REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
BENJY PROPERTIES LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
BENJY PROPERTIES LIMITED |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Statement of Income and Retained Earnings | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
BENJY PROPERTIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Dean House |
94 Whiteladies Road |
Clifton |
Bristol |
BS8 2QX |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2023 |
The directors present their report with the financial statements of the company for the year ended 31 March 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of property investment and letting. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
STATEMENT OF INCOME AND RETAINED EARNINGS |
FOR THE YEAR ENDED 31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
TURNOVER |
Cost of sales | ( |
) | ( |
) |
GROSS PROFIT |
Administrative expenses | ( |
) | ( |
) |
7,850 | 8,657 |
Other operating income |
OPERATING PROFIT | 4 |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | ( |
) | ( |
) |
PROFIT FOR THE FINANCIAL YEAR |
Retained earnings at beginning of year |
RETAINED EARNINGS AT END OF YEAR |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
BALANCE SHEET |
31 MARCH 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Benjy Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The ability to continue trading is dependent on the willingness of the directors to continue to extend finance to the company which they are both willing and able to do and have indicated that they will continue to do so for a period of at least 12 months from the date of signature of these financial statements. |
Turnover |
Turnover comprises rent receivable and is measured at the fair value of the consideration receivable. |
Tangible fixed assets |
Investment properties are measured at fair value. Gains and losses arising from changes in fair value are included in the Income Statement in the period in which they occur. Deferred tax is recognised on these movements. |
Depreciation of plant and machinery is provided at 20% of cost to write off each asset over its estimated useful life. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
Short term debtors are measured at transaction price less any impairment. |
Short term creditors are measured at transaction price. |
Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours. |
Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
31.3.23 | 31.3.22 |
£ | £ |
Depreciation - owned assets |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Investment | machinery |
property | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2022 |
Additions |
Revaluations |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
Investment property was revalued by the directors on the basis of open market value in existing use at 31 March 2023. |
The historical cost of the investment property is £165,075. |
BENJY PROPERTIES LIMITED (REGISTERED NUMBER: 12698022) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Cost or valuation at 31 March 2023 is represented by: |
Plant and |
Investment | machinery |
property | etc | Totals |
£ | £ | £ |
Valuation in 2023 | 189,000 | - | 189,000 |
Cost | - | 3,289 | 3,289 |
189,000 | 3,289 | 192,289 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Corporation tax |
Directors' current accounts |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
31.3.23 | 31.3.22 |
£ | £ |
Deferred tax |
Deferred |
tax |
£ |
Balance at 1 April 2022 |
Provided during year |
Balance at 31 March 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.23 | 31.3.22 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |