Buckley & Beale Limited 07491422 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the importation of food and beverage products for wholesale and retailed distribution Digita Accounts Production Advanced 6.30.9574.0 true true 07491422 2024-01-01 2024-12-31 07491422 2024-12-31 07491422 bus:OrdinaryShareClass1 2024-12-31 07491422 core:CurrentFinancialInstruments 2024-12-31 07491422 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 07491422 core:Non-currentFinancialInstruments 2024-12-31 07491422 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 07491422 core:FurnitureFittings 2024-12-31 07491422 core:OfficeEquipment 2024-12-31 07491422 bus:SmallEntities 2024-01-01 2024-12-31 07491422 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 07491422 bus:FilletedAccounts 2024-01-01 2024-12-31 07491422 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 07491422 bus:RegisteredOffice 2024-01-01 2024-12-31 07491422 bus:Director1 2024-01-01 2024-12-31 07491422 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 07491422 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 07491422 core:FurnitureFittings 2024-01-01 2024-12-31 07491422 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 07491422 core:OfficeEquipment 2024-01-01 2024-12-31 07491422 countries:AllCountries 2024-01-01 2024-12-31 07491422 2023-12-31 07491422 core:FurnitureFittings 2023-12-31 07491422 core:OfficeEquipment 2023-12-31 07491422 2023-01-01 2023-12-31 07491422 2023-12-31 07491422 bus:OrdinaryShareClass1 2023-12-31 07491422 core:CurrentFinancialInstruments 2023-12-31 07491422 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 07491422 core:Non-currentFinancialInstruments 2023-12-31 07491422 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 07491422 core:FurnitureFittings 2023-12-31 07491422 core:OfficeEquipment 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07491422

Buckley & Beale Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Buckley & Beale Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Buckley & Beale Limited

(Registration number: 07491422)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

143

295

Current assets

 

Stocks

5

143,069

128,954

Debtors

6

105,863

89,354

Cash at bank and in hand

 

70,440

74,280

 

319,372

292,588

Creditors: Amounts falling due within one year

7

(91,303)

(81,724)

Net current assets

 

228,069

210,864

Total assets less current liabilities

 

228,212

211,159

Creditors: Amounts falling due after more than one year

7

(15,741)

(26,852)

Net assets

 

212,471

184,307

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

212,371

184,207

Shareholders' funds

 

212,471

184,307

 

Buckley & Beale Limited

(Registration number: 07491422)
Balance Sheet as at 31 December 2024 (continued)

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 27 March 2025 and signed on its behalf by:
 

.........................................
Mrs N T Finnamore
Director

 

Buckley & Beale 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:
Somerset House
Church Road
Tormarton
Badminton
GL9 1HT
England

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Buckley & Beale Limited

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

2

Accounting policies (continued)

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 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

Fixtures and fittings

25% Straight Line

Computer and office equipment

25% 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.

 

Buckley & Beale Limited

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

2

Accounting policies (continued)

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
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.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

Buckley & Beale Limited

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

4

Tangible assets

Fixtures and fittings
£

Computer and Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

2,642

18,010

20,652

At 31 December 2024

2,642

18,010

20,652

Depreciation

At 1 January 2024

2,637

17,720

20,357

Charge for the year

-

152

152

At 31 December 2024

2,637

17,872

20,509

Carrying amount

At 31 December 2024

5

138

143

At 31 December 2023

5

290

295

5

Stocks

2024
£

2023
£

Other inventories

143,069

128,954

6

Debtors

Current

2024
£

2023
£

Trade debtors

103,942

85,349

Prepayments

946

783

Other debtors

975

3,222

 

105,863

89,354

 

Buckley & Beale Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

11,111

11,111

Trade creditors

 

42,065

41,391

Taxation and social security

 

1,331

1,668

Accruals and deferred income

 

16,796

7,554

Other creditors

 

20,000

20,000

 

91,303

81,724

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

15,741

26,852

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

Buckley & Beale Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

15,741

26,852

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,111

11,111

10

Related party transactions

Other transactions with directors

At the balance sheet date the company owed the director, Mrs N T Finnamore, a balance of £20,000 (2023: £20,000).