Benefoot (Uk) Limited 04375696 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is sale of healthcare products Digita Accounts Production Advanced 6.30.9574.0 true true 04375696 2022-04-01 2023-03-31 04375696 2023-03-31 04375696 core:RetainedEarningsAccumulatedLosses 2023-03-31 04375696 core:ShareCapital 2023-03-31 04375696 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04375696 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 04375696 core:FurnitureFittingsToolsEquipment 2023-03-31 04375696 core:MotorVehicles 2023-03-31 04375696 bus:SmallEntities 2022-04-01 2023-03-31 04375696 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 04375696 bus:FullAccounts 2022-04-01 2023-03-31 04375696 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 04375696 bus:RegisteredOffice 2022-04-01 2023-03-31 04375696 bus:Director1 2022-04-01 2023-03-31 04375696 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04375696 core:Goodwill 2022-04-01 2023-03-31 04375696 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 04375696 core:MotorVehicles 2022-04-01 2023-03-31 04375696 core:PlantMachinery 2022-04-01 2023-03-31 04375696 countries:EnglandWales 2022-04-01 2023-03-31 04375696 2022-03-31 04375696 core:FurnitureFittingsToolsEquipment 2022-03-31 04375696 core:MotorVehicles 2022-03-31 04375696 2021-04-01 2022-03-31 04375696 2022-03-31 04375696 core:RetainedEarningsAccumulatedLosses 2022-03-31 04375696 core:ShareCapital 2022-03-31 04375696 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 04375696 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 04375696 core:FurnitureFittingsToolsEquipment 2022-03-31 04375696 core:MotorVehicles 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 04375696

Benefoot (Uk) Limited



Filleted Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Benefoot (Uk) Limited

 

(Registration number: 04375696)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

36,237

14,526

Current assets

 

Stocks

5

562,402

376,289

Debtors

6

493,172

392,177

Cash at bank and in hand

 

271,791

816,147

 

1,327,365

1,584,613

Creditors: Amounts falling due within one year

7

(134,359)

(160,517)

Net current assets

 

1,193,006

1,424,096

Total assets less current liabilities

 

1,229,243

1,438,622

Creditors: Amounts falling due after more than one year

7

-

(250,000)

Provisions for liabilities

(844)

(1,916)

Net assets

 

1,228,399

1,186,706

Capital and reserves

 

Called up share capital

160

160

Profit and loss account

1,228,239

1,186,546

Total equity

 

1,228,399

1,186,706

 

Benefoot (Uk) Limited

 

(Registration number: 04375696)
Balance Sheet as at 31 March 2023

For the financial year ending 31 March 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 November 2023 and signed on its behalf by:
 

.........................................
Mr S A Lachs
Director

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
Unit 1 Branson Court
Branson Street
Manchester
M40 7FP
England

These financial statements were authorised for issue by the Board on 15 November 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 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.

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Plant and machinery

25% straight line

Motor vehicles

25% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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 merchandise sold 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.

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. Accounts payable 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.

Borrowings

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 17 (2022 - 17).

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

121,735

13,622

135,357

Additions

3,067

29,385

32,452

At 31 March 2023

124,802

43,007

167,809

Depreciation

At 1 April 2022

118,659

2,172

120,831

Charge for the year

1,339

9,402

10,741

At 31 March 2023

119,998

11,574

131,572

Carrying amount

At 31 March 2023

4,804

31,433

36,237

At 31 March 2022

3,076

11,450

14,526

5

Stocks

2023
£

2022
£

Finished goods and goods for resale

542,302

356,189

Other inventories

20,100

20,100

562,402

376,289

 

Benefoot (Uk) Limited

 

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

208,796

202,867

Prepayments

12,563

36,038

Other debtors

271,813

153,272

 

493,172

392,177

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

13,515

30,537

Taxation and social security

41,098

57,980

Accruals and deferred income

7,824

7,634

Other creditors

4,325

7,306

Corporation tax liability

33,145

56,860

Director current accounts

34,452

200

134,359

160,517

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

-

250,000