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REGISTERED NUMBER: 07713840 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

HEY Bendalls Limited

HEY Bendalls Limited (Registered number: 07713840)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


HEY Bendalls Limited (Registered number: 07713840)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 622 1,053
622 1,053

Current assets
Debtors 7 103,513 78,385
Cash at bank - 1,520
103,513 79,905
Creditors
Amounts falling due within one year 8 (72,927 ) (52,055 )
Net current assets 30,586 27,850
Total assets less current liabilities 31,208 28,903

Creditors
Amounts falling due after more than one
year

9

(15,000

)

(25,000

)

Provisions for liabilities (120 ) (200 )
Net assets 16,088 3,703

Capital and reserves
Called up share capital 100 100
Retained earnings 13 15,988 3,603
16,088 3,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

HEY Bendalls Limited (Registered number: 07713840)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 October 2024 and were signed on its behalf by:





Mr K J Irons - Director


HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. Statutory information

HEY Bendalls Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07713840

Registered office: 53 Market Street
Ely
Cambridgeshire
CB7 4LR

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant effect upon the figures reported in the financial statements are in respect of the rates applied for amortisation and depreciation, as described below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue for the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is reported only to the extent that expenses recognised are recoverable.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued

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.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% p.a. reducing balance

Tangible fixed assets are initially recorded at cost and subsequently stated at cost less any depreciation and impairment losses.

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.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

De-recognition of client money
Client money and amounts due to clients are excluded from these financial statements. Client money held at 31 March 2024 amounted to £924,671 (2023 - £304,775).

4. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. Intangible fixed assets
Computer
Goodwill software Totals
£ £ £
Cost
At 1 April 2023
and 31 March 2024 600,000 8,590 608,590
Amortisation
At 1 April 2023
and 31 March 2024 600,000 8,590 608,590
Net book value
At 31 March 2024 - - -
At 31 March 2023 - - -

6. Tangible fixed assets
Fixtures
Short and
leasehold fittings Totals
£ £ £
Cost
At 1 April 2023 47,006 21,255 68,261
Disposals - (2,948 ) (2,948 )
At 31 March 2024 47,006 18,307 65,313
Depreciation
At 1 April 2023 46,888 20,320 67,208
Charge for year 80 196 276
Eliminated on disposal - (2,793 ) (2,793 )
At 31 March 2024 46,968 17,723 64,691
Net book value
At 31 March 2024 38 584 622
At 31 March 2023 118 935 1,053

7. Debtors: amounts falling due within one year
31.3.24 31.3.23
£ £
Trade debtors 22,049 26,511
Amounts owed by group undertakings 74,171 43,690
Other debtors 7,293 8,184
103,513 78,385

HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. Creditors: amounts falling due within one year
31.3.24 31.3.23
£ £
Bank loans and overdrafts (see note 10) 50,576 13,039
Trade creditors 3,725 5,751
Taxation and social security 7,627 22,942
Other creditors 10,999 10,323
72,927 52,055

9. Creditors: amounts falling due after more than one year
31.3.24 31.3.23
£ £
Bank loans (see note 10) 15,000 25,000

10. Loans

Included within bank loans and overdrafts, falling due both within and after one year, is a loan of £25,000 (2023 - £35,000) supported by the Bounce Back Loan Scheme.

11. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£ £
Within one year 16,680 16,680
Between one and five years 52,292 66,720
In more than five years - 2,252
68,972 85,652

12. Secured debts

The following secured debts are included within creditors:

31.3.24 31.3.23
£ £
Bank overdraft 34,429 -

Bank overdrafts are secured by means of a debenture incorporating a fixed and floating charge, together with cross-guarantees from other group companies.

HEY Bendalls Limited (Registered number: 07713840)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


13. Reserves
Retained
earnings
£

At 1 April 2023 3,603
Profit for the year 12,385
At 31 March 2024 15,988

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

14. Other financial commitments

The company has provided a cross-guarantee to the group's bankers in respect of group borrowings.