0 false false false false false false false false false false true false false false false false false No description of principal activity 2021-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 7,251 6,541 385 6,926 325 710 922 643 199 842 80 279 xbrli:pure xbrli:shares iso4217:GBP SC518724 2021-11-01 2023-01-31 SC518724 2023-01-31 SC518724 2021-10-31 SC518724 2020-11-01 2021-10-31 SC518724 2021-10-31 SC518724 2020-10-31 SC518724 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-11-01 2023-01-31 SC518724 bus:Director1 2021-11-01 2023-01-31 SC518724 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-10-31 SC518724 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-31 SC518724 core:WithinOneYear 2023-01-31 SC518724 core:WithinOneYear 2021-10-31 SC518724 core:AfterOneYear 2023-01-31 SC518724 core:AfterOneYear 2021-10-31 SC518724 core:ShareCapital 2023-01-31 SC518724 core:ShareCapital 2021-10-31 SC518724 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC518724 core:RetainedEarningsAccumulatedLosses 2021-10-31 SC518724 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-10-31 SC518724 bus:Director1 2021-10-31 SC518724 bus:Director1 2023-01-31 SC518724 bus:Director1 2020-10-31 SC518724 bus:Director1 2021-10-31 SC518724 bus:Director1 2020-11-01 2021-10-31 SC518724 bus:SmallEntities 2021-11-01 2023-01-31 SC518724 bus:AuditExemptWithAccountantsReport 2021-11-01 2023-01-31 SC518724 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2023-01-31 SC518724 bus:PrivateLimitedCompanyLtd 2021-11-01 2023-01-31 SC518724 bus:FullAccounts 2021-11-01 2023-01-31 SC518724 core:OfficeEquipment 2021-11-01 2023-01-31 SC518724 core:OfficeEquipment 2023-01-31 SC518724 core:OfficeEquipment 2021-10-31
COMPANY REGISTRATION NUMBER: SC518724
Benedict & Hott Limited
Filleted Unaudited Financial Statements
31 January 2023
Benedict & Hott Limited
Statement of Financial Position
31 January 2023
31 Jan 23
31 Oct 21
Note
£
£
£
Fixed assets
Intangible assets
4
325
710
Tangible assets
5
80
279
----
----
405
989
Current assets
Stocks
41,883
39,709
Debtors
6
2,783
5,781
Cash at bank and in hand
9,239
8,829
--------
--------
53,905
54,319
Creditors: amounts falling due within one year
7
20,856
23,340
--------
--------
Net current assets
33,049
30,979
--------
--------
Total assets less current liabilities
33,454
31,968
Creditors: amounts falling due after more than one year
8
65,000
65,000
--------
--------
Net liabilities
( 31,546)
( 33,032)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 31,547)
( 33,033)
--------
--------
Shareholders deficit
( 31,546)
( 33,032)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 January 2023 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 financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Benedict & Hott Limited
Statement of Financial Position (continued)
31 January 2023
These financial statements were approved by the board of directors and authorised for issue on 26 October 2023 , and are signed on behalf of the board by:
Mr G A Booker
Director
Company registration number: SC518724
Benedict & Hott Limited
Notes to the Financial Statements
Period from 1 November 2021 to 31 January 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is Smailholm House, Eden Road, Smailholm, Kelso, TD5 7PQ, Scotland.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development costs
-
25% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Equipment
-
25% straight line
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
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Intangible assets
Development costs
£
Cost
At 1 November 2021 and 31 January 2023
7,251
-------
Amortisation
At 1 November 2021
6,541
Charge for the period
385
-------
At 31 January 2023
6,926
-------
Carrying amount
At 31 January 2023
325
-------
At 31 October 2021
710
-------
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 November 2021 and 31 January 2023
922
922
----
----
Depreciation
At 1 November 2021
643
643
Charge for the period
199
199
----
----
At 31 January 2023
842
842
----
----
Carrying amount
At 31 January 2023
80
80
----
----
At 31 October 2021
279
279
----
----
6. Debtors
31 Jan 23
31 Oct 21
£
£
Trade debtors
216
3,493
Other debtors
2,567
2,288
-------
-------
2,783
5,781
-------
-------
7. Creditors: amounts falling due within one year
31 Jan 23
31 Oct 21
£
£
Trade creditors
460
Other creditors
20,856
22,880
--------
--------
20,856
23,340
--------
--------
8. Creditors: amounts falling due after more than one year
31 Jan 23
31 Oct 21
£
£
Other creditors
65,000
65,000
--------
--------
9. Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
31 Jan 23
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G A Booker
( 19,522)
569
( 1,353)
( 20,306)
--------
----
-------
--------
31 Oct 21
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr G A Booker
( 16,334)
1,076
( 4,264)
( 19,522)
--------
-------
-------
--------