Beacon Group Limited - Accounts to registrar (filleted) - small 18.2
Beacon Group Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2020 |
for |
Beacon Group Limited |
Beacon Group Limited (Registered number: 04021843) |
Contents of the Financial Statements |
for the Year Ended 30 June 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Beacon Group Limited |
Company Information |
for the Year Ended 30 June 2020 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Unit 7 |
Mulberry Place |
Pinnell Road |
Eltham |
London |
SE9 6AR |
Beacon Group Limited (Registered number: 04021843) |
Balance Sheet |
30 June 2020 |
30.6.20 | 30.6.19 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Beacon Group Limited (Registered number: 04021843) |
Balance Sheet - continued |
30 June 2020 |
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 and authorised for issue on |
Beacon Group Limited (Registered number: 04021843) |
Notes to the Financial Statements |
for the Year Ended 30 June 2020 |
1. | STATUTORY INFORMATION |
Beacon Group Limited is a |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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 |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
Beacon Group Limited (Registered number: 04021843) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor | Computer |
machinery | fittings | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2019 |
and 30 June 2020 |
DEPRECIATION |
At 1 July 2019 |
Charge for year |
At 30 June 2020 |
NET BOOK VALUE |
At 30 June 2020 |
At 30 June 2019 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 July 2019 |
and 30 June 2020 |
DEPRECIATION |
At 1 July 2019 |
Charge for year |
At 30 June 2020 |
NET BOOK VALUE |
At 30 June 2020 |
At 30 June 2019 |
Beacon Group Limited (Registered number: 04021843) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
5. | FIXED ASSET INVESTMENTS |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Unit 5 Kingside Business Park, Rushton Road, Woolwich, London, SE18 5BX |
Nature of business: |
% |
Class of shares: | holding |
30.6.20 | 30.6.19 |
£ | £ |
Aggregate capital and reserves |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.6.20 | 30.6.19 |
£ | £ |
Bank loans |
Hire purchase contracts | 14,550 | 24,250 |
Beacon Group Limited (Registered number: 04021843) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
10. | PROVISIONS FOR LIABILITIES |
30.6.20 | 30.6.19 |
£ | £ |
Deferred tax | 7,823 | 10,590 |
Deferred |
tax |
£ |
Balance at 1 July 2019 |
Provided during year | ( |
) |
Balance at 30 June 2020 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.20 | 30.6.19 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following aggregate advances and aggregate credits to directors subsisted during the years ended 30 June 2020 and 30 June 2019: |
30.6.20 | 30.6.19 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
The above figures are aggregate advances and credits to the directors. Interest is charged at 2.5% on the above loan and the loan is repayable upon demand. |
Beacon Group Limited (Registered number: 04021843) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2020 |
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 £45,632 (2019 - £86,562). Interest was charged at 2.5% on the loan. During the year interest of £4,268 (2019 - £2,126) was charged on this loan. |
Dividends of £140,000 (2019 - £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 £140,000 (2019 - £78,000) were declared and paid in the year to Mrs T Larrassey, who is a shareholder and wife of Mr I P Larrassey the director of the company. |
The company made rental payments to Mr I P Larrassey and Mrs T Larrassey of £54,250 (2019 - £54,498). |
Dividends of £70,000 (2019 - £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 Mr F Larrassey owed the company £241,255 (2019 - £7,732 was owed to Mr F Larrassey). Interest was charged at 2.5% on the loan. During the year interest of £3,289 (2019 - £16) was charged on this loan. |
At the year end the company was owed £12,737 from Beacon Building Ltd, a company owned by Mr I P Larrassey. |
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. |