Registered number
00710911
Benton Car Sales Limited
Unaudited Filleted Accounts
31 December 2023
Benton Car Sales Limited
Registered number: 00710911
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 685,755 685,888
Current assets
Debtors 4 1,666 1,666
Investments held as current assets 5 68,425 65,075
Cash at bank and in hand 10,743 36,489
80,834 103,230
Creditors: amounts falling due within one year 6 (37,432) (96,447)
Net current assets 43,402 6,783
Total assets less current liabilities 729,157 692,671
Creditors: amounts falling due after more than one year 7 (3,150) (4,950)
Provisions for liabilities (60,471) (60,497)
Net assets 665,536 627,224
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 655,536 617,224
Shareholders' funds 665,536 627,224
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rakesh Kumar Kohli
Director
Approved by the board on 23 September 2024
Benton Car Sales Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
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
Turnover represents the value, net of value added tax and discounts, of rent received from the
letting of commercial properties.
Tangible fixed assets
Tangible fixed assets other than investment properties are measured at cost less accumulative
depreciation and any accumulative impairment losses. Depreciation is provided on all tangible
fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated
residual value, of each asset over its expected useful life, as follows:
Plant and machinery 15% reducing balance
Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Investments
Investments in shares are included at fair value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Investment Property Plant and machinery etc Total
£ £ £
Cost or valuation
At 1 January 2023 685,000 11,959 696,959
At 31 December 2023 685,000 11,959 696,959
Depreciation
At 1 January 2023 - 11,071 11,071
Charge for the year - 133 133
At 31 December 2023 - 11,204 11,204
Net book value
At 31 December 2023 685,000 755 685,755
At 31 December 2022 685,000 888 685,888
Investment Property: 2023 2022
£ £
Historical cost 325,268 325,268
Cumulative depreciation based on historical cost - -
325,268 325,268
The investment properties were valued at 31 December 2022 by the directors.
4 Debtors 2023 2022
£ £
Other debtors 1,666 1,666
5 Investments held as current assets 2023 2022
£ £
Fair value
Listed investments 68,425 65,075
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments 7,163 (9,012)
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,800 1,800
Trade creditors 2,559 2,511
Taxation and social security costs 6,625 6,278
Other creditors 26,448 85,858
37,432 96,447
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 3,150 4,950
8 Other information
Benton Car Sales Limited is a private company limited by shares and incorporated in England. Its registered office is:
Aston House
Redburn Road
Newcastle upon Tyne
NE5 1NB
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