0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,827 5,827 966 966 4,861 xbrli:pure xbrli:shares iso4217:GBP 12592741 2022-06-01 2023-05-31 12592741 2023-05-31 12592741 2022-05-31 12592741 2021-06-01 2022-05-31 12592741 2022-05-31 12592741 2021-05-31 12592741 core:PlantMachinery 2022-06-01 2023-05-31 12592741 core:MotorVehicles 2022-06-01 2023-05-31 12592741 bus:Director1 2022-06-01 2023-05-31 12592741 core:PlantMachinery 2022-05-31 12592741 core:MotorVehicles 2022-05-31 12592741 core:PlantMachinery 2023-05-31 12592741 core:MotorVehicles 2023-05-31 12592741 core:WithinOneYear 2023-05-31 12592741 core:WithinOneYear 2022-05-31 12592741 core:AfterOneYear 2023-05-31 12592741 core:AfterOneYear 2022-05-31 12592741 core:ShareCapital 2023-05-31 12592741 core:ShareCapital 2022-05-31 12592741 core:RetainedEarningsAccumulatedLosses 2023-05-31 12592741 core:RetainedEarningsAccumulatedLosses 2022-05-31 12592741 core:PlantMachinery 2022-05-31 12592741 core:MotorVehicles 2022-05-31 12592741 bus:SmallEntities 2022-06-01 2023-05-31 12592741 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 12592741 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 12592741 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 12592741 bus:FullAccounts 2022-06-01 2023-05-31 12592741 core:IntangibleAssetsOtherThanGoodwill 2022-06-01 2023-05-31 12592741 core:IntangibleAssetsOtherThanGoodwill 2023-05-31
COMPANY REGISTRATION NUMBER: 12592741
BENCHMARK KITCHENS & BATHROOMS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 May 2023
BENCHMARK KITCHENS & BATHROOMS LIMITED
STATEMENT OF FINANCIAL POSITION
31 May 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
4
4,861
Tangible assets
5
8,766
11,820
---------
---------
13,627
11,820
CURRENT ASSETS
Debtors
6
15,728
3,345
Cash at bank and in hand
78,776
77,619
---------
---------
94,504
80,964
CREDITORS: amounts falling due within one year
7
29,862
28,725
---------
---------
NET CURRENT ASSETS
64,642
52,239
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
78,269
64,059
CREDITORS: amounts falling due after more than one year
8
865
2,897
PROVISIONS
2,350
2,246
---------
---------
NET ASSETS
75,054
58,916
---------
---------
BENCHMARK KITCHENS & BATHROOMS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 May 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
74,954
58,816
---------
---------
SHAREHOLDERS FUNDS
75,054
58,916
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 January 2024 , and are signed on behalf of the board by:
Mr M Fieldhouse
Director
Company registration number: 12592741
BENCHMARK KITCHENS & BATHROOMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MAY 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 42 Brighouse Road, Queensbury, Bradford, BD13 1QE.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Website
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
33% straight line
Motor vehicles
-
25% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised 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 method.
4. INTANGIBLE ASSETS
Intangible asset user defined 1
£
Cost
Additions
5,827
--------
At 31 May 2023
5,827
--------
Amortisation
Charge for the year
966
--------
At 31 May 2023
966
--------
Carrying amount
At 31 May 2023
4,861
--------
At 31 May 2022
--------
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 June 2022 and 31 May 2023
470
18,095
18,565
-----
---------
---------
Depreciation
At 1 June 2022
242
6,503
6,745
Charge for the year
156
2,898
3,054
-----
---------
---------
At 31 May 2023
398
9,401
9,799
-----
---------
---------
Carrying amount
At 31 May 2023
72
8,694
8,766
-----
---------
---------
At 31 May 2022
228
11,592
11,820
-----
---------
---------
6. DEBTORS
2023
2022
£
£
Trade debtors
2,878
2,000
Other debtors
12,850
1,345
---------
--------
15,728
3,345
---------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,352
2,352
Trade creditors
14,457
8,791
Corporation tax
4,636
9,653
Social security and other taxes
6,943
2,945
Other creditors
1,474
4,984
---------
---------
29,862
28,725
---------
---------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
865
2,897
-----
--------
9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The director's loan account was £4,813 overdrawn at 31 May 2023, (31 May 22 - £3,644Cr). All balances are interest free, unsecured and repayable on demand. The balance was repaid after the year end.