Company registration number 10315254 (England and Wales)
D. & K. BENNETT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
D. & K. BENNETT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
D. & K. BENNETT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,493
3,743
Tangible assets
4
158,875
161,080
161,368
164,823
Current assets
Stocks
25,500
25,500
Cash at bank and in hand
17,126
10,281
42,626
35,781
Creditors: amounts falling due within one year
5
(168,567)
(161,605)
Net current liabilities
(125,941)
(125,824)
Total assets less current liabilities
35,427
38,999
Creditors: amounts falling due after more than one year
6
(15,859)
(36,566)
Provisions for liabilities
(477)
(728)
Net assets
19,091
1,705
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
18,991
1,605
Total equity
19,091
1,705
D. & K. BENNETT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 January 2025 and are signed on its behalf by:
Mr D K Bennett
Director
Company registration number 10315254 (England and Wales)
D. & K. BENNETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
D. & K. Bennett Limited is a private company limited by shares incorporated in England and Wales. The registered office is Prospect House, 1 Prospect Place, Pride Park, Derby, DE24 8HG. The company registration number is 10315254.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
1.3
Intangible fixed assets - goodwill
Goodwill represents the cost of the franchise purchased from Chipsaway. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Not depreciated
Plant and equipment
25% reducing balance
Fixtures and fittings
20% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
D. & K. BENNETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Goodwill
£
Cost
At 1 October 2023 and 30 September 2024
12,493
Amortisation and impairment
At 1 October 2023
8,750
Amortisation charged for the year
1,250
At 30 September 2024
10,000
Carrying amount
At 30 September 2024
2,493
At 30 September 2023
3,743
D. & K. BENNETT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
152,081
35,394
187,475
Depreciation and impairment
At 1 October 2023
26,395
26,395
Depreciation charged in the year
2,205
2,205
At 30 September 2024
28,600
28,600
Carrying amount
At 30 September 2024
152,081
6,794
158,875
At 30 September 2023
152,081
8,999
161,080
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
20,291
19,537
Trade creditors
3,997
Corporation tax
23,567
15,902
Other taxation and social security
5,543
6,281
Other creditors
119,166
115,888
168,567
161,605
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,859
36,566