Silverfin false 31/01/2022 31/01/2022 01/02/2021 Mark George Turner 15/01/2014 13 September 2022 The principal activity of the company continued to be that of building and roofing services. 08847085 2022-01-31 08847085 bus:Director1 2022-01-31 08847085 2021-01-31 08847085 core:CurrentFinancialInstruments 2022-01-31 08847085 core:CurrentFinancialInstruments 2021-01-31 08847085 core:Non-currentFinancialInstruments 2022-01-31 08847085 core:Non-currentFinancialInstruments 2021-01-31 08847085 core:ShareCapital 2022-01-31 08847085 core:ShareCapital 2021-01-31 08847085 core:RetainedEarningsAccumulatedLosses 2022-01-31 08847085 core:RetainedEarningsAccumulatedLosses 2021-01-31 08847085 core:OtherPropertyPlantEquipment 2021-01-31 08847085 core:OtherPropertyPlantEquipment 2022-01-31 08847085 bus:OrdinaryShareClass1 2022-01-31 08847085 2021-02-01 2022-01-31 08847085 bus:FullAccounts 2021-02-01 2022-01-31 08847085 bus:SmallEntities 2021-02-01 2022-01-31 08847085 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 08847085 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 08847085 bus:Director1 2021-02-01 2022-01-31 08847085 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-02-01 2022-01-31 08847085 2020-02-01 2021-01-31 08847085 core:OtherPropertyPlantEquipment 2021-02-01 2022-01-31 08847085 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 08847085 bus:OrdinaryShareClass1 2020-02-01 2021-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08847085 (England and Wales)

BENCHMARK BUILDING AND ROOFING LTD

Unaudited Financial Statements
For the financial year ended 31 January 2022
Pages for filing with the registrar

BENCHMARK BUILDING AND ROOFING LTD

Unaudited Financial Statements

For the financial year ended 31 January 2022

Contents

BENCHMARK BUILDING AND ROOFING LTD

COMPANY INFORMATION

For the financial year ended 31 January 2022
BENCHMARK BUILDING AND ROOFING LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2022
DIRECTOR Mark George Turner
REGISTERED OFFICE 18 The Beach
Snettisham
King's Lynn The Beach
Snettisham
King's Lynn
PE31 7RB
England
United Kingdom
COMPANY NUMBER 08847085 (England and Wales)
CHARTERED ACCOUNTANTS Gascoynes
Gascoyne House
Moseleys Farm Business Centre
Fornham All Saints
Bury St Edmunds
Suffolk
IP28 6JY
BENCHMARK BUILDING AND ROOFING LTD

BALANCE SHEET

As at 31 January 2022
BENCHMARK BUILDING AND ROOFING LTD

BALANCE SHEET (continued)

As at 31 January 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 37,770 15,213
37,770 15,213
Current assets
Stocks 47,000 6,250
Debtors 4 40,137 52,096
Cash at bank and in hand 29,767 68,470
116,904 126,816
Creditors
Amounts falling due within one year 5 ( 124,321) ( 104,458)
Net current (liabilities)/assets (7,417) 22,358
Total assets less current liabilities 30,353 37,571
Creditors
Amounts falling due after more than one year 6 ( 11,000) 0
Provision for liabilities ( 7,176) ( 2,891)
Net assets 12,177 34,680
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 12,077 34,580
Total shareholders' funds 12,177 34,680

For the financial year ending 31 January 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 financial statements of Benchmark Building and Roofing Ltd (registered number: 08847085) were approved and authorised for issue by the Director on 13 September 2022. They were signed on its behalf by:

Mark George Turner
Director
BENCHMARK BUILDING AND ROOFING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2022
BENCHMARK BUILDING AND ROOFING LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Benchmark Building and Roofing Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 18 The Beach, Snettisham, King's Lynn The Beach, Snettisham, King's Lynn, PE31 7RB, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services 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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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 carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews 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). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. 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. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

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 creditors: amounts falling due within one year.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either 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.

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 payments 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. Amounts 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.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 February 2021 61,004 61,004
Additions 29,658 29,658
At 31 January 2022 90,662 90,662
Accumulated depreciation
At 01 February 2021 45,791 45,791
Charge for the financial year 7,101 7,101
At 31 January 2022 52,892 52,892
Net book value
At 31 January 2022 37,770 37,770
At 31 January 2021 15,213 15,213

4. Debtors

2022 2021
£ £
Trade debtors 0 52,096
Corporation tax 2,637 0
Other debtors 37,500 0
40,137 52,096

5. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans 12,000 0
Trade creditors 38,177 15,379
Other creditors 28,449 7,895
Corporation tax 0 7,683
Other taxation and social security 45,695 70,473
Obligations under finance leases and hire purchase contracts 0 3,028
124,321 104,458

6. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 11,000 0

7. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2022 2021
£ £
Directors loan account 25,531 5,782

Dividends totalling £21,000 (2021 - £14,350) were paid in the year in respect of shares held by the company's directors.