Beechwood Commercials Ltd 08694236 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is heavy goods and light commercial vehicle repairs. Digita Accounts Production Advanced 6.30.9574.0 true true 08694236 2023-10-01 2024-09-30 08694236 2024-09-30 08694236 bus:OrdinaryShareClass1 2024-09-30 08694236 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-09-30 08694236 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-09-30 08694236 core:CurrentFinancialInstruments 2024-09-30 08694236 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 08694236 core:Non-currentFinancialInstruments core:AfterOneYear 2024-09-30 08694236 core:FurnitureFittingsToolsEquipment 2024-09-30 08694236 core:MotorVehicles 2024-09-30 08694236 core:OtherPropertyPlantEquipment 2024-09-30 08694236 bus:SmallEntities 2023-10-01 2024-09-30 08694236 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 08694236 bus:FilletedAccounts 2023-10-01 2024-09-30 08694236 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 08694236 bus:RegisteredOffice 2023-10-01 2024-09-30 08694236 bus:Director1 2023-10-01 2024-09-30 08694236 bus:Director2 2023-10-01 2024-09-30 08694236 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 08694236 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-10-01 2024-09-30 08694236 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08694236 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 08694236 core:MotorVehicles 2023-10-01 2024-09-30 08694236 core:OfficeEquipment 2023-10-01 2024-09-30 08694236 core:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 08694236 core:PlantMachinery 2023-10-01 2024-09-30 08694236 countries:UnitedKingdom 2023-10-01 2024-09-30 08694236 2023-09-30 08694236 core:FurnitureFittingsToolsEquipment 2023-09-30 08694236 core:MotorVehicles 2023-09-30 08694236 core:OtherPropertyPlantEquipment 2023-09-30 08694236 2022-10-01 2023-09-30 08694236 2023-09-30 08694236 bus:OrdinaryShareClass1 2023-09-30 08694236 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-09-30 08694236 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-09-30 08694236 core:CurrentFinancialInstruments 2023-09-30 08694236 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 08694236 core:Non-currentFinancialInstruments core:AfterOneYear 2023-09-30 08694236 core:FurnitureFittingsToolsEquipment 2023-09-30 08694236 core:MotorVehicles 2023-09-30 08694236 core:OtherPropertyPlantEquipment 2023-09-30 08694236 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08694236

Beechwood Commercials Ltd

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Beechwood Commercials Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Beechwood Commercials Ltd

Company Information

Directors

Mr WDP Rees

Mrs N Rees

Registered office

Unit 15
Llandybie Industrial Estate
Llandybie
SA18 3JG
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Beechwood Commercials Ltd

(Registration number: 08694236)
Balance Sheet as at 30 September 2024

Note

30 September
2024
£

30 September
2023
£

Fixed assets

 

Tangible assets

4

36,517

30,848

Current assets

 

Stocks

5

9,761

8,759

Debtors

6

42,085

41,199

Cash at bank and in hand

 

56,976

75,736

 

108,822

125,694

Creditors: Amounts falling due within one year

7

(41,520)

(64,410)

Net current assets

 

67,302

61,284

Total assets less current liabilities

 

103,819

92,132

Creditors: Amounts falling due after more than one year

7

(2,377)

(9,596)

Provisions for liabilities

(6,938)

(5,861)

Net assets

 

94,504

76,675

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

94,502

76,673

Shareholders' funds

 

94,504

76,675

 

Beechwood Commercials Ltd

(Registration number: 08694236)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 October 2024 and signed on its behalf by:
 

.........................................
Mr WDP Rees
Director

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 15
Llandybie Industrial Estate
Llandybie
SA18 3JG

These financial statements were authorised for issue by the Board on 28 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Plant and equipment

25% reducing balance

Office equipment

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

906

52,689

51,731

105,326

Additions

-

13,499

5,511

19,010

At 30 September 2024

906

66,188

57,242

124,336

Depreciation

At 1 October 2023

717

33,525

40,236

74,478

Charge for the year

50

9,821

3,470

13,341

At 30 September 2024

767

43,346

43,706

87,819

Carrying amount

At 30 September 2024

139

22,842

13,536

36,517

At 30 September 2023

189

19,164

11,495

30,848

5

Stocks

30 September
2024
£

30 September
2023
£

Other inventories

9,761

8,759

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

6

Debtors

Current

30 September
2024
£

30 September
2023
£

Trade debtors

39,527

39,576

Prepayments

2,558

1,623

 

42,085

41,199

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

7

Creditors

Creditors: amounts falling due within one year

Note

30 September
2024
£

30 September
2023
£

Due within one year

 

Bank loans and overdrafts

9

6,464

5,363

Trade creditors

 

11,140

18,307

Taxation and social security

 

2,956

12,349

Accruals and deferred income

 

2,989

3,109

Other creditors

 

17,971

25,282

 

41,520

64,410

Creditors: amounts falling due after more than one year

Note

30 September
2024
£

30 September
2023
£

Due after one year

 

Loans and borrowings

9

2,377

9,596

8

Share capital

Allotted, called up and fully paid shares

30 September
2024

30 September
2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Loans and borrowings

Non-current loans and borrowings

30 September
2024
£

30 September
2023
£

Hire purchase contracts

2,377

9,596

 

Beechwood Commercials Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 30 September 2024

Current loans and borrowings

30 September
2024
£

30 September
2023
£

Hire purchase contracts

6,464

5,363

10

Dividends

Interim dividends paid

30 September
2024
£

30 September
2023
£

Interim dividend of £8,700.00 (2023 - £11,250.00) per each Ordinary

17,400

22,500

 

 

11

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

12,570

11,908

Contributions paid to money purchase schemes

22,000

14,000

34,570

25,908