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REGISTERED NUMBER: 08294145 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

BENNETT OAKLEY LIMITED

BENNETT OAKLEY LIMITED (REGISTERED NUMBER: 08294145)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BENNETT OAKLEY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Ms S F Rowland
J A Leighton
S J Cash
Ms D H Palethorpe





REGISTERED OFFICE: 13 Mill Road
Burgess Hill
West Sussex
RH15 8DN





REGISTERED NUMBER: 08294145 (England and Wales)





ACCOUNTANTS: Galloways Accounting (Hove) Limited
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

BENNETT OAKLEY LIMITED (REGISTERED NUMBER: 08294145)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 3 - 60,000
Tangible assets 4 369,733 20,378
369,733 80,378

CURRENT ASSETS
Debtors 5 277,186 206,559
Cash at bank and in hand 8,595,421 11,190,512
8,872,607 11,397,071
CREDITORS
Amounts falling due within one year 6 8,136,189 10,687,237
NET CURRENT ASSETS 736,418 709,834
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,106,151

790,212

CREDITORS
Amounts falling due after more than one
year

7

(164,333

)

-

PROVISIONS FOR LIABILITIES (3,074 ) (4,281 )
NET ASSETS 938,744 785,931

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 938,741 785,928
938,744 785,931

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 7 November 2024 and were signed on its behalf by:




S J Cash - Director


BENNETT OAKLEY LIMITED (REGISTERED NUMBER: 08294145)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. 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.

Turnover
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration.

Goodwill
Goodwill is the additional amount paid in connection with the acquisition of the business in 2015 and 2017. This goodwill is being amortised evenly over its estimated life of ten and five years respectively.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or is there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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 taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted.

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.

Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 28 ) .

BENNETT OAKLEY LIMITED (REGISTERED NUMBER: 08294145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

3. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2023
and 31 July 2024 645,192
AMORTISATION
At 1 August 2023 585,192
Amortisation for year 60,000
At 31 July 2024 645,192
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 60,000

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 August 2023 - 45,230 24,131 69,361
Additions 357,438 - 1,945 359,383
At 31 July 2024 357,438 45,230 26,076 428,744
DEPRECIATION
At 1 August 2023 - 37,603 11,380 48,983
Charge for year 1,371 1,907 6,750 10,028
At 31 July 2024 1,371 39,510 18,130 59,011
NET BOOK VALUE
At 31 July 2024 356,067 5,720 7,946 369,733
At 31 July 2023 - 7,627 12,751 20,378

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 118,901 24,531
Amounts owed by associates 120 -
Amounts recoverable on contract 35,024 59,947
Directors' loan accounts 720 -
Prepayments 122,421 122,081
277,186 206,559

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 157,636 125,271
Trade creditors 55,002 -
Tax 112,635 165,452
Social security and other taxes 38,261 39,649
VAT 166,063 131,432
Other creditors 7,602,676 10,216,287
Accrued expenses 3,916 9,146
8,136,189 10,687,237

BENNETT OAKLEY LIMITED (REGISTERED NUMBER: 08294145)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 164,333 -

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 16,250 29,576
Between one and five years 32,500 81,537
48,750 111,113

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2024 and 31 July 2023:

2024 2023
£    £   
J A Leighton
Balance outstanding at start of year - -
Amounts advanced 240 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 240 -

S J Cash
Balance outstanding at start of year - -
Amounts advanced 240 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 240 -

Ms S F Rowland
Balance outstanding at start of year - -
Amounts advanced 240 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 240 -

These balances represented the maximum amount outstanding during the year and the loans are interest free and repayable on demand.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Bennett Oakley Employee OwnershipTrust.

This was by virtue of their 100% holding of the issued share capital.