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MA & EJ BENNETT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


MA & EJ BENNETT LIMITED

COMPANY INFORMATION
for the Year Ended 31 July 2023







DIRECTORS: M A Bennett
Mrs E J Bennett





SECRETARY:





REGISTERED OFFICE: Lane End Farm
Broadhembury
Honiton
Devon
EX14 3LU





REGISTERED NUMBER: 06283489 (England and Wales)





ACCOUNTANTS: Barretts
Chartered Accountants &
Chartered Tax Advisers
22 Union Street
Newton Abbot
Devon
TQ12 2JS

MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,743,808 2,678,308

CURRENT ASSETS
Stocks 874,782 769,140
Debtors 5 64,529 82,099
Cash at bank and in hand 92,518 22,119
1,031,829 873,358
CREDITORS
Amounts falling due within one year 6 664,153 612,925
NET CURRENT ASSETS 367,676 260,433
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,111,484

2,938,741

CREDITORS
Amounts falling due after more than one
year

7

(869,075

)

(933,552

)

PROVISIONS FOR LIABILITIES (116,629 ) (111,499 )
NET ASSETS 2,125,780 1,893,690

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 9 2,124,780 1,892,690
SHAREHOLDERS' FUNDS 2,125,780 1,893,690

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

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

MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)

BALANCE SHEET - continued
31 July 2023


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 2 April 2024 and were signed on its behalf by:





M A Bennett - Director


MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2023

1. STATUTORY INFORMATION

MA & EJ Bennett 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 August 2022 2,131,099 1,178,888 3,309,987
Additions 57,982 148,400 206,382
Disposals - (56,900 ) (56,900 )
At 31 July 2023 2,189,081 1,270,388 3,459,469
DEPRECIATION
At 1 August 2022 39,628 592,051 631,679
Charge for year 10,124 108,352 118,476
Eliminated on disposal - (34,494 ) (34,494 )
At 31 July 2023 49,752 665,909 715,661
NET BOOK VALUE
At 31 July 2023 2,139,329 604,479 2,743,808
At 31 July 2022 2,091,471 586,837 2,678,308

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
VAT 21,429 13,501
Prepayments 117 117
21,546 13,618

Amounts falling due after more than one year:
Trade debtors 42,983 68,481

Aggregate amounts 64,529 82,099

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 74,544 74,544
Hire purchase contracts 500 2,225
Trade creditors 183,154 141,453
Tax 41,098 30,180
Other creditors 4,395 4,395
Directors' current accounts 358,151 357,967
Accrued expenses 2,311 2,161
664,153 612,925

MA & EJ BENNETT LIMITED (REGISTERED NUMBER: 06283489)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 869,075 932,977
Hire purchase contracts - 575
869,075 933,552

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary Shares 1000 1,000 1,000

9. RESERVES
Retained
earnings
£   

At 1 August 2022 1,892,690
Profit for the year 273,490
Dividends (41,400 )
At 31 July 2023 2,124,780

10. OTHER FINANCIAL COMMITMENTS

At 31st July 2022, the company had total commitments under non-cancellable finance leases over the remaining life of those leases of £2,800(2021 £5100)