Company Registration No. 03127909 (England and Wales)
Beaconvale Developments Limited
Unaudited accounts
for the year ended 30 November 2019
Beaconvale Developments Limited
Unaudited accounts
Contents
Beaconvale Developments Limited
Statement of financial position
as at 30 November 2019
Tangible assets
82,824
88,125
Inventories
885,210
295,222
Cash at bank and in hand
168,931
815,034
Creditors: amounts falling due within one year
(129,643)
(177,472)
Net current assets
927,652
939,998
Total assets less current liabilities
1,010,476
1,028,123
Provisions for liabilities
Deferred tax
(15,736)
(16,744)
Net assets
994,740
1,011,379
Called up share capital
155,000
155,000
Profit and loss account
839,740
856,379
Shareholders' funds
994,740
1,011,379
For the year ending 30 November 2019 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2020 and were signed on its behalf by
P A Wall
Director
Company Registration No. 03127909
Beaconvale Developments Limited
Notes to the Accounts
for the year ended 30 November 2019
Beaconvale Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 03127909. The registered office is 26 Lower Woodcock Street, Castle Cary, Somerset, BA7 7BH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Computer equipment
20% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Beaconvale Developments Limited
Notes to the Accounts
for the year ended 30 November 2019
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 December 2018
7,577
176,241
33,057
7,328
224,203
Additions
-
5,929
-
285
6,214
Disposals
(7,577)
(26,518)
-
(5,273)
(39,368)
At 30 November 2019
-
155,652
33,057
2,340
191,049
At 1 December 2018
7,577
102,634
18,663
7,204
136,078
Charge for the year
-
8,213
2,988
314
11,515
On disposals
(7,577)
(26,518)
-
(5,273)
(39,368)
At 30 November 2019
-
84,329
21,651
2,245
108,225
At 30 November 2019
-
71,323
11,406
95
82,824
At 30 November 2018
-
73,607
14,394
124
88,125
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
-
46,200
Work in progress
883,710
293,722
Accrued income and prepayments
4,666
5,458
Beaconvale Developments Limited
Notes to the Accounts
for the year ended 30 November 2019
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
-
11,611
Taxes and social security
(2,081)
29,536
Other creditors
2,745
2,270
Loans from directors
125,449
129,025
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Average number of employees
During the year the average number of employees was 2 (2018: 2).
