Registration number:
Beamat Holdings Limited
for the Year Ended 31 December 2023
Beamat Holdings Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Beamat Holdings Limited
Company Information
Directors |
B Chandaria K K Chandaria |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Financial Statements of
Beamat Holdings Limited
for the Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beamat Holdings Limited for the year ended 31 December 2023 which comprise the statement of comprehensive income, 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/a-z.
It is your duty to ensure that Beamat Holdings Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Beamat Holdings Limited. You consider that Beamat Holdings 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 Beamat Holdings 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 accounts.
Use of our report
This report is made solely to the Board of Directors of Beamat Holdings Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Beamat Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Beamat Holdings Limited, as a body, in this report in accordance with ICAEW Technical Release TECH 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beamat Holdings Limited and its Board of Directors, as a body, for our work or for this report.
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Chartered Accountants
Champions Way
Hendon
London
NW4 1PX
Beamat Holdings Limited
(Registration number: 10851318)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Other investments |
255,864 |
232,526 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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|
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
1,107,233 |
1,109,388 |
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Shareholders' funds |
1,107,333 |
1,109,488 |
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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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. |
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. The statement of comprehensive income and the directors' report are not delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.
Approved and authorised for issue by the
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Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital and incorporated in England. The registered office address is shown on page 1.
These financial statements were authorised for issue by the
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A Small Entities and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
Judgements in applying accounting policies
The preparation of financial statements in compliance with FRS 102 Section 1A Small Entities may require the use of certain critical accounting estimates. It may also require the directors to exercise judgement in applying the accounting policies. |
In preparing these financial statements, the directors have had to make the following significant judgement: |
- Determine to what extent there are indicators of impairment of the company's investments that are carried at cost. Factors taken into consideration in reaching such a decision include knowledge as to the economic viability and expected future financial performance of the investments. |
There were no other significant judgements. |
Summary of significant accounting policies
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.
Tax
The tax expense for the year comprises current and where applicable, deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.
Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that the recognition of deferred tax assets is limited to the extent that it is probable that they will be recoverable against suitable future taxable profits.
Deferred tax is measured using 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.
Current and deferred tax assets and liabilities are not discounted.
Foreign currency transactions and balances
Investments
Investments are measured in the company's balance sheet at cost less any accumulated impairment.
An entity is treated as an associate where the company exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
Cash at bank and in hand
This comprises cash at bank.
Financial instruments including other fixed asset investments
Investments in unlisted investments which are not publicly traded and where fair value cannot be measured reliably are measured at cost less any accumulated impairment.
Investments are classified as fixed asset investments in the circumstances where the company's intention was to hold or advance them on a continuing basis.
Employee information |
The average number of persons employed by the company (including directors) during the year, was
Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investment in associates |
2023 |
2022 |
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Investment in associates |
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Associates |
£ |
Cost |
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At 1 January 2023 |
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At 31 December 2023 |
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Impairment |
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At 1 January 2023 |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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At 31 December 2022 |
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Details of associates are as follows:
Registered office |
Nature of capital |
Percentage of voting rights and shares held |
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2023 |
2022 |
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Name |
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Unitec House
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Ordinary shares |
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England |
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Unitec House
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Ordinary shares |
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England |
Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
4 |
Investment in associates (continued) |
Registered office |
Nature of capital |
Percentage of voting rights and shares held |
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Belfry House
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Ordinary shares |
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England |
Principal activity at 31 December 2023 |
Limanex Properties Limited The principal activity of Limanex Properties Limited is |
Universal Impex Limited The principal activity of Universal Impex Limited is |
Doonbeg Holdings Limited
Doonbeg Holdings Limited is inactive and only earns interest on its bank balances.
Other investments |
Unlisted investments
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Total |
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Cost |
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At 1 January 2023 |
232,526 |
232,526 |
Additions in the year |
23,338 |
23,338 |
At 31 December 2023 |
255,864 |
255,864 |
Carrying amount |
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At 31 December 2023 |
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255,864 |
At 31 December 2022 |
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232,526 |
Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Debtors |
Note |
2023 |
2022 |
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Amounts owed by associates |
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Other debtors |
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Creditors: amounts due within one year |
2023 |
2022 |
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Accruals |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
100 |
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100 |
Related party transactions |
Loans to related parties
2023 |
Associates |
At start of year |
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At end of year |
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2022 |
Associates |
At start of year |
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At end of year |
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Beamat Holdings Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
9 |
Related party transactions (continued) |
Terms of loans to related parties