REGISTERED NUMBER: 01266579 (England and Wales)

B.E.C. (INGOLDMELLS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A E Chapman

Mrs L R Phillips

SECRETARY:

Mrs L R Phillips

REGISTERED OFFICE:

Brymar

Church Lane

Addlethorpe

Skegness

Lincolnshire

PE24 4UN

REGISTERED NUMBER:

01266579 (England and Wales)

ACCOUNTANTS:

Dexter & Sharpe (Skegness)

Chartered Certified Accountants

26 Ida Road

Skegness

Lincolnshire

PE25 2AR

FIXED ASSETS

Intangible assets

3

8,352

9,828

Tangible assets

4

86,051

89,950

Investment property

5

377,500

377,500

471,903

477,278

CURRENT ASSETS

Stocks

217,935

258,032

Debtors

6

25,757

19,363

Cash at bank and in hand

27,626

15,753

271,318

293,148

CREDITORS

Amounts falling due within one year

7

128,173

118,330

NET CURRENT ASSETS

143,145

174,818

TOTAL ASSETS LESS CURRENT LIABILITIES

615,048

652,096

CREDITORS

Amounts falling due after more than one year

8

3,824

9,563

NET ASSETS

611,224

642,533

CAPITAL AND RESERVES

Called up share capital

5,000

5,000

Share premium

1,399

1,399

Fair value reserve

10

101,495

101,495

Retained earnings

503,330

534,639

SHAREHOLDERS' FUNDS

611,224

642,533

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2025 and were signed on its behalf by:

A E Chapman - Director

Mrs L R Phillips - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents retail sales in the year net of vat

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment loss.

Computer software is being amortised on a reducing balance basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Long leasehold

-

2.5% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are valued at discounted retail price after allowing for obsolete items and discounts

Taxation

Taxation for the year 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.

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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

3.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 January 2024

and 31 December 2024

20,545

AMORTISATION

At 1 January 2024

10,717

Amortisation for year

1,476

At 31 December 2024

12,193

NET BOOK VALUE

At 31 December 2024

8,352

At 31 December 2023

9,828

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

and

Motor

leasehold

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2024

and 31 December 2024

107,474

59,283

37,050

203,807

DEPRECIATION

At 1 January 2024

27,858

52,429

33,570

113,857

Charge for year

1,992

1,037

870

3,899

At 31 December 2024

29,850

53,466

34,440

117,756

NET BOOK VALUE

At 31 December 2024

77,624

5,817

2,610

86,051

At 31 December 2023

79,616

6,854

3,480

89,950

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

377,500

NET BOOK VALUE

At 31 December 2024

377,500

At 31 December 2023

377,500

Fair value at 31 December 2024 is represented by:

£

Valuation in 2004

11,905

Valuation in 2008

20,000

Valuation in 2009

10,000

Valuation in 2015

81,869

Cost

253,726

377,500

If the investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

£

Cost

253,726

253,726

Investment properties were valued on an open market basis on 31 December 2021 by Banks Long & Co .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,924

3,617

Other debtors

23,833

15,746

25,757

19,363

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

7,476

7,574

Trade creditors

3,850

4,004

Taxation and social security

2,637

3,269

Other creditors

114,210

103,483

128,173

118,330

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

3,824

9,563

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

10,854

16,593

The bank loan is secured by fixed charge over the company's investment property.

10.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

101,495

11.	RELATED PARTY DISCLOSURES

The company operates part of its trade from land premises owned by the directors. No rental charge is made by the directors for the use of these facilities.

12.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr A Chapman and Mrs L Phillips directors and majority shareholders.