Registered number
07183487
Heyburn Bennett Ltd
Filleted Accounts
5 April 2024
Heyburn Bennett Ltd
Registered number: 07183487
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 93,913 121,273
Tangible assets 4 3,077 10,642
96,990 131,915
Current assets
Debtors 5 118,927 158,408
Cash at bank and in hand 25,083 11,858
144,010 170,266
Creditors: amounts falling due within one year 6 (229,835) (235,157)
Net current liabilities (85,825) (64,891)
Total assets less current liabilities 11,165 67,024
Creditors: amounts falling due after more than one year 7 (40,200) (66,177)
Net (liabilities)/assets (29,035) 847
Capital and reserves
Called up share capital 100 100
Profit and loss account (29,135) 747
Shareholders' funds (29,035) 847
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M J Heyburn
Director
Approved by the board on 4 April 2025
Heyburn Bennett Ltd
Notes to the Accounts
for the year ended 5 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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 from 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 9
3 Intangible fixed assets £
Goodwill:
Cost
At 6 April 2023 410,400
At 5 April 2024 410,400
Amortisation
At 6 April 2023 289,127
Provided during the year 27,360
At 5 April 2024 316,487
Net book value
At 5 April 2024 93,913
At 5 April 2023 121,273
Goodwill is being written off in equal annual instalments over its estimated economic life of 15 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 6 April 2023 11,646 14,905 26,551
Additions 1,927 23,121 25,048
Disposals - (38,026) (38,026)
At 5 April 2024 13,573 - 13,573
Depreciation
At 6 April 2023 8,953 6,956 15,909
Charge for the year 1,543 - 1,543
On disposals - (6,956) (6,956)
At 5 April 2024 10,496 - 10,496
Net book value
At 5 April 2024 3,077 - 3,077
At 5 April 2023 2,693 7,949 10,642
5 Debtors 2024 2023
£ £
Trade debtors 107,510 124,612
Other debtors 11,417 33,796
118,927 158,408
6 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 2,225
Trade creditors 4,231 14,055
Corporation tax 16,056 25,602
Other taxes and social security costs 64,747 57,649
Director's Loan Account - M J Heyburn 110,623 107,418
Director's Loan Account - D A Bennett - 205
Other creditors 34,178 28,003
229,835 235,157
7 Creditors: amounts falling due after one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 5,877
Other creditors 40,200 60,300
40,200 66,177
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
D A Bennett ( deceased 4 December 2023 )
The loan is interest free and repayable on demand - 7,983 - 7,983
- 7,983 - 7,983
9 Other information
Heyburn Bennett Ltd is a private company limited by shares and incorporated in England. Its registered office is:
9 Bridge Street
Walton on Thames
Surrey
KT12 1AE
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