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REGISTERED NUMBER: 02687617 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 June 2024

for

BETACOVE LIMITED

BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BETACOVE LIMITED

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: N A Brown
R W Olsen
E E Pope
G T Lester





REGISTERED OFFICE: Unit J2 Knights Park
Knight Road
Strood
Rochester
Kent
ME2 2LS





REGISTERED NUMBER: 02687617 (England and Wales)





ACCOUNTANTS: Friend & Grant Ltd
Bryant House
Bryant Road
Strood
Rochester
Kent
ME2 3EW

BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Balance Sheet
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 238,318 51,121

CURRENT ASSETS
Stocks 376,095 687,751
Debtors 6 1,505,315 1,583,968
Cash at bank and in hand 1,892,517 1,666,350
3,773,927 3,938,069
CREDITORS
Amounts falling due within one year 7 1,094,007 1,390,015
NET CURRENT ASSETS 2,679,920 2,548,054
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,918,238

2,599,175

CREDITORS
Amounts falling due after more than one year 8 (20,719 ) -

PROVISIONS FOR LIABILITIES (39,986 ) (12,188 )
NET ASSETS 2,857,533 2,586,987

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,857,433 2,586,887
SHAREHOLDERS' FUNDS 2,857,533 2,586,987

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Balance Sheet - continued
30 JUNE 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by:





E E Pope - Director


BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Betacove Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. STATEMENT OF COMPLIANCE

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 presentation and disclosure requirements of Section 1A applicable to small companies, and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue
Revenue is measured as the fair value of the consideration received or receivable from the sale of goods or exchange of services, excluding discounts, rebates, value added tax and other sales taxes.

Rendering of services

The percentage of completion method is used to calculate the revenue recognised at the period end.

Revenue from the rendering of services is recognised when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the economic benefits associated with the transaction will flow to the entity;
- the stage of completion of the transaction at the end of the reporting period can be measured reliably; and
- the costs incurred for the transaction and the costs to complete 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


3. 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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 held under finance lease and hire purchase contracts are capitalised in the balance sheet and depreciated over their expected useful lives. The interest element of the leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

Employee benefits
The company recognises a provision for annual leave accrued by employees as a result of services rendered in current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2023 - 46 ) .

BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 - 57,547 17,108 88,177 162,832
Additions 162,166 45,870 11,221 19,283 238,540
Disposals - (4,924 ) (12,193 ) (11,033 ) (28,150 )
At 30 June 2024 162,166 98,493 16,136 96,427 373,222
DEPRECIATION
At 1 July 2023 - 25,604 13,728 72,379 111,711
Charge for year 16,217 12,211 3,063 15,728 47,219
Eliminated on disposal - (3,265 ) (9,845 ) (10,916 ) (24,026 )
At 30 June 2024 16,217 34,550 6,946 77,191 134,904
NET BOOK VALUE
At 30 June 2024 145,949 63,943 9,190 19,236 238,318
At 30 June 2023 - 31,943 3,380 15,798 51,121

Fixed assets, included in the above, which are held under finance leases are as follows:
Plant and
machinery
£   
COST
Additions 34,846
At 30 June 2024 34,846
DEPRECIATION
Charge for year 1,884
At 30 June 2024 1,884
NET BOOK VALUE
At 30 June 2024 32,962

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,336,816 1,466,754
Other debtors 168,499 117,214
1,505,315 1,583,968

BETACOVE LIMITED (REGISTERED NUMBER: 02687617)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases 11,302 -
Trade creditors 221,246 214,770
Amounts owed to group undertakings 192 192
Taxation and social security 603,605 837,753
Other creditors 257,662 337,300
1,094,007 1,390,015

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Finance leases 20,719 -

9. COMMITMENTS, GUARANTEES AND CONTINGENCIES

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £905,617 (2023 - £385,965).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party at the balance sheet date is Betacove Group Limited.