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Registrar of Companies

Registration number: 00859328

Ben Sayer (Westmorland) Limited

Unaudited Financial Statements

29 February 2024

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Ben Sayer (Westmorland) Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

4

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ben Sayer (Westmorland) Limited
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ben Sayer (Westmorland) Limited for the year ended 29 February 2024 as set out on pages 2 to 9 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 Ben Sayer (Westmorland) Limited, as a body, in accordance with the terms of our engagement letter dated 22 May 2023. Our work has been undertaken solely to prepare for your approval the accounts of Ben Sayer (Westmorland) Limited and state those matters that we have agreed to state to the Board of Directors of Ben Sayer (Westmorland) 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 Ben Sayer (Westmorland) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ben Sayer (Westmorland) 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 Ben Sayer (Westmorland) Limited. You consider that Ben Sayer (Westmorland) 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 Ben Sayer (Westmorland) 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.



Dodd & Co Limited
Chartered Accountants
Clint Mill
Cornmarket
PENRITH
CA11 7HW

25 October 2024

 

Ben Sayer (Westmorland) Limited

(Registration number: 00859328)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

643,408

510,629

Investment property

5

184,580

184,580

 

827,988

695,209

Current assets

 

Stocks

13,075

16,578

Debtors

6

345,037

348,483

Cash at bank and in hand

 

201,098

83,403

 

559,210

448,464

Creditors: Amounts falling due within one year

7

(214,634)

(132,563)

Net current assets

 

344,576

315,901

Total assets less current liabilities

 

1,172,564

1,011,110

Creditors: Amounts falling due after more than one year

7

(13,333)

(23,333)

Provisions for liabilities

(156,837)

(107,352)

Net assets

 

1,002,394

880,425

Capital and reserves

 

Allotted, called up and fully paid share capital

1,000

1,000

Profit and loss account

1,001,394

879,425

Total equity

 

1,002,394

880,425

 

Ben Sayer (Westmorland) Limited

(Registration number: 00859328)
Balance Sheet as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 October 2024
 

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

J S Pattinson

Director

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
Castle Garage
Brough
KIRKBY STEPHEN
CA17 4BD

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

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

Land and buildings

10% straight line basis

Plant and Equipment

12.5% reducing balance basis

Motor vehicles

25% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The value is determined from observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 the sale of goods 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.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 15 (2023 - 13).

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Tangible assets

Land and buildings
£

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

8,329

34,348

1,368,820

1,411,497

Additions

-

603

284,310

284,913

Disposals

-

-

(52,250)

(52,250)

At 29 February 2024

8,329

34,951

1,600,880

1,644,160

Depreciation

At 1 March 2023

6,922

21,637

872,309

900,868

Charge for the year

149

1,542

140,854

142,545

Eliminated on disposal

-

-

(42,661)

(42,661)

At 29 February 2024

7,071

23,179

970,502

1,000,752

Carrying amount

At 29 February 2024

1,258

11,772

630,378

643,408

At 28 February 2023

1,407

12,711

496,511

510,629

5

Investment properties

£

At 1 March 2023

184,580

At 29 February 2024

184,580

The director considers the purchase price to be a representation of fair value at 28 February 2024.

There has been no valuation of investment property by an independent valuer.

6

Debtors

2024
£

2023
£

Trade debtors

316,287

331,631

Other debtors

28,750

16,852

345,037

348,483

 

Ben Sayer (Westmorland) Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

14,218

12,835

Trade creditors

 

146,767

83,573

Taxation and social security

 

17,207

31,455

Corporation tax liability

 

31,507

-

Other creditors

 

4,935

4,700

 

214,634

132,563

Due after one year

 

Loans and borrowings

8

13,333

23,333

8

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank borrowings

10,000

10,000

Other borrowings

4,218

2,835

14,218

12,835

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

13,333

23,333