Company Registration No. 04312971 (England and Wales)
Beta Distribution (South) Ltd
Unaudited accounts
for the year ended 31 March 2023
Beta Distribution (South) Ltd
Unaudited accounts
Contents
Beta Distribution (South) Ltd
Company Information
for the year ended 31 March 2023
Directors
Mr S Srdanovic
Mr D A King
Company Number
04312971 (England and Wales)
Registered Office
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Accountants
Wellden Turnbull Limited
Albany House
Claremont Lane
Esher
Surrey
KT10 9FQ
Beta Distribution (South) Ltd
Statement of financial position
as at 31 March 2023
Intangible assets
66,040
69,777
Tangible assets
374,413
497,057
Debtors
2,259,702
2,367,184
Cash at bank and in hand
972,701
781,185
Creditors: amounts falling due within one year
(1,613,361)
(1,681,780)
Net current assets
1,633,352
1,480,464
Total assets less current liabilities
2,073,805
2,444,575
Creditors: amounts falling due after more than one year
(135,126)
(165,200)
Provisions for liabilities
Deferred tax
(72,811)
(121,948)
Net assets
1,865,868
2,157,427
Called up share capital
112
112
Profit and loss account
1,865,756
2,157,315
Shareholders' funds
1,865,868
2,157,427
For the year ending 31 March 2023 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 December 2023 and were signed on its behalf by
Mr S Srdanovic
Director
Company Registration No. 04312971
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
Beta Distribution (South) Ltd is a private company, limited by shares, registered in England and Wales, registration number 04312971. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are presented in sterling, which is the functional currency of the company and are rounded to the nearest £.
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Sale of goods:
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- 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 Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Rendering of services:
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with
the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant & machinery
25% on the reducing balance basis
Motor vehicles
25% on the reducing balance basis
Fixtures & fittings
25% on the reducing balance basis
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met:
- The technical feasibility of completing the intangible asset so that it will be available for use or sale.
- Its intention to complete the intangible asset and use or sell it.
- Its ability to use or sell the intangible asset.
- How the intangible asset will generate probable future economic benefits. Among other things, the entity can demonstrate the existence of a market for the output of the intangible asset or the intangible asset itself or, if it is to be used internally, the usefulness of the intangible asset.
- The availability of adequate technical, financial and other resources to complete the development and to use or sell the intangible asset.
- Its ability to measure reliably the expenditure attributable to the intangible asset during its development.
The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which shall not exceed 10 years.
Investment in subsidiary is measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of
acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and other creditors.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the statement of comprehensive income on a straight line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the
leased asset.
Leased assets: the Company as lessee
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
Tax is recognised in the statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax liabilities are generally recognised for all timing differences and 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 calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.
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Intangible fixed assets
Other
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2022
476,756
482,790
146,644
1,106,190
Additions
61,887
32,893
19,184
113,964
Disposals
(250,098)
(55,952)
(13,843)
(319,893)
At 31 March 2023
288,545
459,731
151,985
900,261
At 1 April 2022
216,514
310,595
82,024
609,133
Charge for the year
67,576
49,317
18,158
135,051
On disposals
(159,251)
(53,026)
(6,059)
(218,336)
At 31 March 2023
124,839
306,886
94,123
525,848
At 31 March 2023
163,706
152,845
57,862
374,413
At 31 March 2022
260,242
172,195
64,620
497,057
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
35,220
168,535
- Motor vehicles
102,047
146,253
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Investments
Other investments
Valuation at 1 April 2022
397,277
Valuation at 31 March 2023
-
Amounts falling due within one year
Trade debtors
1,944,498
2,079,202
Accrued income and prepayments
152,784
111,844
Other debtors
162,420
176,138
Beta Distribution (South) Ltd
Notes to the Accounts
for the year ended 31 March 2023
8
Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
82,222
93,267
Trade creditors
655,146
534,378
Taxes and social security
547,463
732,958
Other creditors
12,791
89,502
Loans from directors
-
122
9
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
135,126
165,200
Allotted, called up and fully paid:
8,400 Ordinary shares of £0.01 each
84.00
84.00
2,800 G Shares of £0.01 each
28.00
28.00
- Ordinary M Shares of £0.01 each
-
0.04
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Operating lease commitments
2023
2022
At 31 March 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
29,459
99,799
Later than one year and not later than five years
63,339
28,533
12
Average number of employees
During the year the average number of employees was 2 (2022: 2).
