2023-09-012024-08-312024-08-31false06322576CLIFFORD BENJAMIN 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CLIFFORD BENJAMIN LIMITED

Registered Number
06322576
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

CLIFFORD BENJAMIN LIMITED
Company Information
for the year from 1 September 2023 to 31 August 2024

Directors

ELLIS, Elizabeth
HAKIM, Imran (appointed 6 September 2024)

Registered Address

Unit 317 India Mill Business Centre
Darwen
BB3 1AE

Registered Number

06322576 (England and Wales)
CLIFFORD BENJAMIN LIMITED
Statement of Financial Position
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets4271,042236,068
Investment property5159,623159,623
430,665395,691
Current assets
Stocks682,21192,579
Debtors762,76256,136
Cash at bank and on hand7,4402,011
152,413150,726
Creditors amounts falling due within one year8(177,641)(180,987)
Net current assets (liabilities)(25,228)(30,261)
Total assets less current liabilities405,437365,430
Creditors amounts falling due after one year9(162,868)(182,430)
Provisions for liabilities11(33,767)(20,446)
Net assets208,802162,554
Capital and reserves
Called up share capital108108
Profit and loss account208,694162,446
Shareholders' funds208,802162,554
The financial statements were approved and authorised for issue by the Board of Directors on 26 February 2025, and are signed on its behalf by:
ELLIS, Elizabeth
Director
Registered Company No. 06322576
CLIFFORD BENJAMIN LIMITED
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
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 obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Plant and machinery25-
Fixtures and fittings25-
Vehicles25-
Office Equipment-7
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the Statement of Financial Position. They are depreciated over the shorter of their useful lives or the term of the lease. All other lease arrangements are classified as an operating lease Payments made under operating leases are charged to the Income Statement on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Government grants or assistance
Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income. Grants of a revenue nature are recognised in the Income Statement in the same period as the related expenditure.
2.Average number of employees

20242023
Average number of employees during the year1919
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 September 23212,000212,000
At 31 August 24212,000212,000
Amortisation and impairment
At 01 September 23212,000212,000
At 31 August 24212,000212,000
Net book value
At 31 August 24--
At 31 August 23--
4.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

££££££
Cost or valuation
At 01 September 23101,290155,37049,420170,540-476,620
Additions-70,932-90812,64284,482
Disposals-(800)---(800)
At 31 August 24101,290225,50249,420171,44812,642560,302
Depreciation and impairment
At 01 September 2311,23273,28515,444140,591-240,552
Charge for year2,02630,5488,4947,71672449,508
On disposals-(800)---(800)
At 31 August 2413,258103,03323,938148,307724289,260
Net book value
At 31 August 2488,032122,46925,48223,14111,918271,042
At 31 August 2390,05882,08533,97629,949-236,068
5.Investment property

£
Fair value at 01 September 23159,623
At 31 August 24159,623
6.Stocks

2024

2023

££
Raw materials and consumables82,21192,579
Total82,21192,579
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables46,13746,927
Other debtors16,625884
Prepayments and accrued income-8,325
Total62,76256,136
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables81,53071,332
Bank borrowings and overdrafts27,43544,162
Taxation and social security23,20232,103
Finance lease and HP contracts34,28124,029
Other creditors4,0402,580
Accrued liabilities and deferred income7,1536,781
Total177,641180,987
The following obligations under finance lease and hire purchase contracts £34,281 (2023: £24,029) were secured against the assets they relate to.
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts73,062104,953
Other creditors89,80677,477
Total162,868182,430
10.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts89,80677,477
The following obligations under finance lease and hire purchase contracts £89,806 (2023: £77,477) were secured against the assets they relate to.
11.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)33,76720,446
Total33,76720,446
12.Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £32,655 (2023: £12,734) . Contributions totalling £4,016 (2023: £2,315) were payable to the fund at the reporting date and are included in creditors.
13.Related party transactions
Included within other creditors is a balance of £24 (2023: creditor £83) owed to the director. This amount is interest free and repayable on demand.