Registered number
11506734
Bethcar DP Ltd
Filleted Accounts
31 March 2024
Bethcar DP Ltd
Registered number: 11506734
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Intangible assets 3 900,000 900,000
Tangible assets 4 553,735 562,754
1,453,735 1,462,754
Current assets
Stocks 15,000 15,000
Cash at bank and in hand 125,650 138,171
140,650 153,171
Creditors: amounts falling due within one year 5 (336,695) (336,233)
Net current liabilities (196,045) (183,062)
Total assets less current liabilities 1,257,690 1,279,692
Creditors: amounts falling due after more than one year 6 (635,750) (676,651)
Net assets 621,940 603,041
Capital and reserves
Called up share capital 100 100
Profit and loss account 621,840 602,941
Shareholders' funds 621,940 603,041
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Morgan
Director
Approved by the board on 3 September 2024
Bethcar DP Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 16 16
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 900,000
At 31 March 2024 900,000
Amortisation
At 31 March 2024 -
Net book value
At 31 March 2024 900,000
At 31 March 2023 900,000
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2023 325,000 228,977 45,370 599,347
Additions - 1,995 41,513 43,508
At 31 March 2024 325,000 230,972 86,883 642,855
Depreciation
At 1 April 2023 - 33,568 3,025 36,593
Charge for the year - 39,215 13,312 52,527
At 31 March 2024 - 72,783 16,337 89,120
Net book value
At 31 March 2024 325,000 158,189 70,546 553,735
At 31 March 2023 325,000 195,409 42,345 562,754
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 97,828 90,436
Obligations under finance lease and hire purchase contracts 39,171 30,492
Trade creditors 77,053 183,190
Taxation and social security costs 43,123 1,165
Other creditors 79,520 30,950
336,695 336,233
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 570,479 610,968
Obligations under finance lease and hire purchase contracts 65,271 65,683
635,750 676,651
7 Loans to directors
At the year end, the Company owed the directors, R Morgan & L Morgan £79,520 (2023: £30,950)
8 Controlling party
There is no controlling party.
9 Other information
Bethcar DP Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Avenue Crescent
Abergavenny
Gwent
NP7 7DE
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