UNITED STATES SECURITIES AND EXCHANGE COMMISSION

FORM 10-QSB

(Mark One) 

X QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT  OF 1934 For the quarterly period ended June 30, 2004

TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT

For the transition period from to   Commission file number 333-103621

BEESTON ENTERPRISES LTD.

| NEVADA
88-04360717
(State or other jurisdiction of incorporation or    organization)
(IRS Employer Identification No.)
 

#200 - 1687 WestBroadway

Vancouver, BritishColumbia

Canada, V6J 1X2

(Address of principalexecutive offices)

 

(604) 738-1143

(Issuer's telephonenumber) 

(Former name, former address and former fiscal year, ifchanged since last report)

Check whether the issuer (1) filed all reports required to befiled by Section 13 or 15(d) of the Exchange Act during the past 12 months (orfor such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes X No  
**APPLICABLE ONLY TO CORPORATE ISSUERS**
As of June 30, 2004, the Company had 5,075,000 issued andoutstanding shares of its common stock.

Transitional Small Business Disclosure Format (Check one):Yes []  No [X]

 
**PART I - FINANCIAL INFORMATION****Item 1. Financial Statements. 

 

 

 

 

 

BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

CONDENSED FINANCIALSTATEMENTS

JUNE 30, 2004 AND 2003

 

 

 

 

 

 

 

 

 

BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

INDEX TO CONDENSEDFINANCIAL STATEMENTS

(UNAUDITED)

 

 **
Condensed Balance Sheet as of June 30, 2004 

 

Condensed Statements of Operationsfor the Six and Three Months Ended

    June 30, 2004 and2003 with Cumulative Totals Since Inception 

 

Condensed Statements of Cash Flowsfor the Six Months 

    Ended June 30,2004 and 2003 with Cumulative Totals Since Inception 

 

Notes to Condensed FinancialStatements 
** 

BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

CONDENSED BALANCE SHEET

JUNE 30, 2004(UNAUDITED)****ASSETS**Current Assets           Cash and cash equivalents $ 1,222            Note receivable      22,044         Deposits and other current assets1,274                  Total Current Assets  24,540     Equipment, net  2,510         **TOTAL ASSETS** $ 27,050 **LIABILITIES AND STOCKHOLDERS' (DEFICIT)****LIABILITIES**   Current Liabilities           Accounts payable and accrued expenses $ 41      Loan    payable - officer  43,288                  Total Current Liabilities  43,329     **             Total Liabilities**  43,329     **STOCKHOLDERS' (DEFICIT)**           Common stock, par value $.001, 100,000,000 shares authorized and             5,075,000 shares issued and outstanding  5,075         Additional paid-in capital  30,375         Deficit accumulated during the development stage  (51,729)    **             Total Stockholders' (Deficit)**  (16,279)    **TOTAL LIABILITIES AND    STOCKHOLDERS' (DEFICIT)** $ 27,050 * 

 

 

 

 *
The accompanying notes are an integral part of the condensedfinancial statements.

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

CONDENSED STATEMENTS OF OPERATIONS

FOR THE SIX AND THREEMONTHS ENDED JUNE 30, 2004 AND 2003 (UNAUDITED)

(WITH CUMULATIVE TOTALS SINCE INCEPTION)**                                   **SIX MONTHS ENDED **THREE MONTHS ENDED **Cumulative Totals  **JUNE 30, **JUNE 30,  **July 12, 1999  **2004 **2003 **2004 **2003 **to June 30, 2004                      **INCOME**$             -  $              -  $           -  $               -  $                 -            **OPERATING    EXPENSES**          Administrative expenses11,806  16,897  5,324  6,334  53,559  Depreciation381  366  191  183  1,296  **Total Operating Expenses**12,187  17,263  5,515  6,517  54,855            **OTHER INCOME**                     Interest, net1,073  1,000  546  500  
3,126             **Total other income**1,073  1,000        546  500  
3,126            **NET LOSS    APPLICABLE TO COMMON SHARES**
$      (11,114) $     (16,263) $      (4,969) $               (6,017) $                         (51,729)           **NET LOSS PER    BASIC AND DILUTED SHARES**$      (0.0022) $     (0.0032) $    (0.0010) $        (0.0012)             **WEIGHTED    AVERAGE NUMBER OF COMMON**         **        SHARES OUTSTANDING**
5,075,000 
5,075,000 
5,075,000 
5,075,000  
 

 

The accompanying notes are an integral part of the condensedfinancial statements.

