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COMPANY REGISTRATION NUMBER: 04707081
Beswick Partnership Limited
Filleted Unaudited Financial Statements
31 March 2024
Beswick Partnership Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Officers and professional advisers
1
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Beswick Partnership Limited
Officers and Professional Advisers
Director
R A Beswick
Registered Office
Tewkesbury Library & Business Centre
Sun Street
Tewkesbury
Gloucestershire
GL20 5NX
Accountants
Howell Davies Limited
Chartered Accountants
Tudor House
37a Birmingham New Road
Wolverhampton
West Midlands
WV4 6BL
Beswick Partnership Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Beswick Partnership Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beswick Partnership Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
Howell Davies Limited Chartered Accountants
Tudor House 37a Birmingham New Road Wolverhampton West Midlands WV4 6BL
12 March 2025
Beswick Partnership Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed Assets
Tangible assets
6
1,174
2,717
Current Assets
Stocks
50
500
Debtors
7
182,317
147,336
Cash at bank and in hand
12,214
10,262
---------
---------
194,581
158,098
Creditors: amounts falling due within one year
8
106,340
113,559
---------
---------
Net Current Assets
88,241
44,539
--------
--------
Total Assets Less Current Liabilities
89,415
47,256
Creditors: amounts falling due after more than one year
9
83,819
44,448
--------
--------
Net Assets
5,596
2,808
--------
--------
Capital and Reserves
Called up share capital
2,000
2,000
Profit and loss account
3,596
808
-------
-------
Shareholders Funds
5,596
2,808
-------
-------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Beswick Partnership Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 12 March 2025 , and are signed on behalf of the board by:
R A Beswick
Director
Company registration number: 04707081
Beswick Partnership Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tewkesbury Library & Business Centre, Sun Street, Tewkesbury, Gloucestershire, GL20 5NX.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
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.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income Tax
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
5% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
25% reducing balance
Computer Equipment
-
33% straight line
Impairment of Fixed Assets
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Intangible Assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
400,000
---------
Amortisation
At 1 April 2023 and 31 March 2024
400,000
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
6. Tangible Assets
Fixtures and fittings
Computer Equipment
Total
£
£
£
Cost
At 1 April 2023 and 31 March 2024
70,701
14,377
85,078
--------
--------
--------
Depreciation
At 1 April 2023
70,581
11,780
82,361
Charge for the year
30
1,513
1,543
--------
--------
--------
At 31 March 2024
70,611
13,293
83,904
--------
--------
--------
Carrying amount
At 31 March 2024
90
1,084
1,174
--------
--------
--------
At 31 March 2023
120
2,597
2,717
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
35,248
73,503
Other debtors
147,069
73,833
---------
---------
182,317
147,336
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
24,360
23,506
Trade creditors
9,563
26,745
Corporation tax
12,974
25,086
Social security and other taxes
16,886
20,369
Other creditors
42,557
17,853
---------
---------
106,340
113,559
---------
---------
The bank loan and overdraft are secured by a fixed and floating charge over the company's assets.
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
83,819
44,448
--------
--------
The bank loan is secured by a fixed and floating charge over the company's assets.
10. Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
R A Beswick
61,661
73,792
135,453
M J Glenister
--------
--------
---------
61,661
73,792
135,453
--------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
R A Beswick
127,067
( 65,406)
61,661
M J Glenister
28,581
( 28,581)
---------
--------
--------
155,648
( 93,987)
61,661
---------
--------
--------
11. Related Party Transactions
The company was under the control of Mr Beswick throughout the current and previous year. Mr Beswick is the managing director.