BEACON INTERNATIONAL LIMITED

BEACON INTERNATIONAL LIMITED

BEACON INTERNATIONAL LIMITED - Company Information

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BEACON INTERNATIONAL LIMITED

Company Registration Number:
03129971 (England and Wales)

Unaudited abridged accounts for the year ended 31 October 2018

Period of accounts

Start date: 01 November 2017

End date: 31 October 2018

BEACON INTERNATIONAL LIMITED

Contents of the Financial Statements

for the Period Ended 31 October 2018

Balance sheet
Notes

BEACON INTERNATIONAL LIMITED

Balance sheet

As at 31 October 2018


Notes
2018
2017


£
£
Fixed assets
Intangible assets: 3 47,580 57,808
Tangible assets: 4 861,723 815,619
Investments: 5 90 90
Total fixed assets: 909,393 873,517
Current assets
Stocks: 1,564,230 995,656
Debtors:   1,567,947 1,162,290
Cash at bank and in hand: 211,766 211,338
Total current assets: 3,343,943 2,369,284
Creditors: amounts falling due within one year: 6 (922,867) (489,439)
Net current assets (liabilities): 2,421,076 1,879,845
Total assets less current liabilities: 3,330,469 2,753,362
Creditors: amounts falling due after more than one year: 7 (391,839) (356,268)
Provision for liabilities: (37,100) (28,118)
Total net assets (liabilities): 2,901,530 2,368,976
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 2,901,430 2,368,876
Shareholders funds: 2,901,530 2,368,976

The notes form part of these financial statements

BEACON INTERNATIONAL LIMITED

Balance sheet statements

For the year ending 31 October 2018 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 August 2019
and signed on behalf of the board by:

Name: J C Goodhind
Status: Director

The notes form part of these financial statements

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

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

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Freehold property - 2% on costPlant and machinery - 20% on reducing balanceFixtures and fittings - 20% on reducing balanceMotor vehicles - 25% on reducing balanceComputer equipment - 20% on reducing balance

Intangible fixed assets and amortisation policy

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Computer software is being amortised evenly over its estimated useful life of nil years.Other intangible asset comprise of website costs and software. These costs are being amortised evenly over its estimated useful life of ten years.

Valuation and information policy

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

GoodwillGoodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.Investments in subsidiariesInvestments in subsidiary undertakings are recognised at cost.TaxationTaxation 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 taxDeferred 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 hey 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.Foreign currenciesAssets and liabilities in foreign currencies are translated into ste4rling t the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.Pension costs and other post-retirement benefitsThe 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.

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

2. Employees

2018 2017
Average number of employees during the period 37 27

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

3. Intangible Assets

Total
Cost £
At 01 November 2017 192,280
At 31 October 2018 192,280
Amortisation
At 01 November 2017 134,472
Charge for year 10,228
At 31 October 2018 144,700
Net book value
At 31 October 2018 47,580
At 31 October 2017 57,808

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

4. Tangible Assets

Total
Cost £
At 01 November 2017 996,376
Additions 125,031
Disposals (35,439)
At 31 October 2018 1,085,968
Depreciation
At 01 November 2017 180,757
Charge for year 62,356
On disposals (18,868)
At 31 October 2018 224,245
Net book value
At 31 October 2018 861,723
At 31 October 2017 815,619

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

5. Fixed investments

Shares in group undertakingsCost at 1 November 2017 and 31 October 2018 £90Net book value at 31 October 2018 £90At 31 October 2017 £90

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

6. Creditors: amounts falling due within one year note

2018Bank loan and overdrafts £27,761Hire purchase contracts £25,294Trade creditors £685,865Tax £78,244Social security and other taxes £18,421Other creditors £27,128Directors' current accounts £2,464Accrued expenses £57,690 £922,8672017Bank loan and overdrafts £28,069Hire purchase contracts £-Trade creditors £392,066Tax £6,102Social security and other taxes £13,226Other creditors £4,986Directors' current accounts £464Accrued expenses £44,526 £489,439

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

7. Creditors: amounts falling due after more than one year note

2018Bank loans - 2-5 years £111,043Bank loans more 5 years by instalments £217,939Hire purchase contracts £62,857 £391,839Amounts falling due in more than five yearsRepayable by instalmentsBank loans more 5 years by instalments £217,9392017Bank loans - 2-5 years £112,276Bank loans more 5 years by instalments £243,992Hire purchase contracts £- £356,268Amounts falling due in more than five yearsRepayable by instalmentsBank loans more 5 years by instalments £243,992

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

8. Loans to directors

The following advances and credits to a director subsisted during the years ended 31 October 2018 and 31 October 2017A R Lewis-Thomas2018Balance outstanding at start of year £- (2017 £-)Amounts advanced £16,746 (2017 £-)Amounts repaid £- (2017 £-)Amounts written off £- (2017 £-)Amounts waived £- (2017 £-)Balance outstanding at end of year £16,746 (2017 £-)

BEACON INTERNATIONAL LIMITED

Notes to the Financial Statements

for the Period Ended 31 October 2018

9. Related party transactions

Name of the related party: Beacon International (UK) Limited
Relationship:
Company controlled by Beacon International Limited
Description of the Transaction: Beacon International (UK) LimitedBeacon International (UK) Limited is a company controlled by Beacon International Limited by virtue of its 90% shareholding.During the year the company made sales of £1,186,109 (2017 - £851,259) and purchases of £125,787 (2017 - £129,728) on normal commercial terms, to and from Beacon International (UK) Limited.During the year the company charged a management charge to Beacon International (UK) Limited of £1,040,474 (2017 - £591,500).During the year dividends of £216,000 (2017 - £216,000) were received from Beacon International (UK) Limited.As at 31 October 2018 £921,914 (2017 £516,041) was due from Beacon International (UK) Limited
£
Balance at 01 November 2017 516,041
Balance at 31 October 2018 921,914