Beveridge Flooring Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 5363749

Beveridge Flooring Limited

Filleted Unaudited Financial Statements

31 March 2025

Beveridge Flooring Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5	89,183	87,414
Investments	6	100,000	100,000
		---------	---------
		189,183	187,414

Current assets

Stocks		414,702	410,168
Debtors	7	581,736	656,380
Cash at bank and in hand		1,213,922	1,119,780
		------------	------------
		2,210,360	2,186,328

Creditors: amounts falling due within one year	8	591,948		556,235
		------------		------------
Net current assets			1,618,412	1,630,093
			------------	------------
Total assets less current liabilities			1,807,595	1,817,507

Provisions

Taxation including deferred tax	5,296	4,960
	------------	------------
Net assets	1,802,299	1,812,547
	------------	------------

Capital and reserves

Called up share capital	9,500	9,500
Profit and loss account	1,792,799	1,803,047
	------------	------------
Shareholders funds	1,802,299	1,812,547
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Beveridge Flooring Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 July 2025 , and are signed on behalf of the board by:

P A Beveridge Esq
Director

Company registration number: 5363749

Beveridge Flooring Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, PO12 1LY.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

No significant judgements have been made by the director in preparing these financial statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are 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. Deferred tax is measured 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	25% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	15 % reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Staff

The average number of persons employed by the company during the year amounted to 13 (2024: 13 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£
Cost
At 1 April 2024	13,107	200,620	16,420	230,147
Additions	–	30,750	–	30,750
	--------	---------	--------	---------
At 31 March 2025	13,107	231,370	16,420	260,897
	--------	---------	--------	---------
Depreciation
At 1 April 2024	12,793	119,124	10,816	142,733
Charge for the year	79	28,061	841	28,981
	--------	---------	--------	---------
At 31 March 2025	12,872	147,185	11,657	171,714
	--------	---------	--------	---------
Carrying amount
At 31 March 2025	235	84,185	4,763	89,183
	--------	---------	--------	---------
At 31 March 2024	314	81,496	5,604	87,414
	--------	---------	--------	---------

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2024 and 31 March 2025	200,000
	---------
Impairment
At 1 April 2024 and 31 March 2025	100,000
	---------

Carrying amount
At 31 March 2025	100,000
	---------
At 31 March 2024	100,000
	---------

The investment comprises of fifty percent share of the land at the Commercial Yard, Dutton Lane, Eastleigh,Hampshire, SO50 6AB with a cost priceof £200,000. The investment is reflected in the accounts at its fair value at the balance sheet date. The valuation is carried out annually by P A Beveridge Esq , the director with reference to the open market.

7. Debtors

	2025	2024
	£	£
Trade debtors	5,233	63,865
Other debtors	576,503	592,515
	---------	---------
	581,736	656,380
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	118,690	137,267
Corporation tax	63,956	105,308
Social security and other taxes	16,122	11,899
Other creditors	393,180	301,761
	---------	---------
	591,948	556,235
	---------	---------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P A Beveridge Esq	( 41,707)	1,531	( 40,176)
A C Beveridge Esq	( 80)	–	( 80)
R Hawkins Esq	( 508)	–	( 508)
Ms S.J. Huckle	( 41,707)	1,530	( 40,177)
	--------	-------	--------
	( 84,002)	3,061	( 80,941)
	--------	-------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
P A Beveridge Esq	( 75,048)	33,341	( 41,707)
A C Beveridge Esq	( 80)	–	( 80)
R Hawkins Esq	( 508)	–	( 508)
Ms S.J. Huckle	( 75,048)	33,341	( 41,707)
	---------	--------	--------
	( 150,684)	66,682	( 84,002)
	---------	--------	--------

10. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Ridgehall Limited	2,613	(40,739)	343,410	340,797
Beveridge Equestrian Limited	–	–	140,878	140,878
	-------	--------	---------	---------

P Beveridge Esq is a director of Ridgehall Limited and holds one hundred per cent of the issued voting share capital in this company. Ridgehall Limited holds 100 non-voting 'D' shares in Beveridge Flooring Limited . P Beveridge Esq is a director of Beveridge Equestrian Limited. Ridgehall Limited holds 100 percent of the voting share capital in Beveridge Equestrian Limited.