Company registration number 02144184 (England and Wales)
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
372,387
389,314
Investments
4
1,412,092
1,264,401
1,784,479
1,653,715
Current assets
Debtors
5
287,971
249,222
Cash at bank and in hand
5,484
52,665
293,455
301,887
Creditors: amounts falling due within one year
6
(276,094)
(244,881)
Net current assets
17,361
57,006
Total assets less current liabilities
1,801,840
1,710,721
Creditors: amounts falling due after more than one year
7
(236,357)
(74,968)
Provisions for liabilities
8
(209,973)
(244,548)
Net assets
1,355,510
1,391,205
Capital and reserves
Called up share capital
9
159,000
159,000
Profit and loss reserves
1,196,510
1,232,205
Total equity
1,355,510
1,391,205
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -

For the financial 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.

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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 22 September 2024 and are signed on its behalf by:
Mr P Beard
Director
Company registration number 02144184 (England and Wales)
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

The Alexander Beard Group of Companies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 14-16 Rossmore Business Village, Inward Way, Ellesmere Port, Cheshire, CH65 3EY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

The following principal accounting policies have been applied.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Turnover represents income relating to fees and commissions from financial providers for advisers fees and ongoing charges, trail and renewal commissions. Income is recognised on an accruals basis for new business and cash received basis for ongoing revenue. Claw backs are provided on an accruals basis.

 

All other income relates to Dividend income from Group Companies.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 25 years.

 

For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2023 and 31 December 2023
904,422
Amortisation and impairment
At 1 January 2023
515,108
Amortisation charged for the year
16,927
At 31 December 2023
532,035
Carrying amount
At 31 December 2023
372,387
At 31 December 2022
389,314
4
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
1,074,592
926,901
Other investments other than loans
337,500
337,500
1,412,092
1,264,401
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Fixed asset investments
(Continued)
- 6 -
Movements in fixed asset investments
Shares in subsidiaries and associates
Other investments
Total
£
£
£
Cost or valuation
At 1 January 2023
926,901
337,500
1,264,401
Additions
250,000
-
250,000
Disposals
(95,000)
-
(95,000)
At 31 December 2023
1,081,901
337,500
1,419,401
Impairment
At 1 January 2023
-
-
-
Impairment losses
7,309
-
7,309
At 31 December 2023
7,309
-
7,309
Carrying amount
At 31 December 2023
1,074,592
337,500
1,412,092
At 31 December 2022
926,901
337,500
1,264,401
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
265,128
213,509
Amounts owed by undertakings in which the company has a participating interest
13,545
13,566
Other debtors
9,298
-
0
Prepayments and accrued income
-
0
22,147
287,971
249,222
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
9,900
10,100
Other borrowings
50,000
-
0
Trade creditors
26,994
2,913
Amounts owed to group undertakings
159,676
184,680
Amounts owed to undertakings in which the company has a participating interest
10,132
10,132
Taxation and social security
2,615
-
0
Other creditors
8,774
13,622
Accruals and deferred income
8,003
23,434
276,094
244,881

Bank loans are secured by fixed and floating charges over the company's assets with the company's bankers.

Included within other creditors due within one year is a loan to the directors, amounting to £nil (2022 - £5,463).

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,266
23,968
Other creditors
222,091
51,000
236,357
74,968
THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
8
Provisions for liabilities
2023
2022
£
£
Cyprus claim (Thomas)
65,701
95,392
Cyprus claim (Cooper)
144,272
149,156
209,973
244,548
Movements on provisions:
Cyprus claim (Thomas)
Cyprus claim (Cooper)
Total
£
£
£
At 1 January 2023
95,392
149,156
244,548
Utilisation of provision
(29,691)
(4,884)
(34,575)
At 31 December 2023
65,701
144,272
209,973

Cyprus claim (Thomas)

During the 13 month period to 31 December 2014 a claim was made against the company in respect of a particular product sold in the past by the Cyprus division. Provision was made for the uninsured liability payable, discounted over the agreed settlement period.

Cyprus claim (Cooper)

During the 12 month period to 31 December 2020 a claim was made against the company in respect of a particular product sold in the past by the Cyprus division. Provision was made for the uninsured liability payable, discounted over the agreed settlement period.

9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
159,000
159,000
159,000
159,000
2023
2022
2023
2022
Preference share capital
Number
Number
£
£
Issued and fully paid
Preference shares of £1 each
43,000
52,000
43,000
52,000
Preference shares classified as liabilities
43,000
52,000

On 31 January 2023, the company redeemed 1,000 preference shares at par. On 31 March 2023, the company redeemed, 2,000 preference shares at par. On 30 June 2023 the company redeemed 2,000 preference shares at par. On 30 September 2023, the company redeemed 2,000 preference shares at par. On 31 December 2023. the company redeemed 2,000 preference shares at par.

THE ALEXANDER BEARD GROUP OF COMPANIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
10
Related party transactions

Included within other debtors are amounts due from the directors totaling £9,298 (2022:Nil), this was fully repaid within 9 months of the year-end. The maximum amount due from directors during the year was £78,232.

11
Ultimate controlling party

Mr P Beard, a director of the company is the ultimate controlling party.

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