Bentley Drivers Club Limited 00316068 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is Membership club for Bentley drivers Digita Accounts Production Advanced 6.30.9574.0 true true false false false 00316068 2023-01-01 2023-12-31 00316068 2023-12-31 00316068 bus:Director12 2023-12-31 00316068 bus:Director15 2023-12-31 00316068 bus:Director16 2023-12-31 00316068 bus:Director17 2023-12-31 00316068 bus:Director18 2023-12-31 00316068 bus:Director19 2023-12-31 00316068 bus:Director2 2023-12-31 00316068 bus:Director20 2023-12-31 00316068 bus:Director21 2023-12-31 00316068 bus:Director4 2023-12-31 00316068 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00316068 core:FurnitureFittingsToolsEquipment 2023-12-31 00316068 core:LandBuildings 2023-12-31 00316068 core:MotorVehicles 2023-12-31 00316068 core:OtherPropertyPlantEquipment 2023-12-31 00316068 bus:SmallEntities 2023-01-01 2023-12-31 00316068 bus:Audited 2023-01-01 2023-12-31 00316068 bus:FullAccounts 2023-01-01 2023-12-31 00316068 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00316068 bus:RegisteredOffice 2023-01-01 2023-12-31 00316068 bus:CompanySecretary1 2023-01-01 2023-12-31 00316068 bus:Director11 2023-01-01 2023-12-31 00316068 bus:Director12 2023-01-01 2023-12-31 00316068 bus:Director14 2023-01-01 2023-12-31 00316068 bus:Director15 2023-01-01 2023-12-31 00316068 bus:Director16 2023-01-01 2023-12-31 00316068 bus:Director17 2023-01-01 2023-12-31 00316068 bus:Director18 2023-01-01 2023-12-31 00316068 bus:Director19 2023-01-01 2023-12-31 00316068 bus:Director2 2023-01-01 2023-12-31 00316068 bus:Director20 2023-01-01 2023-12-31 00316068 bus:Director21 2023-01-01 2023-12-31 00316068 bus:Director4 2023-01-01 2023-12-31 00316068 bus:Director6 2023-01-01 2023-12-31 00316068 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00316068 bus:Agent1 2023-01-01 2023-12-31 00316068 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 00316068 core:LandBuildings 2023-01-01 2023-12-31 00316068 core:MotorVehicles 2023-01-01 2023-12-31 00316068 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00316068 core:Subsidiary1 2023-01-01 2023-12-31 00316068 core:Subsidiary1 1 2023-01-01 2023-12-31 00316068 core:Subsidiary1 countries:UnitedKingdom 2023-01-01 2023-12-31 00316068 core:Subsidiary2 2023-01-01 2023-12-31 00316068 core:Subsidiary2 1 2023-01-01 2023-12-31 00316068 core:Subsidiary2 countries:UnitedKingdom 2023-01-01 2023-12-31 00316068 countries:UnitedKingdom 2023-01-01 2023-12-31 00316068 2022-12-31 00316068 core:FurnitureFittingsToolsEquipment 2022-12-31 00316068 core:LandBuildings 2022-12-31 00316068 core:MotorVehicles 2022-12-31 00316068 core:OtherPropertyPlantEquipment 2022-12-31 00316068 2022-01-01 2022-12-31 00316068 2022-12-31 00316068 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00316068 core:FurnitureFittingsToolsEquipment 2022-12-31 00316068 core:LandBuildings 2022-12-31 00316068 core:MotorVehicles 2022-12-31 00316068 core:OtherPropertyPlantEquipment 2022-12-31 00316068 core:Subsidiary1 1 2022-01-01 2022-12-31 00316068 core:Subsidiary2 1 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 00316068

Bentley Drivers Club Limited

Annual Report and Financial Statements

for the Year Ended 31 December 2023

 

Bentley Drivers Club Limited

Contents

Company Information

1

Directors' Report

2 to 3

Independent Auditor's Report

4 to 6

Profit and Loss Account

7

Balance Sheet

8

Notes to the Financial Statements

9 to 13

 

Bentley Drivers Club Limited

Company Information

Directors

Mr Duncan Charles Wiltshire

Mr David Spencer

Mr Philip Brooks

Mr Andrew Day

Mrs Barbara Haig

Mr Christopher Michael Warner

Dr Diana Davy

Mr Bernard Walker

Company secretary

Mr Dennis John Boatwright

Registered office

W.O.Bentley Memorial Building
Ironstone Lane
Wroxton
Banbury
Oxfordshire
OX15 6ED

Auditors

Just Audit & Assurance Ltd
4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

