REGISTERED NUMBER: 07173320 (England and Wales)

BEAUMONT DRYLINING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J R A Beaumont

REGISTERED OFFICE:

Unit 3 Eurotech Park

Burrington Way

PLYMOUTH

Devon

PL5 3LZ

REGISTERED NUMBER:

07173320 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

116,254

116,887

CURRENT ASSETS

Stocks

242,500

156,609

Debtors

1,407,801

1,295,630

Cash at bank

31,774

84,103

1,682,075

1,536,342

CREDITORS

Amounts falling due within one year

1,094,327

975,065

NET CURRENT ASSETS

587,748

561,277

TOTAL ASSETS LESS CURRENT LIABILITIES

704,002

678,164

CREDITORS

Amounts falling due after more than one year

(65,114

)

(64,841

)

PROVISIONS FOR LIABILITIES

(27,000

)

(25,800

)

NET ASSETS

611,888

587,523

CAPITAL AND RESERVES

Called up share capital

110

110

Retained earnings

611,778

587,413

611,888

587,523

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

Mr J R A Beaumont - Director

1.	STATUTORY INFORMATION

Beaumont Drylining Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Profit is recognised on long term contracts, if the final outcome can be assessed with reasonable certainty, by including in the profit and loss account the turnover and related costs as contract activity progresses. All losses that can be anticipated with certainty are recognised at the earliest opportunity.

The stage of completion is measured by the proportion of contract costs incurred for work performed to date to the estimated total contract costs. Full provision is made for all known or expected losses on individual contracts once such losses are foreseen. Revenue in respect of variations to contracts are recognised when it is probable it will be agreed by the client.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

20% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

33% on cost and 25% on reducing balance

Motor vehicles

-

25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Work in progress

Work in progress is valued at the lower of cost and net realisable value.

Work in progress represents the value of costs incurred in respect of work undertaken that has not been invoiced at the balance sheet date.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

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.

At inception the Company assesses agreements that transfer the right to use assets. The assessment considers whether the arrangement is a finance lease or an operating lease based on the substances of the arrangement.

Finance leases

Leases of assets that transfer substantially all the risks and rewards of ownership to the Company are classified as finance leases.

Assets held under finance leases are recognized initially at the fair value of the leased asset (or, if lower, the present value of minimum lease payments) at the inception of the lease. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation. Lease payments are apportioned between finance charges and reduction of the lease obligation using the effective interest method so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are deducted in measuring profit or loss.

Assets held under finance leases are included in tangible fixed assets and depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits

Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provision for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 October 2023

325,034

Additions

41,019

At 30 September 2024

366,053

DEPRECIATION

At 1 October 2023

208,147

Charge for year

41,652

At 30 September 2024

249,799

NET BOOK VALUE

At 30 September 2024

116,254

At 30 September 2023

116,887

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 October 2023

158,982

Additions

31,244

At 30 September 2024

190,226

DEPRECIATION

At 1 October 2023

70,752

Charge for year

22,771

At 30 September 2024

93,523

NET BOOK VALUE

At 30 September 2024

96,703

At 30 September 2023

88,230

6.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

£

Net obligations repayable:

Within one year

21,256

20,441

Between one and five years

47,242

39,862

68,498

60,303

During the year, all operating leases were repaid in full and no new leases were taken out.

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

68,498

60,303

The debts are secured against the assets to which they relate.