Beacon Group Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04021843 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

Beacon Group Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I P Larrassey

F Larrassey

SECRETARY:

Mrs T H Larrassey

REGISTERED OFFICE:

Unit 5

Kingside Business Park

Ruston Road

Woolwich

London

SE18 5BX

REGISTERED NUMBER:

04021843 (England and Wales)

ACCOUNTANTS:

Nichols & Co ( Accountancy ) Limited

Chartered Accountants

Unit 7

Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

FIXED ASSETS

Tangible assets

4

54,033

51,036

Investments

5

-

-

54,033

51,036

CURRENT ASSETS

Stocks

10,000

30,000

Debtors

6

713,676

273,099

Cash at bank and in hand

4,152

296,343

727,828

599,442

CREDITORS

Amounts falling due within one year

7

482,174

306,592

NET CURRENT ASSETS

245,654

292,850

TOTAL ASSETS LESS CURRENT LIABILITIES

299,687

343,886

CREDITORS

Amounts falling due after more than one year

8

(117,288

)

(144,899

)

PROVISIONS FOR LIABILITIES

10

(10,186

)

(9,450

)

NET ASSETS

172,213

189,537

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

172,113

189,437

SHAREHOLDERS' FUNDS

172,213

189,537

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 1 February 2018 and were signed on its behalf by:

I P Larrassey - Director

1.	STATUTORY INFORMATION

Beacon Group Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Beacon Group Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under

Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

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.

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.

FIRST TIME ADOPTION OF FRS 102 (SECTION 1A)

There has been no impact on the adoption of FRS 102 (Section 1A) on the reported financial position and

performance of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2016

21,883

6,000

136,550

94,236

258,669

Additions

-

-

24,772

6,048

30,820

Disposals

-

-

(34,627

)

-

(34,627

)

At 30 June 2017

21,883

6,000

126,695

100,284

254,862

DEPRECIATION

At 1 July 2016

19,354

3,371

113,207

71,701

207,633

Charge for year

379

394

9,594

7,718

18,085

Eliminated on disposal

-

-

(24,889

)

-

(24,889

)

At 30 June 2017

19,733

3,765

97,912

79,419

200,829

NET BOOK VALUE

At 30 June 2017

2,150

2,235

28,783

20,865

54,033

At 30 June 2016

2,529

2,629

23,343

22,535

51,036

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 July 2016

69,680

28,180

97,860

Disposals

(34,627

)

-

(34,627

)

At 30 June 2017

35,053

28,180

63,233

DEPRECIATION

At 1 July 2016

50,083

12,311

62,394

Charge for year

2,465

5,237

7,702

Eliminated on disposal

(24,889

)

-

(24,889

)

At 30 June 2017

27,659

17,548

45,207

NET BOOK VALUE

At 30 June 2017

7,394

10,632

18,026

At 30 June 2016

19,597

15,869

35,466

5.	FIXED ASSET INVESTMENTS

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Beacon Mechanical Services Limited

Registered office:

Nature of business: Dormant non trading

%

Class of shares:

holding

Ordinary

100.00

30.6.17

30.6.16

£

£

Aggregate capital and reserves

1

1

Beacon Ideas Limited

Registered office:

Nature of business: Dormant non trading

%

Class of shares:

holding

Ordinary

100.00

30.6.17

30.6.16

£

£

Aggregate capital and reserves

1

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

148,685

151,820

Other debtors

564,991

121,279

713,676

273,099

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans and overdrafts

33,226

25,089

Hire purchase contracts

7,945

19,713

Trade creditors

213,626

196,540

Taxation and social security

109,620

56,955

Other creditors

117,757

8,295

482,174

306,592

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans

117,288

136,953

Hire purchase contracts

-

7,946

117,288

144,899

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

16,934

36,599

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Bank overdraft

8,137

-

Bank loans

142,377

162,042

Hire purchase contracts

7,945

27,659

158,459

189,701

10.	PROVISIONS FOR LIABILITIES

30.6.17

30.6.16

£

£

Deferred tax

10,186

9,450

Deferred

tax

£

Balance at 1 July 2016

9,450

Provided during year

736

Balance at 30 June 2017

10,186

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.17

30.6.16

value:

£

£

100

Ordinary

£1

100

100

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2017 and

30 June 2016:

30.6.17

30.6.16

£

£

I P Larrassey

Balance outstanding at start of year

52,693

52,719

Amounts advanced

343,364

163,294

Amounts repaid

(427,000

)

(163,320

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(30,943

)

52,693

F Larrassey

Balance outstanding at start of year

-

-

Amounts advanced

22,200

-

Amounts repaid

(56,333

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(34,133

)

-

13.	RELATED PARTY DISCLOSURES

Dividends of £156,000 (2016 - £73,600) were declared and paid in the year to I P Larrassey, who is the director

of the company and also a shareholder.

Mr I P Larrassey, a director of the company, personally guarantees the bank overdraft facility and the bank loan.

The assets of the Beacon Group Pension Scheme are held for the benefit of I P Larrassey who is a shareholder

and director of the company and Mrs T Larrassey who is a shareholder of the company.

Dividends of £156,000 (2016 - £73,600) were declared and paid in the year to Mrs T Larrassey, who is a

shareholder and wife of Mr I Larrassey the director of the company.

The company made rental payments to I P Larrassey and Mrs T Larrassey of £40,499 (2016 - £40,499).

Dividends of £56,333 (2016 - nil) were declared and paid in the year to F Larrassey, who is the director of the

company and also a shareholder.

14.	CONTROLLING PARTY

The company is controlled by Mr I P Larrassey and Mrs T Larrassey, who together own 80 % of the issued share

capital of the company.