0 0 Beacons Crafts Ltd 03199638 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is provision of a co-operative for the benefit of local craft enterprises. Digita Accounts Production Advanced 6.30.9574.0 true 03199638 2023-06-01 2024-05-31 03199638 2024-05-31 03199638 core:CurrentFinancialInstruments 2024-05-31 03199638 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 03199638 core:FurnitureFittings 2024-05-31 03199638 core:PlantMachinery 2024-05-31 03199638 bus:SmallEntities 2023-06-01 2024-05-31 03199638 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 03199638 bus:FilletedAccounts 2023-06-01 2024-05-31 03199638 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 03199638 bus:RegisteredOffice 2023-06-01 2024-05-31 03199638 bus:Director2 2023-06-01 2024-05-31 03199638 bus:Director3 2023-06-01 2024-05-31 03199638 bus:Director4 2023-06-01 2024-05-31 03199638 bus:Director5 2023-06-01 2024-05-31 03199638 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 03199638 bus:Agent1 2023-06-01 2024-05-31 03199638 core:OtherPropertyPlantEquipment 2023-06-01 2024-05-31 03199638 core:PlantMachinery 2023-06-01 2024-05-31 03199638 countries:EnglandWales 2023-06-01 2024-05-31 03199638 2023-05-31 03199638 core:FurnitureFittings 2023-05-31 03199638 core:PlantMachinery 2023-05-31 03199638 2022-06-01 2023-05-31 03199638 2023-05-31 03199638 core:CurrentFinancialInstruments 2023-05-31 03199638 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 xbrli:pure iso4217:GBP

Registration number: 03199638

Beacons Crafts Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Beacons Crafts Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Beacons Crafts Ltd

Company Information

Directors

Ms M R Griffiths

Ms E L Cleminson

Mrs J B Reid

Mrs E M Curtis

Registered office

Unit 8,
Bethel Square,
Brecon
Powys
LD3 7JP

Bankers

Barclays Bank plc
Gateway Centre
Monk Street
Abergavenny
NP7 5ND

Accountants

W J James & Co
Chartered Accountants Bishop House
10 Wheat Street
 

 

Beacons Crafts Ltd

(Registration number: 03199638)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Current assets

 

Stocks

5

150

200

Debtors

6

2,400

2,622

Cash at bank and in hand

 

15,451

16,607

 

18,001

19,429

Creditors: Amounts falling due within one year

7

(4,713)

(4,610)

Net assets

 

13,288

14,819

Capital and reserves

 

Called up share capital

3,400

3,400

Retained earnings

9,888

11,419

Shareholders' funds

 

13,288

14,819

For the financial year ending 31 May 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 and 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 19 February 2025 and signed on its behalf by:
 

.........................................
Ms E L Cleminson
Director

 

Beacons Crafts Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 8,
Bethel Square,
Brecon
Powys
LD3 7JP

These financial statements were authorised for issue by the Board on 19 February 2025.

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.

Revenue recognition

Turnover comprises commission receivable from makers in respect of the sale of goods in the shop operated by the company.

Turnover also includes the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities.

Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the sale is made.

Tax

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.

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.

 

Beacons Crafts Ltd

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

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

Fixtures and fittings

20% reducing balance

Equipment

20% reducing balance

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.

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. Cost is determined using the first-in, first-out (FIFO) method.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Beacons Crafts Ltd

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

4

Tangible assets

Fixtures and fittings
£

Equipment
£

Total
£

Cost or valuation

At 1 June 2023

5,075

442

5,517

At 31 May 2024

5,075

442

5,517

Depreciation

At 1 June 2023

5,075

442

5,517

At 31 May 2024

5,075

442

5,517

Carrying amount

At 31 May 2024

-

-

-

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

150

200

6

Debtors

Current

2024
£

2023
£

Prepayments

-

222

Other debtors

2,400

2,400

 

2,400

2,622

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,447

1,274

Other creditors

3,266

3,336

4,713

4,610