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REGISTERED NUMBER: 05360233 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2024

for

BEP Industrial Supplies Ltd

BEP Industrial Supplies Ltd (Registered number: 05360233)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


BEP Industrial Supplies Ltd

Company Information
for the year ended 31 March 2024







DIRECTORS: M Folan
I Tootell





SECRETARY: I Tootell





REGISTERED OFFICE: Unit 11
Appleby Business Centre
Eden Street
Blackburn
Lancashire
BB1 3BL





REGISTERED NUMBER: 05360233 (England and Wales)





ACCOUNTANTS: Mayes Business Partnership Ltd
Chartered Certified Accountants
22-28 Willow Street
Accrington
Lancashire
BB5 1LP

BEP Industrial Supplies Ltd (Registered number: 05360233)

Abridged Balance Sheet
31 March 2024

31/3/24 31/3/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 137,554 180,811

CURRENT ASSETS
Stocks 996,034 928,087
Debtors 960,901 867,433
Cash at bank and in hand 1,144,347 806,918
3,101,282 2,602,438
CREDITORS
Amounts falling due within one year 976,637 957,223
NET CURRENT ASSETS 2,124,645 1,645,215
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,262,199

1,826,026

CREDITORS
Amounts falling due after more than one
year

(94,103

)

(4,887

)

PROVISIONS FOR LIABILITIES (20,128 ) (28,484 )
NET ASSETS 2,147,968 1,792,655

CAPITAL AND RESERVES
Called up share capital 6 102 102
Retained earnings 2,147,866 1,792,553
SHAREHOLDERS' FUNDS 2,147,968 1,792,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

BEP Industrial Supplies Ltd (Registered number: 05360233)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 21 August 2024 and were signed on its behalf by:




M Folan - Director



I Tootell - Director


BEP Industrial Supplies Ltd (Registered number: 05360233)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

BEP Industrial Supplies Ltd 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
The company is dedicated to the supply of thermoplastic materials into the UK market. Sales of goods are recognised on sale to the customer, which is considered the point of delivery. Sales are usually by credit.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

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

Financial instruments
Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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 balance sheet date.


BEP Industrial Supplies Ltd (Registered number: 05360233)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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.

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 15 (2023 - 18 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 315,902
Additions 12,356
Disposals (58,192 )
At 31 March 2024 270,066
DEPRECIATION
At 1 April 2023 135,091
Charge for year 43,839
Eliminated on disposal (46,418 )
At 31 March 2024 132,512
NET BOOK VALUE
At 31 March 2024 137,554
At 31 March 2023 180,811

BEP Industrial Supplies Ltd (Registered number: 05360233)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023 70,494
Disposals (18,500 )
Transfer to ownership (19,000 )
Reclassification/transfer 137,958
At 31 March 2024 170,952
DEPRECIATION
At 1 April 2023 32,367
Charge for year 38,412
Eliminated on disposal (10,696 )
Transfer to ownership (11,486 )
Reclassification/transfer 8,622
At 31 March 2024 57,219
NET BOOK VALUE
At 31 March 2024 113,733
At 31 March 2023 38,127

5. SECURED DEBTS

The following secured debts are included within creditors:

31/3/24 31/3/23
£    £   
Hire purchase contracts 125,220 19,877

Bank loans and overdrafts are secured by way of a fixed and floating charge over the Company's assets.

Amounts advanced on invoices are secured upon the associated invoices and Hire Purchase creditors are secured upon the associated assets.

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/24 31/3/23
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £0.01 1 1
100 Ordinary B £0.01 1 1
102 102

Ordinary share types Ordinary A and Ordinary B are non-voting shares and shall hold no rights other than that they may be considered separately by the Directors when declaring dividends from time to time.