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REGISTERED NUMBER: 03387235 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Bennetts Foods (Worcester) Limited

Bennetts Foods (Worcester) Limited (Registered number: 03387235)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Bennetts Foods (Worcester) Limited (Registered number: 03387235)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 360,648 344,438
Investments 5 1 1
360,649 344,439

CURRENT ASSETS
Stocks 397,198 359,912
Debtors 6 592,900 503,652
Cash at bank and in hand 301,684 259,399
1,291,782 1,122,963
CREDITORS
Amounts falling due within one year 7 370,793 291,914
NET CURRENT ASSETS 920,989 831,049
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,281,638

1,175,488

PROVISIONS FOR LIABILITIES 47,265 34,244
NET ASSETS 1,234,373 1,141,244

CAPITAL AND RESERVES
Called up share capital 8 100 100
Share premium 20,526 20,526
Retained earnings 1,213,747 1,120,618
SHAREHOLDERS' FUNDS 1,234,373 1,141,244

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.

Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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 14 October 2024 and were signed on its behalf by:





Mr R A Bennett - Director


Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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

1. STATUTORY INFORMATION

Bennetts Foods (Worcester) 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: 03387235

Registered office: Manor Farm
Lower Wick
Worcester
WR2 4BS

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.

Preparation of consolidated financial statements
The financial statements contain information about Bennetts Foods (Worcester) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Straight line over 7 years, 2% on cost and NIL
Plant and machinery - Straight line over 5 years
Motor vehicles - 25% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Classification of financial liabilities
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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

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 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
Cost
At 1 April 2023 425,214 589,964 155,275 1,170,453
Additions - 108,217 17,750 125,967
At 31 March 2024 425,214 698,181 173,025 1,296,420
Depreciation
At 1 April 2023 260,507 469,809 95,699 826,015
Charge for year 9,805 75,614 24,338 109,757
At 31 March 2024 270,312 545,423 120,037 935,772
Net book value
At 31 March 2024 154,902 152,758 52,988 360,648
At 31 March 2023 164,707 120,155 59,576 344,438

Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
Cost
At 1 April 2023
and 31 March 2024 1
Net book value
At 31 March 2024 1
At 31 March 2023 1

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 267,705 171,158
Amounts owed by group undertakings 27,428 27,428
Other debtors 297,767 305,066
592,900 503,652

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases - 1,302
Trade creditors 316,131 105,391
Taxation and social security 45,991 31,221
Other creditors 8,671 154,000
370,793 291,914

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

Bennetts Foods (Worcester) Limited (Registered number: 03387235)

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

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr D O S Bennett Deceased
Balance outstanding at start of year 235,953 240,953
Amounts repaid (235,953 ) (5,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 235,953

The loan is interest free, unsecured and repayable on demand. The above loan has been transferred to other debtors as the Director it relates to has sadly passed away.