REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
T.g. Beighton Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 July 2023 |
for |
T.g. Beighton Limited |
T.g. Beighton Limited (Registered number: 01046617) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
T.g. Beighton Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
5 Westbrook Court |
Sharrowvale Road |
Sheffield |
South Yorkshire |
S11 8YZ |
T.g. Beighton Limited (Registered number: 01046617) |
Statement of Financial Position |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Revaluation reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
T.g. Beighton Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are preparing in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
Going Concern |
The financial statements have been prepared on the going concern basis. |
The company has sufficient finance to control its cashflow and support its working capital requirements to enable future planned growth. |
Having carried out a detailed review of the company's position and its forecasts to the date 12 months from the date of signing of these financial statements, the directors consider the company to have adequate resources to meet its liabilities as they fall due. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
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. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
2. | ACCOUNTING POLICIES - continued |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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 |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
AMORTISATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2022 |
Additions |
Disposals | ( |
) |
At 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows: |
2023 | 2022 |
£ | £ |
Motor vehicles | 420,835 | 230,710 |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
Revaluations | (102,702 | ) |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2021 | 1,356,100 |
Valuation in 2022 | 106,602 |
Valuation in 2023 | (102,702 | ) |
1,360,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 1,356,100 | 1,356,100 |
Aggregate depreciation | (46,333 | ) | (32,772 | ) |
Investment property was valued on an open market basis on 31 July 2023 by the directors . |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 10) |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Hire purchase contracts (see note 10) |
10. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable |
operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 382,578 | 206,466 |
The hire purchases are secured against the assets to which they relate. They are repayable by monthly installments with interest being charged monthly. |
The bank held a debenture over the assets of the company at 31 July 2023. |
12. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 90,545 | 48,127 |
Deferred tax |
£ |
Balance at 1 August 2022 |
Provided during year |
Balance at 31 July 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 88,000 | 88,000 |
14. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
15. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
16. | RELATED PARTY DISCLOSURES |
The following company is a related party as they are under common control of one or all of the directors: |
Face Structures Ltd |
During the year the company made purchases totalling £185,544 (2022: £185,074) from Face Structures Ltd. As at 31 July 2023 the company owed £267,487 (2022: £413,324) to Face Structures Ltd. |
Hastec Rail Ltd |
During the year the company made sales totalling £8,615 (2022: £123,115) to Hastec Rail Ltd. As at 31 July 2023 the company was owed £1,236 (2022: £21,163) by Hastec Rail Ltd. |
Elmec Solutions Ltd |
During the year the company made purchases totalling £NIL (2022: £3,652) from Elmec Solutions Ltd and sales totalling £NIL (2022: £26,645). As at 31 July 2023 the company owed £20,700 (2022: £25,270) to Elmec Solutions Ltd. |
Turnoaks Estates Ltd |
During the year the company loaned money totalling £NIL (2022: £957) to Turnoaks Estates Ltd. As at 31 July 2023 the company was owed £957 (2022: £957) by Turnoaks Estates Ltd. |
TGB Mechanical and Electrical Ltd |
During the year the company was owed £953,440 (2022: £699,802) by TGB Mechanical and Electrical Ltd. |
17. | POST BALANCE SHEET EVENTS |
On 5 March 2024 the entire issued share capital of the entity's parent company, C King Holdings Limited, was acquired by CK Eot Trustee Limited. CK Eot Trustee Limited, a company limited by guarantee, was incorporated to facilitate a transition to employee ownership for the group of companies under the control of C King Holdings Limited by way of an Employee Ownership Trust as defined by the Finance Act 2014. |
T.g. Beighton Limited (Registered number: 01046617) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
18. | ULTIMATE CONTROLLING PARTY |
As at 31 July 2023 the company's parent company was C K Rail Solutions Limited, a company which is incorporated in the UK. |
The company's ultimate parent company is C King Holdings Ltd, a company incorporated in the UK, which is the parent of both the smallest and largest group in which the results of the company are published. |
The financial statements of C King Holdings Ltd can be obtained from Companies House or the registered office. |
The directors do not consider there to be an ultimate controlling party. |