Silverfin false false 30/09/2023 01/10/2022 30/09/2023 Mrs A Bennett 22/02/2022 Mr P Bennett 14/07/2023 Mr D Bennett 26/09/2014 22 April 2024 The principal activity of the Company during the financial year was that of the retail of technology equipment. 09237576 2023-09-30 09237576 bus:Director1 2023-09-30 09237576 bus:Director2 2023-09-30 09237576 bus:Director3 2023-09-30 09237576 2022-09-30 09237576 core:CurrentFinancialInstruments 2023-09-30 09237576 core:CurrentFinancialInstruments 2022-09-30 09237576 core:Non-currentFinancialInstruments 2023-09-30 09237576 core:Non-currentFinancialInstruments 2022-09-30 09237576 core:ShareCapital 2023-09-30 09237576 core:ShareCapital 2022-09-30 09237576 core:RetainedEarningsAccumulatedLosses 2023-09-30 09237576 core:RetainedEarningsAccumulatedLosses 2022-09-30 09237576 core:PlantMachinery 2022-09-30 09237576 core:ComputerEquipment 2022-09-30 09237576 core:PlantMachinery 2023-09-30 09237576 core:ComputerEquipment 2023-09-30 09237576 bus:OrdinaryShareClass1 2023-09-30 09237576 2022-10-01 2023-09-30 09237576 bus:FilletedAccounts 2022-10-01 2023-09-30 09237576 bus:SmallEntities 2022-10-01 2023-09-30 09237576 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 09237576 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 09237576 bus:Director1 2022-10-01 2023-09-30 09237576 bus:Director2 2022-10-01 2023-09-30 09237576 bus:Director3 2022-10-01 2023-09-30 09237576 core:PlantMachinery 2022-10-01 2023-09-30 09237576 core:ComputerEquipment core:TopRangeValue 2022-10-01 2023-09-30 09237576 2021-10-01 2022-09-30 09237576 core:ComputerEquipment 2022-10-01 2023-09-30 09237576 core:CurrentFinancialInstruments 2022-10-01 2023-09-30 09237576 core:Non-currentFinancialInstruments 2022-10-01 2023-09-30 09237576 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 09237576 bus:OrdinaryShareClass1 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09237576 (England and Wales)

BENTEC LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2023
Pages for filing with the registrar

BENTEC LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2023

Contents

BENTEC LIMITED

BALANCE SHEET

As at 30 September 2023
BENTEC LIMITED

BALANCE SHEET (continued)

As at 30 September 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 25,300 17,522
25,300 17,522
Current assets
Debtors 4 79,525 421,976
Cash at bank and in hand 170,477 125,891
250,002 547,867
Creditors: amounts falling due within one year 5 ( 242,819) ( 465,336)
Net current assets 7,183 82,531
Total assets less current liabilities 32,483 100,053
Creditors: amounts falling due after more than one year 6 ( 16,667) ( 26,619)
Provision for liabilities 0 ( 4,381)
Net assets 15,816 69,053
Capital and reserves
Called-up share capital 7 4 4
Profit and loss account 15,812 69,049
Total shareholders' funds 15,816 69,053

For the financial year ending 30 September 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 Bentec Limited (registered number: 09237576) were approved and authorised for issue by the Board of Directors on 22 April 2024. They were signed on its behalf by:

Mr D Bennett
Director
Mrs A Bennett
Director
Mr P Bennett
Director
BENTEC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2023
BENTEC LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

Bentec 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 Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3GW. The principal place of business is 12 Huntingdon Gardens, Whitleigh, Plymouth, Devon, PL5 4AF.

The principal place of business is 12 Huntington Gardens, Whitleigh, Plymouth, Devon, PL5 4AF.

The financial statements have been prepared under the historical cost convention, modified to include 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 Balance Sheet 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.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Revenue from services is recognised as they are delivered.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 6 6

3. Tangible assets

Plant and machinery Computer equipment Total
£ £ £
Cost
At 01 October 2022 40,143 0 40,143
Additions 1,630 12,781 14,411
At 30 September 2023 41,773 12,781 54,554
Accumulated depreciation
At 01 October 2022 22,621 0 22,621
Charge for the financial year 4,497 2,136 6,633
At 30 September 2023 27,118 2,136 29,254
Net book value
At 30 September 2023 14,655 10,645 25,300
At 30 September 2022 17,522 0 17,522

4. Debtors

2023 2022
£ £
Trade debtors 58,708 382,925
Deferred tax asset 8,785 0
Other debtors 12,032 39,051
79,525 421,976

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 10,000 10,048
Trade creditors 57,244 79,386
Taxation and social security 31,182 12,305
Obligations under finance leases and hire purchase contracts 0 10,775
Other creditors 144,393 352,822
242,819 465,336

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 16,667 26,619

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
4 Ordinary shares of £ 1.00 each 4 4

8. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 21,711 0