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REGISTERED NUMBER: 05703454 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 January 2024

for

P&C BENSON LTD

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P&C BENSON LTD

Company Information
for the Year Ended 31 January 2024







Director: I S Bajwa





Secretary: K K Gossal





Registered office: Floor 3
Northern Assurance Buildings
9-21 Princess Street
Manchester
Greater Manchester
M2 4DN





Registered number: 05703454 (England and Wales)





Accountants: Evelyn Partners (Manchester) Limited
Accountants
Northern Assurance Buildings
9-21 Princess Street
Manchester
M2 4DN

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 5 150,547 172,047
Tangible assets 6 146,852 194,182
Investments 7 267,651 -
565,050 366,229

Current assets
Stocks 198,445 80,000
Debtors 8 394,168 245,489
Cash at bank and in hand 163,863 108,884
756,476 434,373
Creditors
Amounts falling due within one year 9 1,684,115 1,119,346
Net current liabilities (927,639 ) (684,973 )
Total assets less current liabilities (362,589 ) (318,744 )

Creditors
Amounts falling due after more than one
year

10

14,051

23,333
Net liabilities (376,640 ) (342,077 )

Capital and reserves
Called up share capital 12 2 2
Retained earnings (376,642 ) (342,079 )
Shareholders' funds (376,640 ) (342,077 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

Balance Sheet - continued
31 January 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 January 2025 and were signed by:





I S Bajwa - Director


P&C BENSON LTD (REGISTERED NUMBER: 05703454)

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


1. Statutory information

P&C Benson 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.

2. Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A ''Small Entities'' of Financial Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Improvements to property - 10% straight line
Plant and Machinery - 25% straight line
Fixtures and fittings -15% straight line
Motor Vehicles - 25% straight line
Computer equipment - 33/25% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses.

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 Profit and Loss Account, 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.

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.

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

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


3. Accounting policies - continued

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.

Going concern
Whilst the company is dependent on the continued financial support of the parent company and the director, the director considers that the current cashflows are more than sufficient for the company to meet its liabilities as they fall due.

On this basis the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that might be necessary if the director did not provide further support.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the Profit and Loss Account in administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

4. Employees and directors

The average number of employees during the year was 20 (2023 - 9 ) .

5. Intangible fixed assets
Goodwill
£   
Cost
At 1 February 2023
and 31 January 2024 1,384,996
Amortisation
At 1 February 2023 1,212,949
Charge for year 21,500
At 31 January 2024 1,234,449
Net book value
At 31 January 2024 150,547
At 31 January 2023 172,047

The company purchased an existing pharmacy on 1 February 2011 for a consideration of £1,200,000, which gave rise to purchased goodwill of £1,170,000. This was has now been fully amortised. A further pharmacy was purchased on 4 January 2022 for a consideration of £225,000 which included £214,996 goodwill. This goodwill is being amortised on a straight line basis over its expected useful economic life of 10 years.

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

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


6. Tangible fixed assets
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
Cost
At 1 February 2023 142,626 83,007 22,326
Additions 10,577 - -
Disposals - - -
At 31 January 2024 153,203 83,007 22,326
Depreciation
At 1 February 2023 33,460 55,223 22,326
Charge for year 14,334 6,947 -
Eliminated on disposal - - -
At 31 January 2024 47,794 62,170 22,326
Net book value
At 31 January 2024 105,409 20,837 -
At 31 January 2023 109,166 27,784 -

Motor Computer
vehicles equipment Totals
£    £    £   
Cost
At 1 February 2023 59,665 45,584 353,208
Additions 16,750 - 27,327
Disposals (54,790 ) - (54,790 )
At 31 January 2024 21,625 45,584 325,745
Depreciation
At 1 February 2023 10,582 37,435 159,026
Charge for year 648 3,645 25,574
Eliminated on disposal (5,707 ) - (5,707 )
At 31 January 2024 5,523 41,080 178,893
Net book value
At 31 January 2024 16,102 4,504 146,852
At 31 January 2023 49,083 8,149 194,182

7. Fixed asset investments
Other
investments
£   
Cost
Additions 267,651
At 31 January 2024 267,651
Net book value
At 31 January 2024 267,651

P&C BENSON LTD (REGISTERED NUMBER: 05703454)

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


8. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors - 77
Other debtors 394,168 245,412
394,168 245,489

9. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 11,628 10,000
Trade creditors 543,318 344,865
Amounts owed to group undertakings 1,097,510 750,642
Social security and other taxes 21,044 9,328
Pension control 6,765 1,061
Accruals and deferred income 3,850 3,450
1,684,115 1,119,346

10. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 1 - 1-2 yrs 10,000 10,000
Bank loan 1 - 2-5 yrs 4,051 13,333
14,051 23,333

11. Secured debts

There are fixed and floating charges on all property and undertakings of the company

12. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary 1 2 2

13. Other financial commitments

The company is committed to pay £234,000 (2023 £260,000 under the remaining lease term of the property of 10 years (2022 11 years).