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Registration number: 04009935

Benridge Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

FRS 102 1A

 

Benridge Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 11

 

Benridge Investments Limited

Company Information

Directors

Mr K Burridge

Mrs H J Burridge

Company secretary

Mr K Burridge

Registered office

Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

Accountants

Kennedy Legg
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

 

Benridge Investments Limited

(Registration number: 04009935)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

3,634,036

3,637,338

Investments

5

11,001

11,001

 

3,645,037

3,648,339

Current assets

 

Debtors

6

2,531,967

1,488,752

Cash at bank and in hand

 

1,183,013

1,793,675

 

3,714,980

3,282,427

Creditors: Amounts falling due within one year

7

(581,575)

(275,147)

Net current assets

 

3,133,405

3,007,280

Total assets less current liabilities

 

6,778,442

6,655,619

Creditors: Amounts falling due after more than one year

7

-

(31,679)

Provisions for liabilities

(534)

(534)

Net assets

 

6,777,908

6,623,406

Capital and reserves

 

Called up share capital

8

8,000

8,000

Retained earnings

6,769,908

6,615,406

Shareholders' funds

 

6,777,908

6,623,406

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Benridge Investments Limited

(Registration number: 04009935)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 13 January 2025 and signed on its behalf by:
 

.........................................
Mr K Burridge
Company secretary and director

 

Benridge Investments Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

8,000

6,615,405

6,623,405

Profit for the year

-

449,503

449,503

Dividends

-

(295,000)

(295,000)

At 30 April 2024

8,000

6,769,908

6,777,908

Share capital
£

Retained earnings
£

Total
£

At 1 May 2022

8,000

6,409,351

6,417,351

Profit for the year

-

417,055

417,055

Dividends

-

(211,000)

(211,000)

At 30 April 2023

8,000

6,615,406

6,623,406

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Stafford House
10 Prince of Wales Road
Dorchester
Dorset
DT1 1PW

These financial statements were authorised for issue by the Board on 13 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

10% reducing balance

Office equipment

3 years straight line

Investment property

In a departure from FRS 102 1a, the investment properties are stated at cost.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Trade creditors are recognised initially at the transaction price.

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Investment Properties
£

Total
£

Cost or valuation

At 1 May 2023

10,430

24,768

16,813

77,250

3,597,740

3,727,001

Additions

-

475

2,206

25,001

-

27,682

Disposals

-

-

-

(77,250)

-

(77,250)

At 30 April 2024

10,430

25,243

19,019

25,001

3,597,740

3,677,433

Depreciation

At 1 May 2023

6,669

11,018

14,038

57,938

-

89,663

Charge for the year

377

2,845

2,200

6,250

-

11,672

Eliminated on disposal

-

-

-

(57,938)

-

(57,938)

At 30 April 2024

7,046

13,863

16,238

6,250

-

43,397

Carrying amount

At 30 April 2024

3,384

11,380

2,781

18,751

3,597,740

3,634,036

At 30 April 2023

3,761

13,750

2,775

19,312

3,597,740

3,637,338

5

Investments

2024
£

2023
£

Investments in subsidiaries

11,001

11,001

Subsidiaries

£

Cost or valuation

At 1 May 2023

11,001

Provision

Carrying amount

At 30 April 2024

11,001

At 30 April 2023

11,001

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

411,984

385,555

Prepayments

 

31,688

31,937

Other debtors

 

2,088,295

1,071,260

   

2,531,967

1,488,752

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

7,039

Taxation and social security

 

444,575

131,906

Accruals and deferred income

 

109,024

108,336

Other creditors

 

27,976

27,866

 

581,575

275,147

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary B Shares of £1 each

3,000

3,000

3,000

3,000

Ordinary C Shares of £1 each

5,000

5,000

5,000

5,000

8,000

8,000

8,000

8,000

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

31,679

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

7,039

 

Benridge Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Bank borrowing

The company has provided the bank with a first charge over some of its investment properties as security for all the bank borrowings.