0 01/04/2023 31/03/2024 2024-03-31 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-04-01 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 09419132 2023-04-01 2024-03-31 09419132 2024-03-31 09419132 2023-03-31 09419132 2022-04-01 2023-03-31 09419132 2023-03-31 09419132 2022-03-31 09419132 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09419132 core:PlantMachinery 2023-04-01 2024-03-31 09419132 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09419132 bus:RegisteredOffice 2023-04-01 2024-03-31 09419132 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 09419132 bus:Director1 2023-04-01 2024-03-31 09419132 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 09419132 core:PlantMachinery 2023-03-31 09419132 core:FurnitureFittingsToolsEquipment 2023-03-31 09419132 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 09419132 core:PlantMachinery 2024-03-31 09419132 core:FurnitureFittingsToolsEquipment 2024-03-31 09419132 core:WithinOneYear 2024-03-31 09419132 core:WithinOneYear 2023-03-31 09419132 core:AfterOneYear 2023-03-31 09419132 core:ShareCapital 2024-03-31 09419132 core:ShareCapital 2023-03-31 09419132 core:RetainedEarningsAccumulatedLosses 2024-03-31 09419132 core:RetainedEarningsAccumulatedLosses 2023-03-31 09419132 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 09419132 core:PlantMachinery 2023-03-31 09419132 core:FurnitureFittingsToolsEquipment 2023-03-31 09419132 bus:SmallEntities 2023-04-01 2024-03-31 09419132 bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09419132 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09419132 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09419132 bus:FullAccounts 2023-04-01 2024-03-31
Company registration number: 09419132
Beady Race Ltd
Unaudited filleted financial statements
31 March 2024
Beady Race Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Beady Race Ltd
Directors and other information
Director Mr. Michael Robert Jones
Company number 09419132
Registered office Betchton Manor
Cappers Lane
Betchton
Cheshire
CW11 2TN
Business address Betchton Manor
Cappers Lane
Betchton
Cheshire
CW11 2TN
Accountants Everyday Accounting (Cheshire) Limited
3B Crewe Road
Alsager
Stoke-on-Trent
Staffordshire
ST7 2EW
Beady Race Ltd
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 47,792 51,447
_______ _______
47,792 51,447
Current assets
Stocks 19,140 -
Debtors 6 9,971 111,766
Cash at bank and in hand 73,345 3,712
_______ _______
102,456 115,478
Creditors: amounts falling due
within one year 7 ( 33,368) ( 90,769)
_______ _______
Net current assets 69,088 24,709
_______ _______
Total assets less current liabilities 116,880 76,156
Creditors: amounts falling due
after more than one year 8 - ( 3,015)
Provisions for liabilities ( 2,939) ( 2,334)
_______ _______
Net assets 113,941 70,807
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 113,940 70,806
_______ _______
Shareholder funds 113,941 70,807
_______ _______
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.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr. Michael Robert Jones
Director
Company registration number: 09419132
Beady Race Ltd
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Betchton Manor, Cappers Lane, Betchton, Cheshire, CW11 2TN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings - 4 % straight line
Plant and machinery - 33.33 % straight line
Fittings fixtures and equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2023: 0).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost or valuation
At 1 April 2023 39,510 28,557 4,167 72,234
Additions - 8,938 - 8,938
Revaluation - ( 2,543) - ( 2,543)
_______ _______ _______ _______
At 31 March 2024 39,510 34,952 4,167 78,629
_______ _______ _______ _______
Depreciation
At 1 April 2023 - 19,065 1,722 20,787
Charge for the year 1,580 8,777 1,389 11,746
Disposals - ( 1,696) - ( 1,696)
_______ _______ _______ _______
At 31 March 2024 1,580 26,146 3,111 30,837
_______ _______ _______ _______
Carrying amount
At 31 March 2024 37,930 8,806 1,056 47,792
_______ _______ _______ _______
At 31 March 2023 39,510 9,492 2,445 51,447
_______ _______ _______ _______
At the start of the financial year the building ceased to be classed as an invesment property. It is included within the financial statements at its fair value, per the director, and is being depreciated over its estimated useful life of 25 years .
6. Debtors
2024 2023
£ £
Trade debtors 1,798 109,593
Other debtors 8,173 2,173
_______ _______
9,971 111,766
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts - 902
Trade creditors 9,254 8,707
Corporation tax 15,170 8,837
Social security and other taxes 5,914 7,747
Other creditors 3,030 64,576
_______ _______
33,368 90,769
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts - 3,015
_______ _______