John Beech Limited Company Accounts
John Beech Limited Company Accounts
COMPANY REGISTRATION NUMBER:
00775062
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Financial Statements |
Year ended 31 March 2017
Contents |
Page |
Statement of financial position |
1 |
Notes to the financial statements |
3 |
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Statement of Financial Position |
2017 |
2016 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Stocks |
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Debtors |
6 |
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Investments |
7 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
9 |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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Statement of Financial Position (continued) |
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
21 December 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
00775062
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Notes to the Financial Statements |
Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dock Road North, Bromborough, Wirral, Merseyside., CH62 4TQ, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Cash flow statement
The directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the accounts on the grounds that the company is small.
Investments
Investments are held at their recorded value.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost consists of direct materials, labour and attributable overheads. Net realisable value is based on estimated selling price, less any further costs of realisation.
Payments received and receivable on account of work done are deducted from the value arrived at on the above basis.
Revenue recognition
Income tax
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery |
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Fixtures and fittings |
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Motor vehicles |
- |
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Equipment |
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33% straight line |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Finance leases and hire purchase contracts
Provisions
Financial instruments
Defined contribution plans
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
50
(2016:
23
).
5.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Equipment |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 1 April 2016 |
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21,635 |
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Additions |
– |
– |
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781 |
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Disposals |
– |
– |
(
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– |
(
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At 31 March 2017 |
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22,416 |
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Depreciation |
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At 1 April 2016 |
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21,635 |
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Charge for the year |
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258 |
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Disposals |
– |
– |
(
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– |
(
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At 31 March 2017 |
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21,893 |
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Carrying amount |
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At 31 March 2017 |
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523 |
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At 31 March 2016 |
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– |
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6.
Debtors
2017 |
2016 |
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£ |
£ |
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Trade debtors |
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Amounts owed by group undertakings |
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Prepayments and accrued income |
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Other debtors |
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7.
Investments
2017 |
2016 |
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£ |
£ |
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Other investments |
62,500 |
62,500 |
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8.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Bank loans and overdrafts |
– |
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Trade creditors |
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Accruals and deferred income |
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Corporation tax |
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– |
Social security and other taxes |
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Obligations under finance leases and hire purchase contracts |
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Director loan accounts |
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Other creditors |
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9.
Creditors:
amounts falling due after more than one year
2017 |
2016 |
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£ |
£ |
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Obligations under finance leases and hire purchase contracts |
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10.
Directors' advances, credits and guarantees
There were no Director's advances or guarantees during the year.
11.
Related party transactions
Included in other debtors is a balance of £130,621 (2016 £131,062) due from Obsidian Environmental Limited.
Mr. C. J. F. Wainwright
is a director and significant shareholder of John Beech Consultants limited. Mr. A. Marley is also a significant in that company. Included in other debtors is a balance of £207 (2016 -£207) due from John Beech Construction Limited. Mr. C. J. F. Wainwright
and Mr. A. Marley are directors and equal shareholders of John Beech Construction Limited. At 31 March 2017 an amount of £1,432,900 (2016 £1,432,900) was due from Marley Wainwright Limited, the parent undertaking. This relates to financial assistance given to enable Marley Wainwright Limited to acquire the entire share capital of the company. The loan is interest free and repayable on demand.
12.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.
13.
Ultimate parent company
The ultimate parent company is Marley Wainwright Limited, a company incorporated in England.
14.
Ultimate controlling party
The ultimate controlling party is Mr. C. J. F. Wainwright, who is a director and controlling shareholder of Marley Wainwright Limited.