2023-08-012024-07-312024-07-31false12716634Albemarle Bennick 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Albemarle Bennick Ltd

Registered Number
12716634
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2024

Albemarle Bennick Ltd
Company Information
for the year from 1 August 2023 to 31 July 2024

Directors

Jason Borrows
Daniel Isaacs

Registered Address

2nd Floor 10-12 Bourlet Close
London
W1W 7BR

Registered Number

12716634 (England and Wales)
Albemarle Bennick Ltd
Balance Sheet as at
31 July 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3600,000600,000
600,000600,000
Current assets
Debtors413,979400
Cash at bank and on hand7,81714,929
21,79615,329
Creditors amounts falling due within one year5(546,100)(539,887)
Net current assets (liabilities)(524,304)(524,558)
Total assets less current liabilities75,69675,442
Provisions for liabilities6(22,632)(22,632)
Net assets53,06452,810
Capital and reserves
Called up share capital400400
Revaluation reserve67,89667,896
Profit and loss account(15,232)(15,486)
Shareholders' funds753,06452,810
The financial statements were approved and authorised for issue by the Board of Directors on 17 April 2025, and are signed on its behalf by:
Jason Borrows
Director
Registered Company No. 12716634
Albemarle Bennick Ltd
Notes to the Financial Statements
for the year ended 31 July 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.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the net value of rent received as per rental agreement
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
Investment properties are stated at their open market valuations which according to the directors reflect the fair value at the reporting date. Changes to the fair value of the property at each reporting date are recognised in the profit and loss account. No description is provided in respect of freehold properties which are classified as investment properties. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held to earn rentals or for capital appreciation and the director consider that to depreciate them would not give a true and fair view. In the opinion of directors' the adoption of this policy has no material impact on result of the year.
Trade and other 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.
Trade and other 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.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 August 23600,000600,000
At 31 July 24600,000600,000
Net book value
At 31 July 24600,000600,000
At 31 July 23600,000600,000
Freehold land and buildings: 2024 2023 Historical cost £509,472 £509,472 The investment property was valued by the directors of the company and the amount shown reflects the fair market value at the balance sheet date.
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables13,652-
Other debtors-400
Prepayments and accrued income327-
Total13,979400
5.Creditors: amounts due within one year

2024

2023

££
Other creditors544,600538,387
Accrued liabilities and deferred income1,5001,500
Total546,100539,887
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)22,63222,632
Total22,63222,632
7.Revaluation reserve

£
Reserve at 01 August 2367,896
At 31 July 2467,896
8.Controlling party
There is no ultimate controlling party.