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REGISTERED NUMBER: 05697665 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Bencewell Properties Ltd

Bencewell Properties Ltd (Registered number: 05697665)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Bencewell Properties Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: N J Chadd





REGISTERED OFFICE: Unit 6, Bencewell Farm
Oakley Road
Bromley
Kent
BR2 8HG





REGISTERED NUMBER: 05697665 (England and Wales)





ACCOUNTANTS: Thornton Springer LLP
Chartered Accountants
67 Westow Street
London
SE19 3RW

Bencewell Properties Ltd (Registered number: 05697665)

Balance Sheet
31 May 2024

31.5.24 31.5.23
as restated
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,141 150,312
Investments 6 145,000 145,000
Investment property 7 812,653 1,478,653
959,794 1,773,965

CURRENT ASSETS
Stocks - 537,467
Debtors 8 227,089 977,835
Cash at bank 264,897 276,567
491,986 1,791,869
CREDITORS
Amounts falling due within one year 9 (1,263,959 ) (2,761,241 )
NET CURRENT LIABILITIES (771,973 ) (969,372 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

187,821

804,593

CREDITORS
Amounts falling due after more than one
year

10

(43,385

)

(126,778

)

PROVISIONS FOR LIABILITIES - (187,371 )
NET ASSETS 144,436 490,444

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 204,498 204,498
Fair value reserve 154,343 261,941
Retained earnings (214,409 ) 24,001
SHAREHOLDERS' FUNDS 144,436 490,444

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Bencewell Properties Ltd (Registered number: 05697665)

Balance Sheet - continued
31 May 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 director and authorised for issue on 28 November 2024 and were signed by:





N J Chadd - Director


Bencewell Properties Ltd (Registered number: 05697665)

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

1. STATUTORY INFORMATION

Bencewell Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 33% on cost and 20% on reducing balance

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

"No depreciation is provided for land and buildings as they are held as investment properties. This is a departure from the Companies Act 2006 which requires all properties to be depreciated. However, this policy is in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) and is preferred by the directors in order for the financial statements to give a true and fair view."

Stocks
Stock and Work in progress is valued at the lower of cost and estimated selling price less costs to complete.

Cost of stock and work in progress comprises cost of land, direct labour and materials costs, carriage and handling costs, finance and legal costs and those overheads that have been incurred in bringing stocks and work in progress to their present location and condition.

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.


Bencewell Properties Ltd (Registered number: 05697665)

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

3. 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 161,521
Additions 1,000
Disposals (148,491 )
At 31 May 2024 14,030
DEPRECIATION
At 1 June 2023 11,209
Charge for year 680
At 31 May 2024 11,889
NET BOOK VALUE
At 31 May 2024 2,141
At 31 May 2023 150,312

6. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST OR VALUATION
At 1 June 2023
and 31 May 2024 145,000
NET BOOK VALUE
At 31 May 2024 145,000
At 31 May 2023 145,000

Bencewell Properties Ltd (Registered number: 05697665)

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

6. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 May 2024 is represented by:

Shares in
group
undertaking
£   
Valuation in 2021 129,800
Cost 15,200
145,000

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 1,478,653
Disposals (416,000 )
Revaluations (250,000 )
At 31 May 2024 812,653
NET BOOK VALUE
At 31 May 2024 812,653
At 31 May 2023 1,478,653

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 24,543
Cost 788,110
812,653

If investment properties had not been revalued they would have been included at the following historical cost:

31.5.24 31.5.23
as restated
£    £   
Cost 788,110 2,082,110

Investment properties were valued on an open market basis on 31 May 2024 by the director .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
as restated
£    £   
Trade debtors 32,955 53,260
Other debtors 194,134 924,575
227,089 977,835

Bencewell Properties Ltd (Registered number: 05697665)

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

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
as restated
£    £   
Bank loans and overdrafts 81,684 529,654
Hire purchase contracts (1,322 ) -
Trade creditors 35,429 261,155
Taxation and social security 77,336 64,800
Other creditors 1,070,832 1,905,632
1,263,959 2,761,241

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
as restated
£    £   
Bank loans 43,385 126,778

11. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
as restated
£    £   
Bank loans 109,321 636,431

12. RELATED PARTY DISCLOSURES

Other debtors due in less than 1 year, includes an amount totalling £156,119 due from Albert Road (London) Developments Limited a company wholly owned by the director, N J Chadd.

The company charged £60,000 to Ri Works Limited for office rent. N Chadd is a director of Ri Works Limited.