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHSENDED JUNE 30, 2004 AND 2003

(WITH CUMULATIVETOTALS SINCE INCEPTION)

 **     **Cumulative Totals     **July 12, 1999  **2004 **2003**to June 30, 2004      **CASH FLOWS FROM OPERATING    ACTIVITIES**             Net loss $        (11,114) $         (16,263)$                           (51,729)        Adjustments to reconcile net loss to net cash               (used in) operating activities                   Depreciation 381  366 1,296       **Changes in assets and    liabilities**             (Increase) decrease in deposits and other current assets (232) 1,280 (1,274)        Increase in accounts payable and               accrued expenses 41  314 41         Total adjustments 190  1,960 63       **             Net cash (used in) operating activities** (10,924) (14,303)(51,666)      **CASH FLOWS FROM INVESTING    ACTIVITIES**             Acquisition of equipment 
-  (436)(3,806)**    **(Increase) in notes receivable (789) 
- (22,044)      **             Net cash (used in) investing activities** (789) (436)(25,850)      **CASH FLOWS FROM FINANCING    ACTIVITIES**          Sale    of common stock 
-  
- 35,450         Increase in loans payable 12,451  
- 43,288       **             Net cash provided by financing activities** 12,451  
- 78,738       **NET INCREASE (DECREASE) IN**     **        CASH AND CASH EQUIVALENTS** 738  (14,739)1,222       **CASH AND CASH EQUIVALENTS    -**     **        BEGINNING OF PERIOD** 484        18,899 
-       **CASH AND CASH EQUIVALENTS    - END OF PERIOD** $                   1,222  $                  4,160 $                                 1,222 
 

 

 

The accompanying notes are an integral part of the condensedfinancial statements.

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSED FINANCIALSTATEMENTS

JUNE 30, 2004 AND 2003(UNAUDITED)****NOTE 1-     ORGANIZATION AND BASIS OF PRESENTATION
The condensed unaudited interim financial statements included herein have    been prepared, without audit, pursuant to the rules and regulations of the    Securities and Exchange Commission ("SEC"). The condensed consolidated    financial statements and notes are presented as permitted on Form 10-QSB and    do not contain information included in the Company's annual statements and    notes. Certain information and footnote disclosures normally included in    financial statements prepared in accordance with accounting principles    generally accepted in the United States of America have been condensed or    omitted pursuant to such rules and regulations, although the Company    believes that the disclosures are adequate to make the information presented    not misleading. It is suggested that these condensed financial statements be    read in conjunction with the December 31, 2003 audited financial statements    and the accompanying notes thereto. While management believes the procedures    followed in preparing these condensed financial statements are reasonable,    the accuracy of the amounts are in some respects dependent upon the facts    that will exist, and procedures that will be accomplished by the Company    later in the year.

These condensed unaudited financial statements reflect all adjustments,    including normal recurring adjustments which, in the opinion of management,    are necessary to present fairly the operations and cash flows for the    periods presented.

The Company was incorporated on July 12, 1999 under the    laws of the State of Nevada. The business purpose of the Company is to    provide medical diagnostic imaging services to individuals in British    Columbia and Alberta, Canada.

The Company's services will be made available to the    Provincial Medical Services Plans, insurers of automobile and workplace    accident victims, individuals covered by private insurance plans, and    individuals prepared to pay for their own medical services. Beeston plans to    begin its business with a private clinic providing medical diagnostic    imaging services that are to be selected from one of the more specialized    medical diagnostic imaging techniques of computer tomography or magnetic    resonance imaging, which Beeston will offer in a location where demand and    usage warrant. 

