|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2018 |
|
for |
|
Beckett Philatelics Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements for the Year Ended 31 October 2018 |
|
for |
|
Beckett Philatelics Limited |
Beckett Philatelics Limited (Registered number: 02235760) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the Year Ended 31 October 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Beckett Philatelics Limited |
|
Company Information |
for the Year Ended 31 October 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Wyre Forest House |
Finepoint Way |
Kidderminster |
Worcestershire |
DY11 7WF |
Beckett Philatelics Limited (Registered number: 02235760) |
|
Balance Sheet |
31 October 2018 |
|
2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investment property | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks | 6 |
|
|
Debtors | 7 |
|
|
Investments | 8 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
10 |
|
( |
) |
|
PROVISIONS FOR LIABILITIES |
|
( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 11 |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Beckett Philatelics Limited (Registered number: 02235760) |
|
Balance Sheet - continued |
31 October 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
Beckett Philatelics Limited (Registered number: 02235760) |
|
Notes to the Financial Statements |
for the Year Ended 31 October 2018 |
|
1. | STATUTORY INFORMATION |
|
Beckett Philatelics Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover from the wholesale purchase and sale of stamps is recognised when significant risks and rewards of |
ownership of the goods have transferred to the buyer, the amount of turnover 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. This is usually on delivery to |
the customer. |
|
Tangible fixed assets |
|
Property fixtures | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Assets included in property work in progress are transferred to investment property once completed. |
|
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
|
Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes |
all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and |
condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and |
slow-moving stock where appropriate. |
|
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. |
Beckett Philatelics Limited (Registered number: 02235760) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
2. | ACCOUNTING POLICIES - continued |
|
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. |
|
Investments |
Current asset investments are stated at the lower of cost and estimated net realisable value. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Property | and | Motor |
fixtures | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 November 2017 |
and 31 October 2018 |
|
|
|
|
DEPRECIATION |
At 1 November 2017 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 October 2018 |
|
|
|
|
NET BOOK VALUE |
At 31 October 2018 |
|
|
|
|
At 31 October 2017 |
|
|
|
|
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 November 2017 |
and 31 October 2018 |
|
DEPRECIATION |
At 1 November 2017 |
|
Charge for year |
|
At 31 October 2018 |
|
NET BOOK VALUE |
At 31 October 2018 |
|
At 31 October 2017 |
|
Beckett Philatelics Limited (Registered number: 02235760) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2017 |
|
Additions |
|
At 31 October 2018 |
|
NET BOOK VALUE |
At 31 October 2018 |
|
At 31 October 2017 |
|
|
6. | STOCKS |
2018 | 2017 |
£ | £ |
Stocks |
|
|
|
7. | DEBTORS |
2018 | 2017 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
|
|
VAT |
|
|
Prepayments |
|
|
|
|
|
Amounts falling due after more than one year: |
Other debtors |
|
|
|
Aggregate amounts |
|
|
|
8. | CURRENT ASSET INVESTMENTS |
2018 | 2017 |
£ | £ |
Unlisted investments | 847 | 847 |
|
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
VAT | - | 2,682 |
Wages control account | 565 | 1,630 |
Directors' loan accounts | 63,836 | 63,956 |
Accrued expenses |
|
|
|
|
|
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts |
|
|
Beckett Philatelics Limited (Registered number: 02235760) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 October 2018 |
|
11. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
12. | ULTIMATE CONTROLLING PARTY |
|
The directors are considered to be the ultimate controlling party by virtue of their ability to act in concert in |
respect of the operational and financial policies of the company. |