Company Registration No. 09822578 (England and Wales)
Bee Motion Accounting Limited
Unaudited accounts
for the year ended 31 December 2021
Bee Motion Accounting Limited
Unaudited accounts
Contents
Bee Motion Accounting Limited
Company Information
for the year ended 31 December 2021
Director
Stefan Alexander Barrett
Secretary
George Jason Moss
Company Number
09822578 (England and Wales)
Registered Office
136 Hall Street
Offerton
Stockport
SK1 4HE
Accountants
Bee Motion Accounting Limited
136 Hall Street
Offerton
Stockport
SK1 4HE
Bee Motion Accounting Limited
Statement of financial position
as at
31 December 2021
Tangible assets
64,009
253,389
Investment property
-
100,000
Cash at bank and in hand
21,899
22,898
Creditors: amounts falling due within one year
(55,075)
(103,618)
Net current assets/(liabilities)
273,832
(47,620)
Total assets less current liabilities
337,841
305,769
Creditors: amounts falling due after more than one year
(21,212)
(27,454)
Provisions for liabilities
Deferred tax
(12,162)
(38,097)
Net assets
304,467
240,218
Called up share capital
100
100
Revaluation reserve
-
59,989
Profit and loss account
304,367
180,129
Shareholders' funds
304,467
240,218
For the year ending 31 December 2021 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.
The financial statements were approved by the Board and authorised for issue on 30 September 2022 and were signed on its behalf by
Stefan Alexander Barrett
Director
Company Registration No. 09822578
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2021
Bee Motion Accounting Limited is a private company, limited by shares, registered in England and Wales, registration number 09822578. The registered office is 136 Hall Street, Offerton, Stockport, 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 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 £.
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.
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or services.
a) Sale of goods
Revenue from the sale of goods is recognised when the entity has delivered the products to the customer, the customer has accepted the products and collectability of the related receivables is reasonably assured.
b) Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Tangible fixed assets, revaluation 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.
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:
Motor vehicles
20% Reducing Balance
Fixtures & fittings
15% Straight line
Computer equipment
15% Straight line
Where the substance of a contract is that the contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of our contractual obligations. The amount of revenue included reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2021
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.
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.
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.
The company offers a range of benefits to employees, including bonus arrangements, paid holiday arrangements and defined contribution pension plans.
Short-term employee benefits are those expected to be settled wholly before twelve months after the end of the annual reporting period during which employee services are rendered, but do not include termination benefits.
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense when they are due. Amounts not paid are shown within 'taxes and social security' on the balance sheet. The assets of the plan are held separately from the company in independently administered funds.
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 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.
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2021
195,000
40,746
9,060
20,359
265,165
Additions
-
-
13,254
4,913
18,167
Disposals
(195,000)
-
-
-
(195,000)
At 31 December 2021
-
40,746
22,314
25,272
88,332
At 1 January 2021
-
679
4,257
6,840
11,776
Charge for the year
-
6,010
3,172
3,365
12,547
At 31 December 2021
-
6,689
7,429
10,205
24,323
At 31 December 2021
-
34,057
14,885
15,067
64,009
At 31 December 2020
195,000
40,067
4,803
13,519
253,389
5
Investment property
2021
Fair value at 1 January 2021
100,000
Work in progress
2,533
4,410
7
Debtors: amounts falling due within one year
2021
2020
Trade debtors
26,707
25,290
Accrued income and prepayments
1,269
400
Other debtors
3,000
3,000
Debtors: amounts falling due after more than one year
Amounts due from group undertakings etc.
273,499
-
Bee Motion Accounting Limited
Notes to the Accounts
for the year ended 31 December 2021
8
Creditors: amounts falling due within one year
2021
2020
Obligations under finance leases and hire purchase contracts
5,755
5,486
Amounts owed to group undertakings and other participating interests
-
49,750
Taxes and social security
28,216
11,908
Other creditors
5,703
23,935
Loans from directors
6,761
3,708
Deferred income
7,850
8,710
9
Creditors: amounts falling due after more than one year
2021
2020
Obligations under finance leases and hire purchase contracts
21,212
27,454
10
Deferred taxation
2021
2020
Accelerated capital allowances
12,162
38,097
Provision at start of year
38,097
13,702
(Credited)/charged to the profit and loss account
(25,935)
24,395
Provision at end of year
12,162
38,097
11
Share capital
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
12
Transactions with related parties
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
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
14
Average number of employees
During the year the average number of employees was 6 (2020: 4).