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COMPANY REGISTRATION NUMBER: 05743350
THE BEAT-HERDER LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
THE BEAT-HERDER LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 6
THE BEAT-HERDER LIMITED
BALANCE SHEET
30 November 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
6
12,432
2,979
Current assets
Debtors
7
28,566
167,961
Cash at bank and in hand
342,660
595,115
------------
------------
371,226
763,076
Creditors: amounts falling due within one year
8
( 13,165)
( 228,552)
------------
------------
Net current assets
358,061
534,524
------------
------------
Total assets less current liabilities
370,493
537,503
Creditors: amounts falling due after more than one year
9
( 18,333)
( 28,333)
Provisions
Taxation including deferred tax
( 3,108)
( 566)
------------
------------
Net assets
349,052
508,604
------------
------------
Capital and reserves
Called up share capital
11
120
120
Profit and loss account
348,932
508,484
------------
------------
Shareholders funds
349,052
508,604
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
THE BEAT-HERDER LIMITED
BALANCE SHEET (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 18 September 2024 , and are signed on behalf of the board by:
N R Chambers
Director
Company registration number: 05743350
THE BEAT-HERDER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover represents the value of goods sold and services provided net of value added tax.
Deferred taxation
Deferred tax is provided on the liability method at anticipated future rates of taxation on differences arising from the inclusion of income and expenditure in periods different for accounts and taxation purposes.
Lease costs
Payments under operating leases are charged to the profit and loss account when paid.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and equipment
-
25% reducing balance
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Turnover
The company's turnover is derived entirely within the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 6 ).
6. Tangible assets
Plant and machinery
Fixtures and fittings
Total
£
£
£
Cost
At 1 December 2022
9,404
9,404
Additions
12,000
597
12,597
------------
------------
------------
At 30 November 2023
12,000
10,001
22,001
------------
------------
------------
Depreciation
At 1 December 2022
6,425
6,425
Charge for the year
2,250
894
3,144
------------
------------
------------
At 30 November 2023
2,250
7,319
9,569
------------
------------
------------
Carrying amount
At 30 November 2023
9,750
2,682
12,432
------------
------------
------------
At 30 November 2022
2,979
2,979
------------
------------
------------
7. Debtors
2023
2022
£
£
Trade debtors
149,961
Corporation tax repayable
7,748
Directors' loan account
18,000
Other debtors
20,818
------------
------------
28,566
167,961
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loan
10,000
10,000
Accruals and deferred income
3,165
3,165
Corporation tax
197,297
Social security and other taxes
18,090
------------
------------
13,165
228,552
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loan
18,333
28,333
------------
------------
10. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
3,108
566
------------
------------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
£
£
Accelerated capital allowances
3,108
566
------------
------------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
120
120
120
120
------------
------------
------------
------------
12. Related party transactions
The company has provided a cross guarantee and debenture in support of the bank borrowings of Purple Girder Limited, a company controlled by the directors. The directors' loan account included in debtors above was unsecured, interest free, and was repaid in the year. There is no one controlling party of the company.
13. Lease commitments
The company occupies its premises on a short-term rental basis.