Betec Limited 31/12/2020 iXBRL

Betec Limited 31/12/2020 iXBRL

BETEC LTD - Company Information

Print Friendly Version

3 31/12/2020 2020-12-31 false false false false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2020-01-01 Sage Accounts Production 2020 Update 1 - FRS102_2019 xbrli:pure xbrli:shares iso4217:GBP 03685286 2020-01-01 2020-12-31 03685286 2020-12-31 03685286 2019-12-31 03685286 2019-12-31 03685286 core:PlantMachinery 2020-01-01 2020-12-31 03685286 core:FurnitureFittingsToolsEquipment 2020-01-01 2020-12-31 03685286 core:MotorVehicles 2020-01-01 2020-12-31 03685286 bus:RegisteredOffice 2020-01-01 2020-12-31 03685286 bus:LeadAgentIfApplicable 2020-01-01 2020-12-31 03685286 bus:Director1 2020-01-01 2020-12-31 03685286 bus:Director2 2020-01-01 2020-12-31 03685286 core:WithinOneYear 2020-12-31 03685286 core:WithinOneYear 2019-12-31 03685286 core:AfterOneYear 2020-12-31 03685286 core:ShareCapital 2020-12-31 03685286 core:ShareCapital 2019-12-31 03685286 core:RetainedEarningsAccumulatedLosses 2020-12-31 03685286 core:RetainedEarningsAccumulatedLosses 2019-12-31 03685286 bus:Director1 2020-12-31 03685286 bus:Director2 2020-12-31 03685286 bus:SmallEntities 2020-01-01 2020-12-31 03685286 bus:AuditExemptWithAccountantsReport 2020-01-01 2020-12-31 03685286 bus:AbridgedAccounts 2020-01-01 2020-12-31 03685286 bus:SmallCompaniesRegimeForAccounts 2020-01-01 2020-12-31 03685286 bus:PrivateLimitedCompanyLtd 2020-01-01 2020-12-31
Company registration number: 03685286
Betec Limited
Unaudited filleted abridged financial statements
31 December 2020
Betec Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
Betec Limited
Directors and other information
Directors Derek Chapman
Richard Paul Hicks
Company number 03685286
Registered office 1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Accountants Alan James & Associates
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
Betec Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Betec Limited
Year ended 31 December 2020
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Betec Limited for the year ended 31 December 2020 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Betec Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Betec Limited and state those matters that we have agreed to state to the board of directors of Betec Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Betec Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Betec Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Betec Limited. You consider that Betec Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Betec Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Alan James & Associates
1 Shepperton Marina
Felix Lane
Shepperton
Middlesex
TW17 8NS
16 September 2021
Betec Limited
Abridged statement of financial position
31 December 2020
2020 2019
Note £ £ £ £
Fixed assets
Tangible assets 5 15,755 20,974
_______ _______
15,755 20,974
Current assets
Stocks 13,500 13,500
Debtors 16,439 52,335
Cash at bank and in hand 10,498 2,486
_______ _______
40,437 68,321
Creditors: amounts falling due
within one year ( 35,275) ( 65,081)
_______ _______
Net current assets 5,162 3,240
_______ _______
Total assets less current liabilities 20,917 24,214
Creditors: amounts falling due
after more than one year ( 20,819) -
_______ _______
Net assets 98 24,214
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 96 24,212
_______ _______
Shareholders funds 98 24,214
_______ _______
For the year ending 31 December 2020 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.
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 abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 December 2020 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 16 September 2021 , and are signed on behalf of the board by:
Richard Paul Hicks
Director
Company registration number: 03685286
Betec Limited
Notes to the financial statements
Year ended 31 December 2020
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 1 Shepperton Marina, Felix Lane, Shepperton, Middlesex, TW17 8NS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 - 20 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2019: Nil).
5. Tangible assets
£
Cost
At 1 January 2020 and 31 December 2020 83,913
_______
Depreciation
At 1 January 2020 62,939
Charge for the year 5,219
_______
At 31 December 2020 68,158
_______
Carrying amount
At 31 December 2020 15,755
_______
At 31 December 2019 20,974
_______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2020
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Derek Chapman - 20,160 ( 20,183) ( 23)
Richard Paul Hicks - 15,916 ( 15,933) ( 17)
_______ _______ _______ _______
- 36,076 ( 36,116) ( 40)
_______ _______ _______ _______
2019
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Derek Chapman - - - -
Richard Paul Hicks - - - -
_______ _______ _______ _______