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Registration number: 14917538

Ben’s Plaice Millbrook Ltd

Unaudited Filleted Financial Statements

for the Period from 6 June 2023 to 31 October 2024

 

Ben’s Plaice Millbrook Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 7

 

Ben’s Plaice Millbrook Ltd

(Registration number: 14917538)
Statement of Financial Position as at 31 October 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

21,306

Current assets

 

Stocks

5

1,500

Debtors

6

25,583

Cash at bank and in hand

 

31,048

 

58,131

Creditors: Amounts falling due within one year

7

(61,494)

Net current liabilities

 

(3,363)

Total assets less current liabilities

 

17,943

Provisions for liabilities

(4,048)

Net assets

 

13,895

Capital and reserves

 

Called up share capital

100

Profit and loss account

13,795

Shareholders' funds

 

13,895

For the financial period ending 31 October 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 and 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 director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 6 March 2025
 


Mr B J Willcocks
Director

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 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:
9 West Street
Millbrook
Torpoint
PL10 1AA

Principal activity

The principal activity of the company is that of a fish and chip shop.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

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

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

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

Plant and machinery

20% reducing balance

Office equipment

25% straight line

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 2024 (continued)

2

Accounting policies (continued)

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 10.

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 2024 (continued)

4

Tangible assets

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

Additions

25,117

1,616

26,733

At 31 October 2024

25,117

1,616

26,733

Depreciation

Charge for the period

5,024

403

5,427

At 31 October 2024

5,024

403

5,427

Carrying amount

At 31 October 2024

20,093

1,213

21,306

5

Stocks

2024
£

Finished goods and goods for resale

1,500

6

Debtors

Note

2024
£

Amounts owed by related parties

10

22,750

Prepayments

 

2,300

Accrued income

 

533

 

25,583

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Trade creditors

 

1,499

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

34,706

Taxation and social security

 

16,053

Accruals and deferred income

 

6,094

Other creditors

 

3,142

 

61,494

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of financial commitments not included in the statement of financial position is £25,674.

10

Related party transactions

Transactions with the director

2024

At 6 June 2023
£

Advances to director
£

Repayments by director
£

At 31 October 2024
£

Director

-

(40,602)

40,602

-

         
       

 

Ben’s Plaice Millbrook Ltd

Notes to the Unaudited Financial Statements for the Period from 6 June 2023 to 31 October 2024 (continued)

10

Related party transactions (continued)

 

Loans to related parties

2024

Entities with joint control or significant influence
£

Total
£

Advanced

22,750

22,750

At end of period

22,750

22,750

Loans from related parties

2024

Parent
£

Total
£

Advanced

35,000

35,000

Repaid

(294)

(294)

At end of period

34,706

34,706

11

Parent and ultimate parent undertaking

The company's immediate parent is Ben's Plaice Limited, incorporated in England and Wales.