 

 

 

 

 
** 

BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 2-     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**Development Stage Company

The Company is considered to be in the development stage as defined in    Statement of Financial Accounting Standards (SFAS) No. 7, "*Accounting and    Reporting by Development Stage Enterprises.*" The Company is devoting    substantially all of its efforts to developing the marketing of the real    estate properties.
**Use of Estimates**
The preparation of condensed financial statements in conformity with    accounting principles generally accepted in the United States of America    requires management to make estimates and assumptions that affect the    amounts reported in the condensed consolidated financial statements and    accompanying notes. Actual results could differ from those estimates.
**Cash and Cash Equivalents**
Cash and cash equivalents consists principally of currency on hand,    demand deposits at commercial banks, and liquid investment funds having a    maturity of three months or less at the time of purchase.
**Start-up Costs**
In accordance with the American Institute of Certified Public Accountants    Statement of Position 98-5, "*Reporting on the Costs of Start-up    Activities*", the Company expenses all costs incurred in connection with    the start-up and organization of the Company.
**Common Stock Issued For Other Than Cash**
Services purchased and other transactions settled in the Company's common    stock are recorded at the estimated fair value of the stock issued if that    value is more readily determinable than the fair value of the consideration    received.
**Property and Equipment**
The cost of office computer equipment is capitalized and depreciated over    its useful life using the straight-line method of depreciation. For all    equipment presently owned, the useful life being utilized is 60 months.    Repairs that substantially extend the life of the assets are capitalized,    and those repairs that do not, are charged to operations. Depreciation    expense for the six months ended June 30, 2004 and 2003 was $381 and $366,    respectively.

 

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 2-     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
**(CONTINUED)****Net (Loss) Per Share of Common Stock

The following table sets forth the computation of basic and diluted    earnings per share:
     
SIX MONTHS ENDED     
JUNE 30     
2004 
2003                Net loss   $              (11,114) $              (16,263)        Weighted        average common shares    outstanding        (Basic)  5,075,000  5,075,000          Options   -  -  Warrants   -  -         Weighted        average common shares    outstanding        (Diluted)  5,075,000  5,075,000 
 

All dilutive securities were not included in the calculation of dilutive    earnings per share because the effect would be anti-dilutive when the    Company has incurred a loss from operations.
**Stock-Based Compensation**
The Company has adopted the disclosure provisions of Statement of    Financial Accounting Standards No. 123, "*Accounting for Stock-Based    Compensation*" ("SFAS No. 123"). SFAS No. 123 permits the Company to    continue accounting for stock-based compensation as set forth in Accounting    Principles Board Opinion No. 25, "*Accounting for Stock Issued to    Employees*" ("APB Opinion No. 25"), provided the Company discloses the    pro forma effect on net income and earnings per share of adopting the full    provisions of SFAS No. 123. Accordingly, the Company continues to account    for stock-based compensation under APB Opinion No. 25 and has provided the    required pro forma disclosures.
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 2-     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
**                   (CONTINUED)****Recent Accounting Pronouncements**
In June 2001, the Financial Accounting Standards Board ("FASB") issued    Statement of Financial Accounting Standards No. 141, "*Business    Combinations*," which eliminated the pooling of interest method of    accounting for all business combinations initiated after June 30, 2001 and    addresses the initial recognition and measurement of goodwill and other    intangible assets acquired in a business combination. The Company adopted    this accounting standard for business combinations initiated after June 30,    2001.

The Company adopted SFAS 142, "*Goodwill and Other Intangible Assets*,"    effective July 1, 2001. SFAS 142 addresses the financial and accounting and    reporting standards for the acquisition of intangible assets outside of a    business combination and for goodwill (of which the Company has not    recognized such intangible asset) and other intangible assets subsequent to    their acquisition. This accounting standard requires that goodwill be    separately disclosed from other intangible assets in the statement of    financial position, and no longer be amortized but tested for impairment on    a periodic basis. The provisions of this accounting standard also require    the completion of a transitional impairment test within six months of    adoption, with any impairments identified treated as a cumulative effect of    a change in accounting principle.

