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REGISTERED NUMBER: 10161298 (England and Wales)










Bennett & Bennett Ltd

Unaudited Financial Statements

for the Year Ended 31 May 2023






Bennett & Bennett Ltd (Registered number: 10161298)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Bennett & Bennett Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: T D Bennett
Mrs J L Bennett





REGISTERED OFFICE: 75 Plantation Drive
Christchurch
England
BH23 5SG





REGISTERED NUMBER: 10161298 (England and Wales)

Bennett & Bennett Ltd (Registered number: 10161298)

Balance Sheet
31 May 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 5 575,000 575,000

CURRENT ASSETS
Cash at bank 4,249 5,612

CREDITORS
Amounts falling due within one year 6 (427,300 ) (435,860 )
NET CURRENT LIABILITIES (423,051 ) (430,248 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

151,949

144,752

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 142,970 142,970
Retained earnings 8,879 1,682
SHAREHOLDERS' FUNDS 151,949 144,752

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 February 2024 and were signed on its behalf by:



T D Bennett - Director


Bennett & Bennett Ltd (Registered number: 10161298)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Bennett & Bennett Ltd 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.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

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.

The company's functional and presentational currency is pound sterling.

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.

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

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 Profit and Loss Account, 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.

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.

Bennett & Bennett Ltd (Registered number: 10161298)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 575,000
NET BOOK VALUE
At 31 May 2023 575,000
At 31 May 2022 575,000

Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the profit or loss for the period.

The investment property fair value of £575,000 (2022 - £575,000) was determined by the directors by reference to the current open market prices for comparable property and adjusted for any differences in the nature, location and condition of the specific asset.

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2023 575,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 432,032 432,032

Investment property was valued on an open market basis on 31 May 2023 by the directors .

Bennett & Bennett Ltd (Registered number: 10161298)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 66,000 66,000
Corporation tax 1,688 424
Directors' current accounts 358,512 368,102
Accruals 907 1,147
Deferred income 193 187
427,300 435,860

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £1 100 100

8. RELATED PARTY DISCLOSURES

During the year the company continued to receive an interest free loan of £66,000 from Bennett & Moody Limited, a company of which a director and shareholder is also a director and shareholder. The loan is not secured and does not have fixed repayment terms. The loan has been included within current liabilities.