Bee-Equipment Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04452359 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30th November 2021

for

Bee-Equipment Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P K Murfet

REGISTERED OFFICE:

The Pack House

Highland Court Farm

Coldharbour Lane

Bridge

Kent

CT4 5HW

REGISTERED NUMBER:

04452359 (England and Wales)

ACCOUNTANTS:

Blain Pritchard

Chartered Certified Accountants

29 High Street

Blue Town

SHEERNESS

Kent

ME12 1RN

FIXED ASSETS

Tangible assets

4

120,186

130,056

CURRENT ASSETS

Stocks

1,532,184

1,574,518

Debtors

5

261,960

121,361

Cash at bank and in hand

30,227

149,584

1,824,371

1,845,463

CREDITORS

Amounts falling due within one year

6

1,112,610

1,158,290

NET CURRENT ASSETS

711,761

687,173

TOTAL ASSETS LESS CURRENT LIABILITIES

831,947

817,229

CREDITORS

Amounts falling due after more than one year

7

(213,819

)

(267,947

)

PROVISIONS FOR LIABILITIES

(22,835

)

(24,711

)

NET ASSETS

595,293

524,571

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

595,193

524,471

595,293

524,571

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 22nd August 2022 and were signed by:

P Murfet - Director

1.	STATUTORY INFORMATION

Bee-Equipment Ltd 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 etc

-

25% on reducing balance, 25% on cost, 20% on cost and 10% on cost

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 Profit and Loss Account, 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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 24 (2020 - 22 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st December 2020

209,999

Additions

20,271

Disposals

(4,312

)

At 30th November 2021

225,958

DEPRECIATION

At 1st December 2020

79,943

Charge for year

26,260

Eliminated on disposal

(431

)

At 30th November 2021

105,772

NET BOOK VALUE

At 30th November 2021

120,186

At 30th November 2020

130,056

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

Plant and

machinery

etc

£

COST

At 1st December 2020

119,500

Additions

16,995

At 30th November 2021

136,495

DEPRECIATION

At 1st December 2020

23,900

Charge for year

16,199

At 30th November 2021

40,099

NET BOOK VALUE

At 30th November 2021

96,396

At 30th November 2020

95,600

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

178,440

7,535

Other debtors

83,520

113,826

261,960

121,361

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

136,133

45,180

Hire purchase contracts

24,926

20,208

Trade creditors

368,439

224,347

Taxation and social security

118,160

30,868

Other creditors

464,952

837,687

1,112,610

1,158,290

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

154,224

196,711

Hire purchase contracts

59,595

71,236

213,819

267,947

8.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank overdrafts

93,756

41,891

Svenska Handelsbaken Ab hold a fixed and floating charge of the Company's assets dated 6 July 2017.

9.	RELATED PARTY DISCLOSURES

A Balance of £375,450 (2020: £805,015) is owed to the director of the company, Mr P Murfet. This balance is repayable on demand.