Caseware UK (AP4) 2023.0.135 2023.0.135 falsetrue152023-01-01falseNo description of principal activity16falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03799829 2023-01-01 2023-12-31 03799829 2022-01-01 2022-12-31 03799829 2023-12-31 03799829 2022-12-31 03799829 c:Director1 2023-01-01 2023-12-31 03799829 d:OfficeEquipment 2023-01-01 2023-12-31 03799829 d:OfficeEquipment 2023-12-31 03799829 d:OfficeEquipment 2022-12-31 03799829 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03799829 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03799829 d:OtherPropertyPlantEquipment 2023-12-31 03799829 d:OtherPropertyPlantEquipment 2022-12-31 03799829 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03799829 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03799829 d:CurrentFinancialInstruments 2023-12-31 03799829 d:CurrentFinancialInstruments 2022-12-31 03799829 d:CurrentFinancialInstruments 1 2023-12-31 03799829 d:CurrentFinancialInstruments 1 2022-12-31 03799829 d:Non-currentFinancialInstruments 2023-12-31 03799829 d:Non-currentFinancialInstruments 2022-12-31 03799829 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03799829 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03799829 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03799829 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03799829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03799829 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03799829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03799829 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03799829 d:ShareCapital 2023-12-31 03799829 d:ShareCapital 2022-12-31 03799829 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 03799829 d:RetainedEarningsAccumulatedLosses 2023-12-31 03799829 d:RetainedEarningsAccumulatedLosses 2022-12-31 03799829 c:OrdinaryShareClass1 2023-01-01 2023-12-31 03799829 c:OrdinaryShareClass1 2023-12-31 03799829 c:OrdinaryShareClass1 2022-12-31 03799829 c:FRS102 2023-01-01 2023-12-31 03799829 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03799829 c:FullAccounts 2023-01-01 2023-12-31 03799829 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03799829 d:WithinOneYear 2023-12-31 03799829 d:WithinOneYear 2022-12-31 03799829 d:BetweenOneFiveYears 2023-12-31 03799829 d:BetweenOneFiveYears 2022-12-31 03799829 d:MoreThanFiveYears 2023-12-31 03799829 d:MoreThanFiveYears 2022-12-31 03799829 2 2023-01-01 2023-12-31 03799829 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03799829










Beaver Architectural Ironmongery Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2023



 
Beaver Architectural Ironmongery Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Beaver Architectural Ironmongery Limited for the year ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beaver Architectural Ironmongery Limited for the year ended 31 December 2023 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Beaver Architectural Ironmongery Limited, as a body, in accordance with the terms of our engagement letter dated 8 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Beaver Architectural Ironmongery Limited and state those matters that we have agreed to state to the Board of directors of Beaver Architectural Ironmongery Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beaver Architectural Ironmongery Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Beaver Architectural Ironmongery Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Beaver Architectural Ironmongery Limited. You consider that Beaver Architectural Ironmongery Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Beaver Architectural Ironmongery Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
20 August 2024
Page 1

 
Beaver Architectural Ironmongery Limited
Registered number: 03799829

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
2,631
3,567

Current assets
  

Stocks
  
486,641
537,283

Debtors: amounts falling due within one year
 6 
394,003
352,362

Cash at bank and in hand
  
18,308
67,001

  
898,952
956,646

Creditors: amounts falling due within one year
 7 
(853,091)
(892,206)

Net current assets
  
 
 
45,861
 
 
64,440

Total assets less current liabilities
  
48,492
68,007

Creditors: amounts falling due after more than one year
 8 
(14,806)
(24,696)

  

Net assets
  
33,686
43,311


Capital and reserves
  

Called up share capital 
 10 
40,000
40,000

Profit and loss account
 11 
(6,314)
3,311

  
33,686
43,311


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 August 2024.




