Beacon Group Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04021843 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2022

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

37,376

51,645

Investments

5

-

-

37,376

51,645

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

6

1,294,156

1,000,688

Cash at bank and in hand

4,142

88,676

1,308,298

1,099,364

CREDITORS

Amounts falling due within one year

7

(907,204

)

(551,653

)

NET CURRENT ASSETS

401,094

547,711

TOTAL ASSETS LESS CURRENT LIABILITIES

438,470

599,356

CREDITORS

Amounts falling due after more than one year

8

(169,583

)

(234,149

)

PROVISIONS FOR LIABILITIES

10

(6,904

)

(9,572

)

NET ASSETS

261,983

355,635

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

261,883

355,535

SHAREHOLDERS' FUNDS

261,983

355,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 and authorised for issue on 6 December 2022 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 6 (2021 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2021

21,883

7,651

151,007

132,983

313,524

Additions

-

-

-

495

495

Disposals

-

-

(5,659

)

-

(5,659

)

At 30 June 2022

21,883

7,651

145,348

133,478

308,360

DEPRECIATION

At 1 July 2021

20,761

5,623

127,424

108,071

261,879

Charge for year

168

304

5,892

8,384

14,748

Eliminated on disposal

-

-

(5,643

)

-

(5,643

)

At 30 June 2022

20,929

5,927

127,673

116,455

270,984

NET BOOK VALUE

At 30 June 2022

954

1,724

17,675

17,023

37,376

At 30 June 2021

1,122

2,028

23,583

24,912

51,645

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

Motor

vehicles

£

COST

At 1 July 2021

and 30 June 2022

34,817

DEPRECIATION

At 1 July 2021

20,128

Charge for year

3,672

At 30 June 2022

23,800

NET BOOK VALUE

At 30 June 2022

11,017

At 30 June 2021

14,689

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: Unit 5 Kingside Business Park, Rushton Road, Woolwich, London, SE18 5BX

Nature of business: Dormant non trading

%

Class of shares:

holding

Ordinary

100.00

30.6.22

30.6.21

£

£

Aggregate capital and reserves

1

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Trade debtors

186,050

99,614

Other debtors

1,108,106

901,074

1,294,156

1,000,688

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans and overdrafts

116,343

72,739

Hire purchase contracts

-

4,850

Trade creditors

87,487

103,355

Taxation and social security

41,476

111,426

Other creditors

661,898

259,283

907,204

551,653

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.22

30.6.21

£

£

Bank loans

169,583

234,149

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.22

30.6.21

£

£

Bank overdraft

55,645

-

Bank loans

230,281

306,888

Hire purchase contracts

-

4,850

285,926

311,738

10.	PROVISIONS FOR LIABILITIES

30.6.22

30.6.21

£

£

Deferred tax

6,904

9,572

Deferred tax

£

Balance at 1 July 2021

9,572

Provided during year

(2,668

)

Balance at 30 June 2022

6,904

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.22

30.6.21

value:

£

£

100

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 2022 and 30 June 2021:

30.6.22

30.6.21

£

£

I P Larrassey

Balance outstanding at start of year

(103,123

)

45,632

Amounts advanced

154,116

267,446

Amounts repaid

(567,090

)

(416,201

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(516,097

)

(103,123

)

F Larrassey

Balance outstanding at start of year

601,295

241,225

Amounts advanced

229,535

478,763

Amounts repaid

(112,902

)

(118,693

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

717,928

601,295

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.

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 the company owed Mr I P Larrassey £516,097 (2021 - £103,123) Interest was charged at 2.5% on the loan. During the year interest of £1,550 (2021 - £3,433) was charged on this loan.

Dividends of £78,000 (2021 - £120,000) 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 (2021 - £120,000) 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 £53,000 (2021 - £53,000).

Dividends of £66,857 (2021 - £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 £717,928 (2021 - £601,295). Interest was charged at 2.5% on the loan. During the year interest of £18,742 (2021 - £11,256) was charged on this loan.

At the year end the company was owed £699 (2021 - £20,918) 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.