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Company No: 12980307 (England and Wales)

J B BENTLEY HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

J B BENTLEY HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

J B BENTLEY HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 October 2023
J B BENTLEY HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 68,279 71,280
Investment property 4 800,000 800,000
868,279 871,280
Current assets
Debtors 5 38,583 30,758
Cash at bank and in hand 7,179 27,009
45,762 57,767
Creditors: amounts falling due within one year 6 ( 744,447) ( 770,684)
Net current liabilities (698,685) (712,917)
Total assets less current liabilities 169,594 158,363
Provision for liabilities ( 29,599) ( 29,312)
Net assets 139,995 129,051
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 139,895 128,951
Total shareholders' funds 139,995 129,051

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J B Bentley Holdings Limited (registered number: 12980307) were approved and authorised for issue by the Director on 12 March 2024. They were signed on its behalf by:

B M Bentley
Director
J B BENTLEY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
J B BENTLEY HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J B Bentley Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is 28 Berry Hill Road, Cirencester, GL7 2HE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 25 years straight line
Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 November 2022 75,031 75,031
At 31 October 2023 75,031 75,031
Accumulated depreciation
At 01 November 2022 3,751 3,751
Charge for the financial year 3,001 3,001
At 31 October 2023 6,752 6,752
Net book value
At 31 October 2023 68,279 68,279
At 31 October 2022 71,280 71,280

4. Investment property

Investment property
£
Valuation
As at 01 November 2022 800,000
As at 31 October 2023 800,000

Valuation

The valuation of the unlisted investments was reassessed by the director as at the 31 October 2023, with reference to market value.

5. Debtors

2023 2022
£ £
Amounts owed by directors 30,178 0
Prepayments and accrued income 8,405 9,751
VAT recoverable 0 21,007
38,583 30,758

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,122 10,439
Accruals and deferred income 4,022 6,699
Taxation and social security 5,389 9,820
Other creditors 733,914 743,726
744,447 770,684

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
8 A Ordinary shares of £ 0.001 each 0.01 0.01
8 B Ordinary shares of £ 0.001 each 0.01 0.01
49,992 C Ordinary shares of £ 0.001 each 49.99 49.99
49,992 D Ordinary shares of £ 0.001 each 49.99 49.99
100.00 100.00

8. Related party transactions

During the year the company loaned £30,000 (2022: £nil) to the director, of which £nil (2022: £nil) was repaid. At the balance sheet date £30,178 (2022 £nil) was owed to the company by the director and is included in current assets. Interest has been charged at 2.25% and is repayable on 31 July 2024.

The company has loans outstanding from certain shareholders of £733,914 (2022: £740,646) included within other creditors at the balance sheet date. The loans bore interest at 8% and are repayable on demand.

9. Profit and loss reserves

Included within profit and loss reserves are non-distributable profits of £86,304 relating to the £100,000 increase in valuation of the investment property less the deferred tax thereon.