Bezares UK Limited 11536441 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is distributors of hydraulic equipment. Digita Accounts Production Advanced 6.30.9574.0 true 11536441 2024-01-01 2024-12-31 11536441 2024-12-31 11536441 bus:OrdinaryShareClass1 2024-12-31 11536441 core:CurrentFinancialInstruments 2024-12-31 11536441 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11536441 core:Goodwill 2024-12-31 11536441 core:FurnitureFittings 2024-12-31 11536441 core:LandBuildings core:ShortLeaseholdAssets 2024-12-31 11536441 core:OfficeEquipment 2024-12-31 11536441 core:PlantMachinery 2024-12-31 11536441 bus:SmallEntities 2024-01-01 2024-12-31 11536441 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11536441 bus:FullAccounts 2024-01-01 2024-12-31 11536441 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11536441 bus:RegisteredOffice 2024-01-01 2024-12-31 11536441 bus:Director1 2024-01-01 2024-12-31 11536441 bus:Director2 2024-01-01 2024-12-31 11536441 bus:Director3 2024-01-01 2024-12-31 11536441 bus:Director5 2024-01-01 2024-12-31 11536441 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 11536441 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11536441 core:Goodwill 2024-01-01 2024-12-31 11536441 core:FurnitureFittings 2024-01-01 2024-12-31 11536441 core:LandBuildings core:ShortLeaseholdAssets 2024-01-01 2024-12-31 11536441 core:LeaseholdImprovements 2024-01-01 2024-12-31 11536441 core:OfficeEquipment 2024-01-01 2024-12-31 11536441 core:PlantMachinery 2024-01-01 2024-12-31 11536441 countries:AllCountries 2024-01-01 2024-12-31 11536441 2023-12-31 11536441 core:Goodwill 2023-12-31 11536441 core:FurnitureFittings 2023-12-31 11536441 core:LandBuildings core:ShortLeaseholdAssets 2023-12-31 11536441 core:OfficeEquipment 2023-12-31 11536441 core:PlantMachinery 2023-12-31 11536441 2023-01-01 2023-12-31 11536441 2023-12-31 11536441 bus:OrdinaryShareClass1 2023-12-31 11536441 core:CurrentFinancialInstruments 2023-12-31 11536441 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11536441 core:Goodwill 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11536441

Bezares UK Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Bezares UK Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Bezares UK Limited

Company Information

Directors

J P Asbery

E N Bezares

A N Bezares

I Mendiburu

Registered office

2nd Floor
46-46a High Street
Olney
Buckinghamshire
MK46 4BE

Accountants

Levett & Associates Ltd
Chartered Certified Accountants
2nd Floor
46-46a High Street
Olney
Buckinghamshire
MK46 4BE

 

Bezares UK Limited

(Registration number: 11536441)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

110,417

135,417

Tangible assets

5

9,906

-

 

120,323

135,417

Current assets

 

Stocks

6

346,662

356,684

Debtors

7

194,644

251,577

Cash at bank and in hand

 

338,204

245,235

 

879,510

853,496

Creditors: Amounts falling due within one year

8

(198,974)

(220,125)

Net current assets

 

680,536

633,371

Total assets less current liabilities

 

800,859

768,788

Provisions for liabilities

(19)

(19)

Net assets

 

800,840

768,769

Capital and reserves

 

Called up share capital

9

500,000

500,000

Retained earnings

300,840

268,769

Shareholders' funds

 

800,840

768,769

For the financial year ending 31 December 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 17 March 2025 and signed on its behalf by:
 

 

Bezares UK Limited

(Registration number: 11536441)
Balance Sheet as at 31 December 2024

.........................................
J P Asbery
Director

   
     
 

Bezares UK Limited

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

1

General information

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

The address of its registered office is:
2nd Floor
46-46a High Street
Olney
Buckinghamshire
MK46 4BE

These financial statements were authorised for issue by the Board on 17 March 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current 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.

 

Bezares UK Limited

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

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.

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

Leasehold improvements

7 years straight line

Fixtures and fittings

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years 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.

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.

 

Bezares UK Limited

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

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.

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).

 

Bezares UK Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

250,000

250,000

At 31 December 2024

250,000

250,000

Amortisation

At 1 January 2024

114,583

114,583

Amortisation charge

25,000

25,000

At 31 December 2024

139,583

139,583

Carrying amount

At 31 December 2024

110,417

110,417

At 31 December 2023

135,417

135,417

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Cost or valuation

At 1 January 2024

-

-

-

521

Additions

6,331

2,240

3,182

623

At 31 December 2024

6,331

2,240

3,182

1,144

Depreciation

At 1 January 2024

-

-

-

521

Charge for the year

905

560

796

209

At 31 December 2024

905

560

796

730

Carrying amount

At 31 December 2024

5,426

1,680

2,386

414

 

Bezares UK Limited

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

Total
£

Cost or valuation

At 1 January 2024

521

Additions

12,376

At 31 December 2024

12,897

Depreciation

At 1 January 2024

521

Charge for the year

2,470

At 31 December 2024

2,991

Carrying amount

At 31 December 2024

9,906

Included within the net book value of land and buildings above is £5,426 (2023 - £Nil) in respect of short leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

346,662

356,684

7

Debtors

Current

2024
£

2023
£

Trade debtors

188,944

251,577

Other debtors

5,700

-

 

194,644

251,577

 

Bezares UK Limited

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

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

111,618

117,133

Taxation and social security

87,046

102,742

Accruals and deferred income

250

250

Other creditors

60

-

198,974

220,125

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

500,000

500,000

500,000

500,000