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COMPANY REGISTRATION NUMBER: 01871290
BENNISON FABRICS LIMITED
Filleted Unaudited Financial Statements
31 May 2024
BENNISON FABRICS LIMITED
Statement of Financial Position
31 May 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
14,097
18,797
Investments
6
322,036
322,036
---------
---------
336,133
340,833
Current assets
Stocks
379,177
362,496
Debtors
7
217,651
129,298
Cash at bank and in hand
1,214,240
494,416
------------
---------
1,811,068
986,210
Creditors: amounts falling due within one year
8
730,820
181,847
------------
---------
Net current assets
1,080,248
804,363
------------
------------
Total assets less current liabilities
1,416,381
1,145,196
Provisions
Taxation including deferred tax
2,599
3,474
------------
------------
Net assets
1,413,782
1,141,722
------------
------------
BENNISON FABRICS LIMITED
Statement of Financial Position (continued)
31 May 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,413,682
1,141,622
------------
------------
Shareholders funds
1,413,782
1,141,722
------------
------------
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 May 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 19 February 2025 , and are signed on behalf of the board by:
Mr G M Newberry
Director
Company registration number: 01871290
BENNISON FABRICS LIMITED
Notes to the Financial Statements
Year ended 31 May 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 16 Holbein Place, London, SW1W 8NL.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold properties
-
10% straight line
Fixtures and fittings
-
25% reducing balance
Equipments
-
25% reducing balance
Improvement to premises
-
10% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Improvement to premise
Total
£
£
£
£
£
Cost
At 1 June 2023 and 31 May 2024
145,697
228,640
49,467
149,056
572,860
---------
---------
--------
---------
---------
Depreciation
At 1 June 2023
145,697
226,561
32,749
149,056
554,063
Charge for the year
520
4,180
4,700
---------
---------
--------
---------
---------
At 31 May 2024
145,697
227,081
36,929
149,056
558,763
---------
---------
--------
---------
---------
Carrying amount
At 31 May 2024
1,559
12,538
14,097
---------
---------
--------
---------
---------
At 31 May 2023
2,079
16,718
18,797
---------
---------
--------
---------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 June 2023 and 31 May 2024
322,036
---------
Impairment
At 1 June 2023 and 31 May 2024
---------
Carrying amount
At 31 May 2024
322,036
---------
At 31 May 2023
322,036
---------
7. Debtors
2024
2023
£
£
Trade debtors
14,548
16,302
Amounts owed by group undertakings and undertakings in which the company has a participating interest
144,597
53,103
Other debtors
58,506
59,893
---------
---------
217,651
129,298
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
188,440
160,851
Corporation tax
91,931
11
Social security and other taxes
9
9
Other creditors
450,440
20,976
---------
---------
730,820
181,847
---------
---------