Patrons

W O Bentley MBE (1947-1971) Stanley Sedgwick (1980-1996)

Past Presidents

Woolf Barnato, Stanley Sedgwick, Hugh Harben, Ray Wiltshire, Andrew J Day, James D Medcalf

President

Duncan C Wiltshire

 

Bentley Drivers Club Limited

Directors' Report for the Year Ended 31 December 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors' responsibilities statement

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:
• select suitable accounting policies and apply them consistently;
• make judgements and accounting estimates that are reasonable and prudent;
• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
 

Directors of the company

The directors who held office during the year were as follows:

Mr Brian Rivett (resigned 23 April 2023)

Mr Sean O'Connell (resigned 23 April 2023)

Mr Duncan Charles Wiltshire

Mr David Spencer

Mr Philip William Hine (resigned 20 December 2023)

Mr Philip Brooks

Mr Ian Harris (resigned 17 November 2023)

Mr Andrew Day (appointed 4 December 2023)

Mrs Barbara Haig (appointed 4 December 2023)

Mr Christopher Michael Warner (appointed 4 December 2023)

Dr Diana Davy (appointed 4 December 2023)

Pauline Brown (appointed 23 April 2023 and resigned 8 December 2023)

The following director was appointed after the year end:

Mr Bernard Walker (appointed 11 January 2024)

Disclosure of information to the auditors

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.

Small companies provision statement

 

Bentley Drivers Club Limited

Directors' Report for the Year Ended 31 December 2023

This report has 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.

Auditors

The auditors, Just Audit & Assurance Ltd, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Approved by the Board on 12 March 2024 and signed on its behalf by:

.........................................
Mr Christopher Michael Warner
Director

 

Bentley Drivers Club Limited

Independent Auditor's Report to the Members of Bentley Drivers Club Limited

Opinion

We have audited the financial statements of Bentley Drivers Club Limited (the 'company') for the year ended 31 December 2023, which comprise the Profit and Loss Account, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its loss for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

 

Bentley Drivers Club Limited

Independent Auditor's Report to the Members of Bentley Drivers Club Limited

Opinion on other matter prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

we have not received all the information and explanations we require for our audit; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully on page 2 the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

 

Bentley Drivers Club Limited

Independent Auditor's Report to the Members of Bentley Drivers Club Limited

Our assessment focused on key laws and regulations the company has to comply with and areas of the financial statements we assessed as being more susceptible to misstatement. These key laws and regulations included but were not limited to compliance with the Companies Act 2006, United Kingdom Generally Accepted Accounting Practice and relevant tax legislation.
We are not responsible for preventing irregularities. Our approach to detect irregularities included, but was not limited to, the following:
• obtaining an understanding of the entity’s policies and procedures and how the entity has complied with these, through discussions and sample testing of controls;
• obtaining an understanding of the legal and regulatory framework applicable to the entity and how the entity is complying with that framework;
• an understanding of the entity’s risk assessment process, including the risk of fraud;
• designing our audit procedures to respond to our risk assessment; and
• performing audit work over the risk of management override of controls including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing estimates for bias.

Whilst considering how our audit work addressed the detection of irregularities, we also consider the likelihood of detection based on our approach. Irregularities arising from fraud are inherently more difficult to detect than those arising from error.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Jonathan Russell F.C.A. (Senior Statutory Auditor)
For and on behalf of Just Audit & Assurance Ltd, Statutory Auditor

4 South Bar Street
Banbury
Oxfordshire
OX16 9AA

18 March 2024

 

Bentley Drivers Club Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

627,598

657,355

Cost of sales

 

(323,269)

(325,791)

Gross profit

 

304,329

331,564

Administrative expenses

 

(349,408)

(300,574)

Operating (loss)/profit

 

(45,079)

30,990

Other interest receivable and similar income

 

3,625

551

(Loss)/profit before tax

5

(41,454)

31,541

Tax on (loss)/profit

 

(526)

(158)

(Loss)/profit for the financial year

 

(41,980)

31,383

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Bentley Drivers Club Limited

(Registration number: 00316068)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

7

1,029,792

1,038,690

Investments

8

2

2

 

1,029,794

1,038,692

Current assets

 

Stocks

9

37,395

42,965

Debtors

12

132,667

181,357

Cash at bank and in hand

 

362,161

340,628

 

532,223

564,950

Creditors: Amounts falling due within one year

10

(252,019)

(251,664)

Net current assets

 

280,204

313,286

Net assets

 

1,309,998

1,351,978

Capital and reserves

 

Profit and loss account

1,309,998

1,351,978

Retained funds

 

1,309,998

1,351,978

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.

