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Company registration number: 05843445
Smokey Benjamin Ltd
Unaudited filleted financial statements
30 June 2023
Smokey Benjamin Ltd
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Smokey Benjamin Ltd
Directors and other information
Directors Mr R S Nichols
Mrs D R Nichols
Secretary R S Nichols
Company number 05843445
Registered office 15A Rothamsted Avenue
Harpenden
AL5 2DD
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Smokey Benjamin Ltd
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Smokey Benjamin Ltd
Year ended 30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Smokey Benjamin Ltd for the year ended 30 June 2023 which comprise the statement of financial position and related notes 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 /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Smokey Benjamin Ltd, as a body, in accordance with the terms of our engagement letter dated 14 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Smokey Benjamin Ltd and state those matters that we have agreed to state to the board of directors of Smokey Benjamin Ltd 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 Smokey Benjamin Ltd and its board of directors as a body for our work or for this report.
It is your duty to ensure that Smokey Benjamin Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Smokey Benjamin Ltd. You consider that Smokey Benjamin Ltd 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 financial statements of Smokey Benjamin Ltd. 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 financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
20 November 2023
Smokey Benjamin Ltd
Statement of financial position
30 June 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 765 1,381
Investments 6 98,315 98,244
_______ _______
99,080 99,625
Current assets
Debtors 7 94 -
Cash at bank and in hand 12,482 17,883
_______ _______
12,576 17,883
Creditors: amounts falling due
within one year 8 ( 1,901) ( 2,181)
_______ _______
Net current assets 10,675 15,702
_______ _______
Total assets less current liabilities 109,755 115,327
_______ _______
Net assets 109,755 115,327
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 109,655 115,227
_______ _______
Shareholders funds 109,755 115,327
_______ _______
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2023 , and are signed on behalf of the board by:
Mr R S Nichols
Director
Company registration number: 05843445
Smokey Benjamin Ltd
Notes to the financial statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15A Rothamsted Avenue, Harpenden, AL5 2DD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, 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.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
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:
Fittings fixtures and equipment - 4 years straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 July 2022 15,402 15,402
Additions 187 187
_______ _______
At 30 June 2023 15,589 15,589
_______ _______
Depreciation
At 1 July 2022 14,021 14,021
Charge for the year 803 803
_______ _______
At 30 June 2023 14,824 14,824
_______ _______
Carrying amount
At 30 June 2023 765 765
_______ _______
At 30 June 2022 1,381 1,381
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost or valuation
At 1 July 2022 98,244 98,244
Additions 5,074 5,074
Disposals ( 5,000) ( 5,000)
Fair value adjustment (3) (3)
_______ _______
At 30 June 2023 98,315 98,315
_______ _______
Impairment
At 1 July 2022 and 30 June 2023 - -
_______ _______
Carrying amount
At 30 June 2023 98,315 98,315
_______ _______
At 30 June 2022 98,244 98,244
_______ _______
The investments are included at market value. The historical cost of the investments is £103,544 (2022: £103,470).
7. Debtors
2023 2022
£ £
Other debtors 94 -
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Corporation tax 1,271 1,571
Other creditors 630 610
_______ _______
1,901 2,181
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr R S Nichols - - -
_______ _______ _______
2022
Balance brought forward Amounts repaid Balance o/standing
£ £ £
Mr R S Nichols ( 150) 150 -
_______ _______ _______