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REGISTERED NUMBER: 00851234 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 30 April 2024

for

Beard & Fitch Limited

Beard & Fitch Limited (Registered number: 00851234)

Contents of the Financial Statements
For The Year Ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Beard & Fitch Limited

Company Information
For The Year Ended 30 April 2024







DIRECTORS: Mr A K Archer
Mr G Archer
Mr C R Archer





REGISTERED OFFICE: C/o Bury Cottage
2 St Johns Avenue
Old Harlow
Essex
CM17 0AY





REGISTERED NUMBER: 00851234 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
Chartered Accountants
10/12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Beard & Fitch Limited (Registered number: 00851234)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 985 552
Tangible assets 5 239,520 248,771
240,505 249,323

CURRENT ASSETS
Stocks 6 538,759 529,675
Debtors 7 586,494 463,217
Cash at bank 21,097 4,281
1,146,350 997,173
CREDITORS
Amounts falling due within one year 8 762,595 590,157
NET CURRENT ASSETS 383,755 407,016
TOTAL ASSETS LESS CURRENT
LIABILITIES

624,260

656,339

CREDITORS
Amounts falling due after more than one
year

9

(104,717

)

(203,948

)

PROVISIONS FOR LIABILITIES 11 (35,871 ) (38,776 )
NET ASSETS 483,672 413,615

CAPITAL AND RESERVES
Called up share capital 12 296,327 296,327
Revaluation reserve 13 113,843 113,843
Retained earnings 13 73,502 3,445
SHAREHOLDERS' FUNDS 483,672 413,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Beard & Fitch Limited (Registered number: 00851234)

Statement of Financial Position - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:




Mr A K Archer - Director



Mr G Archer - Director


Beard & Fitch Limited (Registered number: 00851234)

Notes to the Financial Statements
For The Year Ended 30 April 2024


1. STATUTORY INFORMATION

Beard & Fitch Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 20% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 30% on reducing balance

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Beard & Fitch Limited (Registered number: 00851234)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Short term creditors are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Beard & Fitch Limited (Registered number: 00851234)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 27 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023 650
Additions 778
At 30 April 2024 1,428
AMORTISATION
At 1 May 2023 98
Charge for year 345
At 30 April 2024 443
NET BOOK VALUE
At 30 April 2024 985
At 30 April 2023 552

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 May 2023 39,430 1,699,375 61,386 14,750 1,814,941
Additions - 43,072 2,239 - 45,311
Disposals - - - (14,750 ) (14,750 )
At 30 April 2024 39,430 1,742,447 63,625 - 1,845,502
DEPRECIATION
At 1 May 2023 37,999 1,454,912 58,919 14,340 1,566,170
Charge for year 305 52,995 852 - 54,152
Eliminated on disposal - - - (14,340 ) (14,340 )
At 30 April 2024 38,304 1,507,907 59,771 - 1,605,982
NET BOOK VALUE
At 30 April 2024 1,126 234,540 3,854 - 239,520
At 30 April 2023 1,431 244,463 2,467 410 248,771

Beard & Fitch Limited (Registered number: 00851234)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024


5. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 30 April 2024 is represented by:

Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2010 - 8,592 - 8,592
Valuation in 2021 - 129,940 - 129,940
Cost 39,430 1,603,915 63,625 1,706,970
39,430 1,742,447 63,625 1,845,502

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 466,492
DEPRECIATION
At 1 May 2023 409,356
Charge for year 11,427
At 30 April 2024 420,783
NET BOOK VALUE
At 30 April 2024 45,709
At 30 April 2023 57,136

6. STOCKS
2024 2023
£    £   
Stocks 538,759 529,675

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 456,889 335,035
Other debtors 129,605 128,182
586,494 463,217

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 435,783 322,137
Hire purchase contracts 29,949 40,000
Trade creditors 125,044 166,885
Taxation and social security 66,501 50,056
Other creditors 105,318 11,079
762,595 590,157

Beard & Fitch Limited (Registered number: 00851234)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2024


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 104,717 173,987
Hire purchase contracts - 29,961
104,717 203,948

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 375,783 262,137
Bank loans 164,717 233,987
Hire purchase contracts 29,949 69,961
570,449 566,085

The bank loans are secured on a fixed charge over the freehold property and a floating charge over other assets.

Hire purchase liabilities are secured upon the assets concerned.

11. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 35,871 38,776

Deferred
tax
£   
Balance at 1 May 2023 38,776
Provided during year (2,905 )
Movement in year
Balance at 30 April 2024 35,871

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
296,327 Ordinary £1 296,327 296,327

13. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 May 2023 3,445 113,843 117,288
Profit for the year 79,057 79,057
Dividends (9,000 ) (9,000 )
At 30 April 2024 73,502 113,843 187,345