| BEEGOOD ENTERPRISES LIMITED |
| Registered number: |
08416831 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 31 March 2015. |
|
| Principal activities |
| The company's principal activity during the year continued to be the development and preparation of cosmetic and other formulations from bee products. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Mr S R Cavill |
|
Mr G A Jennison |
|
Ms R L Nichols |
|
Ms T M Sheppard (appointed 1/4/14) |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 14 December 2015 and signed on its behalf. |
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|
| G A JENNISON |
| Director |
|
| Chartered Accountants' independent assurance report on the unaudited accounts of BEEGOOD ENTERPRISES LIMITED |
|
| To the Board of Directors of BEEGOOD ENTERPRISES LIMITED ('the Company') |
|
| We have performed certain procedures in respect of the Company’s unaudited accounts for the year ended 31 March 2015 (which comprise the Profit and Loss Account, the Balance Sheet and the related notes), made enquiries of the Company’s directors and assessed accounting policies adopted by the directors, in order to gather sufficient evidence for our conclusion in this report. |
| This report is made solely to the Company’s directors, as a body, in accordance with the terms of our engagement letter dated 11 March 2013. It has been released to the directors on the basis that this report shall not be copied, referred to or disclosed, in whole (save for the directors’ own internal purposes or as may be required by law or by a competent regulator) or in part, without our prior written consent. Our work has been undertaken so that we might state to the directors those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company’s directors as a body for our work, for this report or the conclusions we have formed. |
| Respective responsibilities |
| You have confirmed that you have met your duty as set out in the directors’ statement. You consider that the Company is exempt from the statutory requirement for an audit for the year. Our responsibility is to form and express an independent conclusion, based on the work carried out, to you on the accounts. |
| Scope |
| We conducted our engagement in accordance with the Institute of Chartered Accountants in England & Wales Interim Technical Release AAF 03/06. Our work was based primarily upon enquiry, analytical procedures and assessing accounting policies in accordance with the Financial Reporting Standard for Smaller Entities. If we considered it to be necessary, we also performed limited examination of evidence relevant to certain balances and disclosures in the accounts where we became aware of matters that might indicate a risk of material misstatement in the accounts. |
| The terms of our engagement exclude any requirement to carry out a comprehensive assessment of the risks of material misstatement, a consideration of fraud, laws, regulations and internal controls, and we have not done so. We are not required to, and we do not, express an audit opinion on these accounts. |
| Conclusion |
| Based on our work, nothing has come to our attention to refute the directors’ confirmation that in accordance with the Companies Act 2006 the accounts give a true and fair view of the state of the Company’s affairs as at 31 March 2015 and of its loss for the year then ended and have been properly prepared in accordance with the Financial Reporting Standard for Smaller Entities. |
|
| Michael George & Co Ltd |
| Chartered Accountants |
| Dawes Court House |
| Dawes Court, High Street |
| ESHER |
| Surrey |
| KT10 9QD |
|
| 14 December 2015 |
|
| BEEGOOD ENTERPRISES LIMITED |
| Balance Sheet |
| as at 31 March 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
3 |
|
|
750 |
|
|
1,000 |
| Tangible assets |
4 |
|
|
100 |
|
|
100 |
|
|
|
|
850 |
|
|
1,100 |
|
| Current assets |
| Stocks |
|
|
81,481 |
|
|
58,013 |
| Debtors |
5 |
|
33,207 |
|
|
1,035 |
| Cash at bank and in hand |
|
|
19,075 |
|
|
14,822 |
|
|
|
133,763 |
|
|
73,870 |
|
| Creditors: amounts falling due within one year |
6 |
|
(24,844) |
|
|
(20,350) |
|
| Net current assets |
|
|
|
108,919 |
|
|
53,520 |
|
| Net assets |
|
|
|
109,769 |
|
|
54,620 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
7 |
|
|
1,225 |
|
|
820 |
| Share premium |
8 |
|
|
311,756 |
|
|
104,591 |
| Profit and loss account |
9 |
|
|
(203,212) |
|
|
(50,791) |
|
| Shareholders' funds |
|
|
|
109,769 |
|
|
54,620 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| G A JENNISON |
| Director |
| Approved by the board on 14 December 2015 |
|
| BEEGOOD ENTERPRISES LIMITED |
| Notes to the Accounts |
| for the year ended 31 March 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value of sales invoiced net of value added tax, rebates and discounts. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Fixtures, fittings and equipment |
50% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
| 2 |
Operating profit |
2015 |
|
2014 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
- |
|
217 |
|
Amortisation of trademark |
250 |
|
250 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Trademark: |
|
|
Cost |
|
At 1 April 2014 |
1,250 |
|
At 31 March 2015 |
1,250 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2014 |
250 |
|
Provided during the year |
250 |
|
At 31 March 2015 |
500 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
750 |
|
At 31 March 2014 |
1,000 |
|
|
|
|
|
|
|
|
|
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The cost of the trademark is being written off in equal annual instalments over its estimated economic life of 5 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Fixtures, fittings and equipment |
| £ |
|
Cost |
|
At 1 April 2014 |
317 |
|
At 31 March 2015 |
317 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2014 |
217 |
|
At 31 March 2015 |
217 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2015 |
100 |
|
At 31 March 2014 |
100 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
|
Trade debtors |
8,383 |
|
1,035 |
|
Other debtors |
24,824 |
|
- |
|
|
|
|
|
|
33,207 |
|
1,035 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2015 |
|
2014 |
| £ |
£ |
|
|
Trade creditors |
22,344 |
|
18,350 |
|
Accruals |
2,500 |
|
2,000 |
|
|
|
|
|
|
24,844 |
|
20,350 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£0.01 each |
|
122,535 |
|
1,225 |
|
820 |
|
|
|
|
|
|
|
|
|
| Nominal |
Number |
Amount |
| value |
£ |
|
Shares issued during the period: |
|
Ordinary shares |
£0.01 each |
|
40,502 |
|
405 |
|
|
|
|
|
|
|
|
| 8 |
Share premium |
2015 |
| £ |
|
|
At 1 April 2014 |
104,591 |
|
Shares issued |
207,165 |
|
|
At 31 March 2015 |
311,756 |
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2015 |
| £ |
|
|
At 1 April 2014 |
(50,791) |
|
Loss for the year |
(152,421) |
|
|
At 31 March 2015 |
(203,212) |
|
|
|
|
|
|
|
|
| 10 |
Ultimate controlling party |
|
|
Throughout this and the previous period the company has been under the control of its directors who are also shareholders. |
