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REGISTERED NUMBER: 00860507 (England and Wales)














NORMAN BENN LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2022






NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


NORMAN BENN LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: Miss A L Benn
Mr P C Benn





REGISTERED OFFICE: Landgate Chambers
Rye
East Sussex
TN31 7LJ





REGISTERED NUMBER: 00860507 (England and Wales)





ACCOUNTANTS: Gibbons Mannington & Phipps LLP
Chartered Accountants
82 High Street
Tenterden
Kent
TN30 6JG

NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 151 14,922
Investment property 5 253,195 253,195
253,346 268,117

CURRENT ASSETS
Debtors 6 5,852 275
Prepayments and accrued income - 168,741
Cash at bank 22,310 182,715
28,162 351,731
CREDITORS
Amounts falling due within one year 7 5,478 143,136
NET CURRENT ASSETS 22,684 208,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,030

476,712

CREDITORS
Amounts falling due after more than one
year

8

45,028

225,432
NET ASSETS 231,002 251,280

CAPITAL AND RESERVES
Called up share capital 10 2,000 2,000
Retained earnings 229,002 249,280
SHAREHOLDERS' FUNDS 231,002 251,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

BALANCE SHEET - continued
30 NOVEMBER 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 November 2023 and were signed on its behalf by:





Mr P C Benn - Director


NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022


1. STATUTORY INFORMATION

Norman Benn Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of investment properties.

The accounts have been prepared on a going concern basis. However as the bank loans become repayable in the next five years the company will sell investment properties in order meet its liabilities. As investment properties are put on the market to sell they will be transferred to current assets, no properties were being marketed for sale at the end of this financial year.

Turnover
Turnover represents gross rental income received by the company during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. 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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the average exchange rate throughout the year. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - NIL ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2021 7,410 26,200 590 34,200
Disposals - (26,200 ) - (26,200 )
At 30 November 2022 7,410 - 590 8,000
DEPRECIATION
At 1 December 2021 7,284 11,463 531 19,278
Charge for year 19 - 15 34
Eliminated on disposal - (11,463 ) - (11,463 )
At 30 November 2022 7,303 - 546 7,849
NET BOOK VALUE
At 30 November 2022 107 - 44 151
At 30 November 2021 126 14,737 59 14,922


NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2021
and 30 November 2022 253,195
NET BOOK VALUE
At 30 November 2022 253,195
At 30 November 2021 253,195

Fair value at 30 November 2022 is represented by:
£   
Valuation in 2007 11,744
Valuation in 2008 (16,200 )
Valuation in 2009 3,810
Valuation in 2010 (18,060 )
Valuation in 2012 (10,093 )
Valuation in 2013 14,775
Valuation in 2014 (30,277 )
Valuation in 2015 1,058
Valuation in 2018 8,653
Valuation in 2020 (12,171 )
Cost 299,956
253,195

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 5,852 275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts - 134,772
Trade creditors 1,436 1,436
Other creditors 4,042 6,928
5,478 143,136

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 45,028 225,432

NORMAN BENN LIMITED (REGISTERED NUMBER: 00860507)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2022 2021
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans of more than 5 years 45,028 51,845

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 45,028 360,204

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2,000 Ordinary £1 2,000 2,000

11. RELATED PARTY DISCLOSURES

As at 30 November 2022 a balance of £5,852 (2021 - £3,552 creditor) was owed to the company by a shareholder, and this amount is included in other debtors.

The above loan is made on an interest free basis and there are no terms for repayment.

During the previous year the company sold a property for £160,000 to one of its shareholders.