B.C.E.(Distributors) Limited - Accounts to registrar (filleted) - small 23.2.5
B.C.E.(Distributors) Limited - Accounts to registrar (filleted) - small 23.2.5
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 June 2023 |
for |
B.C.E.(DISTRIBUTORS) LIMITED |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Contents of the Financial Statements |
for the year ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
B.C.E.(DISTRIBUTORS) LIMITED |
Company Information |
for the year ended 30 June 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Auditors: |
Chartered Accountants and Statutory Auditors |
3rd Floor |
Marlborough House, 298 Regents Park Road |
Finchley |
London |
N3 2SZ |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Current assets |
Stocks |
Debtors | 7 |
Cash at bank |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year | 9 |
Net assets |
Capital and reserves |
Called up share capital | 11 |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds |
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 Board of Directors and authorised for issue on |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements |
for the year ended 30 June 2023 |
1. | Statutory information |
B.C.E.(Distributors) Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis. |
Key source of estimation, uncertainty and judgement |
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. |
There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets. |
There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of. |
There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable. |
There is estimation uncertainty in calculating stock provisions. A full line by line review of stock is carried out at the Year End. Whilst every attempt is made to ensure that the value of stock is as accurate as possible, there remains a risk that the provisions do not match the level of stock which ultimately prove to be obsolete. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Trade marks and licenses are being amortised at rates from 10% to 33% on cost. |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
2. | Accounting policies - continued |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
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. |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
2. | Accounting policies - continued |
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. |
Foreign currencies |
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
4. | Intangible fixed assets |
Patents and |
licences |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Amortisation |
At 1 July 2022 |
Amortisation for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
5. | Tangible fixed assets |
Short | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
5. | Tangible fixed assets - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
Cost |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 July 2022 |
Disposals | ( |
) |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
7. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
8. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 10) |
Trade creditors |
Taxation and social security |
Other creditors |
9. | Creditors: amounts falling due after more than one year |
2023 | 2022 |
£ | £ |
Hire purchase contracts (see note 10) |
Other creditors |
10. | Leasing agreements |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable |
operating leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
B.C.E.(DISTRIBUTORS) LIMITED (REGISTERED NUMBER: 01228770) |
Notes to the Financial Statements - continued |
for the year ended 30 June 2023 |
11. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 2,202,065 | 2,202,065 |
12. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
13. | Related party disclosures |
At the balance sheet date loans from the directors amounting to £112,000 (2022: £112,000) and £224,000 (2022: £336,000) are included within other creditors falling due within year and other creditors falling due after more than one year respectively. Interest on the loan is charged at 4% per annum and amounts to £16,803 for the year. |