Company Registration No. 09070574 (England and Wales)
BEEVER HAIRCARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
PAGES FOR FILING WITH REGISTRAR
BEEVER HAIRCARE LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Statement of changes in equity
1
Notes to the financial statements
4 - 9
BEEVER HAIRCARE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2019
1
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2017
100
-
727
827
Year ended 31 July 2018:
Profit and total comprehensive income for the year
-
-
3,227
3,227
Issue of share capital
7
51,901
-
-
51,901
Balance at 31 July 2018
52,001
-
3,954
55,955
Year ended 31 July 2019:
Loss and total comprehensive income for the year
-
-
(191,217)
(191,217)
Issue of share capital
7
450
29,550
-
30,000
Balance at 31 July 2019
52,451
29,550
(187,263)
(105,262)
BEEVER HAIRCARE LIMITED
BALANCE SHEET
AS AT 31 JULY 2019
31 July 2019
2
2019
2018
Notes
£
£
£
£
Fixed assets
Intangible assets
3
7,031
-
Tangible assets
4
13,700
15,677
20,731
15,677
Current assets
Stocks
20,231
105,895
Debtors
5
2,927
56,380
Cash at bank and in hand
133
720
23,291
162,995
Creditors: amounts falling due within one year
6
(146,680)
(119,745)
Net current (liabilities)/assets
(123,389)
43,250
Total assets less current liabilities
(102,658)
58,927
Provisions for liabilities
(2,604)
(2,972)
Net (liabilities)/assets
(105,262)
55,955
Capital and reserves
Called up share capital
7
52,451
52,001
Share premium account
29,550
-
Profit and loss reserves
(187,263)
3,954
Total equity
(105,262)
55,955
BEEVER HAIRCARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2019
31 July 2019
3

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 July 2019 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 member has 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 29 July 2020
Mr S C Beever
Director
Company Registration No. 09070574
BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
4
1
Accounting policies
Company information

Beever Haircare Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1 Castlefields Industrial Estate, Castlefield Road, Bingley, BD16 2AF.

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. The principal accounting policies adopted are set out below.

1.2
Going concern

A t the time of approving the financial statements , t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods) , the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Patents & licences
Straight line over 4 years
1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
1
Accounting policies
(Continued)
5

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
Over the lease term of 10 years
IT and equipment
Straight line over 7 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss .

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
1
Accounting policies
(Continued)
6
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

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.

BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
1
Accounting policies
(Continued)
7
1.12
Employee benefits

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.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2019
2018
Number
Number
Total
3
5
3
Intangible fixed assets
Other
£
Cost
At 1 August 2018
-
Additions
9,374
At 31 July 2019
9,374
Amortisation and impairment
At 1 August 2018
-
Amortisation charged for the year
2,343
At 31 July 2019
2,343
Carrying amount
At 31 July 2019
7,031
At 31 July 2018
-
BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
8
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2018 and 31 July 2019
12,704
4,950
17,654
Depreciation and impairment
At 1 August 2018
1,270
707
1,977
Depreciation charged in the year
1,270
707
1,977
At 31 July 2019
2,540
1,414
3,954
Carrying amount
At 31 July 2019
10,164
3,536
13,700
At 31 July 2018
11,434
4,243
15,677
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Other debtors
2,927
56,380
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
51,754
32,117
Taxation and social security
5,840
11,904
Other creditors
89,086
75,724
146,680
119,745
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
5,200,100 Ordinary A shares of 1p each
52,001
52,001
45,000 (2018: 0) Ordinary B shares of 1p each
450
-
52,451
52,001
BEEVER HAIRCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2019
7
Called up share capital
2019
2018
£
£
(Continued)
9
Reconciliation of movements during the year:
Ordinary A
Ordinary B
Number
Number
At 1 August 2018
52,001
-
Issue of fully paid shares
-
450
At 31 July 2019
52,001
450

During the year 45,000 Ordinary B shares of £0.01 each were issued at a premium of £0.666 per share to raise further funding.

8
Related party transactions

The following amounts were outstanding at the reporting end date, the amounts were interest free and repayable upon demand:

2019
2018
Amounts due to related parties
£
£
Key management personnel
31,064
17,121
Other related parties
26,153
31,853

Loans to other related parties were made from companies controlled by the director.

 

The following amounts were outstanding at the reporting end date:

2019
2018
Amounts due from related parties
£
£
Other related parties
-
38,017

Loans to other related parties were made from companies controlled by the director.

 

2019-07-31 2018-08-01 false 29 July 2020 CCH Software CCH Accounts Production 2020.200 No description of principal activity Mr S C Beever 09070574 2018-08-01 2019-07-31 09070574 core:ShareCapital 2017-07-31 09070574 core:RetainedEarningsAccumulatedLosses 2017-07-31 09070574 2017-07-31 09070574 core:ShareCapital 2018-07-31 09070574 core:RetainedEarningsAccumulatedLosses 2018-07-31 09070574 2018-07-31 09070574 core:ShareCapital 2019-07-31 09070574 core:SharePremium 2019-07-31 09070574 core:RetainedEarningsAccumulatedLosses 2019-07-31 09070574 2019-07-31 09070574 core:ShareCapitalOrdinaryShares 2019-07-31 09070574 core:ShareCapitalOrdinaryShares 2018-07-31 09070574 core:RetainedEarningsAccumulatedLosses 2017-08-01 2018-07-31 09070574 2017-08-01 2018-07-31 09070574 core:RetainedEarningsAccumulatedLosses 2018-08-01 2019-07-31 09070574 core:ShareCapital 2017-08-01 2018-07-31 09070574 core:ShareCapital 2018-08-01 2019-07-31 09070574 core:SharePremium 2018-08-01 2019-07-31 09070574 core:IntangibleAssetsOtherThanGoodwill 2019-07-31 09070574 core:LandBuildings 2019-07-31 09070574 core:OtherPropertyPlantEquipment 2019-07-31 09070574 core:LandBuildings 2018-07-31 09070574 core:OtherPropertyPlantEquipment 2018-07-31 09070574 core:CurrentFinancialInstruments 2019-07-31 09070574 core:CurrentFinancialInstruments 2018-07-31 09070574 bus:Director1 2018-08-01 2019-07-31 09070574 core:IntangibleAssetsOtherThanGoodwill 2018-08-01 2019-07-31 09070574 core:PatentsTrademarksLicencesConcessionsSimilar 2018-08-01 2019-07-31 09070574 core:LeaseholdImprovements 2018-08-01 2019-07-31 09070574 core:ComputerEquipment 2018-08-01 2019-07-31 09070574 core:LandBuildings 2018-07-31 09070574 core:OtherPropertyPlantEquipment 2018-07-31 09070574 2018-07-31 09070574 core:LandBuildings 2018-08-01 2019-07-31 09070574 core:OtherPropertyPlantEquipment 2018-08-01 2019-07-31 09070574 core:WithinOneYear 2019-07-31 09070574 core:WithinOneYear 2018-07-31 09070574 bus:PrivateLimitedCompanyLtd 2018-08-01 2019-07-31 09070574 bus:SmallCompaniesRegimeForAccounts 2018-08-01 2019-07-31 09070574 bus:FRS102 2018-08-01 2019-07-31 09070574 bus:AuditExemptWithAccountantsReport 2018-08-01 2019-07-31 09070574 bus:FullAccounts 2018-08-01 2019-07-31 xbrli:pure xbrli:shares iso4217:GBP