Company No:
Contents
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investment property | 4 |
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868,279 | 871,280 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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45,762 | 57,767 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current liabilities | (698,685) | (712,917) | ||
Total assets less current liabilities | 169,594 | 158,363 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of J B Bentley Holdings Limited (registered number:
B M Bentley
Director |
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.
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 £.
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 is recognised when the significant risks and rewards are considered to have been transferred to the customer.
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.
Plant and machinery |
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The fair value is determined annually by the directors, on an open market value for existing use basis.
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.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Plant and machinery | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2022 |
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At 31 October 2023 |
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Accumulated depreciation | |||
At 01 November 2022 |
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Charge for the financial year |
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At 31 October 2023 |
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Net book value | |||
At 31 October 2023 |
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At 31 October 2022 |
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Investment property | |
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Valuation | |
As at 01 November 2022 |
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As at 31 October 2023 |
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Valuation
The valuation of the unlisted investments was reassessed by the director as at the 31 October 2023, with reference to market value.
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£ | £ | ||
Amounts owed by directors |
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Prepayments and accrued income |
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VAT recoverable |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Accruals and deferred income |
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Taxation and social security |
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Other creditors |
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£ | £ | ||
Allotted, called-up and fully-paid | |||
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100.00 | 100.00 |
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.
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.