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REGISTERED NUMBER: 01632099 (England and Wales)















Financial Statements for the Year Ended 31 May 2024

for

BEVERLEY VENEERS LIMITED

BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)

Statement of Financial Position
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 303,407 296,666

CURRENT ASSETS
Stocks 375,667 307,792
Debtors 5 2,545,096 2,472,850
Cash at bank 345,038 294,411
3,265,801 3,075,053
CREDITORS
Amounts falling due within one year 6 1,020,259 1,272,540
NET CURRENT ASSETS 2,245,542 1,802,513
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,548,949

2,099,179

CREDITORS
Amounts falling due after more than one
year

7

(45,728

)

(18,199

)

PROVISIONS FOR LIABILITIES (52,662 ) (46,084 )
NET ASSETS 2,450,559 2,034,896

CAPITAL AND RESERVES
Called up share capital 30,100 30,100
Capital redemption reserve 4,900 4,900
Retained earnings 2,415,559 1,999,896
2,450,559 2,034,896

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2024 and were signed by:





Mr S A Jukes - Director


BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Beverley Veneers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01632099

Registered office: 26A Tamworth Street
Lichfield
WS13 6JJ

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
The preparation of the financial statements in conformity with generally accepted accounting principles requires the Directors to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results in the future could differ from those estimates. Management considers that certain accounting assumptions relating to taxation and provisions are its critical accounting policies.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - Equally over the terms of the lease
Plant and machinery - 15% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

Stocks
Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Cost of finished goods and work in progress comprise direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.


BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
Having navigated the challenges thrown up by worldwide events over the earlier years of the current decade, we now find the markets for our raw materials to be relatively settled. Energy costs as well as inflation are steadily reducing from the peaks of 2022/23.
However, following two consecutive years of substantial rise in the minimum wage, exacerbated by uncertainties surrounding the incoming government's employment policies, the cost of labour and any associated issues are now moving to pole position as regard to the pressures on our costs of manufacture.
Although the national death rate has been at a reduced level in recent months, which has been reflected in our turnover, we have held our market share.

On this basis, management continue to prepare these accounts on a going concern basis and deem this appropriate. The director does not consider that a material uncertainty about the going concern status currently exists. In making this assessment the director has considered the likely trading conditions for a period of twelve months from the date of the approval of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 28 ) .

BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 57,348 923,122 1,528 14,095 996,093
Additions 14,320 81,790 - - 96,110
Disposals - (135,074 ) (1,528 ) - (136,602 )
At 31 May 2024 71,668 869,838 - 14,095 955,601
DEPRECIATION
At 1 June 2023 4,156 691,593 1,094 2,584 699,427
Charge for year 3,129 82,986 434 2,819 89,368
Eliminated on disposal - (135,073 ) (1,528 ) - (136,601 )
At 31 May 2024 7,285 639,506 - 5,403 652,194
NET BOOK VALUE
At 31 May 2024 64,383 230,332 - 8,692 303,407
At 31 May 2023 53,192 231,529 434 11,511 296,666


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 730,983 1,085,346
Amounts owed by group undertakings 1,670,555 1,363,475
Other debtors 143,558 24,029
2,545,096 2,472,850

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 33,984 29,803
Trade creditors 589,673 617,643
Amounts owed to group undertakings - 46,062
Taxation and social security 249,296 217,966
Other creditors 147,306 361,066
1,020,259 1,272,540

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 45,728 18,199

BEVERLEY VENEERS LIMITED (REGISTERED NUMBER: 01632099)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 79,712 48,002
Invoice discounting loan 79,900 322,306
159,612 370,308

The hire purchase liabilities are secured over the assets to which they relate.

The invoice discounting loan is secured by way of a charge over the related trade debtors.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adele Lawton (Senior Statutory Auditor)
for and on behalf of Lawton Bradford Accountants Ltd

10. CAPITAL COMMITMENTS
31.5.24 31.5.23
£    £   
Contracted but not provided for in the
financial statements 184,322 81,790

11. FINANCIAL COMMITMENTS

Total financial commitments which are not included in the balance sheet amount to £38,597 (2023 - £18,080).

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Jukes Group Limited, incorporated in England & Wales, which is the parent of the smallest and largest group preparing consolidated financial statements that include the company. The registered office is 26a Tamworth Street, Lichfield, Staffordshire. WS13 6JJ.