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REGISTERED NUMBER: 04842479 (England and Wales)





Benecom Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024






Benecom Limited (Registered number: 04842479)






Contents of the Financial Statements
for the year ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Benecom Limited

Company Information
for the year ended 31 May 2024







DIRECTORS: Mrs V Hodges
A M Hodges





SECRETARY: Mrs V Hodges





REGISTERED OFFICE: The Coach House
Heath
Wakefield
WF1 5SL





REGISTERED NUMBER: 04842479 (England and Wales)





ACCOUNTANTS: Simon Hart FCCA
Hart Wright Accounting
Chartered Certified Accountants
24 Hall Drive
Sutton In Craven
North Yorkshire
BD20 7NH

Benecom Limited (Registered number: 04842479)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,651,785 1,651,785

CURRENT ASSETS
Debtors 5 25,216 7,072
Cash at bank 118,586 226,305
143,802 233,377
CREDITORS
Amounts falling due within one year 6 (157,167 ) (158,458 )
NET CURRENT (LIABILITIES)/ASSETS (13,365 ) 74,919
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,638,420

1,726,704

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Revaluation reserve 7 450,000 450,000
Retained earnings 1,187,420 1,275,704
SHAREHOLDERS' FUNDS 1,638,420 1,726,704

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





A M Hodges - Director


Benecom Limited (Registered number: 04842479)

Notes to the Financial Statements
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Benecom Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced income from rental and service charges.

Tangible fixed assets
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The valuation is to be undertaken on an interim basis every three years with a full valuation every five years, by external professional valuers.

Depreciation is not provided on investment properties. This treatment represents a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate.

The accounting policy adopted is therefore necessary for the accounts to show a true and fair view.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

Benecom Limited (Registered number: 04842479)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Freehold Computer
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 1,650,000 1,785 1,651,785
NET BOOK VALUE
At 31 May 2024 1,650,000 1,785 1,651,785
At 31 May 2023 1,650,000 1,785 1,651,785

Cost or valuation at 31 May 2024 is represented by:

Freehold Computer
property equipment Totals
£    £    £   
Valuation in 2008 223,524 1,785 225,309
Valuation in 2016 (500,000 ) - (500,000 )
Valuation in 2022 450,000 - 450,000
Cost 1,476,476 - 1,476,476
1,650,000 1,785 1,651,785

If Freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,476,476 1,476,476
Aggregate depreciation 265,766 265,766

Value of land in freehold land and buildings 1,210,710 1,210,710

Freehold property was valued on an open market basis on 9 December 2022 by Bramleys Surveyors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 20,709 -
VAT 4,507 7,072
25,216 7,072

Benecom Limited (Registered number: 04842479)

Notes to the Financial Statements - continued
for the year ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax - 1,056
Due to related undertaking 1,189 1,189
Directors' current accounts 154,778 155,013
Accrued expenses 1,200 1,200
157,167 158,458

7. RESERVES
Revaluation
reserve
£   
At 1 June 2023
and 31 May 2024 450,000

8. GOING CONCERN

The company meets it's day to day working capital requirements by the income stream received from property rentals. The Directors have assessed the reliability of those income streams and are satisfied that they will continue into the foreseeable future.