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REGISTERED NUMBER: 02643271 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

BENFIELD ELECTRIC EUROPE LIMITED

BENFIELD ELECTRIC EUROPE LIMITED (REGISTERED NUMBER: 02643271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BENFIELD ELECTRIC EUROPE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: R Frickel



SECRETARY: D McLaughlin



REGISTERED OFFICE: F6-F/F-13
Fieldhouse Ind Estate
Rochdale
Lancashire
OL12 0AA



REGISTERED NUMBER: 02643271 (England and Wales)



SENIOR STATUTORY AUDITOR: Patricia Richards BA FCA DChA



AUDITORS: Wyatt Morris Golland Ltd
Statutory Auditors
Park House
200 Drake Street
Rochdale
Lancashire
OL16 1PJ

BENFIELD ELECTRIC EUROPE LIMITED (REGISTERED NUMBER: 02643271)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Debtors 5 193,033 173,323
Cash at bank 97,417 164,633
290,450 337,956
CREDITORS
Amounts falling due within one year 6 14,408 17,013
NET CURRENT ASSETS 276,042 320,943
TOTAL ASSETS LESS CURRENT
LIABILITIES

276,042

320,943

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 276,040 320,941
SHAREHOLDERS' FUNDS 276,042 320,943

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





R Frickel - Director


BENFIELD ELECTRIC EUROPE LIMITED (REGISTERED NUMBER: 02643271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Benfield Electric Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Office equipment is written off in the year the expenditure is incurred. This is not in accordance with standard accounting practice which requires the cost to be capitalised and written off over its expected useful life. During the year there were no major purchases of office equipment.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

BENFIELD ELECTRIC EUROPE LIMITED (REGISTERED NUMBER: 02643271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 November 2022
and 31 October 2023 10,271
DEPRECIATION
At 1 November 2022
and 31 October 2023 10,271
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,203 13,045
Amounts owed by group undertakings 160,058 156,422
Tax - 1,800
VAT 1,158 2,056
Prepayments 21,614 -
193,033 173,323

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 4,272 7,804
Social security and other taxes 3,835 3,147
Accrued expenses 6,301 6,062
14,408 17,013

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion on financial statements
The audit evidence available to us was limited because the majority of the finance and accounting function is undertaken in the United States at the offices of the parent company.

The scope of our audit work was limited as it was not practical for us to visit the clients overseas premises to observe the systems in operation and as a result we have been unable to obtain sufficient appropriate audit evidence.

Matters required to report by exception
In respect solely of the limitation of our work referred to above:

we have not obtained all the information and explanations that we considered necessary for the purpose of our audit; and

we were unable to determine whether adequate accounting records have been kept.

we were unable to determine whether adequate returns for the purposes of our audit have been made from the United States

Patricia Richards BA FCA DChA (Senior Statutory Auditor)
for and on behalf of Wyatt, Morris, Golland Ltd

BENFIELD ELECTRIC EUROPE LIMITED (REGISTERED NUMBER: 02643271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is H H Benfield Electric Supply Company Inc.