Registered number
05461445
Ben & Co Construction Limited
Unaudited Filleted Accounts
31 March 2024
Ben & Co Construction Limited
Registered number: 05461445
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 73,447 43,491
Current assets
Stocks 1,888 1,600
Debtors 4 287,074 291,938
Cash at bank and in hand 50,692 8,791
339,654 302,329
Creditors: amounts falling due within one year 5 (239,553) (211,940)
Net current assets 100,101 90,389
Total assets less current liabilities 173,548 133,880
Creditors: amounts falling due after more than one year 6 (38,023) (33,305)
Provisions for liabilities (18,411) (8,304)
Net assets 117,114 92,271
Capital and reserves
Called up share capital 100 100
Profit and loss account 117,014 92,171
Shareholder's funds 117,114 92,271
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B Iandico
Director
Approved by the board on 14 August 2024
Ben & Co Construction Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 25% reducing balance
Plant and machinery over 5 years
Equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Motor vehicles Plant and machinery etc Equipment Total
£ £ £ £
Cost
At 1 April 2023 47,308 39,669 13,539 100,516
Additions 43,775 1,557 1,477 46,809
Disposals - - (5,060) (5,060)
At 31 March 2024 91,083 41,226 9,956 142,265
Depreciation
At 1 April 2023 14,855 31,656 10,514 57,025
Charge for the year 12,673 2,317 1,698 16,688
On disposals - - (4,895) (4,895)
At 31 March 2024 27,528 33,973 7,317 68,818
Net book value
At 31 March 2024 63,555 7,253 2,639 73,447
At 31 March 2023 32,453 8,013 3,025 43,491
4 Debtors 2024 2023
£ £
Trade debtors 135,727 1,323
Other debtors 151,347 290,615
287,074 291,938
Amounts due after more than one year included above 1,000 1,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,650 10,050
Obligations under finance lease and hire purchase contracts 17,643 5,563
Trade creditors 99,975 155,437
Taxation and social security costs 41,556 11,127
Other creditors 70,729 29,763
239,553 211,940
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,896 22,346
Obligations under finance lease and hire purchase contracts 25,127 10,959
38,023 33,305
7 Other information
Ben & Co Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
Limetree Cottage Church Street
Wistow
Huntingdon
Cambs
PE28 2QE
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