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Registration number: 11030550

CK Beckett Oil Processing 2017 Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

CK Beckett Oil Processing 2017 Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

CK Beckett Oil Processing 2017 Ltd

Company Information

Directors

Mr Malcolm Christopher Beckett

Mr Craig Leonard Beckett

Mr Daniel Thomas Beckett

Mr Nicholas Kane Dempsey-Foakes

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 Oil Processing 2017 Ltd

(Registration number: 11030550)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

8,233

10,977

Investment property

5

158,766

-

 

166,999

10,977

Current assets

 

Stocks

6

104,250

12,500

Debtors

7

958,582

1,012,686

Cash at bank and in hand

 

180,833

192,972

 

1,243,665

1,218,158

Creditors: Amounts falling due within one year

8

(197,090)

(230,925)

Net current assets

 

1,046,575

987,233

Total assets less current liabilities

 

1,213,574

998,210

Creditors: Amounts falling due after more than one year

8

(20,412)

(29,832)

Net assets

 

1,193,162

968,378

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

1,193,062

968,278

Shareholders' funds

 

1,193,162

968,378

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.

 

CK Beckett Oil Processing 2017 Ltd

(Registration number: 11030550)
Balance Sheet as at 31 October 2023

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 3 September 2024 and signed on its behalf by:
 

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

 

CK Beckett Oil Processing 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 Oil Processing 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:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 Oil Processing 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.

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.

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.

 

CK Beckett Oil Processing 2017 Ltd

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

13,721

13,721

At 31 October 2023

13,721

13,721

Depreciation

At 1 November 2022

2,744

2,744

Charge for the year

2,744

2,744

At 31 October 2023

5,488

5,488

Carrying amount

At 31 October 2023

8,233

8,233

At 31 October 2022

10,977

10,977

5

Investment properties

2023
£

Additions

158,766

At 31 October

158,766

There has been no valuation of investment property by an independent valuer.

6

Stocks

2023
£

2022
£

Other inventories

104,250

12,500

 

CK Beckett Oil Processing 2017 Ltd

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

7

Debtors

Note

2023
£

2022
£

Trade debtors

 

13,742

175,694

Amounts owed by related parties

12

50,000

-

Other debtors

 

894,840

836,992

 

958,582

1,012,686

 

CK Beckett Oil Processing 2017 Ltd

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

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

10

9,827

10,084

Trade creditors

 

81,923

149,894

Taxation and social security

 

104,265

61,437

Accruals and deferred income

 

1,075

9,510

 

197,090

230,925

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

20,412

29,832

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

10

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

20,412

29,832

Current loans and borrowings

 

CK Beckett Oil Processing 2017 Ltd

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

2023
£

2022
£

Bank borrowings

9,827

10,084

11

Dividends

12

Related party transactions

Transactions with directors

2023

At 1 November 2022
£

Advances to director
£

At 31 October 2023
£

Mr Malcolm Christopher Beckett

DLA

96,000

105,919

201,919

2022

At 1 November 2021
£

Advances to director
£

At 31 October 2022
£

Mr Malcolm Christopher Beckett

DLA

-

96,000

96,000

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

-

57,868