Company registration number 08877708 (England and Wales)
A.C. BECK HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
A.C. BECK HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
A.C. BECK HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
104,482
104,482
Current assets
Cash at bank and in hand
2,756
2,853
Creditors: amounts falling due within one year
4
(94,722)
(83,822)
Net current liabilities
(91,966)
(80,969)
Net assets
12,516
23,513
Capital and reserves
Called up share capital
5
6,114
6,114
Capital redemption reserve
586
586
Profit and loss reserves
5,816
16,813
Total equity
12,516
23,513
The notes on pages 2 to 4 form part of these financial statements.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 August 2023 and are signed on its behalf by:
Mr S P Beck
Mr L Beck
Director
Director
Company Registration No. 08877708
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
A.C. Beck Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 5 The Metro Centre, Toutley Road, Wokingham, Berkshire, England, RG41 1QW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
The financial statements contain information about A.C. Beck Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirement to prepare consolidated financial statements.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Taxation
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
3
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
104,482
104,482
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
94,722
83,822
5
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary shares of 1p each
569,500
569,500
5,695
5,695
B Ordinary shares of 1p each
33,500
33,500
335
335
D Ordinary shares of 1p each
8,375
8,375
84
84
611,375
611,375
6,114
6,114
Details of the rights attributable to each of the classes of shares are set out in the Articles of Association but in summary are as follows:
-"A" Ordinary shares - holders are entitled to: a dividend but only after any dividend on the "B" Ordinary shares is paid; one vote per share in general meetings; and 85% on a sale of the company, liquidation or other return of capital.
-"B" Ordinary shares - holders are entitled to: a dividend of £0.48 per share per annum in priority to "A" Ordinary shares; no voting rights other than regarding the winding up or variation of class rights of the shares; and 5% on a sale of the company, liquidation or other return of capital.
-"C" Ordinary shares - on 24 September 2021 these were purchased by the company.
-"D" Ordinary shares - holders are not entitled to a dividend; have no voting rights other than regarding the winding up or variation of class rights of the share; and 5% on a sale of the company, liquidation or other return of capital.
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
6
Events after the reporting date
On the 6 June 2023 the company paid an interim dividend of £150,000.