2022-12-012023-11-302023-11-30false08556097BENCAS CHEMIST 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BENCAS CHEMIST LIMITED

Registered Number
08556097
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

BENCAS CHEMIST LIMITED
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

AMPOMAH, Benjamin
AMPOMAH, Claire Elizabeth

Registered Address

Marlborough House St. Peter's Close
West Lynn
Kings Lynn
PE34 3JX

Registered Number

08556097 (England and Wales)
BENCAS CHEMIST LIMITED
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets310,50073,500
Tangible assets416,09619,687
26,59693,187
Current assets
Stocks5140,000140,940
Debtors6251,318194,365
Cash at bank and on hand136,56775,220
527,885410,525
Creditors amounts falling due within one year7(410,246)(393,672)
Net current assets (liabilities)117,63916,853
Total assets less current liabilities144,235110,040
Creditors amounts falling due after one year8(21,534)(31,192)
Provisions for liabilities9(1,288)(1,288)
Net assets121,41377,560
Capital and reserves
Called up share capital100100
Profit and loss account121,31377,460
Shareholders' funds121,41377,560
The financial statements were approved and authorised for issue by the Board of Directors on 27 August 2024, and are signed on its behalf by:
AMPOMAH, Benjamin
Director
Registered Company No. 08556097
BENCAS CHEMIST LIMITED
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
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 policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
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.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-15
Fixtures and fittings20-
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20232022
Average number of employees during the year1413
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 22630,000630,000
At 30 November 23630,000630,000
Amortisation and impairment
At 01 December 22556,500556,500
Charge for year63,00063,000
At 30 November 23619,500619,500
Net book value
At 30 November 2310,50010,500
At 30 November 2273,50073,500
4.Tangible fixed assets

Land & buildings

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 2222,28519,93942,224
At 30 November 2322,28519,93942,224
Depreciation and impairment
At 01 December 2213,1239,41422,537
Charge for year1,4862,1053,591
At 30 November 2314,60911,51926,128
Net book value
At 30 November 237,6768,42016,096
At 30 November 229,16210,52519,687
5.Stocks

2023

2022

££
Raw materials and consumables140,000140,940
Total140,000140,940
6.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables201,510178,185
Other debtors49,80816,180
Total251,318194,365
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables196,224183,683
Bank borrowings and overdrafts10,64810,648
Taxation and social security1,0052,597
Other creditors202,369195,094
Accrued liabilities and deferred income-1,650
Total410,246393,672
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.
8.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts21,53431,192
Total21,53431,192
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,2881,288
Total1,2881,288
10.Related party transactions
At the yearend, the company owed £86,380 (2022: £86,150) to A.B. Chemist Ltd. Ben Amp Holdings Limited owed £34,985 (2022: CR £23,340) to Bencas Chemist Limited. The companies are related as Mr. B Ampomah is a director in these companies.