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Registered number: 08524822
M BEAMAN LTD
Financial Statements
For The Year Ended 31 May 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Financial Statements
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—9
Page 1
Company Information
Directors Mr Mark Beaman
Mrs Hollie Beaman
Mr John Beaman
Company Number 08524822
Registered Office 1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Accountants The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 1
Page 2
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of M BEAMAN LTD for the year ended 31 May 2024
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of M BEAMAN LTD which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of M BEAMAN LTD , as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of M BEAMAN LTD and state those matters that we have agreed to state to the directors of M BEAMAN LTD , as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M BEAMAN LTD and its directors as a body for our work or for this report.
It is your duty to ensure that M BEAMAN LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of M BEAMAN LTD . You consider that M BEAMAN LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of M BEAMAN LTD . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
18th September 2024
The Curtis Partnership
1 Tape Street
Cheadle
Stoke On Trent
Staffordshire
ST10 1BB
Page 2
Page 3
Balance Sheet
Registered number: 08524822
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 3,452 2,518
Tangible Assets 5 273,936 265,136
277,388 267,654
CURRENT ASSETS
Stocks 6 24,770 17,970
Debtors 7 449,380 313,375
Cash at bank and in hand 16,985 59,246
491,135 390,591
Creditors: Amounts Falling Due Within One Year 8 (191,671 ) (176,501 )
NET CURRENT ASSETS (LIABILITIES) 299,464 214,090
TOTAL ASSETS LESS CURRENT LIABILITIES 576,852 481,744
Creditors: Amounts Falling Due After More Than One Year (50,958 ) (33,860 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (52,048 ) (50,376 )
NET ASSETS 473,846 397,508
CAPITAL AND RESERVES
Called up share capital 11 3 3
Profit and Loss Account 473,843 397,505
SHAREHOLDERS' FUNDS 473,846 397,508
Page 3
Page 4
For the year ending 31 May 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Mark Beaman
Director
18th September 2024
The notes on pages 5 to 9 form part of these financial statements.
Page 4
Page 5
Notes to the Financial Statements
1. General Information
M BEAMAN LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08524822 . The registered office is 1 Tape Street, Cheadle, Stoke On Trent, Staffordshire, ST10 1BB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
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2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2023: 8)
6 8
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 2,518
Additions 934
As at 31 May 2024 3,452
Net Book Value
As at 31 May 2024 3,452
As at 1 June 2023 2,518
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 406,035 196,172 602,207
Additions 33,834 91,523 125,357
Disposals (53,100 ) (41,349 ) (94,449 )
As at 31 May 2024 386,769 246,346 633,115
Depreciation
As at 1 June 2023 209,908 127,163 337,071
Provided during the period 54,129 37,199 91,328
Disposals (39,609 ) (29,611 ) (69,220 )
As at 31 May 2024 224,428 134,751 359,179
...CONTINUED
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Net Book Value
As at 31 May 2024 162,341 111,595 273,936
As at 1 June 2023 196,127 69,009 265,136
6. Stocks
2024 2023
£ £
Stock 9,200 6,400
Work in progress 15,570 11,570
24,770 17,970
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 15,876 34,782
Prepayments and accrued income 2,484 3,583
Other debtors 431,020 275,010
449,380 313,375
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 22,882 12,710
Trade creditors 19,381 56,258
Bank loans and overdrafts 15,448 8,000
Other loans payable - 12,150
Corporation tax 48,131 27,963
Other taxes and social security 1,674 1,204
VAT 15,614 2,344
Accruals and deferred income 28,736 6,547
Directors' loan accounts 39,805 49,325
191,671 176,501
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 52,048 50,376
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10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 50,376 50,376
Deferred taxation 1,672 1,672
Balance at 31 May 2024 52,048 52,048
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 3 3
Page 9