Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29Other retail sale not in stores,stalls or marketstrue2023-03-01false66falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03114058 2023-03-01 2024-02-29 03114058 2022-03-01 2023-02-28 03114058 2024-02-29 03114058 2023-02-28 03114058 c:Director1 2023-03-01 2024-02-29 03114058 d:MotorVehicles 2023-03-01 2024-02-29 03114058 d:MotorVehicles 2024-02-29 03114058 d:MotorVehicles 2023-02-28 03114058 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03114058 d:ComputerEquipment 2023-03-01 2024-02-29 03114058 d:ComputerEquipment 2024-02-29 03114058 d:ComputerEquipment 2023-02-28 03114058 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03114058 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 03114058 d:Goodwill 2024-02-29 03114058 d:Goodwill 2023-02-28 03114058 d:CurrentFinancialInstruments 2024-02-29 03114058 d:CurrentFinancialInstruments 2023-02-28 03114058 d:Non-currentFinancialInstruments 2024-02-29 03114058 d:Non-currentFinancialInstruments 2023-02-28 03114058 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 03114058 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 03114058 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 03114058 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 03114058 d:ShareCapital 2024-02-29 03114058 d:ShareCapital 2023-02-28 03114058 d:RetainedEarningsAccumulatedLosses 2024-02-29 03114058 d:RetainedEarningsAccumulatedLosses 2023-02-28 03114058 c:FRS102 2023-03-01 2024-02-29 03114058 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 03114058 c:FullAccounts 2023-03-01 2024-02-29 03114058 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 03114058 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 03114058 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-02-29 03114058 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-02-28 03114058 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 03114058 2 2023-03-01 2024-02-29 03114058 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 03114058









W. C. BENSTEAD & SON LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
W. C. BENSTEAD & SON LTD
REGISTERED NUMBER: 03114058

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
17,510
24,697

  
17,510
24,697

Current assets
  

Stocks
  
1,583
921

Debtors: amounts falling due within one year
 6 
68,578
97,694

Cash at bank and in hand
 7 
310,813
199,429

  
380,974
298,044

Creditors: amounts falling due within one year
 8 
(119,357)
(128,815)

Net current assets
  
 
 
261,617
 
 
169,229

Total assets less current liabilities
  
279,127
193,926

Creditors: amounts falling due after more than one year
 9 
(5,818)
-

  

Net assets
  
273,309
193,926


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
273,299
193,916

  
273,309
193,926


Page 1

 
W. C. BENSTEAD & SON LTD
REGISTERED NUMBER: 03114058
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 January 2025.




A Dyerson
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

W. C. Benstead & Sons Ltd is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 03114058. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, IG10 4PL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor Vehicles
-
20%
straight line
Computer Equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
86,600



At 29 February 2024

86,600



Amortisation


At 1 March 2023
86,600



At 29 February 2024

86,600



Net book value



At 29 February 2024
-



At 28 February 2023
-



Page 6

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Motor Vehicles
Computer Equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
66,520
-
66,520


Additions
-
502
502



At 29 February 2024

66,520
502
67,022



Depreciation


At 1 March 2023
41,823
-
41,823


Charge for the year on owned assets
7,579
110
7,689



At 29 February 2024

49,402
110
49,512



Net book value



At 29 February 2024
17,118
392
17,510



At 28 February 2023
24,697
-
24,697


6.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
60,130
86,880

Prepayments and accrued income
8,448
7,755

Amounts recoverable on long-term contracts
-
3,059

68,578
97,694


Page 7

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
310,813
199,429

310,813
199,429



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
36,118
56,707

Corporation tax
32,271
18,417

Other taxation and social security
27,897
26,758

Obligations under finance lease and hire purchase contracts
3,910
15,362

Other creditors
13,453
6,201

Accruals and deferred income
5,708
5,370

119,357
128,815



9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
5,818
-

5,818
-


Page 8

 
W. C. BENSTEAD & SON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

29 February
28 February
2024
2023
£
£


Within one year
3,910
15,362

Between 1-5 years
5,818
-

9,728
15,362


11.


Controlling party

The ultimate controlling party is Shalan Zeki Sharif, who is also a director of the company. 

 
Page 9