Bingham and Jones Limited 08524411 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is deveopment of food, drinks and branding professionals. Digita Accounts Production Advanced 6.30.9574.0 true true 08524411 2023-06-01 2024-05-31 08524411 2024-05-31 08524411 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-05-31 08524411 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2024-05-31 08524411 core:RetainedEarningsAccumulatedLosses 2024-05-31 08524411 core:ShareCapital 2024-05-31 08524411 core:CurrentFinancialInstruments 2024-05-31 08524411 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 08524411 core:FurnitureFittingsToolsEquipment 2024-05-31 08524411 core:LandBuildings 2024-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-05-31 08524411 bus:SmallEntities 2023-06-01 2024-05-31 08524411 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08524411 bus:FilletedAccounts 2023-06-01 2024-05-31 08524411 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08524411 bus:RegisteredOffice 2023-06-01 2024-05-31 08524411 bus:Director1 2023-06-01 2024-05-31 08524411 bus:Director2 2023-06-01 2024-05-31 08524411 bus:Director3 2023-06-01 2024-05-31 08524411 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-01 2024-05-31 08524411 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-06-01 2024-05-31 08524411 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08524411 bus:Agent1 2023-06-01 2024-05-31 08524411 core:FurnitureFittings 2023-06-01 2024-05-31 08524411 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 08524411 core:LandBuildings 2023-06-01 2024-05-31 08524411 core:LeaseholdImprovements 2023-06-01 2024-05-31 08524411 core:OfficeEquipment 2023-06-01 2024-05-31 08524411 core:PlantMachinery 2023-06-01 2024-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-06-01 2024-05-31 08524411 countries:EnglandWales 2023-06-01 2024-05-31 08524411 2023-05-31 08524411 core:FurnitureFittingsToolsEquipment 2023-05-31 08524411 core:LandBuildings 2023-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 08524411 2022-06-01 2023-05-31 08524411 2023-05-31 08524411 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-05-31 08524411 bus:OrdinaryShareClass2 bus:Non-cumulativeShares 2023-05-31 08524411 core:RetainedEarningsAccumulatedLosses 2023-05-31 08524411 core:ShareCapital 2023-05-31 08524411 core:CurrentFinancialInstruments 2023-05-31 08524411 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 08524411 core:FurnitureFittingsToolsEquipment 2023-05-31 08524411 core:LandBuildings 2023-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-06-01 2023-05-31 08524411 2022-05-31 08524411 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08524411

Bingham and Jones Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Bingham and Jones Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Bingham and Jones Limited

Company Information

Directors

Mr D Jones

Mr J Bingham

Mr A J Givon

Registered office

Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

Accountants

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Bingham and Jones Limited
for the Year Ended 31 May 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Bingham and Jones Limited for the year ended 31 May 2024 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Bingham and Jones Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Bingham and Jones Limited and state those matters that we have agreed to state to the Board of Directors of Bingham and Jones Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bingham and Jones Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Bingham and Jones Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Bingham and Jones Limited. You consider that Bingham and Jones Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Bingham and Jones Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crossley & Davis Chartered Accountants
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF

19 November 2024

 

Bingham and Jones Limited

(Registration number: 08524411)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,915

15,456

Current assets

 

Stocks

5

28,000

28,000

Debtors

6

90,871

114,126

Cash at bank and in hand

 

40,601

15,338

 

159,472

157,464

Creditors: Amounts falling due within one year

7

(115,840)

(62,354)

Net current assets

 

43,632

95,110

Total assets less current liabilities

 

60,547

110,566

Provisions for liabilities

(2,856)

(2,031)

Net assets

 

57,691

108,535

Capital and reserves

 

Called up share capital

8

940

940

Retained earnings

56,751

107,595

Shareholders' funds

 

57,691

108,535

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 November 2024 and signed on its behalf by:
 

 

Bingham and Jones Limited

(Registration number: 08524411)
Balance Sheet as at 31 May 2024

.........................................
Mr D Jones
Director

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor, Seneca House
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF
England

These financial statements were authorised for issue by the Board on 19 November 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

10% on cost

Fixtures and fittings

20% on written down value

Plant and machinery

20% on written down value

Office equipment

25% on written down value and 33.3% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

18,443

33,550

51,993

Additions

-

6,914

6,914

At 31 May 2024

18,443

40,464

58,907

Depreciation

At 1 June 2023

11,064

25,468

36,532

Charge for the year

1,844

3,616

5,460

At 31 May 2024

12,908

29,084

41,992

Carrying amount

At 31 May 2024

5,535

11,380

16,915

At 31 May 2023

7,379

8,077

15,456

Included within the net book value of land and buildings above is £5,535 (2023 - £7,379) in respect of freehold land and buildings.
 

5

Stocks

2024
£

2023
£

Other inventories

28,000

28,000

6

Debtors

Current

2024
£

2023
£

Trade debtors

86,778

103,151

Prepayments

1,139

259

Other debtors

2,954

10,716

 

90,871

114,126

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

16,339

7,388

Taxation and social security

69,826

37,958

Accruals and deferred income

18,659

9,700

Other creditors

11,016

7,308

115,840

62,354

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

900

900

900

900

Ordinary A Shares of £1 each

40

40

40

40

940

940

940

940

9

Related party transactions

Loans to related parties

2024

Key management
£

Total
£

At start of period

1,242

1,242

Advanced

172,866

172,866

Repaid

(175,836)

(175,836)

Interest transactions

1,728

1,728

At end of period

-

-

 

Bingham and Jones Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

2023

Key management
£

Total
£

At start of period

656

656

Advanced

91,763

91,763

Repaid

(92,000)

(92,000)

Interest transactions

823

823

At end of period

1,242

1,242