Company Registration No. 08877708 (England and Wales)
A.C. BECK HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
A.C. BECK HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
A.C. BECK HOLDINGS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2021
31 March 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Investments
3
104,482
104,482
Current assets
Cash at bank and in hand
2,938
3,005
Creditors: amounts falling due within one year
4
(60,597)
(597)
Net current (liabilities)/assets
(57,659)
2,408
Net assets
46,823
106,890
Capital and reserves
Called up share capital
5
6,449
6,700
Capital redemption reserve
251
Profit and loss reserves
40,123
100,190
Total equity
46,823
106,890
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he 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 and signed by the director and authorised for issue on 12 November 2021
Mr S P Beck
Director
Company Registration No. 08877708
A.C. BECK HOLDINGS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2021
- 2 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 April 2019
6,700
448,718
455,418
Year ended 31 March 2020:
Profit and total comprehensive income for the year
-
-
222,552
222,552
Dividends
-
-
(571,080)
(571,080)
Balance at 31 March 2020
6,700
100,190
106,890
Year ended 31 March 2021:
Profit and total comprehensive income for the year
-
-
271,013
271,013
Dividends
-
-
(271,080)
(271,080)
Own shares acquired
-
-
(60,000)
(60,000)
Redemption of shares
5
251
251
Reduction of shares
5
(251)
-
(251)
Balance at 31 March 2021
6,449
251
40,123
46,823
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
- 3 -
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 a
mounts
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.
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
1
Accounting policies
(Continued)
- 4 -
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
1
3
Fixed asset investments
2021
2020
£
£
Shares in group undertakings and participating interests
104,482
104,482
4
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
60,597
597
A.C. BECK HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2021
- 5 -
5
Called up share capital
2021
2020
2021
2020
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
C Ordinary shares of 1p each
33,500
33,500
335
335
D Ordinary shares of 1p each
8,375
33,500
84
335
644,875
670,000
6,449
6,700
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 - 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.
-"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.
6
Parent company
The ultimate controlling party of the company is S P Beck by virtue of his majority shareholding
.