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Registration number: 01595199

Beveland Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Beveland Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Beveland Limited

Company Information

Directors

Mrs L M Whitmore

Mr M J Whitmore

Company secretary

Mr M J Whitmore

Registered office

4 Fairland Street
Wymondham
Norfolk
NR18 0AN

Accountants

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers
59 Abbeygate Street
Bury St. Edmunds
Suffolk
IP33 1LB

 

Beveland Limited

(Registration number: 01595199)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

2

Current assets

 

Debtors

5

6,617

62,163

Cash at bank and in hand

 

174,105

120,660

 

180,722

182,823

Creditors: Amounts falling due within one year

6

(4,994)

(7,767)

Net current assets

 

175,728

175,056

Net assets

 

175,728

175,058

Capital and reserves

 

Called up share capital

7

47

47

Retained earnings

175,681

175,011

Shareholders' funds

 

175,728

175,058

For the financial year ending 31 March 2024 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.

Approved and authorised by the Board on 15 September 2024 and signed on its behalf by:
 

.........................................
Mr M J Whitmore
Company secretary and director

 

Beveland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales

The address of its registered office is:
4 Fairland Street
Wymondham
Norfolk
NR18 0AN
United Kingdom

These financial statements were authorised for issue by the Board on 15 September 2024.

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.

Going concern

The company ceased advancing new finance from August 2023 and collection of debts had been completed by the end of March 2024. It is not therefore regarded as a going concern for the purposes of these financial statements which have consequently been prepared on a basis other than the going concern basis. This has not entailed accounting adjustments having a material effect on the financial position as at 31 March 2024 nor on the result for the year then ended.

Revenue recognition

Interest income is recognised using the effective interest rate method. Fees are recognised when the related service has been provided.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Beveland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% per year straight line

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.

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.

Financial instruments

Classification
The company's financial instruments comprise financial assets which are loans and advances to customers with fixed payments. They are included under Debtors on the balance sheet.
 Recognition and measurement
These loans and advances are carried at amortised cost using the effective interest method, less any impairment.
 Impairment
At each reporting date the company assesses whether there is evidence of the impairment of financial assets in which case an appropriate provision is made.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Beveland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

4,440

4,440

Disposals

(4,440)

(4,440)

At 31 March 2024

-

-

Depreciation

At 1 April 2023

4,438

4,438

Eliminated on disposal

(4,438)

(4,438)

At 31 March 2024

-

-

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

2

2

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,155

61,495

Other debtors

4,462

668

 

6,617

62,163

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

2,503

3,650

Accruals and deferred income

2,424

3,660

Other creditors

67

457

4,994

7,767

 

Beveland Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.50 each

94

47

94

47