REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 10 November 2023 to 30 September 2024 |
for |
BEC Industries Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 10 November 2023 to 30 September 2024 |
for |
BEC Industries Ltd |
BEC Industries Ltd (Registered number: SC788896) |
Contents of the Financial Statements |
for the Period 10 November 2023 to 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
BEC Industries Ltd |
Company Information |
for the Period 10 November 2023 to 30 September 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
76 Dumbarton Road |
Clydebank |
Glasgow |
G81 1UG |
BEC Industries Ltd (Registered number: SC788896) |
Balance Sheet |
30 September 2024 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Retained earnings |
The director acknowledges his 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. |
The financial statements were approved by the director and authorised for issue on |
BEC Industries Ltd (Registered number: SC788896) |
Notes to the Financial Statements |
for the Period 10 November 2023 to 30 September 2024 |
1. | STATUTORY INFORMATION |
BEC Industries Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
Changes to estimates and underlying assumptions are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods, where the revision affects both current and future periods. |
The directors are of the opinion that there are no matters of significant judgements, estimates and assumptions that have significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial assets and liabilities are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company holds basic financial instruments which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and |
loans from banks and other related parties. |
Cash and cash equivalents comprise cash in hand and deposits held with banks. |
Trade and other debtors are initially recognised at the transaction cost, less any provision for impairment. At the end of each reporting year, the company assesses whether there is objective evidence that any asset may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all the amounts due according to the original terms of the financial assets. the amount of the provision is recognised immediately in the statement of income and retained earnings. |
Trade and other creditors are measured initially at the transaction price including any transaction costs. Amounts that are payable within one year are measured at the undiscounted amount expected to be payable. |
Bank loans are recognised at the fixed amount to be repaid. |
Taxation |
Taxation for the period 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. |
BEC Industries Ltd (Registered number: SC788896) |
Notes to the Financial Statements - continued |
for the Period 10 November 2023 to 30 September 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL. |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Amounts owed to group undertakings |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
During the period, total dividends of £75,417 were paid to the director . |
Included in debtors is a balance of £327,201 due by BEC Plastics Holdings Ltd. |
Included in creditors is a balance of £554,193 due to Wardpark Industries Ltd. |
Mr C McKinnon is a director of BEC Plastics Holdings Limited and Wardpark Industries Ltd. |
8. | ULTIMATE CONTROLLING PARTY |
The controlling party is C McKinnon. |