Company registration number 00183428 (England and Wales)
BEGBIE, PHILLIPS & HAYLEY, LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
BEGBIE, PHILLIPS & HAYLEY, LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
3 - 7
BEGBIE, PHILLIPS & HAYLEY, LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,402
21,921
Investments
4
946,395
841,164
962,797
863,085
Current assets
Debtors
5
12,811
5,887
Cash at bank and in hand
2,824
4,747
15,635
10,634
Creditors: amounts falling due within one year
6
(240,918)
(232,291)
Net current liabilities
(225,283)
(221,657)
Total assets less current liabilities
737,514
641,428
Capital and reserves
Called up share capital
7
28,162
28,162
Fair value reserve
315,897
210,666
Capital redemption reserve
12,119
12,119
Profit and loss reserves
381,336
390,481
Total equity
737,514
641,428
The directors of the company have elected not to include a copy of the income statement 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 21 November 2024 and are signed on its behalf by:
H G Pound
Director
Company Registration No. 00183428
BEGBIE, PHILLIPS & HAYLEY, LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
Share capital
Fair value reserve
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 April 2022
28,162
384,194
12,119
446,736
871,211
Year ended 31 March 2023:
Loss for the year
-
-
-
(97,944)
(97,944)
Other comprehensive income:
Adjustments to fair value of financial assets
-
(131,839)
-
-
(131,839)
Total comprehensive income for the year
-
(131,839)
-
(97,944)
(229,783)
Transfers
-
(41,689)
-
41,689
-
Balance at 31 March 2023
28,162
210,666
12,119
390,481
641,428
Year ended 31 March 2024:
Loss for the year
-
-
-
(9,145)
(9,145)
Other comprehensive income:
Adjustments to fair value of financial assets
-
105,231
-
-
105,231
Total comprehensive income for the year
-
105,231
-
(9,145)
96,086
Balance at 31 March 2024
28,162
315,897
12,119
381,336
737,514
BEGBIE, PHILLIPS & HAYLEY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Begbie, Phillips & Hayley, Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Knole Way, Sevenoaks, Kent, TN13 3RS.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
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:
Office equipment
25% reducing balance basis
Computer equipment
33.33% reducing balance basis
Motor vehicles
25% reducing balance basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Other investments in listed and unlisted entities are initially measured at transaction price including transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss.
BEGBIE, PHILLIPS & HAYLEY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Basic financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
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 income statement 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 income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
BEGBIE, PHILLIPS & HAYLEY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
47,098
Disposals
(874)
At 31 March 2024
46,224
Depreciation and impairment
At 1 April 2023
25,177
Depreciation charged in the year
5,513
Eliminated in respect of disposals
(868)
At 31 March 2024
29,822
Carrying amount
At 31 March 2024
16,402
At 31 March 2023
21,921
BEGBIE, PHILLIPS & HAYLEY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
3,507
3,507
Other investments other than loans
942,888
837,657
946,395
841,164
Fixed asset investments revalued
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2023
3,507
1,347,660
1,351,167
Valuation changes
-
105,231
105,231
Disposals
-
(134,170)
(134,170)
At 31 March 2024
3,507
1,318,721
1,322,228
Impairment
At 1 April 2023
-
510,003
510,003
Disposals
-
(134,170)
(134,170)
At 31 March 2024
-
375,833
375,833
Carrying amount
At 31 March 2024
3,507
942,888
946,395
At 31 March 2023
3,507
837,657
841,164
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
12,811
5,887
BEGBIE, PHILLIPS & HAYLEY, LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
222,186
222,186
Taxation and social security
6,838
(104)
Other creditors
11,894
10,209
240,918
232,291
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 30p each
93,874
93,874
28,162
28,162
2024-03-312023-04-01false22 November 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityH G PoundR G PoundH G Poundfalsefalse001834282023-04-012024-03-31001834282024-03-31001834282023-03-3100183428core:OtherPropertyPlantEquipment2024-03-3100183428core:OtherPropertyPlantEquipment2023-03-3100183428core:Non-currentFinancialInstruments2023-03-3100183428core:CurrentFinancialInstruments2024-03-3100183428core:CurrentFinancialInstruments2023-03-3100183428core:ShareCapital2024-03-3100183428core:ShareCapital2023-03-3100183428core:RevaluationReserve2024-03-3100183428core:RevaluationReserve2023-03-3100183428core:CapitalRedemptionReserve2024-03-3100183428core:CapitalRedemptionReserve2023-03-3100183428core:RetainedEarningsAccumulatedLosses2024-03-3100183428core:RetainedEarningsAccumulatedLosses2023-03-3100183428core:ShareCapital2022-03-3100183428core:RevaluationReserve2022-03-3100183428core:RetainedEarningsAccumulatedLosses2022-03-31001834282022-03-3100183428bus:Director12023-04-012024-03-31001834282022-04-012023-03-3100183428core:RevaluationReserve12022-04-012023-03-3100183428core:RevaluationReserve22023-04-012024-03-3100183428core:RevaluationReserve2022-04-012023-03-3100183428core:FurnitureFittings2023-04-012024-03-3100183428core:ComputerEquipment2023-04-012024-03-3100183428core:MotorVehicles2023-04-012024-03-3100183428core:OtherPropertyPlantEquipment2023-03-3100183428core:OtherPropertyPlantEquipment2023-04-012024-03-3100183428core:Non-currentFinancialInstruments2024-03-3100183428core:WithinOneYear2024-03-3100183428core:WithinOneYear2023-03-3100183428bus:PrivateLimitedCompanyLtd2023-04-012024-03-3100183428bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100183428bus:FRS1022023-04-012024-03-3100183428bus:AuditExemptWithAccountantsReport2023-04-012024-03-3100183428bus:Director22023-04-012024-03-3100183428bus:CompanySecretary12023-04-012024-03-3100183428bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP