A.E. Beckett & Sons (Developments) Limited 01145746 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is property development, farm building maintenance and property management Digita Accounts Production Advanced 6.30.9574.0 true false 01145746 2023-01-01 2023-12-31 01145746 2023-12-31 01145746 bus:OrdinaryShareClass1 2023-12-31 01145746 core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 01145746 core:RetainedEarningsAccumulatedLosses 2023-12-31 01145746 core:ShareCapital 2023-12-31 01145746 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 01145746 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 01145746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 01145746 bus:SmallEntities 2023-01-01 2023-12-31 01145746 bus:Audited 2023-01-01 2023-12-31 01145746 bus:FullAccounts 2023-01-01 2023-12-31 01145746 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01145746 bus:RegisteredOffice 2023-01-01 2023-12-31 01145746 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 01145746 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 01145746 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01145746 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 01145746 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01145746 1 2023-01-01 2023-12-31 01145746 countries:AllCountries 2023-01-01 2023-12-31 01145746 2022-12-31 01145746 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 01145746 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 01145746 2022-01-01 2022-12-31 01145746 2022-12-31 01145746 bus:OrdinaryShareClass1 2022-12-31 01145746 core:AcceleratedTaxDepreciationDeferredTax 2022-12-31 01145746 core:RetainedEarningsAccumulatedLosses core:PreviouslyStatedAmount 2022-12-31 01145746 core:ShareCapital core:PreviouslyStatedAmount 2022-12-31 01145746 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 01145746 core:CurrentFinancialInstruments core:WithinOneYear core:PreviouslyStatedAmount 2022-12-31 01145746 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 01145746 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 01145746 core:PreviouslyStatedAmount 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01145746

A.E. Beckett & Sons (Developments) Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

A.E. Beckett & Sons (Developments) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 8

 

A.E. Beckett & Sons (Developments) Limited

Company Information

Directors

S Beckett

Company secretary

S Beckett

Registered office

Heath Farm
Alcester Road
Wythall
Birmingham
B47 6AJ

Auditors

Bissell & Brown Midlands Ltd
Statutory Auditor
Charter House
56 High Street
Sutton Coldfield
West Midlands
B72 1UJ

 

A.E. Beckett & Sons (Developments) Limited

(Registration number: 01145746)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

680,041

709,661

Current assets

 

Debtors

6

625,706

450,319

Creditors: Amounts falling due within one year

7

(49,886)

(36,645)

Net current assets

 

575,820

413,674

Total assets less current liabilities

 

1,255,861

1,123,335

Provisions for liabilities

(38,973)

(41,149)

Net assets

 

1,216,888

1,082,186

Capital and reserves

 

Called up share capital

8

1,000

1,000

Profit and loss account

1,215,888

1,081,186

Total equity

 

1,216,888

1,082,186

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report or the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 April 2024 and signed on its behalf by:
 

.........................................
S Beckett
Company secretary and director

   
     
 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales. The company's registration number is 01145746.

The address of its registered office is:
Heath Farm
Alcester Road
Wythall
Birmingham
B47 6AJ
United Kingdom

These financial statements were authorised for issue by the Board on 10 April 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Audit report

The Independent Auditor's Report was qualified. The company do not classify any of its freehold property as investment property. It continues to treat all property as “Property, Plant and Equipment” and to recognise in the Balance Sheet at depreciated historical cost. This policy is not in accordance with Financial Reporting Standard 102 (FRS102) which defines Investment Property as property (land and building, or part of a building, or both) held by the owner, or by the trustee under a finance lease, to earn rentals or for capital appreciation or both. FRS102 requires that investment property is carried at its fair value (being the properties’ market value) at each Balance Sheet date, with any gains or losses being recognised in the profit and loss accounts for the year.. The name of the Senior Statutory Auditor who signed the audit report on 10 April 2024 was Paul Matthews, who signed for and on behalf of Bissell & Brown Midlands Ltd.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Trade debtors

Trade debtors which are receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price. Trade debtors are subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses.

Where the arrangement with a trade debtor constitutes a financing transaction, the debtor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar debt instrument.

A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for the excess of the carrying value of the trade debtor over the present value of the future cash flows discounted using the original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event occurring after the impairment loss was recognised, are recognised immediately in profit or loss.

Financial liabilities and equity

Financial instruments are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Trade creditors

Trade creditors payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.

Where the arrangement with a trade creditor constitutes a financing transaction, the creditor is initially and subsequently measured at the present value of future payments discounted at a market rate of interest for a similar instrument.

Borrowings

Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Commitments to receive a loan are measured at cost less impairment.

 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Derecognition of financial assets and liabilities

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. A financial liability (or part thereof) is derecognised when the obligation specified in the contract is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed (including directors) during the year was 2 (2022 - 2).

4

Taxation

 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

4

Taxation (continued)

Deferred tax

Deferred tax assets and liabilities

2023

Liability
£

Accelerated tax depreciation

38,973

   

2022

Liability
£

Accelerated tax depreciation

41,149

   

5

Tangible assets

Land and buildings
£

Improvements to property
£

Total
£

Cost or valuation

At 1 January 2023

826,975

1,227,296

2,054,271

At 31 December 2023

826,975

1,227,296

2,054,271

Depreciation

At 1 January 2023

307,905

1,036,705

1,344,610

Charge for the year

16,539

13,081

29,620

At 31 December 2023

324,444

1,049,786

1,374,230

Carrying amount

At 31 December 2023

502,531

177,510

680,041

At 31 December 2022

519,070

190,591

709,661

Included within the net book value of land and buildings above is £502,531 (2022 - £519,070) in respect of freehold land and buildings.
 

6

Debtors

Note

2023
£

2022
£

Amounts owed by related parties

9

625,706

450,319

 

625,706

450,319

 

A.E. Beckett & Sons (Developments) Limited

Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Corporation tax liability

 

49,886

36,645

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1,000

1,000

1,000

1,000

         

Rights, preferences and restrictions

Ordinary shares have the following rights, preferences and restrictions:
Holders of the ordinary share capital have a right to vote and receive dividends.

9

Related party transactions

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 entities within the group.

10

Parent and ultimate parent undertaking

The company's immediate parent is A E Beckett & Sons Limited, incorporated in England.

 The ultimate controlling party is Mr S Beckett.