2023-01-012023-12-312023-12-31false09932354BEC Distribution 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BEC Distribution Ltd

Registered Number
09932354
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

BEC Distribution Ltd
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

Dr Farshid Azadegan

Company Secretary

Reyhaneh Aria

Registered Address

4 Edging Lane
Windsor Park
Buckingham
MK18 7SD

Registered Number

09932354 (England and Wales)
BEC Distribution Ltd
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3299,934309,843
Tangible assets4-96
299,934309,939
Current assets
Stocks5125,396207,702
Debtors610,67083,072
Cash at bank and on hand18,755-
154,821290,774
Creditors amounts falling due within one year7(100,803)(128,414)
Net current assets (liabilities)54,018162,360
Total assets less current liabilities353,952472,299
Creditors amounts falling due after one year8(417,417)(433,767)
Net assets(63,465)38,532
Capital and reserves
Called up share capital11
Profit and loss account(63,466)38,531
Shareholders' funds(63,465)38,532
The financial statements were approved and authorised for issue by the Director on 26 September 2024, and are signed on its behalf by:
Dr Farshid Azadegan
Director
Registered Company No. 09932354
BEC Distribution Ltd
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured 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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed annually for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year33
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 January 23330,8431,000331,843
Additions19,691-19,691
At 31 December 23350,5341,000351,534
Amortisation and impairment
At 01 January 2321,0001,00022,000
Charge for year31,625-31,625
Other movements(2,025)-(2,025)
At 31 December 2350,6001,00051,600
Net book value
At 31 December 23299,934-299,934
At 31 December 22309,843-309,843
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 January 231,0001,8882,888
At 31 December 231,0001,8882,888
Depreciation and impairment
At 01 January 231,0001,7922,792
Charge for year-9696
At 31 December 231,0001,8882,888
Net book value
At 31 December 23---
At 31 December 22-9696
5.Stocks

2023

2022

££
Finished goods125,396207,702
Total125,396207,702
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables10,67082,956
Total10,67082,956
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables61,00259,088
Bank borrowings and overdrafts28,08428,564
Taxation and social security10,71718,462
Other creditors-4,299
Accrued liabilities and deferred income1,00018,001
Total100,803128,414
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts69,54793,033
Other creditors347,870340,734
Total417,417433,767