Beach Baker Limited Accounts

BEACH BAKER LIMITED - Company Information






Beach Baker Limited

	Company No. 06462295
		Information for Filing with The Registrar
		31 December 2020

at	31 December 2020
Company No.		06462295	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	224	6,769


				224	6,769
Current assets

	Debtors		5	166,997	161,655

	Cash at bank and in hand			408,734	134,042
				575,731	295,697
Creditors: Amount falling due within one year			6	(216,711)	(194,229)
Net current assets				359,020	101,468
Total assets less current liabilities				359,244	108,237
Creditors: Amounts falling due after more than one year			7	(358,395)	(138,224)
Provisions for liabilities
	Deferred taxation		8	-	(1,286)

Net assets/(liabilities)				849	(31,273)

Capital and reserves
	Called up share capital			2,000	2,000



	Profit and loss account		9	(1,151)	(33,273)

Total equity				849	(31,273)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 December 2020 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 10 September 2021
And signed on its behalf by:
R.W. Stuart-Baker
Director
10 September 2021

for the year ended 31 December 2020

General information

Its registered number is: 06462295

Its registered office is:

40 Berkeley Square

Bristol

BS8 1HP

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Going concern

The accounts have been prepared on the assumption that the company is able to continue as a going concern. Although the full impact of the Coronavirus pandemic is still uncertain, the director considers it appropriate having regard to the cost savings achieved and the additional funding that the company has been able to access from the government support offered during the pandemic.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Coronavirus Government Support Schemes

Grant income is recognised when the company is legally entitled to the funds, the amount can be quantified with reasonable accuracy and any performance conditions attached to the income have been met. The company has taken advantage of the Coronavirus Business Interruption Loan Scheme and the interest and outstanding balance is recognised in line with the loan agreement.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

20/25% Straight line

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Freehold investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.

Investments

Unlisted investments are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, any changes in fair value are recognised in profit and loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs.

Work in progress is reflected in the accounts on a contract by contract basis by recording revenue and related costs as contract activity progresses.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2020	2019
			Number	Number
		The average monthly number of employees (including directors) during the year was:	6	11

4	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 January 2020	62,885	62,885



		Disposals	(55,869)	(55,869)
		At 31 December 2020	7,016	7,016
		Depreciation
		At 1 January 2020	56,116	56,116
		Charge for the year	6,545	6,545


		Disposals	(55,869)	(55,869)
		At 31 December 2020	6,792	6,792
		Net book values
		At 31 December 2020	224	224
		At 31 December 2019	6,769	6,769

5	Debtors
			2020	2019
			£	£
		Trade debtors	114,569	131,143
		Amounts owed by group undertakings	30,000	-




		Other debtors	11,593	14,042
		Prepayments and accrued income	10,835	16,470
			166,997	161,655

6	Creditors:
		amounts falling due within one year
			2020	2019
			£	£

		Bank loans and overdrafts	33,098	35,004
		Other loans	48,602	46,857

		Trade creditors	32,259	58,374

		Corporation tax	24,246	-
		Other taxes and social security	75,018	48,378

		Other creditors	1,547	3,674
		Accruals and deferred income	1,941	1,942
			216,711	194,229

7	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	259,510	-
		Other loans	98,885	138,224





			358,395	138,224

		Liabilities repayable in more than five years after the balance sheet date
		Amount repayable by instalments	25,000

			25,000

		The company has taken out a loan under the Coronavirus Business Interruption Loan Scheme and the final repayments are due more than five years after the balance sheet date.

8	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 January 2020	1,286	1,286
		Charge to the profit and loss account for the period	(1,286)	(1,286)





			2020	2019
			£	£
		Accelerated capital allowances	-	1,286



			-	1,286

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

10	Dividends
			2020	2019
			£	£
		Dividends for the period:
		Dividends paid in the period	69,000	70,000

			69,000	70,000

		Dividends by type:

		Equity dividends	69,000	70,000
			69,000	70,000

Related party disclosures

2020

Transactions with related parties

Name of related party

Chantry Holdings Limited

Description of relationship between the parties

Chantry Holdings Limited owns 50% of the shares in Beach Baker Limited

Description of transaction and general amounts involved

Beach Baker Limited has loaned £30,000 towards payments of liabilities

Amount due from/(to) the related party

30,000