REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
BENBOW INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
BENBOW INVESTMENTS LIMITED |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BENBOW INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Hillside |
Albion Street |
Chipping Norton |
Oxfordshire |
OX7 5BH |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
BALANCE SHEET |
31 OCTOBER 2023 |
31.10.23 | 31.10.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors: amounts falling due within one year |
6 |
Debtors: amounts falling due after more than one year |
6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
BALANCE SHEET - continued |
31 OCTOBER 2023 |
The financial statements were approved by the director and authorised for issue on |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
1. | STATUTORY INFORMATION |
Benbow Investments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These accounts have been prepared on a going concern basis on the assumption that the director will continue to support the company for the foreseeable future. |
Tangible fixed assets |
Motor Vehicles |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life - 25% Reducing balance. |
Freehold Land & property |
In the opinion of the directors the residual value of the freehold land & property is not materially different to the current value, and therefore no depreciation has been provided. |
Investments |
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. |
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks 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 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. |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
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. |
Investments |
Investments are recorded on the balance sheet at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Freehold | Motor |
property | vehicles | Totals |
£ | £ | £ |
COST |
At 1 November 2022 |
Reclassification/transfer | ( |
) | ( |
) |
At 31 October 2023 |
DEPRECIATION |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
At 31 October 2022 |
Motor vehicles are financed by Hire Purchase |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
Additions |
Reclassification/transfer | 845,763 |
At 31 October 2023 |
NET BOOK VALUE |
At 31 October 2023 |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
6. | DEBTORS |
31.10.23 | 31.10.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
VAT |
Amounts falling due after more than one year: |
Data Interconnect Limited |
Aggregate amounts |
7. | CURRENT ASSET INVESTMENTS |
31.10.23 | 31.10.22 |
£ | £ |
Other |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation Tax |
VAT | 4,460 | - |
Other creditors |
Accruals and deferred income |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans - 2-5 years |
Bank loans more 5 yr |
Hire purchase contracts |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr | - | 414,077 |
BENBOW INVESTMENTS LIMITED (REGISTERED NUMBER: 03903360) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2023 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.10.23 | 31.10.22 |
£ | £ |
Bank loans |
Together Commercial Finance Limited holds floating charges dated 7 April 2017 and 11 April 2017 over the assets of the company. |
Together Commercial Finance Limited holds a floating charge dated 15 November 2019 over Flat 2, 38 Redcliffe Road, London. |
Together Commercial Finance Limited holds a fixed charge dated 15 November 2019 over Flat 2, 38 Redcliffe Road, London |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.10.23 | 31.10.22 |
value: | £ | £ |
Ordinary A | £1 | 810 | 810 |
Ordinary B | £1 | 190 | 190 |
1,000 | 1,000 |
12. | ULTIMATE CONTROLLING PARTY |
The company was under the joint control of Mr and Mrs Dodd Noble by virtue of their shareholdings. |