IRIS Accounts Production v23.4.0.336 03422696 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false Ordinary shares 1.00000 Preference shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh034226962022-12-31034226962023-12-31034226962023-01-012023-12-31034226962021-12-31034226962022-01-012022-12-31034226962022-12-3103422696ns15:EnglandWales2023-01-012023-12-3103422696ns14:PoundSterling2023-01-012023-12-3103422696ns10:Director12023-01-012023-12-3103422696ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3103422696ns10:SmallEntities2023-01-012023-12-3103422696ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3103422696ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3103422696ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3103422696ns10:FullAccounts2023-01-012023-12-310342269612023-01-012023-12-3103422696ns10:OrdinaryShareClass12023-01-012023-12-3103422696ns10:OrdinaryShareClass22023-01-012023-12-3103422696ns10:Director22023-01-012023-12-3103422696ns10:CompanySecretary12023-01-012023-12-3103422696ns10:RegisteredOffice2023-01-012023-12-3103422696ns5:CurrentFinancialInstruments2023-12-3103422696ns5:CurrentFinancialInstruments2022-12-3103422696ns5:Non-currentFinancialInstruments2023-12-3103422696ns5:Non-currentFinancialInstruments2022-12-3103422696ns5:ShareCapital2023-12-3103422696ns5:ShareCapital2022-12-3103422696ns5:RevaluationReserve2023-12-3103422696ns5:RevaluationReserve2022-12-3103422696ns5:RetainedEarningsAccumulatedLosses2023-12-3103422696ns5:RetainedEarningsAccumulatedLosses2022-12-3103422696ns5:NetGoodwill2023-01-012023-12-3103422696ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3103422696ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-01-012023-12-3103422696ns5:PlantMachinery2023-01-012023-12-3103422696ns5:NetGoodwill2022-12-3103422696ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3103422696ns5:NetGoodwill2023-12-3103422696ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2023-12-3103422696ns5:NetGoodwill2022-12-3103422696ns5:DevelopmentCostsCapitalisedDevelopmentExpenditure2022-12-3103422696ns5:PlantMachinery2022-12-3103422696ns5:PlantMachinery2023-12-3103422696ns5:PlantMachinery2022-12-3103422696ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3103422696ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3103422696ns10:OrdinaryShareClass12023-12-3103422696ns10:OrdinaryShareClass22023-12-31
REGISTERED NUMBER: 03422696 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Binsted Group Limited

Binsted Group Limited (Registered number: 03422696)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Binsted Group Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J C Binsted
E Binsted





SECRETARY: J C Binsted





REGISTERED OFFICE: Suite 15
The Enterprise Centre
Coxbridge Business Park
Farnham
Surrey
GU10 5EH





REGISTERED NUMBER: 03422696 (England and Wales)





ACCOUNTANTS: Gilroy & Brookes Accountants Ltd
Suite 15
The Enterprise Centre
Coxbridge Business Park
Farnham
Surrey
GU10 5EH

Binsted Group Limited (Registered number: 03422696)

Balance Sheet
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 903,000 903,000
Tangible assets 5 - -
903,000 903,000

CURRENT ASSETS
Stocks 6 1,511 1,511
Debtors 7 28,235 39,262
Cash at bank 6,721 11,308
36,467 52,081
CREDITORS
Amounts falling due within one year 8 (22,081 ) (31,905 )
NET CURRENT ASSETS 14,386 20,176
TOTAL ASSETS LESS CURRENT
LIABILITIES

917,386

923,176

CREDITORS
Amounts falling due after more than one
year

9

(15,277

)

(18,924

)
NET ASSETS 902,109 904,252

CAPITAL AND RESERVES
Called up share capital 11 70,898 70,898
Revaluation reserve 903,000 903,000
Retained earnings (71,789 ) (69,646 )
SHAREHOLDERS' FUNDS 902,109 904,252

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

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

Binsted Group Limited (Registered number: 03422696)

Balance Sheet - continued
31 December 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 by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:





E Binsted - Director


Binsted Group Limited (Registered number: 03422696)

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

1. STATUTORY INFORMATION

Binsted Group 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.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of nil years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost

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 asset is not recognised as it is not probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

Binsted Group Limited (Registered number: 03422696)

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

4. INTANGIBLE FIXED ASSETS
Development
Goodwill costs Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 106,641 903,000 1,009,641
AMORTISATION
At 1 January 2023
and 31 December 2023 106,641 - 106,641
NET BOOK VALUE
At 31 December 2023 - 903,000 903,000
At 31 December 2022 - 903,000 903,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023
and 31 December 2023 24,572
DEPRECIATION
At 1 January 2023
and 31 December 2023 24,572
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. STOCKS
2023 2022
£    £   
Raw materials 1,511 1,511

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 21,158 26,140
Pensions - 236
Directors' current accounts 7,077 12,886
28,235 39,262

Binsted Group Limited (Registered number: 03422696)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 10) 997 7,420
Other loans (see note 10) - 413
Trade creditors 5,931 7,201
PAYE/NI liability 1,362 2,692
Pension Liability 183 -
VAT 8,245 8,966
Bounce Back Loan < 1 year 2,778 2,778
Accrued expenses 2,585 2,435
22,081 31,905

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bounce back loan 15,277 18,924

10. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 997 7,420
Other loans - 413
997 7,833

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50,000 Ordinary shares £1 50,000 50,000
20,898 Preference shares £1 20,898 20,898
70,898 70,898

12. ULTIMATE CONTROLLING PARTY

The company is under the control of E Binsted, who holds more than 50% of the issued share capital.
E Binsted is also the director of the company.