REGISTERED NUMBER: |
Beacon Rock Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
REGISTERED NUMBER: |
Beacon Rock Limited |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
Beacon Rock Limited (Registered number: 10660746) |
Contents of the Financial Statements |
for the year ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Beacon Rock Limited |
Company Information |
for the year ended 31 March 2023 |
Director: |
Registered office: |
Registered number: |
Beacon Rock Limited (Registered number: 10660746) |
Balance Sheet |
31 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 | 1,161,758 |
Investments | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 8 |
Retained earnings | 9 |
Shareholders' funds |
The director acknowledges his 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. |
Beacon Rock Limited (Registered number: 10660746) |
Balance Sheet - continued |
31 March 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Beacon Rock Limited (Registered number: 10660746) |
Notes to the Financial Statements |
for the year ended 31 March 2023 |
1. | Statutory information |
Beacon Rock Limited ("The Company") is a private company limited by shares, incorporated and domiciled in England and Wales under the Companies Act 2006. The address of the registered office is given in the Company information page and the nature of the Company's operations and its principle activities are set out in the Directors Report. |
2. | Accounting policies |
Basis of preparing the financial statements |
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard 102, the financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland and the Companies Act 2006 |
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. it also requires management to exercise judgement in applying the Company's accounting policies. |
Going Concern |
The financial statements have been prepared on a going concern basis. |
The Company is supported by its director, who is also the main creditor and a shareholder. The director has confirmed that he will continue to support the Company for a period of at least 12 months from the date of approval of these financial statements. |
After making enquiries and taking into account all available information, the director has formed the judgement that the Company has adequate resources to continue in operational existence for the foreseeable future, a period of at least 12 month from the date of approving these financial statements. |
On this basis, the director considers that it is appropriate to prepare the financial statements on the going concern basis. |
The following principal accounting policies have been applied: |
Turnover |
Turnover represents amounts receivable for services provided in the year and is stated net of VAT. |
Beacon Rock Limited (Registered number: 10660746) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
2. | Accounting policies - continued |
Tangible fixed assets |
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. |
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using straight line method. |
The estimated useful lives range are as follows: |
Fixtures and fitting - Over the term of the lease |
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. |
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements, as either financial assets, financial liabilities or equity investments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. |
The Company's cash at bank and in hand, other debtors and its trade and other creditors are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method |
Foreign currencies |
Foreign currency transactions are translated at the rates when they occur. Foreign currency monetary assets and liabilities are translated at teh rates ruling at the balance sheet dates. Any differences are taken to the Statement if Comprehensive Income. |
Pension costs |
Contributions to the Company's defined contribution pension scheme are charged to the Statement of Comprehensive Income in the period in which they become payable. The assets of the scheme are held separately from those of the Company in an independently administered fund. |
3. | Employees and directors |
The average number of employees during the year was |
Beacon Rock Limited (Registered number: 10660746) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
4. | Tangible fixed assets |
Fixtures |
Improvements | and | Computer |
to property | fittings | equipment | Totals |
£ | £ | £ | £ |
Cost |
At 1 April 2022 |
Additions |
At 31 March 2023 |
Depreciation |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
Net book value |
At 31 March 2023 |
At 31 March 2022 | ( |
) | ( |
) |
5. | Fixed asset investments |
Investments (neither listed nor unlisted) were as follows: |
2023 | 2022 |
£ | £ |
No description | 1,594,415 | - |
6. | Debtors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
7. | Creditors: amounts falling due within one year |
2023 | 2022 |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Directors' loan accounts | - | 700,000 |
Beacon Rock Limited (Registered number: 10660746) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2023 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
9. | Reserves |
Retained |
earnings |
£ |
At 1 April 2022 |
Profit for the year |
At 31 March 2023 |