Company Registration No. 09822578 (England and Wales)
Bee Motion Accounting Limited
Unaudited accounts
for the year ended 31 December 2019
Bee Motion Accounting Limited
Unaudited accounts
Contents
Bee Motion Accounting Limited
Company Information
for the year ended 31 December 2019
Director
Stefan Alexander Barrett
Secretary
George Jason Moss
Company Number
09822578 (England and Wales)
Registered Office
136 Hall Street
Offerton
Stockport
Cheshire
SK1 4HE
Accountants
Bee Motion Accounting Ltd
136 Hall Street
Offerton
Stockport
Cheshire
SK1 4HE
Bee Motion Accounting Limited
Statement of financial position
as at
31 December 2019
Tangible assets
210,660
1,929
Cash at bank and in hand
25,474
57,116
Creditors: amounts falling due within one year
(43,100)
(42,709)
Net current (liabilities)/assets
(976)
22,318
Total assets less current liabilities
209,684
24,247
Creditors: amounts falling due after more than one year
(89,197)
-
Provisions for liabilities
Deferred tax
(13,702)
(367)
Net assets
106,785
23,880
Called up share capital
100
100
Revaluation reserve
22,672
-
Profit and loss account
84,013
23,780
Shareholders' funds
106,785
23,880
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 1 January 2020.
Stefan Alexander Barrett
Director
Company Registration No. 09822578
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2019
Bee Motion Accounting Limited is a private company, limited by shares, registered in England and Wales, registration number 09822578. The registered office and principal place of business is 136 Hall Street, Offerton, Stockport, Cheshire, SK1 4HE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 £.
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Land & buildings
Annual revaluation
Fixtures & fittings
25% Straight line
Computer equipment
25% Straight line
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2019
The tax expense represents the sum of the tax currently payable and deferred.
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 arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Finance leases and hire purchase contracts
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of completion.
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2019
Monetary 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 rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The company has considerable financial resources together with contracts with a number of clients. The director believes that the company is well placed to manage its business risks successfully.
After making enquiries, the director has reasonable expectations that the company has adequate resources to continue in operational existence for a period of at least twelve months and for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report.
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At valuation
At cost
At cost
At 1 January 2019
-
1,336
4,692
6,028
Additions
177,328
7,283
5,698
190,309
Revaluations
22,672
-
-
22,672
At 31 December 2019
200,000
8,619
10,390
219,009
At 1 January 2019
-
1,106
2,993
4,099
Charge for the year
-
1,986
2,264
4,250
At 31 December 2019
-
3,092
5,257
8,349
At 31 December 2019
200,000
5,527
5,133
210,660
At 31 December 2018
-
230
1,699
1,929
Trade debtors
16,516
7,661
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2019
7
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
2,834
-
Taxes and social security
13,733
7,210
Other creditors
15,785
8,816
Loans from directors
10,581
16,673
8
Creditors: amounts falling due after more than one year
2019
2018
9
Deferred taxation
2019
2018
Accelerated capital allowances
13,702
367
Provision at start of year
367
-
Charged to the profit and loss account
13,335
367
Provision at end of year
13,702
367
10
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
The company's parent undertaking and ultimate controlling party is Bee Motion Limited, a limited company registered in England and Wales.
Bee Motion Limited (12319153) - 136 Hall Street, Offerton, Stockport, SK1 4HE
12
Average number of employees
During the year the average number of employees was 3 (2018: 2).