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REGISTERED NUMBER: 10435077 (England and Wales)














Unaudited Financial Statements

For The Year Ended 31st October 2023

for

Benjamin S P Limited

Benjamin S P Limited (Registered number: 10435077)






Contents of the Financial Statements
For The Year Ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Benjamin S P Limited

Company Information
For The Year Ended 31st October 2023







DIRECTOR: S P Benjamin





REGISTERED OFFICE: Wildin & Co
Kings Buildings
Hill Street
Lydney
Gloucestershire
GL15 5HE





REGISTERED NUMBER: 10435077 (England and Wales)





ACCOUNTANTS: Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE

Benjamin S P Limited (Registered number: 10435077)

Balance Sheet
31st October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,255 56,340

CURRENT ASSETS
Stocks 5 129,468 140,228
Debtors 6 196,852 156,055
Cash at bank and in hand 104,767 85,240
431,087 381,523
CREDITORS
Amounts falling due within one year 7 191,592 175,792
NET CURRENT ASSETS 239,495 205,731
TOTAL ASSETS LESS CURRENT
LIABILITIES

281,750

262,071

CREDITORS
Amounts falling due after more than one
year

8

(25,833

)

(39,315

)

PROVISIONS FOR LIABILITIES 11 (8,028 ) (10,705 )
NET ASSETS 247,889 212,051

CAPITAL AND RESERVES
Called up share capital 12 1 1
Retained earnings 13 247,888 212,050
SHAREHOLDERS' FUNDS 247,889 212,051

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Benjamin S P Limited (Registered number: 10435077)

Balance Sheet - continued
31st October 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 25th March 2024 and were signed by:





S P Benjamin - Director


Benjamin S P Limited (Registered number: 10435077)

Notes to the Financial Statements
For The Year Ended 31st October 2023

1. STATUTORY INFORMATION

Benjamin S P 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.
Motor vehicles - 25% 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 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Benjamin S P Limited (Registered number: 10435077)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1st November 2022
and 31st October 2023 160,412
DEPRECIATION
At 1st November 2022 104,072
Charge for year 14,085
At 31st October 2023 118,157
NET BOOK VALUE
At 31st October 2023 42,255
At 31st October 2022 56,340

5. STOCKS
31.10.23 31.10.22
£    £   
Stocks 129,468 140,228

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 195,987 155,195
Prepayments 865 860
196,852 156,055

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Funding Loans 36,182 63,325
Tax 24,091 12,768
VAT 18,791 18,756
Directors' current accounts 35,077 12,852
Accrued expenses 77,451 68,091
191,592 175,792

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.23 31.10.22
£    £   
Bank loans (see note 9) 25,833 35,833
Hire purchase contracts - 3,482
25,833 39,315

Benjamin S P Limited (Registered number: 10435077)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.10.23 31.10.22
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 25,833 35,833

9. LOANS

An analysis of the maturity of loans is given below:

31.10.23 31.10.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 25,833 35,833

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Snap On U K Holdings Limited 105,490 123,756

There is a fixed and floating charge over the assets of the company.

11. PROVISIONS FOR LIABILITIES
31.10.23 31.10.22
£    £   
Deferred tax 8,028 10,705

Deferred
tax
£   
Balance at 1st November 2022 10,705
Credit to Income Statement during year (2,677 )
Balance at 31st October 2023 8,028

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1 Ordinary £1 1 1

Benjamin S P Limited (Registered number: 10435077)

Notes to the Financial Statements - continued
For The Year Ended 31st October 2023

13. RESERVES
Retained
earnings
£   

At 1st November 2022 212,050
Profit for the year 76,838
Dividends (41,000 )
At 31st October 2023 247,888

14. ULTIMATE CONTROLLING PARTY

The controlling party is S P Benjamin.

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Benjamin S P Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Benjamin S P Limited for the year ended 31st October 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Benjamin S P Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Benjamin S P Limited and state those matters that we have agreed to state to the director of Benjamin S P Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Benjamin S P Limited 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 Benjamin S P Limited. You consider that Benjamin S P Limited 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 Benjamin S P Limited. 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.






Wildin (Accountants & Auditors) Ltd
Kings Buildings
Lydney
Gloucestershire
GL15 5HE


25th March 2024