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Company Registration No. 03039961 (England and Wales)
Beam Industrial Fasteners UK Limited Unaudited accounts for the year ended 31 March 2024
Beam Industrial Fasteners UK Limited Unaudited accounts Contents
Page
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Beam Industrial Fasteners UK Limited Company Information for the year ended 31 March 2024
Director
Mr P Thurston
Secretary
Joanne Thurston
Company Number
03039961 (England and Wales)
Registered Office
Layfield Farm Sheppey Way, Bobbing Sittingbourne Kent ME9 8QS
Accountants
Rustrick Accountants Limited 380A New Hythe lane Larkfield Maidstone Kent ME20 6RZ
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Beam Industrial Fasteners UK Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
7,765 
1,374 
Current assets
Debtors
69,399 
96,454 
Cash at bank and in hand
5,859 
7,143 
75,258 
103,597 
Creditors: amounts falling due within one year
(76,604)
(93,215)
Net current (liabilities)/assets
(1,346)
10,382 
Total assets less current liabilities
6,419 
11,756 
Creditors: amounts falling due after more than one year
(6,116)
(11,218)
Net assets
303 
538 
Capital and reserves
Called up share capital
101 
101 
Profit and loss account
202 
437 
Shareholders' funds
303 
538 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 May 2024 and were signed on its behalf by
Mr P Thurston Director Company Registration No. 03039961
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Beam Industrial Fasteners UK Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Beam Industrial Fasteners UK Limited is a private company, limited by shares, registered in England and Wales, registration number 03039961. The registered office is Layfield Farm, Sheppey Way, Bobbing, Sittingbourne, Kent, ME9 8QS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Computer equipment
20% Reducing Balance
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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Beam Industrial Fasteners UK Limited Notes to the Accounts for the year ended 31 March 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
1,165 
13,185 
732 
15,082 
Additions
- 
8,333 
- 
8,333 
At 31 March 2024
1,165 
21,518 
732 
23,415 
Depreciation
At 1 April 2023
757 
12,688 
263 
13,708 
Charge for the year
82 
1,766 
94 
1,942 
At 31 March 2024
839 
14,454 
357 
15,650 
Net book value
At 31 March 2024
326 
7,064 
375 
7,765 
At 31 March 2023
408 
497 
469 
1,374 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
35,378 
43,637 
Other debtors
34,021 
52,817 
69,399 
96,454 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
14,064 
19,166 
Trade creditors
43,403 
48,281 
Taxes and social security
17,937 
24,391 
Accruals
1,200 
1,377 
76,604 
93,215 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
6,116 
11,218 
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Beam Industrial Fasteners UK Limited Notes to the Accounts for the year ended 31 March 2024
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr P Thurston
Loan to Director
52,067 
- 
18,196 
33,871 
52,067 
- 
18,196 
33,871 
9
Average number of employees
During the year the average number of employees was 5 (2023: 4).
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