Company registration number 05575151 (England and Wales)
BEAVER ELECTRICAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
BEAVER ELECTRICAL LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
BEAVER ELECTRICAL LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr M S Partridge
Mr N D Osborne
Company number
05575151
Registered office
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
Accountants
TC Group
30-31 St. James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
BEAVER ELECTRICAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,508
19,507
Current assets
Stocks
500
153,113
Debtors
4
138,261
357,166
Cash at bank and in hand
334,174
163,802
472,935
674,081
Creditors: amounts falling due within one year
5
(256,765)
(340,625)
Net current assets
216,170
333,456
Total assets less current liabilities
253,678
352,963
Creditors: amounts falling due after more than one year
6
(30,028)
(22,358)
Provisions for liabilities
(9,377)
(3,707)
Net assets
214,273
326,898
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
214,173
326,798
Total equity
214,273
326,898
BEAVER ELECTRICAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 September 2024 and are signed on its behalf by:
Mr M S Partridge
Mr N D Osborne
Director
Director
Company Registration No. 05575151
BEAVER ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Beaver Electrical Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30-31 St. James Place, Mangotsfield, Bristol, United Kingdom, BS16 9JB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% Straight Line
Computers
20% Straight Line
Motor vehicles
25% Reducing balance
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

BEAVER ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Leases

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

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

BEAVER ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
14
14
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
38,130
Additions
30,294
At 31 March 2024
68,424
Depreciation and impairment
At 1 April 2023
18,623
Depreciation charged in the year
12,293
At 31 March 2024
30,916
Carrying amount
At 31 March 2024
37,508
At 31 March 2023
19,507
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
138,261
163,994
Other debtors
-
0
193,172
138,261
357,166
BEAVER ELECTRICAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Trade creditors
141,551
277,714
Taxation and social security
68,456
43,676
Other creditors
36,758
9,235
256,765
340,625
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
12,405
22,358
Other creditors
17,623
-
0
30,028
22,358
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