B.E.C Global Limited 04637135 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is plastic mouldings. Digita Accounts Production Advanced 6.30.9574.0 true 04637135 2023-04-01 2024-03-31 04637135 2024-03-31 04637135 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-03-31 04637135 bus:OrdinaryShareClass2 bus:CumulativeShares 2024-03-31 04637135 bus:OrdinaryShareClass3 bus:CumulativeShares 2024-03-31 04637135 core:CapitalRedemptionReserve 2024-03-31 04637135 core:RetainedEarningsAccumulatedLosses 2024-03-31 04637135 core:ShareCapital 2024-03-31 04637135 core:CurrentFinancialInstruments 2024-03-31 04637135 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04637135 core:Goodwill 2024-03-31 04637135 core:FurnitureFittings 2024-03-31 04637135 core:MotorVehicles 2024-03-31 04637135 core:PlantMachinery 2024-03-31 04637135 bus:SmallEntities 2023-04-01 2024-03-31 04637135 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04637135 bus:FilletedAccounts 2023-04-01 2024-03-31 04637135 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04637135 bus:RegisteredOffice 2023-04-01 2024-03-31 04637135 bus:Director1 2023-04-01 2024-03-31 04637135 bus:Director2 2023-04-01 2024-03-31 04637135 bus:Director3 2023-04-01 2024-03-31 04637135 bus:Director4 2023-04-01 2024-03-31 04637135 bus:Director5 2023-04-01 2024-03-31 04637135 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-01 2024-03-31 04637135 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-04-01 2024-03-31 04637135 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-04-01 2024-03-31 04637135 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04637135 core:CapitalRedemptionReserve 2023-04-01 2024-03-31 04637135 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04637135 core:ShareCapital 2023-04-01 2024-03-31 04637135 core:Goodwill 2023-04-01 2024-03-31 04637135 core:FurnitureFittings 2023-04-01 2024-03-31 04637135 core:MotorVehicles 2023-04-01 2024-03-31 04637135 core:PlantMachinery 2023-04-01 2024-03-31 04637135 countries:AllCountries 2023-04-01 2024-03-31 04637135 2023-03-31 04637135 core:CapitalRedemptionReserve 2023-03-31 04637135 core:RetainedEarningsAccumulatedLosses 2023-03-31 04637135 core:ShareCapital 2023-03-31 04637135 core:Goodwill 2023-03-31 04637135 core:FurnitureFittings 2023-03-31 04637135 core:MotorVehicles 2023-03-31 04637135 core:PlantMachinery 2023-03-31 04637135 2022-04-01 2023-03-31 04637135 2023-03-31 04637135 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-03-31 04637135 bus:OrdinaryShareClass2 bus:CumulativeShares 2023-03-31 04637135 bus:OrdinaryShareClass3 bus:CumulativeShares 2023-03-31 04637135 core:CurrentFinancialInstruments 2023-03-31 04637135 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04637135 core:FurnitureFittings 2023-03-31 04637135 core:MotorVehicles 2023-03-31 04637135 core:PlantMachinery 2023-03-31 04637135 core:CapitalRedemptionReserve 2022-04-01 2023-03-31 04637135 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04637135 core:ShareCapital 2022-04-01 2023-03-31 04637135 2022-03-31 04637135 core:CapitalRedemptionReserve 2022-03-31 04637135 core:RetainedEarningsAccumulatedLosses 2022-03-31 04637135 core:ShareCapital 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04637135

B.E.C Global Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

B.E.C Global Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

B.E.C Global Limited

Company Information

Directors

G Elvy

K Elvy

P Holland

M Tharme

K Reed

Registered office

Gore Road Industrial Estate
Gore Road
New Milton
Hampshire
BH25 6SA

Accountants

Elysium
Chartered Accountants
Unit A7 The Arena
9 Nimrod Way
Wimborne
Dorset
BH21 7UH

 

B.E.C Global Limited

(Registration number: 04637135)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

866,709

790,195

Current assets

 

Stocks

6

228,273

191,139

Debtors

7

351,514

405,939

Cash at bank and in hand

 

1,517,950

1,341,177

 

2,097,737

1,938,255

Creditors: Amounts falling due within one year

8

(143,794)

(170,019)

Net current assets

 

1,953,943

1,768,236

Total assets less current liabilities

 

2,820,652

2,558,431

Provisions for liabilities

(215,110)

(197,549)

Net assets

 

2,605,542

2,360,882

Capital and reserves

 

Called up share capital

9

110

110

Capital redemption reserve

90

90

Retained earnings

2,605,342

2,360,682

Shareholders' funds

 

2,605,542

2,360,882

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

 

B.E.C Global Limited

(Registration number: 04637135)
Balance Sheet as at 31 March 2024

.........................................
G Elvy
Director

 

B.E.C Global Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 April 2023

110

90

2,360,682

2,360,882

Profit for the year

-

-

340,660

340,660

Dividends

-

-

(96,000)

(96,000)

At 31 March 2024

110

90

2,605,342

2,605,542

Share capital
£

Capital redemption reserve
£

Retained earnings
£

Total
£

At 1 April 2022

110

90

2,030,652

2,030,852

Profit for the year

-

-

415,030

415,030

Dividends

-

-

(85,000)

(85,000)

At 31 March 2023

110

90

2,360,682

2,360,882

 

B.E.C Global 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 United kingdom.

The address of its registered office is:
Gore Road Industrial Estate
Gore Road
New Milton
Hampshire
BH25 6SA

These financial statements were authorised for issue by the Board on 17 October 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 and deferred 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.

 

B.E.C Global Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

20% on reducing balance

Fixtures & fittings

15% on reducing balance

Motor vehicles

20% on reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5% 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.

 

B.E.C Global Limited

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

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 32 (2023 - 33).

 

B.E.C Global Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

1,200,000

1,200,000

At 31 March 2024

1,200,000

1,200,000

Amortisation

At 1 April 2023

1,200,000

1,200,000

At 31 March 2024

1,200,000

1,200,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

41,657

1,397,156

18,354

1,457,167

Additions

-

252,504

-

252,504

Disposals

-

(49,905)

-

(49,905)

At 31 March 2024

41,657

1,599,755

18,354

1,659,766

Depreciation

At 1 April 2023

22,003

633,768

11,201

666,972

Charge for the year

2,757

171,118

1,329

175,204

Eliminated on disposal

-

(49,119)

-

(49,119)

At 31 March 2024

24,760

755,767

12,530

793,057

Carrying amount

At 31 March 2024

16,897

843,988

5,824

866,709

At 31 March 2023

19,654

763,388

7,153

790,195

6

Stocks

2024
£

2023
£

Work in progress

97,807

34,375

Other inventories

130,466

156,764

228,273

191,139

 

B.E.C Global Limited

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

7

Debtors

Current

2024
£

2023
£

Trade debtors

258,144

381,823

Prepayments

11,741

16,617

Other debtors

81,629

7,499

 

351,514

405,939

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

75,877

112,027

Taxation and social security

38,254

39,137

Accruals and deferred income

13,154

12,801

Other creditors

16,509

6,054

143,794

170,019

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

90

90

90

90

Ordinary B of £1 each

-

-

-

-

Ordinary C of £1 each

20

20

20

20

110

110

110

110