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Company registration number: 10653151
Bees 2 Limited
Unaudited filleted financial statements
31 May 2024
Bees 2 Limited
Contents
Statement of financial position
Notes to the financial statements
Bees 2 Limited
Statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 1,689,480 1,689,480
_______ _______
1,689,480 1,689,480
Current assets
Cash at bank and in hand 10,413 51,174
_______ _______
10,413 51,174
Creditors: amounts falling due
within one year 6 ( 60,600) ( 140,600)
_______ _______
Net current liabilities ( 50,187) ( 89,426)
_______ _______
Total assets less current liabilities 1,639,293 1,600,054
_______ _______
Net assets 1,639,293 1,600,054
_______ _______
Capital and reserves
Called up share capital 300 300
Share premium account 502,700 502,700
Profit and loss account 1,136,293 1,097,054
_______ _______
Shareholders funds 1,639,293 1,600,054
_______ _______
For the 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
Mr M N Pathan
Director
Company registration number: 10653151
Bees 2 Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Bees 2 Limited, 118 Greyhound Lane, London, SW16 5RN. The principal activity of the company is that of holding investments .
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Income
Income represents dividends received from fixed asset investments
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets .
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 June 2023 and 31 May 2024 1,689,480 1,689,480
_______ _______
Impairment
At 1 June 2023 and 31 May 2024 - -
_______ _______
Carrying amount
At 31 May 2024 1,689,480 1,689,480
_______ _______
At 31 May 2023 1,689,480 1,689,480
_______ _______
6. Creditors: amounts falling due within one year
2024 2023
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 60,000 140,000
Other creditors 600 600
_______ _______
60,600 140,600
_______ _______
Loan from group undertaking is interest free, unsecured and repayable on demand
7. Controlling party
In the opinion of the directors, there is no single controlling party .