552)
At 31 March 2024 - 148,118 51,674 199,792
Net book value
At 31 March 2024 21,809,788 135,042 3,542 21,948,372
At 31 March 2023 16,558,594 169,770 2,230 16,730,594
Cost or valuation at 31 March 2024 is represented by:
Land and buildings Plant and machinery Office equipment Total
£ £ £ £
Valuation in 2015 887,913 887,913
Valuation in 2016 850,000 850,000
Valuation in 2017 1,074,534 1,074,534
Valuation in 2018 1,414,557 1,414,557
Valuation in 2021 (73,496) (73,496)
Valuation in 2022 (64,737) (64,737)
Valuation in 2023 (102,674) (102,674)
Valuation in 2024 (144,263) (144,263)
Cost 17,967,954 283,160 55,216 18,306,330
21,809,788 283,160 55,216 22,148,164
4 Investments
Investments in
subsidiary
undertakings Total
£ £
Cost
At 1 April 2023 350 350
At 31 March 2024 350 350
Historical cost
At 1 April 2023 350
At 31 March 2024 350
5 Debtors 2024 2023
£ £
Trade debtors 204,560 66,706
Other debtors 4,094,652 10,915,591
4,299,212 10,982,297
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 39,683 62,521
Taxation and social security costs 192,120 768,046
Other creditors 16,204,191 16,091,342
16,435,994 16,921,909
The directors loan accounts totalling £15,918,623 (2023: £15,760,523) are secured by way of a debenture over the land and property owned by the company
7 Pension commitments
The Company contributes to a defined contribution scheme for its employees. At the balance sheet date there were outstanding contributions of £440 (2023: £1,055). This amount is included within other creditors
8 Other information
Beeson Wright Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Cobblestone Yard
Bath Row
Stamford
PE9 2RD
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