Beal Davis Software Limited Accounts

BEAL DAVIS SOFTWARE LIMITED - Company Information






Beal Davis Software Limited

	Company No. 05149788
		Information for Filing with The Registrar
		30 June 2023

at	30 June 2023
Company No.		05149788	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	5,203	5,112


				5,203	5,112
Current assets

	Debtors		5	136,809	91,341

	Cash at bank and in hand			754,383	699,194
				891,192	790,535
Creditors: Amount falling due within one year			6	(202,129)	(175,434)
Net current assets				689,063	615,101
Total assets less current liabilities				694,266	620,213




Net assets				694,266	620,213

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		8	694,166	620,113

Total equity				694,266	620,213



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 30 June 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 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 18 October 2023
And signed on its behalf by:
D. Humphreys
Director
18 October 2023

for the year ended 30 June 2023

General information

Its registered number is: 05149788

Its registered office is:

32-33 Foregate Street

Worcester,

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.

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.

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:

Plant and machinery

25% reducing balance

Furniture, fittings and equipment

33% reducing balance

Research and development costs

Expenditure on research and development is written off in the year it is incurred unless it meets the criteria to allow it to be capitalised. Costs of research are always written off in the year in which they are incurred. Where development costs are recognised as an asset, they are amortised over the period expected to benefit from them. Amortisation of the capitalised costs begins once the developed product comes into use, typically at rate of 33.33% 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.

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.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	9	6

4	Tangible fixed assets
			Plant and machinery	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 July 2022	3,912	24,352	28,264
		Additions	887	1,566	2,453



		At 30 June 2023	4,799	25,918	30,717
		Depreciation
		At 1 July 2022	3,119	20,033	23,152
		Charge for the year	420	1,942	2,362



		At 30 June 2023	3,539	21,975	25,514
		Net book values
		At 30 June 2023	1,260	3,943	5,203
		At 30 June 2022	793	4,319	5,112

5	Debtors
			2023	2022
			£	£
		Trade debtors	126,088	85,376





		Other debtors	10,721	5,965

			136,809	91,341

6	Creditors:
		amounts falling due within one year
			2023	2022
			£	£




		Trade creditors	31,763	8,387

		Taxes and social security	80,056	90,936
		Loans from directors	88,935	74,765
		Other creditors	-	71
		Accruals and deferred income	1,375	1,275
			202,129	175,434

Share Capital

100 Ordinary £1 shares

Reserves

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

9	Dividends
			2023	2022
			£	£
		Dividends for the period:
		Dividends paid in the period	176,000	156,000

			176,000	156,000

		Dividends by type:

		Equity dividends	176,000	156,000
			176,000	156,000