Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | ||||||
£ | |||||||
Fixed assets | |||||||
Tangible assets | 6 | ||||||
Current assets | |||||||
Stocks | |||||||
Debtors | 7 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 8 | ( |
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Net current liabilities | ( |
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Total assets less current liabilities | ( |
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Creditors: amounts falling due after more than one year | 9 | ( |
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Net liabilities | ( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
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Shareholders' funds | ( |
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C Chatfield | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the period from 4 August 2023 to |
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1 | Accounting policies | |||||||
2 | Company Information | |||||||
Ben Cruachan Limited is a private company limited by shares incorporated in England and Wales. The registered office is 44 Russell Square, London, London, United Kingdom, WC1B 4JP. | ||||||||
3 | Reporting Period | |||||||
The company was incorporated on 4 August 2023 and the trading commenced from September 2024 therefore the accounting period was extended to 31 December 2024. | ||||||||
Basis of preparation | ||||||||
4 | Going Concern | |||||||
At 31 December 2024 the company had net current liabilities of £411,841 and net liabilities of £740,540. After reviewing the company's forecasts and projections and taking into account the economic conditions and trading performance, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. | ||||||||
Turnover | ||||||||
Revenue for goods and services sold on site are recognised on a point of sales basis. |
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Tangible fixed assets | ||||||||
Leasehold land and buildings | Straight Line over 15 years | |||||||
Fixtures and Fittings | Straight Line over 4 years | |||||||
IT Equipment | Straight Line over 4 years | |||||||
Impairment of fixed assets | ||||||||
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. |
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Stocks | ||||||||
Financial Instruments | ||||||||
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Classification of financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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Employee Benefits | ||||||||
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. |
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Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Leased assets | ||||||||
Pensions | ||||||||
5 | Employees | 2024 | ||||||
Number | ||||||||
Average number of persons employed by the company | ||||||||
6 | Tangible fixed assets | |||||||
Land and buildings | Plant and machinery etc | Motor vehicles | Total | |||||
£ | £ | £ | £ | |||||
Cost | ||||||||
Additions | ||||||||
At 31 December 2024 | ||||||||
Depreciation | ||||||||
Charge for the period | ||||||||
At 31 December 2024 | ||||||||
Net book value | ||||||||
At 31 December 2024 | ||||||||
7 | Debtors | 2024 | ||||||
£ | ||||||||
Trade debtors | ||||||||
Other debtors | ||||||||
Amounts due after more than one year included above | ||||||||
8 | Creditors: amounts falling due within one year | 2024 | ||||||
£ | ||||||||
Trade creditors | ||||||||
Taxation and social security costs | ||||||||
Other creditors | ||||||||
9 | Creditors: amounts falling due after one year | 2024 | ||||||
£ | ||||||||
Other creditors | ||||||||
# | Called up Share Capital | 2024 | 2024 | |||||
Number | £ | |||||||
Ordinary share capital | ||||||||
Issued and fully paid | ||||||||
Ordinary A of 1p each | 10,000 | 100 | ||||||
Upon incorporation the company issued 10,000 ordinary shares at a par value of 1p each. | ||||||||
11 | Other financial commitments | 2024 | ||||||
£ | ||||||||
Total future minimum payments under non-cancellable operating leases | ||||||||