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Registrar of Companies

Registration number: 00859328

Ben Sayer (Westmorland) Limited

Unaudited Financial Statements

28 February 2022

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Ben Sayer (Westmorland) Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ben Sayer (Westmorland) Limited
for the Year Ended 28 February 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ben Sayer (Westmorland) Limited for the year ended 28 February 2022 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Ben Sayer (Westmorland) Limited, as a body, in accordance with the terms of our engagement letter dated 15 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of Ben Sayer (Westmorland) Limited and state those matters that we have agreed to state to the Board of Directors of Ben Sayer (Westmorland) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ben Sayer (Westmorland) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ben Sayer (Westmorland) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ben Sayer (Westmorland) Limited. You consider that Ben Sayer (Westmorland) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Ben Sayer (Westmorland) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

25 July 2022

 

Ben Sayer (Westmorland) Limited

(Registration number: 00859328)
Balance Sheet as at 28 February 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

439,116

387,292

Investment property

5

184,580

184,580

 

623,696

571,872

Current assets

 

Stocks

6,768

14,080

Debtors

6

289,369

242,817

Cash at bank and in hand

 

205,612

283,297

 

501,749

540,194

Creditors: Amounts falling due within one year

7

(123,549)

(146,210)

Net current assets

 

378,200

393,984

Total assets less current liabilities

 

1,001,896

965,856

Creditors: Amounts falling due after more than one year

7

(33,332)

(43,334)

Provisions for liabilities

(78,913)

(69,066)

Net assets

 

889,651

853,456

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

888,651

852,456

Total equity

 

889,651

853,456

 

Ben Sayer (Westmorland) Limited

(Registration number: 00859328)
Balance Sheet as at 28 February 2022 (continued)

For the financial year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 July 2022
 

.........................................

J S Pattinson

Director

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Castle Garage
Brough
KIRKBY STEPHEN
CA17 4BD

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.


Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.

Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

The total amount of grants receivable during the year in relation to Coronavirus Job Retention Scheme amounted to £212 (2021 - £11,536).

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022 (continued)

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

10% straight line basis

Plant and Equipment

12.5% reducing balance basis

Motor vehicles

25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The value is determined from observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for the sale of goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022 (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 12 (2021 - 12).

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022 (continued)

4

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2021

6,835

34,015

1,051,728

1,092,578

Additions

-

333

175,813

176,146

At 28 February 2022

6,835

34,348

1,227,541

1,268,724

Depreciation

At 1 March 2021

6,435

17,870

680,981

705,286

Charge for the year

200

1,991

122,131

124,322

At 28 February 2022

6,635

19,861

803,112

829,608

Carrying amount

At 28 February 2022

200

14,487

424,429

439,116

At 28 February 2021

400

16,145

370,747

387,292

5

Investment properties

£

At 1 March 2021

184,580

At 28 February 2022

184,580

The director considers the purchase price to be a fair representation of value at 28 February 2022.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2022
£

2021
£

Trade debtors

277,427

217,415

Other debtors

11,942

25,402

289,369

242,817

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2022 (continued)

7

Creditors

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

13,265

9,089

Trade creditors

 

50,942

66,204

Taxation and social security

 

41,114

38,649

Corporation tax liability

 

13,283

17,568

Other creditors

 

4,945

14,700

 

123,549

146,210

Due after one year

 

Loans and borrowings

8

33,332

43,334

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Bank borrowings

10,000

6,260

Other borrowings

3,265

2,829

13,265

9,089

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

33,332

43,334