Beckly House Limited
Unaudited Financial Statements
For the year ended 31 March 2024
Pages for Filing with Registrar
Company Registration No. 14310160 (England and Wales)
Beckly House Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Beckly House Limited
Balance Sheet
As at 31 March 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
175,828
175,776
Current assets
Debtors
4
51,764
48,463
Creditors: amounts falling due within one year
5
(62,520)
(56,198)
Net current liabilities
(10,756)
(7,735)
Total assets less current liabilities
165,072
168,041
Creditors: amounts falling due after more than one year
6
(105,500)
(147,700)
Net assets
59,572
20,341
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
59,472
20,241
Total equity
59,572
20,341
The director of the company has 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 director acknowledges his 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.
Beckly House Limited
Balance Sheet (Continued)
As at 31 March 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 28 January 2025
M Beckly
Director
Company Registration No. 14310160
Beckly House Limited
Notes to the Financial Statements
For the year ended 31 March 2024
Page 3
1
Accounting policies
Company information
Beckly House Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Ruskin, Henley Road, Caversham, Reading, United Kingdom, RG6 6LE.
1.1
Reporting period
The company was incorporated on 26 August 2022. The prior year financial statements cover the 13 month period from incorporation to 31 August 2023. These financial statements cover the 7 month period to 31 March 2024 and as such, the prior period figures in these financial statements are not comparative.
1.2
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 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. The principal accounting policies adopted are set out below.
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.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
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.
Beckly House Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
1
Accounting policies
(Continued)
Page 4
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
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.
2
Employees
The company had no employees (excluding directors) in the year.
Beckly House Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 5
3
Fixed asset investments
2024
2023
£
£
Investments
175,828
175,776
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 September 2023
175,776
Additions
52
At 31 March 2024
175,828
Carrying amount
At 31 March 2024
175,828
At 31 August 2023
175,776
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
51,764
48,463
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,116
Corporation tax
13,062
12,229
Other creditors
45,229
42,619
Accruals and deferred income
2,113
1,350
62,520
56,198
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
105,500
147,700
Beckly House Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2024
Page 6
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary sharess of £1 each
100
100
100
100
100 Ordinary shares of £1 were issued on incorporation.
8
Related party transactions
At the balance sheet date, the director owed the company £38,702 (2023: £36,234), this balance is interest free and repayable on demand.
9
Controlling party
The controlling party is M Beckly by way of his 100% holding of the issued share capital.