In August 2002, the FASB issued SFAS No. 144, "*Accounting for the    Impairment or Disposal of Long-Lived Assets*," which supersedes SFAS No.    121 and provides a single accounting model for long-lived assets to be    disposed of. The new rules significantly change what would have to be met to    classify an asset as held for sale. In addition, more dispositions will    qualify for discontinued operations treatment in the income statement as the    criteria for discontinued operation presentation is changed to a component    of the business rather than a segment of the business. The Company is    required to apply SFAS No. 144 as of October 1, 2003.

In April 2002, the FASB issued SFAS No. 145, "*Rescission of FASB    Statements No. 4, 44 and 64, Amendment of FASB Statement No. 13, and    Technical Corrections*". This statement rescinds SFAS No. 4, Reporting    Gains and Losses from Extinguishment of Debt, and an amendment of that    statement, SFAS No. 44, Accounting for Intangible Assets of Motor Carriers,    and SFAS No. 64, Extinguishments of Debt Made to Satisfy Sinking-Fund    Requirements. This statement amends SFAS No. 13, Accounting for Leases, to    eliminate inconsistencies between the required accounting for    sales-leaseback transactions and the required accounting for certain lease    modifications that have economic effects that are similar to sales-leaseback    transactions. 

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 2-     SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
**                   (CONTINUED)****Recent Accounting Pronouncements (Continued)

Also, this statement amends other existing authoritative pronouncements    to make various technical corrections, clarify meanings, or describe their    applicability under changed conditions. Provisions of SFAS No. 145 related    to the rescissions of SFAS No. 4 were effective for the Company on November    1, 2002 and provisions affecting SFAS No. 13 were effective for transactions    occurring after May 15, 2002. The adoption of SFAS No. 145 did not have a    significant impact on the Company's results of operations or financial    position.

In June 2002, the FASB issued SFAS No. 146, "*Accounting for Costs    Associated with Exit or Disposal Activities*". The statement addresses    financial accounting and reporting for costs associated with exit or    disposal activities and requires that a liability for a cost associated with    an exit or disposal activity be recognized at fair value when the liability    is incurred, rather than at the date of an entity's commitment to an exit    plan. The provisions of SFAS No. 146 are effective for exit or disposal    activities that are initiated after December 31, 2002, with early    application encouraged. The adoption of SFAS No. 146 did not have a    significant impact on the Company's results of operations or financial    position.

In December 2002, the FASB issued Statement No. 148, "*Accounting for    Stock-Based Compensation-Transition and Disclosure, an amendment of FASB    Statement No. 123*"("SFAS 148"). SFAS 148 amends FASB Statement No. 123,    "*Accounting for Stock-Based Compensation*," to provide alternative    methods of transition for an entity that voluntarily changes to the fair    value based method of accounting for stock-based employee compensation. It    also amends the disclosure provisions of that Statement to require prominent    disclosure about the effects on reported net income of an entity's    accounting policy decisions with respect to stock-based employee    compensation. Finally, this Statement amends Accounting Principles Board    ("APB") Opinion No. 28, "*Interim Financial Reporting*", to require    disclosure about those effects in interim financial information. SFAS 148 is    effective for financial statements for fiscal years ending after December    15, 2002. The Company will continue to account for stock-based employee    compensation using the intrinsic value method of APB Opinion No. 25, "*Accounting    for Stock Issued to Employees*," but has adopted the enhanced disclosure    requirements of SFAS 148.

 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 3-**    PROVISION FOR INCOME TAXES**
The Company accounts for income taxes using the liability method. 

At June 30, 2004 and 2003 deferred tax assets consist of the following:
    
2004 
2003       Net operating        loss carryforwards 15,519         12,185               Less:        valuation allowance (15,519) (12,185)       Net deferred        tax assets -  - 
Net operating losses totaling approximately $52,000 are currently    available and begin to expire in 2021. 

A valuation allowance has been provided for the entire deferred tax asset    amount until such time that the Company demonstrates the ability to produce    taxable income.
**NOTE 4 -**    NOTES RECEIVABLE**
Two investments of $10,000 each were made in December 2002. Each    investment was supported with a note bearing interest of 10% per annum. One    note matured June 30, 2003 and the other note matured September 30, 2003.    Upon maturation, the Board of Directors decided to re-invest the principal    and accrued interest. The first note was rolled over on July 1, 2003 with    accrued interest of $501 and given a new maturity date of March 31, 2004. On    April 1, 2004, this note was again rolled over with additional accrued    interest of $789 and given a maturity date of June 30, 2004. The second note    was rolled over on October 1, 2003 with accrued interest of $753, maturing    on June 30, 2004.

