Company registration number 1331274 (England and Wales)
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
563,355
537,821
Investments
4
5,000
5,000
568,355
542,821
Current assets
Stocks
138,600
202,500
Debtors
5
101,115
79,081
Cash at bank and in hand
461,723
455,594
701,438
737,175
Creditors: amounts falling due within one year
6
(127,136)
(148,882)
Net current assets
574,302
588,293
Total assets less current liabilities
1,142,657
1,131,114
Creditors: amounts falling due after more than one year
7
(51,723)
(62,131)
Provisions for liabilities
(11,835)
Net assets
1,079,099
1,068,983
Capital and reserves
Called up share capital
10,000
10,000
Share premium account
32,958
32,958
Revaluation reserve
116,283
119,073
Profit and loss reserves
919,858
906,952
Total equity
1,079,099
1,068,983
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 February 2025 and are signed on its behalf by:
Robert Taylor
Carol Taylor
Director
Director
Company Registration No. 1331274
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
Beaconsfield Products (Halesowen) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Upper Works, Foxoak Street, Cradley Heath, West Midlands, B64 5DE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
Buildings straight line over fourty years, no depreciation on land
Plant and machinery
25% Reducing balance
Fixtures, fittings & equipment
25% Reducing balance
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Stocks
Stock is valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.
Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised costs using the effective interest method.
Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
635,100
343,302
978,402
Additions
55,060
55,060
Disposals
(16,733)
(16,733)
At 31 October 2024
635,100
381,629
1,016,729
Depreciation and impairment
At 1 November 2023
126,175
314,406
440,581
Depreciation charged in the year
8,235
20,762
28,997
Eliminated in respect of disposals
(16,204)
(16,204)
At 31 October 2024
134,410
318,964
453,374
Carrying amount
At 31 October 2024
500,690
62,665
563,355
At 31 October 2023
508,925
28,896
537,821
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
5,000
5,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
99,051
78,705
Corporation tax recoverable
815
Other debtors
1,249
376
101,115
79,081
BEACONSFIELD PRODUCTS (HALESOWEN) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,167
9,924
Trade creditors
27,327
59,884
Corporation tax
8,233
Other taxation and social security
14,364
6,265
Other creditors
75,278
64,576
127,136
148,882
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
51,723
62,131