BEA Building Products Limited Filleted accounts for Companies House (small and micro)

BEA BUILDING PRODUCTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04539821

BEA Building Products Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2021

BEA Building Products Limited

Statement of Financial Position

30 September 2021

	2021		2020
Note	£	£	£	£

Fixed assets

Tangible assets	5		22,355		24,837

Current assets

Stocks		229,653	225,385
Debtors	6	575,494	651,063
Cash at bank and in hand		1,152,254	1,223,109
		------------	------------
		1,957,401	2,099,557

Creditors: amounts falling due within one year	7	482,971		724,102
		------------		------------
Net current assets			1,474,430		1,375,455
			------------		------------
Total assets less current liabilities			1,496,785		1,400,292

Provisions

Taxation including deferred tax	4,247	4,719
	------------	------------
Net assets	1,492,538	1,395,573
	------------	------------

Capital and reserves

Called up share capital	12,300	12,300
Profit and loss account	1,480,238	1,383,273
	------------	------------
Shareholders funds	1,492,538	1,395,573
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

BEA Building Products Limited

Statement of Financial Position (continued)

30 September 2021

These financial statements were approved by the board of directors and authorised for issue on 7 September 2022 , and are signed on behalf of the board by:

Mr P R Tyler

Director

Company registration number: 04539821

BEA Building Products Limited

Notes to the Financial Statements

Year ended 30 September 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cromwell House, Heath Road, Warboys, Huntingdon, PE28 2UW, Cambridgeshire.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Factored debts

Factored debts are shown on the balance sheet as an asset of the company and a corresponding liability is shown in respect of the proceeds received from the factor. The interest element of the factors charge is recognised as it accrues and is charged to the profit and loss account in the relevant period.

Revenue recognition

The turnover shown in the profit and loss account represents goods sold during the year, exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	25% reducing balance
Fixtures and Fittings	-	25% reducing balance
Office Equipment	-	33% reducing balance

Stocks

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

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Grants that are receivable as compensation for expenses already incurred are recognised in income in the period in which it becomes receivable.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 8 (2020: 7 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 October 2020	4,638	3,293	60,480	68,411
Additions	–	–	6,547	6,547
	-------	-------	--------	--------
At 30 September 2021	4,638	3,293	67,027	74,958
	-------	-------	--------	--------
Depreciation
At 1 October 2020	4,300	3,246	36,028	43,574
Charge for the year	85	11	8,933	9,029
	-------	-------	--------	--------
At 30 September 2021	4,385	3,257	44,961	52,603
	-------	-------	--------	--------
Carrying amount
At 30 September 2021	253	36	22,066	22,355
	-------	-------	--------	--------
At 30 September 2020	338	47	24,452	24,837
	-------	-------	--------	--------

6. Debtors

	2021	2020
	£	£
Trade debtors	532,018	612,124
Other debtors	43,476	38,939
	---------	---------
	575,494	651,063
	---------	---------

7. Creditors: amounts falling due within one year

	2021	2020
	£	£
Trade creditors	288,399	357,772
Social security and other taxes	191,762	244,950
Other creditors	2,810	121,380
	---------	---------
	482,971	724,102
	---------	---------

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

		2021	2020
		£	£
		28,800	28,800