On July 1, 2004 the Company rolled over both notes and the accrued    interest associated with each note to a new maturity date of September 30,    2004. The Company's management is satisfied that these note holders will    have the ability to submit payment upon maturity. 
**BEESTON ENTERPRISES,LTD.

(A DEVELOPMENT STAGECOMPANY)

NOTES TO CONDENSEDFINANCIAL STATEMENTS (CONTINUED)

JUNE 30, 2004 AND 2003(UNAUDITED)

NOTE 5 -**    STOCKHOLDERS' DEFICIT****                    Common Stock
As of June 30, 2004 and 2003, the Company has 100,000,000    shares of common stock authorized and 5,075,000 issued and outstanding.
****
The following details the stock transactions for the    Company:

On September 9, 1999 the Company sold 1,700,000 shares of    its common stock at $.001 per share for $1,700. The proceeds were used for    working capital.

On December 30, 2002, the Company issued 3,375,000 shares    of its common stock at $.001 per share for $33,750 cash. The net proceeds of    the sale were to be used for working capital and to develop the medical    diagnostic imaging services business.

The Company's stock has no readily determinable market price and has been    value by the Company at par value which estimates fair value.
**NOTE 6 -     LOANS FROM STOCKHOLDERS
From December 2002 through December 2003, stockholders have made advances    to the Company for working capital purposes on unsecured demand notes with    no stated rate of interest. The balances at June 30, 2004 and 2003 are    $43,288 and $20,037, respectively.
**NOTE 7-**    GOING CONCERN**
The accompanying condensed financial statements have been prepared in    accordance with accounting principles generally accepted in the United    States of America, which contemplates continuation of the Company as a going    concern. The Company has had recurring operating deficits in the past few    years and has large accumulated deficits and is in the development stage and    has no recurring revenues. These items raise substantial doubt about the    Company's ability to continue as a going concern. 

In view of these matters, realization of the assets of the Company is    dependent upon the Company's ability to meet its financial requirements and    the success of future operations. These condensed financial statements do    not include adjustments relating to the recoverability and classification of    recorded asset amounts and classification of liabilities that might be    necessary should the Company be unable to continue in existence.

The Company's continued existence is dependent upon its ability to    generate sufficient cash flows from equity financing. 
**Item 2. Management's Discussion and Analysis or Plan ofOperation.**
Beeston is a development stage company with no operations, norevenue, limited financial backing and few assets. Beeston's plan of operationis to build a business providing medical diagnostic imaging services forindividuals in Western Canada. Beeston's customers would be individuals who areprepared to pay for the services they receive, as well as individual clients ofthe provincial medical insurance providers, workers' compensation boards, autoinsurance carriers and specialty insurance providers. At the present time,nearly all of these services are provided via the government administered systemin public hospitals. We believe there is an opportunity to establish privatefacilities in both British Columbia and Alberta, and it is Beeston's plan toestablish its initial facility within the first six months of our second year ofoperation.****
Beeston's plan is to market its services directly to theindividual client, who is dissatisfied with the provision of service under thecurrent government funded medical system, and to the limited number of majorinstitutional customers who make up the British Columbia and Alberta medicalservices marketplaces. The major institutional customers include automobileinsurance carriers, provincial worker's compensation boards, disabilityinsurance plans, specialty insurers, such as those who insure professionalsports teams, and the Alberta and British Columbia Medical Insurance Plans. Atthe present time all of these groups compete for scarce resources and everyoneis forced to endure long waiting times for access to medical services. 

