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REGISTERED NUMBER: 01319734 (England and Wales)
















Financial Statements for the Year Ended 31 August 2023

for


THOMAS - BENACCI LIMITED



THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Contents of the Financial Statements

for the Year Ended 31 August 2023











Page




Company Information  

1




Balance Sheet  

2




Notes to the Financial Statements  

4





THOMAS - BENACCI LIMITED



Company Information

for the Year Ended 31 August 2023









DIRECTORS:

Mrs I Benacci


Mrs M S Carminati


Mrs L M Russo







REGISTERED OFFICE:

Unit 12


Bessemer Park


250 Milkwood Road


London


SE24 0HG







REGISTERED NUMBER:

01319734 (England and Wales)








THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Balance Sheet

31 August 2023



31.8.23

31.8.22



Notes

£   

£   

£   

£   


FIXED ASSETS

Tangible assets

4

1,171,922


1,153,479



Investment property

5

450,000


450,000



1,621,922


1,603,479




CURRENT ASSETS

Stocks

6

727,342


696,533



Debtors

7

423,938


417,784



Cash at bank and in hand

102,050


65,309



1,253,330


1,179,626



CREDITORS

Amounts falling due within one year

8

164,245


135,367



NET CURRENT ASSETS

1,089,085


1,044,259



TOTAL ASSETS LESS CURRENT

LIABILITIES

2,711,007


2,647,738




CREDITORS

Amounts falling due after more than one

year

9

(59,664

)

(30,671

)



PROVISIONS FOR LIABILITIES

12

(16,212

)

(16,212

)


NET ASSETS

2,635,131


2,600,855




CAPITAL AND RESERVES

Called up share capital

13

100


100



Non-distributable reserve

14

701,121


701,121



Retained earnings

14

1,933,910


1,899,634



SHAREHOLDERS' FUNDS

2,635,131


2,600,855




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


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.



THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Balance Sheet - continued

31 August 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 15 August 2024 and were signed on its behalf by:






Mrs I Benacci - Director




THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Notes to the Financial Statements

for the Year Ended 31 August 2023



1.

STATUTORY INFORMATION



Thomas - Benacci 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 as modified by the revaluation of certain assets.    



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.  


Long leasehold

-

1% on cost


Fixtures and fittings

-

25% on reducing balance


Motor vehicles

-

25% on reducing balance


Computer equipment

-

33% on reducing balance



Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

In accordance with the provisions of section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable i the UK and Republic of Ireland", investment properties are included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.


Stocks

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


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.



THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Notes to the Financial Statements - continued

for the Year Ended 31 August 2023



2.

ACCOUNTING POLICIES - continued


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.


Trade debtors


Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors.  Bad debts are written off when identified.  Specific provision are made against debts whose recovery is considered doubtful.



Provisions and accruals


Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated.  Provisions are not recognised for future operating losses.


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 7 (2022 - 7 ) .


4.

TANGIBLE FIXED ASSETS


Fixtures



Long


and


Motor


Computer



leasehold


fittings


vehicles


equipment


Totals

£   

£   

£   

£   

£   



COST OR VALUATION


At 1 September 2022

1,200,000


14,006


39,320


15,970


1,269,296




Additions

-


-


36,913


-


36,913




At 31 August 2023

1,200,000


14,006


76,233


15,970


1,306,209




DEPRECIATION


At 1 September 2022

60,000


14,006


26,128


15,683


115,817




Charge for year

12,000


-


6,374


96


18,470




At 31 August 2023

72,000


14,006


32,502


15,779


134,287




NET BOOK VALUE


At 31 August 2023

1,128,000


-


43,731


191


1,171,922




At 31 August 2022

1,140,000


-


13,192


287


1,153,479





THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Notes to the Financial Statements - continued

for the Year Ended 31 August 2023



4.

TANGIBLE FIXED ASSETS - continued


In the opinion of the directors, the market value of the properties at the balance sheet date was £1,140,000 on an open market basis.


Cost or valuation at 31 August 2023 is represented by:



Fixtures



Long


and


Motor


Computer



leasehold


fittings


vehicles


equipment


Totals

£   

£   

£   

£   

£   



Valuation in 2001

114,600


-


-


-


114,600




Valuation in 2017

396,135


-


-


-


396,135




Cost

689,265


14,006


76,233


15,970


795,474



1,200,000


14,006


76,233


15,970


1,306,209




5.

INVESTMENT PROPERTY


Total

£   



FAIR VALUE


At 1 September 2022


and 31 August 2023

450,000




NET BOOK VALUE


At 31 August 2023

450,000




At 31 August 2022

450,000




In the opinion of the directors, the market value of the property at the balance sheet date was £450,000 o an open market basis.


Fair value at 31 August 2023 is represented by:

£   



Valuation in 2017

206,598




Cost

243,402



450,000




6.

STOCKS


31.8.23


31.8.22

£   

£   



Stocks

727,342


696,533




7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.8.23


31.8.22

£   

£   



Trade debtors

253,977


259,749




Prepayments and accrued income

169,961


158,035



423,938


417,784





THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Notes to the Financial Statements - continued

for the Year Ended 31 August 2023



8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR



31.8.23


31.8.22

£   

£   



Bank loans and overdrafts (see note 10)

-


26,615




Other loans (see note 10)

5,702


5,147




Hire purchase contracts

7,780


3,125




Trade creditors

65,553


31,252




VAT

30,275


28,502




Other creditors

31,978


18,106




PAYE control

3,726


2,186




Pension liability

731


407




Directors' current accounts

15,000


16,527




Accrued expenses

3,500


3,500



164,245


135,367




9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR



31.8.23


31.8.22

£   

£   



Bank loans (see note 10)

31,137


30,671




Hire purchase contracts

28,527


-



59,664


30,671




10.

LOANS



An analysis of the maturity of loans is given below:



31.8.23


31.8.22

£   

£   



Amounts falling due within one year or on demand:


Bank overdrafts

-


18,282




Bank loans

-


8,333




Other loans

5,702


5,147



5,702


31,762





Amounts falling due between one and two years:


Bank loans - 1-2 years

31,137


8,333





Amounts falling due between two and five years:


Bank loans - 2-5 years

-


22,338





THOMAS - BENACCI LIMITED (REGISTERED NUMBER: 01319734)



Notes to the Financial Statements - continued

for the Year Ended 31 August 2023



11.

SECURED DEBTS



The following secured debts are included within creditors:



31.8.23


31.8.22

£   

£   



Bank overdraft

-


18,282




Bank loans

31,137


39,004



31,137


57,286





National Westminster Bank Plc holds fixed and floating charges over the undertaking and all property and assets present and future, including goodwill, uncalled capital, buildings, fixtures, fixed plant and machinery.


12.

PROVISIONS FOR LIABILITIES


31.8.23


31.8.22

£   

£   



Deferred tax

16,212


16,212





Deferred



tax


£   



Balance at 1 September 2022

16,212




Balance at 31 August 2023

16,212




13.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

31.8.23


31.8.22


value:

£   

£   



100

Ordinary

£1

100


100




14.

RESERVES


Retained


Non-distributable



earnings


reserve


Totals

£   

£   

£   




At 1 September 2022

1,899,634


701,121


2,600,755




Profit for the year

34,276


34,276




At 31 August 2023

1,933,910


701,121


2,635,031