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REGISTERED NUMBER: 05896734 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

BENETS LIMITED

BENETS LIMITED (REGISTERED NUMBER: 05896734)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BENETS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: G H Griffiths
J L Griffiths





SECRETARY: J L Griffiths





REGISTERED OFFICE: Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL





REGISTERED NUMBER: 05896734 (England and Wales)





ACCOUNTANTS: Northfield Management Services Limited
Cart Lodge
Harps Farm
Bedlars Green
Great Hallingbury
Hertfordshire
CM22 7TL

BENETS LIMITED (REGISTERED NUMBER: 05896734)

BALANCE SHEET
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,327 17,326

CURRENT ASSETS
Stocks 15,436 11,479
Debtors 5 6,046 6,718
Cash at bank and in hand 79,393 90,156
100,875 108,353
CREDITORS
Amounts falling due within one year 6 67,774 57,174
NET CURRENT ASSETS 33,101 51,179
TOTAL ASSETS LESS CURRENT
LIABILITIES

71,428

68,505

CREDITORS
Amounts falling due after more than one
year

7

(23,060

)

(44,434

)

PROVISIONS FOR LIABILITIES (8,714 ) (2,323 )
NET ASSETS 39,654 21,748

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 39,554 21,648
SHAREHOLDERS' FUNDS 39,654 21,748

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

BENETS LIMITED (REGISTERED NUMBER: 05896734)

BALANCE SHEET - continued
31 December 2023


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 Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





G H Griffiths - Director


BENETS LIMITED (REGISTERED NUMBER: 05896734)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Benets 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 - going concern
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.

As with most businesses we have been impacted by the Coronavirus (Covid 19). This has had an impact on our operations, customers, suppliers and staff. We have, where appropriate, utilised the grants and benefits available from the Government and are taking all steps we can to protect the future of our business. Although the total impact is still uncertain the directors believe that it is appropriate to prepare thc accounts on a going concern basis.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the accounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of the estimation means that that the actual outcomes could differ from those estimates.

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.
Short leasehold - Over period of lease
Improvements to property - Over period of lease
Catering equipment - 25% on reducing balance
Fixtures and fittings - 20% /33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

BENETS LIMITED (REGISTERED NUMBER: 05896734)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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, loans from banks and other third parties, loans to related parties and investments in non-portable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Creditors
Basic short-term financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

BENETS LIMITED (REGISTERED NUMBER: 05896734)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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 13 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to Catering and
leasehold property equipment fittings Totals
£    £    £    £    £   
COST
At 1 January 2023 49,168 3,872 53,763 13,840 120,643
Additions - - 26,960 - 26,960
At 31 December 2023 49,168 3,872 80,723 13,840 147,603
DEPRECIATION
At 1 January 2023 44,847 3,092 42,538 12,840 103,317
Charge for year 1,368 260 3,831 500 5,959
At 31 December 2023 46,215 3,352 46,369 13,340 109,276
NET BOOK VALUE
At 31 December 2023 2,953 520 34,354 500 38,327
At 31 December 2022 4,321 780 11,225 1,000 17,326

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors (529 ) (529 )
Other debtors - 50
Prepayments and accrued income 6,575 7,197
6,046 6,718

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,200 10,857
Other loans 9,870 9,630
Trade creditors 25,653 13,416
Tax 819 14,098
Social security and other taxes 931 932
VAT 582 428
Directors' current accounts 28 965
Accrued expenses 18,691 6,848
67,774 57,174

BENETS LIMITED (REGISTERED NUMBER: 05896734)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2 to 5 years 7,171 18,435
Other loans - 2 to 5 years 15,889 25,999
23,060 44,434

8. SECURED DEBTS

The bank loan and overdraft are secured by a personal guarantee of the directors.
Other loans are secured by the Government.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. OTHER FINANCIAL COMMITMENTS

At 31 December 2022 the company had an annual commitment under non-cancellable operating lease in respect of land and buildings expiring in over five years of £26,500 (2021: £26,500).