Beeston's early development will be limited to theestablishment of a facility located in either Vancouver, British Columbia, orEdmonton, Alberta, that will offer services provided by either a CT or MRImedical diagnostic imaging technique and produced by equipment selected from aspecific group of CT and MRI scanners. We hope to have Beeston's initial medicaldiagnostic imaging facility in place and ready to receive clients withinBeeston's second year of operation. The business plan for Beeston's earlydevelopment will comprise two phases covering Beeston's first year of operationsfollowing the completion of its offering. It will involve the planning anddeveloping of Beeston's initial facility, establishing relations with potentialuser groups, securing facilities and equipment, and raising additional funds topay for the leasing of equipment, the leasing, preparing and equipping offacility space and to cover the initial operating costs of the facility.

The initial phase of the business plan is estimated to cost$39,000. The initial phase of Beeston's business plan will cover a period ofapproximately six months. The second phase of the business loan is estimated tocost $36,000. The second phase of Beeston's business plan will cover a period ofapproximately six months immediately following the initial phase of Beeston'sbusiness plan, and will likely occur sometime in 2005. Beeston currently doesnot have any funds for the leasing of equipment or facilities, or for theoperating expenses of a medical diagnostic imaging facility.

The selection of either Vancouver, British Columbia, orEdmonton, Alberta, as the location for Beeston's initial facility will alsoinvolve a review and assessment of each city for the availability of suitablepremises to lease. The determination of a location to lease for Beeston'sinitial facility will involve a number of considerations, including, the numberof rental spaces available, local zoning laws and building codes, and the siterequirements for the initial facility. The selection of the city, and with itthe determination of the availability of suitable lease spaces for Beeston'sinitial facility will require numerous reviews and assessments to be made ofexisting lease spaces by Beeston's industry consultant. 

Beeston currently rents office space at Beeston's businessaddress of #200-1687 West Broadway, Vancouver, British Columbia. These premises,comprising approximately 150 sq. ft. within an integrated office service, arerented from American Investments Ltd., an unaffiliated corporation, at a rent of$158 per month pursuant to a one-year lease, which commenced on September 1,2002, and has been renewed. Beeston has also acquired various computer andcomputer related equipment and furniture for use in performing ongoingadministrative tasks. These current facilities will be sufficient for Beeston'scurrent operations up until the time Beeston establishes its initial facility.

 

To date, all of Beeston's officers and directors haveprovided a total of $43,288 in funding to Beeston in the form of variousnon-interest demand loans. Beeston has no agreements with any of its officersand directors for the provision of additional funding.****
Beeston has no plans to expand outside Canada at this time.
**Item 3. Controls and Procedures.**
Within the 90-day period prior to the filing of this report, the Companycarried out an evaluation of the effectiveness of the Company's disclosurecontrols and procedures (as defined by Rule 13a-14(c) under the SecuritiesExchange Act of 1934) under the supervision and with the participation of theCompany's chief executive officer and chief financial officer. Based on and asof the date of such evaluation, the aforementioned officers have concluded thatthe Company's disclosure controls and procedures were effective.

The Company also maintains a system of internal accounting controls that isdesigned to provide assurance that assets are safeguarded and that transactionsare executed in accordance with management's authorization and properlyrecorded. This system is continually reviewed and is augmented by writtenpolicies and procedures, the careful selection and training of qualifiedpersonnel and an internal audit program to monitor its effectiveness. During thefirst quarter of fiscal year 2004, there were no significant changes to thissystem of internal controls or in other factors that could significantly affectthose controls.
**PART II - OTHER INFORMATION 

Item 6. Exhibits and Reports on Form 8-K.**
Exhibits:
Exhibit No.DocumentLocation3.1Articles of    IncorporationPreviously Filed3.2BylawsPreviously Filed31Rule    13a-41(a)/15d-14(a) CertificatesIncluded32Section 1350    CertificationsIncluded
Reports on Form 8-K

None

 
**SIGNATURES**
In accordance with the requirements of the Exchange Act, theregistrant caused this report to be signed on its behalf by the undersigned,thereunto duly authorized. 

 
**BEESTON ENTERPRISES LTD.**
 

August 19, 2004               ***/s/ Brian Smith                   ***

Date                                BRIAN SMITH, PRESIDENT

 

 

 

August 19, 2004               ***/s/ Cindy Watt                   ***

Date                                CINDY WATT, SECRETARY************************************************************ |
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