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REGISTERED NUMBER: 09309022 (England and Wales)













Financial Statements

For The Year Ended 30 November 2023

for

Beckside Machinery Limited

Beckside Machinery Limited (Registered number: 09309022)






Contents of the Financial Statements
For The Year Ended 30 November 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Beckside Machinery Limited

Company Information
For The Year Ended 30 November 2023







DIRECTORS: Mrs K L Marks
Mr J A Marks



REGISTERED OFFICE: Beckside Farm
Caistor Road
Osgodby
MARKET RASEN
Lincolnshire
LN8 3SY



REGISTERED NUMBER: 09309022 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: HSBC
Cornmarket
LOUTH
Lincolnshire
LN11 9QB

Beckside Machinery Limited (Registered number: 09309022)

Statement of Financial Position
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 37,056 43,601

CURRENT ASSETS
Stocks 812,545 778,931
Debtors 5 15,752 8,906
Cash at bank and in hand 365,110 83,863
1,193,407 871,700
CREDITORS
Amounts falling due within one year 6 416,532 636,165
NET CURRENT ASSETS 776,875 235,535
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,931

279,136

CREDITORS
Amounts falling due after more than
one year

7

(24,821

)

(45,008

)

PROVISIONS FOR LIABILITIES (7,001 ) (8,410 )
NET ASSETS 782,109 225,718

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 782,108 225,717
SHAREHOLDERS' FUNDS 782,109 225,718

Beckside Machinery Limited (Registered number: 09309022)

Statement of Financial Position - continued
30 November 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:





Mr J A Marks - Director


Beckside Machinery Limited (Registered number: 09309022)

Notes to the Financial Statements
For The Year Ended 30 November 2023

1. STATUTORY INFORMATION

Beckside Machinery 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.

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

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.
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Beckside Machinery Limited (Registered number: 09309022)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

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.

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Beckside Machinery Limited (Registered number: 09309022)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022
and 30 November 2023 16,840 45,856 417 63,113
DEPRECIATION
At 1 December 2022 9,144 9,986 382 19,512
Charge for year 1,154 5,380 11 6,545
At 30 November 2023 10,298 15,366 393 26,057
NET BOOK VALUE
At 30 November 2023 6,542 30,490 24 37,056
At 30 November 2022 7,696 35,870 35 43,601

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 December 2022
and 30 November 2023 16,840
DEPRECIATION
At 1 December 2022 9,144
Charge for year 1,154
At 30 November 2023 10,298
NET BOOK VALUE
At 30 November 2023 6,542
At 30 November 2022 7,696

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 15,752 8,906

Beckside Machinery Limited (Registered number: 09309022)

Notes to the Financial Statements - continued
For The Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 14,414
Hire purchase contracts 11,928 11,928
Trade creditors 46,501 389,273
Tax 191,982 85,790
Social security and other taxes 2,243 9,704
VAT 114,169 98,207
Other creditors 8,048 617
Directors' current accounts 28,631 23,232
Accrued expenses 3,030 3,000
416,532 636,165

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 15,000 20,000
Bank loans - 2-5 years - 4,924
Hire purchase contracts 9,821 20,084
24,821 45,008

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase 21,749 32,012

Hire purchase finance is secured on the asset to which it relates.

9. RELATED PARTY DISCLOSURES

Included in creditors was an unsecured and interest free balance of £28,632 (2022: £23,232) owed to Mr J A Marks and Mrs K L Marks.

The directors have provided personal guarantees for the bank loan, which comprises a Government 'Bounce back' loan.