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Bennett Electrical (Northampton) Limited

Registered Number
12305698
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

Bennett Electrical (Northampton) Limited
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

Mr J Bennett
Mr G R Bossart

Registered Address

39 Manor Road
Pitsford
Northampton
NN6 9AR

Registered Number

12305698 (England and Wales)
Bennett Electrical (Northampton) Limited
Balance Sheet as at
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets362,13730,779
62,13730,779
Current assets
Stocks4-5,500
Debtors5126,86626,948
Cash at bank and on hand212,866147,644
339,732180,092
Creditors amounts falling due within one year6(125,245)(64,188)
Net current assets (liabilities)214,487115,904
Total assets less current liabilities276,624146,683
Creditors amounts falling due after one year7(17,668)(28,196)
Provisions for liabilities9(15,535)(5,848)
Net assets243,421112,639
Capital and reserves
Called up share capital100100
Profit and loss account243,321112,539
Shareholders' funds243,421112,639
The financial statements were approved and authorised for issue by the Board of Directors on 30 June 2025, and are signed on its behalf by:
Mr J Bennett
Director
Registered Company No. 12305698
Bennett Electrical (Northampton) Limited
Notes to the Financial Statements
for the year ended 31 December 2024

1.Accounting policies
Statutory information
Bennett Electrical (Northampton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 39 Manor Road, The Old House, Pitsford, Northampton, NN6 9AR.
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.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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:

Reducing balance (%)Straight line (years)
Vehicles25-
Office Equipment-3
Impairment of non-financial assets policy
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.
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 balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
Related parties
For the purposes of these financial statements, careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year64
3.Tangible fixed assets

Vehicles

Office Equipment

Total

£££
Cost or valuation
At 01 January 2441,5931,99643,589
Additions49,8293,07352,902
At 31 December 2491,4225,06996,491
Depreciation and impairment
At 01 January 2412,00580512,810
Charge for year19,8541,69021,544
At 31 December 2431,8592,49534,354
Net book value
At 31 December 2459,5632,57462,137
At 31 December 2329,5881,19130,779
4.Stocks

2024

2023

££
Work in progress-5,500
Total-5,500
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables100,45115,802
Other debtors15,8418,898
Prepayments and accrued income10,5742,248
Total126,86626,948
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables30,31024,540
Bank borrowings and overdrafts6,0006,000
Taxation and social security67,77023,015
Other creditors21,16510,633
Total125,24564,188
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,5008,500
Other creditors15,16819,696
Total17,66828,196
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts15,16819,696
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)15,5355,848
Total15,5355,848
10.Operating lease commitments
At 31 December 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £48,224 (2023 – £0).
11.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr J Bennett8,34835,25534,3959,208
8,34835,25534,3959,208