7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 45,000 45,000 979,892 979,892 979,892 xbrli:pure xbrli:shares iso4217:GBP 10577486 2023-04-01 2024-03-31 10577486 2024-03-31 10577486 2023-03-31 10577486 2022-04-01 2023-03-31 10577486 2023-03-31 10577486 2022-03-31 10577486 core:NetGoodwill 2023-04-01 2024-03-31 10577486 core:PlantMachinery 2023-04-01 2024-03-31 10577486 core:FurnitureFittings 2023-04-01 2024-03-31 10577486 core:MotorVehicles 2023-04-01 2024-03-31 10577486 bus:Director1 2023-04-01 2024-03-31 10577486 bus:Director2 2023-04-01 2024-03-31 10577486 core:NetGoodwill 2024-03-31 10577486 core:PlantMachinery 2023-03-31 10577486 core:FurnitureFittings 2023-03-31 10577486 core:MotorVehicles 2023-03-31 10577486 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 10577486 core:PlantMachinery 2024-03-31 10577486 core:FurnitureFittings 2024-03-31 10577486 core:MotorVehicles 2024-03-31 10577486 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10577486 core:WithinOneYear 2024-03-31 10577486 core:WithinOneYear 2023-03-31 10577486 core:ShareCapital 2024-03-31 10577486 core:ShareCapital 2023-03-31 10577486 core:RetainedEarningsAccumulatedLosses 2024-03-31 10577486 core:RetainedEarningsAccumulatedLosses 2023-03-31 10577486 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 10577486 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-03-31 10577486 core:Non-currentFinancialInstruments 2023-03-31 10577486 core:PlantMachinery 2023-03-31 10577486 core:FurnitureFittings 2023-03-31 10577486 core:MotorVehicles 2023-03-31 10577486 bus:SmallEntities 2023-04-01 2024-03-31 10577486 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10577486 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10577486 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10577486 bus:FullAccounts 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10577486
BEECHWOOD STUDIOS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2024
BEECHWOOD STUDIOS LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
562,496
56,780
Investments
7
979,892
---------
------------
562,496
1,036,672
CURRENT ASSETS
Stocks
70,538
31,220
Debtors
8
887,563
378,741
Cash at bank and in hand
1,129,376
704,564
------------
------------
2,087,477
1,114,525
CREDITORS: amounts falling due within one year
9
319,414
248,875
------------
------------
NET CURRENT ASSETS
1,768,063
865,650
------------
------------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,330,559
1,902,322
PROVISIONS
10,444
10,788
------------
------------
NET ASSETS
2,320,115
1,891,534
------------
------------
CAPITAL AND RESERVES
Called up share capital fully paid
100
100
Profit and loss account
2,320,015
1,891,434
------------
------------
SHAREHOLDERS FUNDS
2,320,115
1,891,534
------------
------------
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 income and retained earnings has not been delivered.
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.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
BEECHWOOD STUDIOS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 16 October 2024 , and are signed on behalf of the board by:
Mrs L White
Mr M White
Director
Director
Company registration number: 10577486
BEECHWOOD STUDIOS LIMITED
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. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Freehold property
-
equally over 50 years
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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 stock to its 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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 7 (2023: 7 ).
5. INTANGIBLE ASSETS
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
45,000
--------
Amortisation
At 1 April 2023 and 31 March 2024
45,000
--------
Carrying amount
At 31 March 2024
--------
At 31 March 2023
--------
6. TANGIBLE ASSETS
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2023
78,527
4,317
84,500
167,344
Additions
531,350
681
532,031
---------
--------
-------
--------
---------
At 31 March 2024
531,350
78,527
4,998
84,500
699,375
---------
--------
-------
--------
---------
Depreciation
At 1 April 2023
54,450
1,384
54,730
110,564
Charge for the year
10,627
5,223
542
9,923
26,315
---------
--------
-------
--------
---------
At 31 March 2024
10,627
59,673
1,926
64,653
136,879
---------
--------
-------
--------
---------
Carrying amount
At 31 March 2024
520,723
18,854
3,072
19,847
562,496
---------
--------
-------
--------
---------
At 31 March 2023
24,077
2,933
29,770
56,780
---------
--------
-------
--------
---------
7. INVESTMENTS
Listed investments
£
Cost
At 1 April 2023
979,892
Disposals
( 979,892)
---------
At 31 March 2024
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
979,892
---------
8. DEBTORS
2024
2023
£
£
Trade debtors
392,395
303,339
Other debtors
495,168
75,402
---------
---------
887,563
378,741
---------
---------
9. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
105,795
57,356
Corporation tax
205,451
180,054
Social security and other taxes
1,467
1,089
Other creditors
6,701
10,376
---------
---------
319,414
248,875
---------
---------