Approved and authorised by the Board on 12 March 2024 and signed on its behalf by:
 

.........................................
Mr Christopher Michael Warner
Director

 

Bentley Drivers Club Limited

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

1

General information

The company is a company limited by guarantee, incorporated in the United Kingdom.

The address of its registered office is:
W.O.Bentley Memorial Building
Ironstone Lane
Wroxton
Banbury
Oxfordshire
OX15 6ED

2

Accounting policies

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 of financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A “Small Entities” of Financial Reporting Standard 102 “the Financial Reporting Standard applicable in the UK and the Republic of Ireland” and the Companies Act 2006. The financial statements have been prepared under the the historical cost convention.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by Section 399 of the Companies Act 2006 and has not prepared group accounts..

Turnover

Turnover represents income from membership fees and activities, excluding value added tax. Donations are included in the income and expenditure in the year of receipt.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Land is not depreciated although impairment losses are recognised. Depreciation on other assets is charged so as to allocate cost of assets less their residual value over the estimated lives, using the straight line method.

Valuation of Investments

Investments in subsidiaries are measured at cost.

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis.

 

Bentley Drivers Club Limited

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

Pension costs and other 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 in which they relate.

3

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

3,970

3,850


 

4

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

5

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

13,012

11,819

6

Taxation

Note

2023
 £

2022
 £

Corporation tax

Balance b/fwd

 

158

5

Payments made

 

(158)

(5)

 

-

-

Current tax on bank interest receivable and grants received

 

689

158

Total current tax

 

689

158


Factors affecting tax charge for the year
There were no factors that affected the tax charge for the year which has been calculated on the bank interest received and grants recieved at the standard rate of corporation tax in the UK of 19%. (2022 - 19%).

 

Bentley Drivers Club Limited

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

7

Tangible assets

Freehold property
£

Patterns
 
£

Motor vehicles
 £

Office equipment
 £

Cost or valuation

At 1 January 2023

1,614,975

6,335

16,700

163,449

Additions

-

-

(16,700)

4,114

At 31 December 2023

1,614,975

6,335

-

167,563

Depreciation

At 1 January 2023

639,975

6,335

16,700

99,759

Charge for the year

-

-

-

13,012

Eliminated on disposal

-

-

(16,700)

-

At 31 December 2023

639,975

6,335

-

112,771

Carrying amount

At 31 December 2023

975,000

-

-

54,792

At 31 December 2022

975,000

-

-

63,690

Total
£

Cost or valuation

At 1 January 2023

1,801,459

Additions

(12,586)

At 31 December 2023

1,788,873

Depreciation

At 1 January 2023

762,769

Charge for the year

13,012

Eliminated on disposal

(16,700)

At 31 December 2023

759,081

Carrying amount

At 31 December 2023

1,029,792

At 31 December 2022

1,038,690

Freehold property

The figure of £1,614,175 represents the cost to 31 December 2016 of the Wroxton Property. A valuation of the freehold property was carried out at 31 December 2015 by Brown and Co and gave rise to a diminution in value reducing the net book value to £975,000. The Freehold Property was valued in August 2018 at £995,000. No adjustment has been made in the accounts.

 

Bentley Drivers Club Limited

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

8

Investments

2023
£

2022
£

Investments in subsidiaries

2

2

Subsidiaries

£

Fair value

At 1 January 2023

2

At 31 December 2023

2

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Bentley Drivers Club Spares Schemes Limited

United Kingdom

Ordinary shares

100%

100%

Bentley Drivers Club Touring Ltd

United Kingdom

Ordinary shares

100%

100%

9

Stocks

2023
£

2022
£

Shop stock

37,395

42,965

 

Bentley Drivers Club Limited

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

10

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

20,739

13,276

Taxation and social security

13,129

16,467

Other creditors

16,646

10,161

Accruals and deferred income

200,816

211,597

Corporation tax

689

163

252,019

251,664

11

Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation for a period of one year after cesing to be a member.

12

Debtors

Current

2023
£

2022
£

Trade debtors

7,212

5,899

Prepayments

20,362

21,647

Other debtors

105,093

153,811

 

132,667

181,357

Debenture loan to Bentley Drivers Club Spares Schemes Ltd
The Spares Scheme were sold to the Spares Scheme subsidiary , on 1st January 2002, at their net asset value of £171,347 and the consideration was secured by a secured legal debenture provided by the company. Since the acquisition the outstanding consideration has been reduced by £67,391. The debenture has no fixed term for repayment and is not subject to interest.