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REGISTERED NUMBER: SC308635 (Scotland)











THE BEAL GROUP LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3 to 4

Notes to the Financial Statements 5 to 10

Accountants' Report 11

THE BEAL GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: John Crawford Anderson
David John Anthony Beal





REGISTERED OFFICE: 1 Little Drum Road
Westfield
Cumbernauld
North Lanarkshire
G68 9LH





REGISTERED NUMBER: SC308635 (Scotland)





ACCOUNTANTS: Azets
Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report with the financial statements of the company for the year ended 30 April 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of holding company.

DIVIDENDS
A dividend in specie was declared on 29 April 2024 by the transfer of the 1 ordinary share of £1.00 (comprising its entire issued share capital) held by the company in Westfield Industrial Solutions Limited.

A dividend of £2000 was also declared in the year ended 30 April 2024

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

John Crawford Anderson
David John Anthony Beal

BUSINESS REVIEW
In the previous year the acquisition and integration of the Stronghold tension curtain business increased costs.
Improved turnover and contribution in the year to 30 April 2024 continues in the new financial year.

In the current financial year, the group acquired the assets and trademarks of BCT, a leading manufacturer of tentage for the glamping, festival, outdoor and group activity sectors. We see this as a valuable addition to the group. Product design and development costs arose from integration of the BCT tent business and additional costs continue to be incurred in the new financial year. This business is forecast to make a positive impact on turnover and P&L contribution in the year to 30 April 2025.

A review of charges between The Beal Group Ltd and subsidiary companies on the transfer of Westfield Industrial Solutions Limited from The Beal Group Limited, resulted in an increase in management fees received by the company in the current and prior periods.

ON BEHALF OF THE BOARD:





David John Anthony Beal - Director


23 December 2024

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

BALANCE SHEET
30 APRIL 2024

2024 2023
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 107,615 16,779
Tangible assets 5 - -
Investments 6 3,481,951 3,481,952
3,589,566 3,498,731

CURRENT ASSETS
Debtors 7 531,523 446,398
Cash at bank 375 14,145
531,898 460,543
CREDITORS
Amounts falling due within one year 8 991,410 869,574
NET CURRENT LIABILITIES (459,512 ) (409,031 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,130,054

3,089,700

CREDITORS
Amounts falling due after more than one
year

9

319,167

329,167
NET ASSETS 2,810,887 2,760,533

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,810,885 2,760,531
SHAREHOLDERS' FUNDS 2,810,887 2,760,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

BALANCE SHEET - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2024 and were signed on its behalf by:





David John Anthony Beal - Director


THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

The Beal Group Limited is a private company, limited by shares, registered in Scotland. The Company's registered number is SC308635 and registered office address is 1 Little Drum Road, Westfield, Cumbernauld, North Lanarkshire, Scotland, G68 9LH.

The nature of the company's operations and its principal activity is that of holding company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

Goodwill
Goodwill, being amounts paid in connection with the acquisition of businesses, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

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 transactions 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.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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, 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.


THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023 18,644
Additions 103,000
At 30 April 2024 121,644
AMORTISATION
At 1 May 2023 1,865
Charge for year 12,164
At 30 April 2024 14,029
NET BOOK VALUE
At 30 April 2024 107,615
At 30 April 2023 16,779

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 May 2023
and 30 April 2024 885
DEPRECIATION
At 1 May 2023
and 30 April 2024 885
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 -

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 May 2023 3,481,952
Disposals (1 )
At 30 April 2024 3,481,951
NET BOOK VALUE
At 30 April 2024 3,481,951
At 30 April 2023 3,481,952

The company holds 100% of the share capital of the following companies:-

Beal Manufacturing Holdings Ltd
Tony Beal Ltd
Stronghold Group Ltd
Rhino Textile Products Ltd

The directors are of the opinion that trading results and net assets of these subsidiary companies support the carrying value of the investments and accordingly no provision for diminution in value is considered necessary.

The investment in Westfield Industrial Solutions Ltd was transferred out of The Beal Group Limited on the 29th April 2024.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Amounts owed by group undertakings 529,837 445,237
Other debtors 574 -
Value added tax 1,112 -
Prepayments - 1,161
531,523 446,398

THE BEAL GROUP LIMITED (REGISTERED NUMBER: SC308635)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 83,289 39,615
Amounts owed to group undertakings 749,446 660,529
Corporation tax 44 -
Value added tax - 2,982
Directors' current accounts 104,912 152,913
Accruals and deferred income 43,719 3,535
991,410 869,574

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 9,167 19,167
Other loans - 2-5 years 300,000 300,000
319,167 329,167

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within creditors is a loan from the directors amounting to £104,912 (2023 £152,913). This amount is interest free, unsecured and repayable on demand.

11. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

At the 30 April 2024 there was a balance due from Westfield Industrial Solutions Ltd, a company under common control, of £574 (2023: £17,226 was due to Westfiled Industrial Solutions Ltd). This balance was interest free and has no fixed repayment term.

12. ULTIMATE CONTROLLING PARTY

David Beal is considered to be the ultimate controlling party by virtue of his majority shareholding in the ultimate parent company.

13. CROSS GUARANTEE

A cross guarantee has been given across the Beal Group Limited, Tony Beal Limited and Softplay Direct Limited for bank loans and overdrafts and is supported by a floating charge over the assets of all the group companies.

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
THE BEAL GROUP LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Beal Group Limited for the year ended 30 April 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of The Beal Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Beal Group Limited and state those matters that we have agreed to state to the Board of Directors of The Beal Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Beal Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Beal Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Beal Group Limited. You consider that The Beal Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Beal Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Azets
Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


23 December 2024