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REGISTERED NUMBER: 07981833 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

BENCH INVESTMENTS LTD

BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BENCH INVESTMENTS LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: Mr B P Chadwick





REGISTERED OFFICE: Suit 90 Courthill House
60 Water Lane
Wilmslow
Cheshire
SK9 5AJ





REGISTERED NUMBER: 07981833 (England and Wales)





ACCOUNTANTS: Jones Harris Limited
17 St Peters Place
Fleetwood
Lancashire
FY7 6EB

BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 1 1
Investments 5 1 1
Investment property 6 2,280,000 1,665,000
2,280,002 1,665,002

CURRENT ASSETS
Debtors 7 92,864 57,513
Cash at bank 9,020 41,798
101,884 99,311
CREDITORS
Amounts falling due within one year 8 (22,944 ) (39,033 )
NET CURRENT ASSETS 78,940 60,278
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,358,942

1,725,280

CREDITORS
Amounts falling due after more than one
year

9

(1,250,000

)

(1,206,262

)

PROVISIONS FOR LIABILITIES (160,895 ) (31,029 )
NET ASSETS 948,047 487,989

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 931,455 240,150
Retained earnings 16,492 247,739
SHAREHOLDERS' FUNDS 948,047 487,989

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

BALANCE SHEET - continued
31 March 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 director and authorised for issue on 19 March 2025 and were signed by:





Mr B P Chadwick - Director


BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Bench Investments Ltd 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.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

No depreciation is provided on investment properties which is a departure from the requirements of the Companies Act 2006. In the opinion of the directors these properties are held primarily for their investment potential and so their current value is of more significance than any measure of consumption and to depreciate them would not give a true and fair view. The provisions of FRS102 Section 1A (effective January 2016) in respect of investment properties have therefore been adopted in order to give a true and fair view. If this departure from the Act had not been made, the profit for the year would have been reduced by depreciation. However the amount of the depreciation cannot reasonably be quantified and the amount which might otherwise have been shown cannot be separately identified or quantified.

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 balance sheet date.


BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Operating lease income
Operating lease income is included in other operating income on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 620 1,910 2,530
DEPRECIATION
At 1 April 2023
and 31 March 2024 620 1,909 2,529
NET BOOK VALUE
At 31 March 2024 - 1 1
At 31 March 2023 - 1 1

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,665,000
Disposals (135,000 )
Revaluations 750,000
At 31 March 2024 2,280,000
NET BOOK VALUE
At 31 March 2024 2,280,000
At 31 March 2023 1,665,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2013 67,288
Valuation in 2015 468,062
Valuation in 2022 (264,172 )
Valuation in 2024 691,306
Cost 1,317,516
2,280,000

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

2024 2023
£    £   
Cost 1,317,516 1,393,822

Investment property was valued on an open market basis on 27 September 2023 by Avison Young (UK) Limited .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 36
Directors' current accounts 81,568 46,181
Tax 11,296 11,296
92,864 57,513

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Tax 18,003 24,714
Social security and other taxes - 7,453
Accruals and deferred income 4,941 6,866
22,944 39,033

BENCH INVESTMENTS LTD (REGISTERED NUMBER: 07981833)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 1,250,000 1,206,262

Bank loans outstanding at the year end amounted to £1,250,000 (2023 - £1,206,262) and include instalments due after more than five years of £Nil (2023- £Nil).

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 1,250,000 1,206,262

The bank loan is secured over the company's properties and a cross guarantee from Derby Hill Investments Limited, a related party, by way of a charge over certain of it's properties.

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023 240,150
Transfer 691,305

At 31 March 2024 931,455

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr B P Chadwick
Balance outstanding at start of year 46,181 32,167
Amounts advanced 118,805 53,224
Amounts repaid (83,419 ) (39,210 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,567 46,181

The loan to the director is unsecured and repayable on demand. Interest is being charged at the HMRC rate for beneficial loan arrangements.