R M Beckett Limited 07064816 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the training of thoroughbred racehorses. Digita Accounts Production Advanced 6.30.9574.0 true 07064816 2023-01-01 2023-12-31 07064816 2023-12-31 07064816 bus:Director1 1 2023-12-31 07064816 bus:Director2 1 2023-12-31 07064816 core:CurrentFinancialInstruments 2023-12-31 07064816 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07064816 core:Non-currentFinancialInstruments 2023-12-31 07064816 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07064816 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 07064816 core:MotorVehicles 2023-12-31 07064816 core:PlantMachinery 2023-12-31 07064816 bus:SmallEntities 2023-01-01 2023-12-31 07064816 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 07064816 bus:FilletedAccounts 2023-01-01 2023-12-31 07064816 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 07064816 bus:RegisteredOffice 2023-01-01 2023-12-31 07064816 bus:Director1 2023-01-01 2023-12-31 07064816 bus:Director1 1 2023-01-01 2023-12-31 07064816 bus:Director2 2023-01-01 2023-12-31 07064816 bus:Director2 1 2023-01-01 2023-12-31 07064816 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07064816 core:Goodwill 2023-01-01 2023-12-31 07064816 core:LandBuildings 2023-01-01 2023-12-31 07064816 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07064816 core:MotorVehicles 2023-01-01 2023-12-31 07064816 core:PlantMachinery 2023-01-01 2023-12-31 07064816 countries:EnglandWales 2023-01-01 2023-12-31 07064816 2022-12-31 07064816 bus:Director1 1 2022-12-31 07064816 bus:Director2 1 2022-12-31 07064816 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 07064816 core:MotorVehicles 2022-12-31 07064816 core:PlantMachinery 2022-12-31 07064816 2022-01-01 2022-12-31 07064816 2022-12-31 07064816 bus:Director1 1 2022-12-31 07064816 bus:Director2 1 2022-12-31 07064816 core:CurrentFinancialInstruments 2022-12-31 07064816 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 07064816 core:Non-currentFinancialInstruments 2022-12-31 07064816 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 07064816 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 07064816 core:MotorVehicles 2022-12-31 07064816 core:PlantMachinery 2022-12-31 07064816 bus:Director1 1 2022-01-01 2022-12-31 07064816 bus:Director2 1 2022-01-01 2022-12-31 07064816 bus:Director1 1 2021-12-31 07064816 bus:Director2 1 2021-12-31 iso4217:GBP xbrli:pure

Registration number: 07064816

R M Beckett Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

R M Beckett Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

R M Beckett Limited

(Registration number: 07064816)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

7,754,794

5,417,485

Current assets

 

Stocks

5

169,937

280,197

Debtors

6

1,314,891

880,692

Cash at bank and in hand

 

1,098,669

535,451

 

2,583,497

1,696,340

Creditors: Amounts falling due within one year

7

(1,177,219)

(661,728)

Net current assets

 

1,406,278

1,034,612

Total assets less current liabilities

 

9,161,072

6,452,097

Creditors: Amounts falling due after more than one year

7

(1,913,979)

(473,395)

Provisions for liabilities

(91,394)

(101,699)

Net assets

 

7,155,699

5,877,003

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7,155,599

5,876,903

Shareholders' funds

 

7,155,699

5,877,003

 

R M Beckett Limited

(Registration number: 07064816)
Balance Sheet as at 31 December 2023

For the financial year ending 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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 September 2024 and signed on its behalf by:
 

.........................................
I M Beckett
Director

 

R M Beckett Limited

Notes to the Unaudited 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 and Wales.

The address of its registered office is:
Kimpton Down Stables
Kimpton Down
Andover
Hampshire
SP11 8PQ

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

 

R M Beckett Limited

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

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.

 

R M Beckett Limited

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

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:

Asset class

Depreciation method and rate

Freehold property

2% straight line basis

Plant and machinery

25% straight line basis

Motor vehicles

25% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

R M Beckett Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 48 (2022 - 47).

 

R M Beckett Limited

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

4

Tangible assets

Freehold property
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

5,747,739

348,931

339,964

6,436,634

Additions

2,377,713

29,131

75,595

2,482,439

Disposals

-

-

(19,550)

(19,550)

At 31 December 2023

8,125,452

378,062

396,009

8,899,523

Depreciation

At 1 January 2023

520,856

205,846

292,447

1,019,149

Charge for the year

59,613

51,213

25,304

136,130

Eliminated on disposal

-

-

(10,550)

(10,550)

At 31 December 2023

580,469

257,059

307,201

1,144,729

Carrying amount

At 31 December 2023

7,544,983

121,003

88,808

7,754,794

At 31 December 2022

5,226,883

143,085

47,517

5,417,485

 

R M Beckett Limited

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

5

Stocks

2023
£

2022
£

Bloodstock, feed and bedding

169,937

280,197

6

Debtors

Current

2023
£

2022
£

Trade debtors

890,240

567,015

Prepayments

34,317

28,170

Other debtors

390,334

285,507

 

1,314,891

880,692

 

R M Beckett Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

131,309

43,212

Trade creditors

 

238,780

279,059

Taxation and social security

 

657,520

261,034

Other creditors

 

149,610

78,423

 

1,177,219

661,728

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

1,913,979

473,395

8

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Bank borrowings

131,309

43,212

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

1,913,979

473,395

 

R M Beckett Limited

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

9

Related party transactions

Transactions with directors

2023

At 1 January 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

R M Beckett

Director loan account

(59,132)

(103,047)

45,000

(117,179)

I M Beckett

Director loan account

(203,015)

(106,546)

59,767

(249,794)

2022

At 1 January 2022
£

Advances to director
£

Repayments by director
£

At 31 December 2022
£

R M Beckett

Director loan account

(28,593)

(120,539)

90,000

(59,132)

I M Beckett

Director loan account

(199,512)

(83,298)

79,795

(203,015)