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Registration number: 11031139

CK Beckett Transformers & Switchgear 2017 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

CK Beckett Transformers & Switchgear 2017 Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

CK Beckett Transformers & Switchgear 2017 Ltd

Company Information

Directors

Mr Malcolm Christopher Beckett

Mr Craig Leonard Beckett

Mr Nicholas Kane Dempsey-Foakes

Mr Daniel Thomas Beckett

Registered office

Boulder Bridge Shaw Lane
Carlton
Barnsley
South Yorkshire
S71 3HJ

Accountants

Upton & Co Accountants Limited
Chartered Certified Accountants
182 Pontefract Road
Cudworth
Barnsley
South Yorkshire
S72 8BE

 

CK Beckett Transformers & Switchgear 2017 Ltd

(Registration number: 11031139)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

84,186

92,880

Current assets

 

Stocks

5

50,850

80,000

Debtors

6

854,931

768,243

Cash at bank and in hand

 

178,206

75,983

 

1,083,987

924,226

Creditors: Amounts falling due within one year

7

(416,306)

(440,652)

Net current assets

 

667,681

483,574

Total assets less current liabilities

 

751,867

576,454

Creditors: Amounts falling due after more than one year

7

(34,247)

(53,593)

Net assets

 

717,620

522,861

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

717,520

522,761

Shareholders' funds

 

717,620

522,861

For the financial year ending 31 October 2023 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.

 

CK Beckett Transformers & Switchgear 2017 Ltd

(Registration number: 11031139)
Balance Sheet as at 31 October 2023

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

.........................................
Mr Malcolm Christopher Beckett
Director

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

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

The address of its registered office is:
Boulder Bridge Shaw Lane
Carlton
Barnsley
South Yorkshire
S71 3HJ
United Kingdom

These financial statements were authorised for issue by the Board on 3 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 financial statements have been prepared on a going concern basis.

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.

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

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

Office Equipment

20% Straight Line Basis

Motor Vehicles

25% Straight Line Basis

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.

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.

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 18 (2022 - 19).

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2022

20,832

54,098

73,679

148,609

Additions

4,221

12,519

9,400

26,140

Disposals

-

-

(6,495)

(6,495)

At 31 October 2023

25,053

66,617

76,584

168,254

Depreciation

At 1 November 2022

8,155

7,161

40,413

55,729

Charge for the year

4,417

13,071

11,731

29,219

Eliminated on disposal

-

-

(880)

(880)

At 31 October 2023

12,572

20,232

51,264

84,068

Carrying amount

At 31 October 2023

12,481

46,385

25,320

84,186

At 31 October 2022

12,677

46,937

33,266

92,880

5

Stocks

2023
£

2022
£

Other inventories

50,850

80,000

6

Debtors

2023
£

2022
£

Trade debtors

669,911

584,512

Other debtors

183,655

181,127

Prepayments

1,365

1,704

Accrued income

-

900

854,931

768,243

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

17,718

16,091

Trade creditors

 

178,592

201,733

Taxation and social security

 

120,528

65,596

Accruals and deferred income

 

2,200

7,355

Other creditors

 

97,268

149,877

 

416,306

440,652

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

34,247

53,593

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

19,245

31,667

Hire purchase contracts

15,002

21,926

34,247

53,593

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Current loans and borrowings

2023
£

2022
£

Bank borrowings

10,794

9,167

Hire purchase contracts

6,924

6,924

17,718

16,091

10

Dividends

2023

2022

£

£

 

 

11

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Repayments by director
£

At 31 October 2023
£

Mr Nicholas Kane Dempsey-Foakes

DLA

293

(293)

-

2022

At 1 November 2021
£

At 31 October 2022
£

Mr Nicholas Kane Dempsey-Foakes

DLA

293

293

Directors' remuneration

The directors' remuneration for the year was as follows:

 

CK Beckett Transformers & Switchgear 2017 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

2023
£

2022
£

Remuneration

65,420

60,520

Contributions paid to money purchase schemes

450

696

65,870

61,216