Benvue Developments Limited Filleted Accounts Cover
Benvue Developments Limited
Company No. 08118348
Information for Filing with The Registrar
30 June 2023
Benvue Developments Limited Directors Report Registrar
The Director presents his report and the accounts for the year ended 30 June 2023.
Principal activities
The principal activity of the company during the year under review was property management and development .
Director
The Director who served at any time during the year was as follows:
Ashraf Atif
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Ashraf Atif
Director
22 December 2023
Benvue Developments Limited Balance Sheet Registrar
at
30 June 2023
Company No.
08118348
Notes
2023
2022
£
£
Fixed assets
Investment property
4
500,000500,000
500,000500,000
Current assets
Debtors
5
42,72939,645
Cash at bank and in hand
14,48117,806
57,21057,451
Creditors: Amount falling due within one year
6
(475,846)
(488,557)
Net current liabilities
(418,636)
(431,106)
Total assets less current liabilities
81,36468,894
Net assets
81,36468,894
Capital and reserves
Called up share capital
100100
Revaluation reserve
8
18,27818,278
Profit and loss account
8
62,98650,516
Total equity
81,36468,894
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 22 December 2023
And signed on its behalf by:
Ashraf Atif
Director
22 December 2023
Benvue Developments Limited Notes to the Accounts Registrar
for the year ended 30 June 2023
1
General information
Its registered number is: 08118348
Its registered office is:
Unit C17
Kestrel Business Centre
Private Road 2
Colwic, Nottingham
NG4 2JR
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
Going concern
The financial statements have been prepared on the going concern basis. The director is not aware of any material threats to the ability of the company to continue as a going concern for the foreseeable future.
2
Accounting policies
Turnover
Turnover is the fair value of rent receivable for the period.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Motor vehicles
25% Reducing balance
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Financial instruments
Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances, are recognised and carried forward at transaction price. Financial assets are derecognised when:
(a) The contractual rights to the cash flows from the asset expire or are settled;
(b) Substantially all the risks and rewards of the ownership of the asset are transferred to another party; or
(c) Control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities
Basic financial liabilities, including trade and other payables, and loans from third parties are initially recognised and carried forward at transaction price.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The company has only financial assets and financial liabilities of a kind that qualify as a basic financial instruments. Basic financial instruments are recognised initially at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
11
4
Investment property
Freehold Investment Property
£
Valuation
At 1 July 2022
500,000
At 30 June 2023
500,000
The company's freehold investment property was revalued by the director, on an existing use basis on 30 June 2023
5
Debtors
2023
2022
£
£
Other debtors
41,67938,245
Prepayments and accrued income
1,0501,400
42,72939,645
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
8,639
9,207
Loans from directors
464,141476,548
Accruals and deferred income
3,0662,802
475,846488,557
7
Share Capital
Share capital consists of 100 Ordinary Shares of £1 each, which are fully paid.
8
Reserves
Investment property fair value reserve
Total other reserves
£
£
At 1 July 2021
18,278
18,278
At 30 June 2022 and 1 July 2022
18,278
18,278
At 30 June 2023
18,27818,278
Investment property fair value reserve - reflects the revaluation of property other than investment properties.
Profit and loss account - includes all current and prior period retained profits and losses.
9
Dividends
2023
2022
£
£
Dividends for the period:
Dividends paid in the period
30,000
30,000
30,000
30,000
Dividends by type:
Non-equity preference dividends
--
Equity dividends
30,00030,000
30,000
30,000
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