Beacon Group Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04021843 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2019

for

Beacon Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I P Larrassey

F Larrassey

SECRETARY:

Mrs T H Larrassey

REGISTERED OFFICE:

Unit 5

Kingside Business Park

Ruston Road

Woolwich

London

SE18 5BX

REGISTERED NUMBER:

04021843 (England and Wales)

ACCOUNTANTS:

Nichols & Co ( Accountancy ) Limited

Chartered Accountants

Unit 7

Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

FIXED ASSETS

Tangible assets

4

57,830

40,698

Investments

5

-

-

57,830

40,698

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

6

364,157

454,722

Cash at bank and in hand

455,591

399,170

829,748

863,892

CREDITORS

Amounts falling due within one year

7

(524,736

)

(516,852

)

NET CURRENT ASSETS

305,012

347,040

TOTAL ASSETS LESS CURRENT LIABILITIES

362,842

387,738

CREDITORS

Amounts falling due after more than one year

8

(90,276

)

(97,057

)

PROVISIONS FOR LIABILITIES

10

(10,590

)

(7,630

)

NET ASSETS

261,976

283,051

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

261,876

282,951

SHAREHOLDERS' FUNDS

261,976

283,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 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 on 27 January 2020 and were signed on its behalf by:

I P Larrassey - Director

1.	STATUTORY INFORMATION

Beacon Group 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.

2.	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.

TURNOVER

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

STOCKS

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

moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2018

21,883

7,651

126,695

100,284

256,513

Additions

-

-

34,816

3,252

38,068

Disposals

-

-

(10,504

)

-

(10,504

)

At 30 June 2019

21,883

7,651

151,007

103,536

284,077

DEPRECIATION

At 1 July 2018

20,056

4,348

105,107

86,304

215,815

Charge for year

274

496

13,974

5,686

20,430

Eliminated on disposal

-

-

(9,998

)

-

(9,998

)

At 30 June 2019

20,330

4,844

109,083

91,990

226,247

NET BOOK VALUE

At 30 June 2019

1,553

2,807

41,924

11,546

57,830

At 30 June 2018

1,827

3,303

21,588

13,980

40,698

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

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2018

35,053

28,180

63,233

Additions

34,817

-

34,817

Transfer to ownership

(35,053

)

(28,180

)

(63,233

)

At 30 June 2019

34,817

-

34,817

DEPRECIATION

At 1 July 2018

29,507

21,056

50,563

Charge for year

8,704

-

8,704

Transfer to ownership

(29,507

)

(21,056

)

(50,563

)

At 30 June 2019

8,704

-

8,704

NET BOOK VALUE

At 30 June 2019

26,113

-

26,113

At 30 June 2018

5,546

7,124

12,670

5.	FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Beacon Mechanical Services Limited

Registered office:

Nature of business: Dormant non trading

%

Class of shares:

holding

Ordinary

100.00

30.6.19

30.6.18

£

£

Aggregate capital and reserves

1

1

Beacon Ideas Limited

Registered office:

Nature of business: Dormant non trading

%

Class of shares:

holding

Ordinary

100.00

30.6.19

30.6.18

£

£

Aggregate capital and reserves

1

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

166,349

355,014

Other debtors

197,808

99,708

364,157

454,722

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Bank loans and overdrafts

25,089

25,089

Hire purchase contracts

10,418

-

Trade creditors

344,877

220,848

Taxation and social security

52,751

147,264

Other creditors

91,601

123,651

524,736

516,852

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.19

30.6.18

£

£

Bank loans

76,444

97,057

Hire purchase contracts

13,832

-

90,276

97,057

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.19

30.6.18

£

£

Bank loans

101,533

122,146

Hire purchase contracts

24,250

-

125,783

122,146

10.	PROVISIONS FOR LIABILITIES

30.6.19

30.6.18

£

£

Deferred tax

10,590

7,630

Deferred

tax

£

Balance at 1 July 2018

7,630

Provided during year

2,960

Balance at 30 June 2019

10,590

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.19

30.6.18

value:

£

£

100

Ordinary

£1

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2019 and

30 June 2018:

30.6.19

30.6.18

£

£

I P Larrassey

Balance outstanding at start of year

22,935

431,003

Amounts advanced

1,279,956

275,697

Amounts repaid

(1,216,329

)

(683,765

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

86,562

22,935

F Larrassey

Balance outstanding at start of year

(61,629

)

(34,133

)

Amounts advanced

121,631

39,783

Amounts repaid

(67,734

)

(67,279

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7,732

)

(61,629

)

The above figures are aggregate advances and credits to the directors. Interest is charged at 3% on the above

loan and the loan is repayable upon demand.

13.	RELATED PARTY DISCLOSURES

Mr I P Larrassey, a director of the company, personally guarantees the bank overdraft facility and the bank loan.

The assets of the Beacon Group Pension Scheme are held for the benefit of Mr I P Larrassey who is a

shareholder and director of the company and Mrs T Larrassey who is a shareholder of the company.

At the balance sheet date Mr I P Larrassey owed the company £86,562 (2018 £22,935). Interest was charged at

3% on the loan. During the year interest of £2,126 (2018 - £5,466) was charged on this loan.

Dividends of £78,000 (2018 - £78,000) were declared and paid in the year to I P Larrassey, who is the director

of the company and also a shareholder.

Dividends of £78,000 (2018 - £78,000) were declared and paid in the year to Mrs T Larrassey, who is a

shareholder and wife of Mr I Larrassey the director of the company.

The company made rental payments to Mr I P Larrassey and Mrs T Larrassey of £54,498 (2018 - £49,350).

Dividends of £66,857 (2018 - £ 66,857) were declared and paid in the year to Mr F Larrassey, who is the

director of the company and also a shareholder.

At the balance sheet date the company owed Mr F Larrassey £7,732 (2018 £61,629). Interest was charged at 3%

on the loan. During the year interest of £16 (2018 - £Nil) was charged on this loan.

14.	CONTROLLING PARTY

The company is controlled by Mr I P Larrassey and Mrs T Larrassey, who together own 70 % of the issued share

capital of the company.