Registered number
11996198
Beesdirect Ltd
Unaudited Filleted Accounts
31 December 2023
Beesdirect Ltd
Registered number: 11996198
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 24 609
Tangible assets 4 43,771 91,808
43,795 92,417
Current assets
Stocks 595,347 672,043
Debtors 5 18,086 37,985
Cash at bank and in hand 146,994 22,127
760,427 732,155
Creditors: amounts falling due within one year 6 (82,800) (90,251)
Net current assets 677,627 641,904
Total assets less current liabilities 721,422 734,321
Creditors: amounts falling due after more than one year 7 (385,374) (339,893)
Provisions for liabilities - (9,082)
Net assets 336,048 385,346
Capital and reserves
Called up share capital 100 100
Profit and loss account 335,948 385,246
Shareholders' funds 336,048 385,346
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.
Mr R Roberts
Director
Approved by the board on 18 September 2024
Beesdirect Ltd
Notes to the Accounts
for the year ended 31 December 2023
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).
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
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:
Vehicles over 4 years
Computer equipment over 3 years
Fixtures, fittings, tools and equipment over 4 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 10
3 Intangible fixed assets £
Cost
At 1 January 2023 1,760
At 31 December 2023 1,760
Amortisation
At 1 January 2023 1,151
Provided during the year 585
At 31 December 2023 1,736
Net book value
At 31 December 2023 24
At 31 December 2022 609
Intangible assets are being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 127,684 67,422 195,106
Additions 1,998 - 1,998
Disposals - (3,663) (3,663)
At 31 December 2023 129,682 63,759 193,441
Depreciation
At 1 January 2023 67,192 36,106 103,298
Charge for the year 32,394 13,978 46,372
At 31 December 2023 99,586 50,084 149,670
Net book value
At 31 December 2023 30,096 13,675 43,771
At 31 December 2022 60,492 31,316 91,808
5 Debtors 2023 2022
£ £
Trade debtors 4,614 8,433
Other debtors 13,472 29,552
18,086 37,985
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 53,688 47,548
Taxation and social security costs 13,213 8,650
Other creditors 15,899 34,053
82,800 90,251
7 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to parent undertakings 385,374 339,893
8 Controlling party
The company has taken the exemption in section 1AC.35 of FRS102 from disclosing related party transactions with 100% owned group companies.
9 Other information
Beesdirect Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Hameldown House
Hameldown Road
Exeter Road Industrial Estate
Okehampton, Devon
EX20 1UB
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