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Registered Number: 03850298
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

G. K. BEAULAH & COMPANY LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 3,145    3,932 
3,145    3,932 
Current assets      
Stocks 4 36,323    32,408 
Debtors 5 20,089    31,571 
Cash at bank and in hand 77,650    73,344 
134,062    137,323 
Creditors: amount falling due within one year 6 (47,070)   (52,907)
Net current assets 86,992    84,416 
 
Total assets less current liabilities 90,137    88,348 
Provisions for liabilities 7 (598)   (747)
Net assets 89,539    87,601 
 

Capital and reserves
     
Called up share capital 7,338    7,338 
Share premium account 8 25,324    25,324 
Capital Redemption Reserve 9 7,338    7,338 
Profit and loss account 49,539    47,601 
Shareholders' funds 89,539    87,601 
 


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 10 September 2024 and were signed on its behalf by:


-------------------------------
C R Beaulah
Director
1
General Information
G. K. Beaulah & Company Limited is a private company, limited by shares, registered in England and Wales, registration number 03850298, registration address Heritage House, 23 Park Street, Hull , East Yorkshire, HU2 8RU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Fixtures and Fittings 20% Reducing Balance
Computer Equipment 20% 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 12 (2022 : 15).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 January 2023 26,827    28,575    35,380    90,782 
Additions      
Disposals      
At 31 December 2023 26,827    28,575    35,380    90,782 
Depreciation
At 01 January 2023 24,944    27,315    34,591    86,850 
Charge for year 377    252    158    787 
On disposals      
At 31 December 2023 25,321    27,567    34,749    87,637 
Net book values
Closing balance as at 31 December 2023 1,506    1,008    631    3,145 
Opening balance as at 01 January 2023 1,883    1,260    789    3,932 


4.

Stocks

2023
£
  2022
£
Stocks 36,323    32,408 
36,323    32,408 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 12,747    25,097 
Prepayments & Accrued Income 7,342    6,327 
Other Debtors   147 
20,089    31,571 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 7,041    10,975 
PAYE & Social Security 6,066    4,649 
Accrued Expenses 16,193    18,783 
Deferred Income   3,312 
Other Creditors 6,310   
Directors' Current Accounts 561    4,290 
VAT 10,899    10,898 
47,070    52,907 

7.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 747    934 
Charged to Profit & Loss (149)   (187)
598    747 

8.

Share premium account

2023
£
  2022
£
Equity Share Premium b/fwd 25,324    25,324 
25,324    25,324 

9.

Capital Redemption Reserve

2023
£
  2022
£
Capital Redemption Reserve b/fwd 7,338    7,338 
7,338    7,338 

2