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LUTON BENNETT LIMITED

Registered Number
07091379
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

LUTON BENNETT LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

SUMMERS, Kim
WOOLF, Toby

Registered Address

Whitefriars Business Centre 2nd Floor, Whitefriars
Lewins Mead
Bristol
BS1 2NT

Registered Number

07091379 (England and Wales)
LUTON BENNETT LIMITED
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets373946
Tangible assets44,4015,060
4,4746,006
Current assets
Debtors42,18353,016
Cash at bank and on hand1,162,6211,308,840
1,204,8041,361,856
Creditors amounts falling due within one year5(90,750)(96,298)
Net current assets (liabilities)1,114,0541,265,558
Total assets less current liabilities1,118,5281,271,564
Provisions for liabilities6(1,100)(1,265)
Net assets1,117,4281,270,299
Capital and reserves
Called up share capital22
Profit and loss account1,117,4261,270,297
Shareholders' funds1,117,4281,270,299
The financial statements were approved and authorised for issue by the Board of Directors on 22 August 2024, and are signed on its behalf by:
SUMMERS, Kim
Director
WOOLF, Toby
Director

Registered Company No. 07091379
LUTON BENNETT LIMITED
Notes to the Financial Statements
for the year ended 31 December 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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Website costs 20% straight line
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 (%)
Office Equipment25
2.Average number of employees

20232022
Average number of employees during the year45
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 234,3654,365
At 31 December 234,3654,365
Amortisation and impairment
At 01 January 233,4193,419
Charge for year873873
At 31 December 234,2924,292
Net book value
At 31 December 237373
At 31 December 22946946
4.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 2317,78917,789
Additions662662
At 31 December 2318,45118,451
Depreciation and impairment
At 01 January 2312,72912,729
Charge for year1,3211,321
At 31 December 2314,05014,050
Net book value
At 31 December 234,4014,401
At 31 December 225,0605,060
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables5,6707,120
Taxation and social security57,76473,631
Other creditors640622
Accrued liabilities and deferred income26,67614,925
Total90,75096,298
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.
6.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)1,1001,265
Total1,1001,265