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 2020

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

130,056

155,868

CURRENT ASSETS

Stocks

1,574,518

1,233,818

Debtors

5

121,361

117,306

Cash at bank and in hand

149,584

79,011

1,845,463

1,430,135

CREDITORS

Amounts falling due within one year

6

1,158,290

957,954

NET CURRENT ASSETS

687,173

472,181

TOTAL ASSETS LESS CURRENT LIABILITIES

817,229

628,049

CREDITORS

Amounts falling due after more than one year

7

(267,947

)

(128,259

)

PROVISIONS FOR LIABILITIES

(24,711

)

(28,185

)

NET ASSETS

524,571

471,605

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

524,471

471,505

524,571

471,605

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2020 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 20th September 2021 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 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 22 (2019 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st December 2019

213,143

Additions

45,583

Disposals

(48,727

)

At 30th November 2020

209,999

DEPRECIATION

At 1st December 2019

57,275

Charge for year

25,322

Eliminated on disposal

(2,654

)

At 30th November 2020

79,943

NET BOOK VALUE

At 30th November 2020

130,056

At 30th November 2019

155,868

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

Plant and

machinery

etc

£

COST

At 1st December 2019

and 30th November 2020

119,500

DEPRECIATION

At 1st December 2019

11,950

Charge for year

11,950

At 30th November 2020

23,900

NET BOOK VALUE

At 30th November 2020

95,600

At 30th November 2019

107,550

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

7,535

50,047

Other debtors

113,826

67,259

121,361

117,306

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

45,180

57,563

Hire purchase contracts

20,208

40,452

Trade creditors

224,347

182,659

Taxation and social security

30,868

11,375

Other creditors

837,687

665,905

1,158,290

957,954

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

196,711

36,815

Hire purchase contracts

71,236

91,444

267,947

128,259

2020

2019

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

6,348

Hire purchase

-

4,033

-

10,381

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank overdrafts

41,891

48,173

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

9.	RELATED PARTY DISCLOSURES

Mr P Murfet is involved in other companies which has interacted with Bee-Equipment Ltd, being Artisan Bee Company Ltd and Burt's Country Store Ltd. Transactions between the related parties took place under normal market conditions,

A Balance of £805,015 (2019: £647,953) is owed to the director of the company, Mr P Murfet. This balance is repayable on demand.