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REGISTERED NUMBER: 00492222 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Bben Development Company Limited

Bben Development Company Limited (Registered number: 00492222)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Bben Development Company Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C J Gridley
J J Gridley





REGISTERED OFFICE: 147a High Street
Waltham Cross
Hertfordshire
EN8 7AP





REGISTERED NUMBER: 00492222 (England and Wales)





ACCOUNTANTS: Thickbroom Coventry Limited
Chartered Accountants
147a High Street
Waltham Cross
EN8 7AP

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Bben Development Company Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Directors' Report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bben Development Company Limited for the year ended 30 September 2024 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Bben Development Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bben Development Company Limited and state those matters that we have agreed to state to the Board of Directors of Bben Development Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bben Development Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Bben Development Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bben Development Company Limited. You consider that Bben Development Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Bben Development Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Thickbroom Coventry Limited
Chartered Accountants
147a High Street
Waltham Cross
EN8 7AP


Date: .............................................

Bben Development Company Limited (Registered number: 00492222)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 9,142 10,754
Investment property 5 3,670,000 3,600,000
3,679,142 3,610,754

CURRENT ASSETS
Debtors 6 47,607 64,284
Cash at bank and in hand 64,321 28,470
111,928 92,754
CREDITORS
Amounts falling due within one year 7 (1,098,337 ) (987,015 )
NET CURRENT LIABILITIES (986,409 ) (894,261 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,692,733

2,716,493

CREDITORS
Amounts falling due after more than
one year

8

(568,742

)

(598,077

)
NET ASSETS 2,123,991 2,118,416

CAPITAL AND RESERVES
Called up share capital 10 8,140 8,140
Revaluation reserve 11 1,329,369 1,329,369
Retained earnings 786,482 780,907
SHAREHOLDERS' FUNDS 2,123,991 2,118,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Bben Development Company Limited (Registered number: 00492222)

Statement of Financial Position - continued
30 September 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 December 2024 and were signed on its behalf by:





C J Gridley - Director


Bben Development Company Limited (Registered number: 00492222)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Bben Development Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

Bben Development Company Limited (Registered number: 00492222)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 33,675
DEPRECIATION
At 1 October 2023 22,921
Charge for year 1,612
At 30 September 2024 24,533
NET BOOK VALUE
At 30 September 2024 9,142
At 30 September 2023 10,754

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 3,600,000
Revaluations 70,000
At 30 September 2024 3,670,000
NET BOOK VALUE
At 30 September 2024 3,670,000
At 30 September 2023 3,600,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2013 2,890,000
Valuation in 2014 50,000
Valuation in 2015 70,000
Valuation in 2018 5,000
Valuation in 2019 180,000
Valuation in 2020 195,000
Valuation in 2021 (30,000 )
Valuation in 2022 125,000
Valuation in 2023 115,000
Valuation in 2024 70,000
3,670,000

Bben Development Company Limited (Registered number: 00492222)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

5. INVESTMENT PROPERTY - continued

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,155,630 2,155,630

Investment property was valued on an open market basis on 30 September 2022 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 24,074 43,692
Other debtors 23,533 20,592
47,607 64,284

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 64,516 93,020
Trade creditors 128,525 61,342
Amounts owed to group undertakings 342,258 280,175
Taxation and social security 13,645 24,000
Other creditors 549,393 528,478
1,098,337 987,015

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 68,742 98,077
Amounts owed to group undertakings 500,000 500,000
568,742 598,077

Bben Development Company Limited (Registered number: 00492222)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 133,258 191,097

The bank loans are secured by fixed and floating charges over the assets of the company.

The bank loans are repayable by instalments

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
740 Ordinary £1 740 740
7,400 Deferred £1 7,400 7,400
8,140 8,140

11. RESERVES
Revaluatio
reserve
£   
At 1 October 2023
and 30 September 2024 1,329,369

12. RELATED PARTY DISCLOSURES

Gallus Properties Limited has common directors with Bben Development Company Limited.

Gallus Properties Limited invoiced Bben Development Company Limited the amount of £80,790 in 2024 (2023: £85,081) in respect of Professional services.

At the balance sheet date Bben Development Company Limited owed Gallus Properties Limited £300,000 (2023: £780,175). Interest has been charged on this at 5%, totalling £42,830 for 2024 (2023: £37,259).

13. ULTIMATE CONTROLLING PARTY

The controlling party is C J Gridley.

The company is controlled by Mr CJ Gridley due to his shareholdings in the ultimate and immediate parent companies.