G Bevan
Director

Page 2

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Beaver Architectural Ironmongery Limited is a limited liability company incorporated in England and Wales. The company's registered office is Unit 24, Silverwing Industrial Estate, Imperial Way, Croydon, Surrey, CR0 4RR.  
The principal activity of the company for the year under review was the provision of architectural ironmongery to the building trade.  
The company's functional and presentational currency is Pounds Sterling.
The company's financial statements are presented to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has adequate financial resources and the directors believe that it is well placed to manage its business risks successfully despite the current uncertain economic outlook.
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.  Accordingly, they continue to adopt the going concern basis in preparing the accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 3

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 4

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Furniture, fittings & equipment
-
10% straight line
Other fixed assets
-
20% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 5

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 6

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires the Directors to make judgements, estimates and assumptions that can affect the amounts reported for assets and liabilities, and the results for the year. The nature of estimation is such though that actual outcomes could differ significantly from those estimates. 
The following judgements have had the most significant impact on amounts recognised in the financial statements:
Lease commitments
The company has entered into a range of lease commitments in respect of property, plant and equipment.  The classification of these leases as either financial or operating leases requires the directors to consider whether the terms and conditions of each lease are such that the company has acquired the risks and rewards associated with the ownership of the underlying assets.


4.


Employees

The average monthly number of employees, including directors, during the year was 15 (2022 - 16).


5.


Tangible fixed assets





Furniture, fittings and equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
143,771
6,143
149,914



At 31 December 2023

143,771
6,143
149,914



Depreciation


At 1 January 2023
140,204
6,143
146,347


Charge for the year on owned assets
936
-
936



At 31 December 2023

141,140
6,143
147,283



Net book value



At 31 December 2023
2,631
-
2,631



At 31 December 2022
3,567
-
3,567

Page 7

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
370,921
275,691

Other debtors
-
2,143

Prepayments and accrued income
23,082
74,528

394,003
352,362



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
10,140
10,141

Trade creditors
311,816
349,142

Corporation tax
174,694
150,751

Other taxation and social security
35,538
44,281

Proceeds of factored debts
285,304
246,646

Other creditors
20,716
36,651

Accruals and deferred income
14,883
54,594

853,091
892,206


The company discounts up to 90% of its trade debts.  The proportion of trade debtors advanced by Royal Bank of Scotland Commercial Services, including charges, totalled £285,304 (2022: £246,646), and this is included as an invoice discounting loan.
The company has a debenture in place with National Westminster Bank plc, which covers all monies owed to the bank and secured by way of a fixed and floating charge over all property and assets.
The company also has a fixed and floating charge in place with The Royal Bank of Scotland covering all monies due to the bank.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
14,806
24,696

14,806
24,696


The company has obtained Government Support through the Bounce Back Loan Scheme and was granted a six year loan of £50,000.

Page 8

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
10,140
10,141

Amounts falling due 1-2 years

Other loans
14,806
9,890

Amounts falling due 2-5 years

Other loans
-
14,806


24,946
34,837



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



40,000 (2022 - 40,000) Ordinary shares of £1.00 each
40,000
40,000



11.


Reserves

Profit & loss account

This reserve comprises all current and prior period retained profits and losses after deducting any distributions made to the company's shareholders. 


12.


Pension commitments

The company operates a defined contributions pension scheme.  The assets of the scheme are held separately from those of the company in an independently administered fund.  The pension cost charge represents contributions payable by the company to the fund and amounted to £23,566 (2022: £26,196). Pension contributions of £nil (2022: £1,994) were payable to the fund at the balance sheet date.

Page 9

 
Beaver Architectural Ironmongery Limited
 

 
Notes to the financial statements
For the year ended 31 December 2023

13.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
74,540
79,406

Later than 1 year and not later than 5 years
274,106
281,146

Later than 5 years
73,125
208,125

421,771
568,677


14.


Controlling party

The company is controlled collectively by the directors and shareholders: G Bevan, M Lansley and L Wilson.


Page 10