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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
480,177
63,268
27,037
141,608
27,780
402,580
402,580
480,177
xbrli:pure
xbrli:shares
iso4217:GBP
04569794
2023-04-01
2024-03-31
04569794
2024-03-31
04569794
2023-03-31
04569794
2022-04-01
2023-03-31
04569794
2023-03-31
04569794
2022-03-31
04569794
bus:Director1
2023-04-01
2024-03-31
04569794
core:WithinOneYear
2024-03-31
04569794
core:WithinOneYear
2023-03-31
04569794
core:ShareCapital
2024-03-31
04569794
core:ShareCapital
2023-03-31
04569794
core:RevaluationReserve
2023-03-31
04569794
core:RetainedEarningsAccumulatedLosses
2024-03-31
04569794
core:RetainedEarningsAccumulatedLosses
2023-03-31
04569794
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
04569794
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-03-31
04569794
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-03-31
04569794
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-03-31
04569794
core:Non-currentFinancialInstruments
core:OtherIncreaseDecreaseInInvestments
2024-03-31
04569794
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
04569794
core:Non-currentFinancialInstruments
2024-03-31
04569794
core:Non-currentFinancialInstruments
2023-03-31
04569794
bus:SmallEntities
2023-04-01
2024-03-31
04569794
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
04569794
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
04569794
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
04569794
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2023-04-01
2024-03-31
04569794
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2023-04-01
2024-03-31
04569794
core:OtherRelatedParties
2024-03-31
COMPANY REGISTRATION NUMBER:
04569794
Benmar Properties Limited |
|
Filleted Unaudited Financial Statements |
|
Benmar Properties Limited |
|
Year Ended 31 March 2024
Statement of Financial Position |
1 |
|
|
Notes to the Financial Statements |
3 |
|
|
Benmar Properties Limited |
|
Statement of Financial Position |
|
31 March 2024
Fixed Assets
Investments |
4 |
|
402,580 |
480,177 |
|
|
|
|
|
Current Assets
Debtors |
5 |
18,075 |
|
15,622 |
Investments |
6 |
231,512 |
|
184,211 |
Cash at bank and in hand |
5,816 |
|
42,838 |
|
--------- |
|
--------- |
|
255,403 |
|
242,671 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
312,829 |
|
304,550 |
|
--------- |
|
--------- |
Net Current Liabilities |
|
57,426 |
61,879 |
|
|
--------- |
--------- |
Total Assets Less Current Liabilities |
|
345,154 |
418,298 |
|
|
--------- |
--------- |
Net Assets |
|
345,154 |
418,298 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and Reserves
Called up share capital |
|
1 |
1 |
Revaluation reserve |
|
– |
116,000 |
Profit and loss account |
|
345,153 |
302,297 |
|
|
--------- |
--------- |
Shareholders Funds |
|
345,154 |
418,298 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Benmar Properties Limited |
|
Statement of Financial Position (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
9 January 2025
, and are signed on behalf of the board by:
Company registration number:
04569794
Benmar Properties Limited |
|
Notes to the Financial Statements |
|
Year Ended 31 March 2024
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 41 Greek Street, Stockport, Cheshire, SK3 8AX.
2.
Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Investment Properties
Joint Ventures
The company's investments in joint ventures are recorded at cost, less any impairment where appropriate.
Property Syndicates
The company's investment in property syndicates are not sufficient to give the company significant influence over the management of the property syndicate and are therefore recognised at the net investment held by the managing agent at the balance sheet date.
Revenue Recognition
The total turnover of the company has been derived from its principal activity wholly undertaken in the UK.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in Associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in Joint Ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 |
480,177 |
Additions |
63,268 |
Disposals |
(
27,037) |
Revaluations |
(
141,608) |
Other movements |
27,780 |
|
--------- |
At 31 March 2024 |
402,580 |
|
--------- |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 March 2024 |
402,580 |
|
--------- |
At 31 March 2023 |
480,177 |
|
--------- |
|
|
Investment in property syndicates The company has invested in five investment property syndicates: Southwood Properties (10%), Exeter Estate (10%), New Bond Street, Weymouth (2%), Newport Travelodge, Gainsborough (2%) and East Gate, Llanelli (1%).
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
18,075 |
15,622 |
|
-------- |
-------- |
|
|
|
6.
Investments
|
2024 |
2023 |
|
£ |
£ |
Seiton investment |
231,512 |
184,211 |
|
--------- |
--------- |
|
|
|
The company holds a joint venture investment in Seiton Estates (50%) with fair value based on accounts which are prepared annually.
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Corporation tax |
10,349 |
6,026 |
Other creditors |
302,480 |
298,524 |
|
--------- |
--------- |
|
312,829 |
304,550 |
|
--------- |
--------- |
|
|
|
8.
Related Party Transactions
During the year the company entered into the following transactions with related parties:
|
Transaction value |
Balance owed by/(owed to) |
|
2024 |
2023 |
2024 |
2023 |
|
£ |
£ |
£ |
£ |
Benmar Textiles Ltd |
(
5,000)
|
– |
(
301,280) |
– |
|
------- |
---- |
--------- |
---- |
|
|
|
|
|
Benmar Textiles Limited is a company with common directors.