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COMPANY REGISTRATION NUMBER: 14490307
BENYON'S PLUMBING & HEATING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 April 2024
BENYON'S PLUMBING & HEATING LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
30 Apr 24
30 Nov 23
Note
£
£
Fixed assets
Tangible assets
5
13,251
12,944
Current assets
Debtors
6
11,489
12,780
Cash at bank and in hand
32,905
45,288
---------
---------
44,394
58,068
Creditors: amounts falling due within one year
7
29,594
52,371
---------
---------
Net current assets
14,800
5,697
---------
---------
Total assets less current liabilities
28,051
18,641
Provisions
3,236
3,236
---------
---------
Net assets
24,815
15,405
---------
---------
BENYON'S PLUMBING & HEATING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
30 Apr 24
30 Nov 23
Note
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
24,715
15,305
---------
---------
Shareholders funds
24,815
15,405
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 August 2024 , and are signed on behalf of the board by:
T J Benyon
A Benyon
Director
Director
Company registration number: 14490307
BENYON'S PLUMBING & HEATING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 DECEMBER 2023 TO 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 51 White Park Place, Retford, DN22 7ZB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% straight line
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets .
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2023: 3 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 December 2023
6,454
230
7,460
1,362
15,506
Additions
739
957
1,696
--------
-----
--------
--------
---------
At 30 April 2024
6,454
969
7,460
2,319
17,202
--------
-----
--------
--------
---------
Depreciation
At 1 December 2023
766
28
1,690
78
2,562
Charge for the period
403
26
778
182
1,389
--------
-----
--------
--------
---------
At 30 April 2024
1,169
54
2,468
260
3,951
--------
-----
--------
--------
---------
Carrying amount
At 30 April 2024
5,285
915
4,992
2,059
13,251
--------
-----
--------
--------
---------
At 30 November 2023
5,688
202
5,770
1,284
12,944
--------
-----
--------
--------
---------
6. Debtors
30 Apr 24
30 Nov 23
£
£
Trade debtors
10,456
12,260
Other debtors
1,033
520
---------
---------
11,489
12,780
---------
---------
7. Creditors: amounts falling due within one year
30 Apr 24
30 Nov 23
£
£
Trade creditors
201
17,140
Corporation tax
16,125
9,559
Social security and other taxes
5,156
3,004
Other creditors
8,112
22,668
---------
---------
29,594
52,371
---------
---------