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REGISTERED NUMBER: 04623732 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2024

FOR

BENNETT & BAXTER LIMITED

BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

BENNETT & BAXTER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2024







DIRECTORS: P M Bennett
Mrs Z Lineker Bennett
Ms L Parsons





SECRETARY: Mrs Z Lineker Bennett





REGISTERED OFFICE: Unit 1 Sun Valley Buisness Park
Winnall Close
Winchester
Hampshire
SO23 0LB





REGISTERED NUMBER: 04623732 (England and Wales)





ACCOUNTANTS: Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN

BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

BALANCE SHEET
28 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,643 2,870

CURRENT ASSETS
Stocks 690,545 1,431,876
Debtors 5 912,808 1,237,141
Cash at bank and in hand 25,540 16,500
1,628,893 2,685,517
CREDITORS
Amounts falling due within one year 6 748,581 1,709,750
NET CURRENT ASSETS 880,312 975,767
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,955

978,637

CREDITORS
Amounts falling due after more than one
year

7

-

(39,624

)

PROVISIONS FOR LIABILITIES (622 ) -
NET ASSETS 884,333 939,013

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 884,183 938,863
884,333 939,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

BALANCE SHEET - continued
28 FEBRUARY 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 Income Statement has not been delivered.

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





P M Bennett - Director


BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024


1. STATUTORY INFORMATION

Bennett & Baxter 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.

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.

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.

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Improvements to Property - 20% straight line

Computer Equipment - 33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if 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 the Income Statement.

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

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.


BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

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 9 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 25,975
Additions 3,201
Disposals (2,933 )
At 28 February 2024 26,243
DEPRECIATION
At 1 March 2023 23,105
Charge for year 1,428
Eliminated on disposal (2,933 )
At 28 February 2024 21,600
NET BOOK VALUE
At 28 February 2024 4,643
At 28 February 2023 2,870

BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 371,288 988,177
Amounts owed by associates 437,646 150,037
Other debtors 103,874 98,927
912,808 1,237,141

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 24,000
Trade creditors 321,838 964,013
Amounts owed to associates 12,537 109,932
Taxation and social security 196,710 310,714
Other creditors 217,496 301,091
748,581 1,709,750

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 39,624

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 29,500 29,500
Between one and five years 46,708 76,208
76,208 105,708

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2024 and 28 February 2023:

2024 2023
£    £   
P M Bennett and Mrs Z Lineker Bennett
Balance outstanding at start of year (36,618 ) (24,096 )
Amounts advanced 29,800 -
Amounts repaid (39,496 ) (12,522 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (46,314 ) (36,618 )

This loan has been provided interest free and is repayable on demand.

BENNETT & BAXTER LIMITED (REGISTERED NUMBER: 04623732)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2024


10. RELATED PARTY DISCLOSURES

At the balance sheet date, Bennett and Baxter Limited was owed £437,021 (2023: £150,037) by Chapman and Moore Limited. A company in which Paul Bennett and Zoe Lineker Bennett are directors.

At the balance sheet date, Bennett and Baxter Limited owed £12,537 (2023: £109,932) to Lineker Bennett Limited. A company in which Paul Bennett and Zoe Lineker Bennett are directors and a company which holds shares in Bennett and Baxter Limited.

At the balance sheet date, Bennett and Baxter Limited was owed £625 by Bennett Global Sourcing. A company in which is under common control of the directors.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
BENNETT & BAXTER LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bennett & Baxter Limited for the year ended 28 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Bennett & Baxter Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bennett & Baxter Limited. You consider that Bennett & Baxter 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 financial statements of Bennett & Baxter 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 financial statements.






Rothmans LLP
Avebury House
St Peter Street
Winchester
Hampshire
SO23 8BN


26 November 2024