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Company No: 00754104 (England and Wales)

MIKE BENNETT LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

MIKE BENNETT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

MIKE BENNETT LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
MIKE BENNETT LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTORS S G C Bennett
G R Bennett
SECRETARY G R Bennett
REGISTERED OFFICE 27 Clinton Road
Redruth
TR15 2LW
England
United Kingdom
COMPANY NUMBER 00754104 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
MIKE BENNETT LIMITED

BALANCE SHEET

As at 31 December 2023
MIKE BENNETT LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 24,200 24,200
24,200 24,200
Creditors: amounts falling due within one year 4 ( 16,671) ( 16,671)
Net current liabilities (16,671) (16,671)
Total assets less current liabilities 7,529 7,529
Net assets 7,529 7,529
Capital and reserves
Called-up share capital 5 242 242
Capital redemption reserve 60 60
Profit and loss account 7,227 7,227
Total shareholders' funds 7,529 7,529

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Mike Bennett Limited (registered number: 00754104) were approved and authorised for issue by the Board of Directors on 11 September 2024. They were signed on its behalf by:

G R Bennett
Director
MIKE BENNETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
MIKE BENNETT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Mike Bennett Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 27 Clinton Road, Redruth, TR15 2LW, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 January 2023 24,200
At 31 December 2023 24,200
Carrying value at 31 December 2023 24,200
Carrying value at 31 December 2022 24,200

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
31.12.2023
Ownership
31.12.2022
Mayne's Garage Limited 27 Clinton Road, Redruth, Cornwall, TR15 2LW Motor trader and the provision of associated consultancy services Deferred and Ordinary shares 100.00% 100.00%

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 16,671 16,671

5. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
40 Ordinary shares of £ 1.00 each 40 40
200 Class A ordinary shares of £ 1.00 each 200 200
2 Class B ordinary shares of £ 1.00 each 2 2
242 242

6. Related party transactions

Other related party transactions

2023 2022
£ £
Mayne's Garage Limited - loan account 16,671 16,671

Mayne's Garage Limited
Subsidiary company
Dividends declared in the year payable from Mayne's Garage Limited total £nil (2022 - £60,000). At the balance sheet date the amount due to Mayne's Garage Limited was £16,671 (2022 - £16,671).