REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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HJ BENNETT LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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HJ BENNETT LIMITED |
HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Accountants' Report | 9 |
HJ BENNETT LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Pyle House |
136/137 Pyle Street |
Newport |
Isle of Wight |
PO30 1JW |
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BANKERS: |
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101 St James Street |
Newport |
Isle of Wight |
PO30 1HX |
HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 8 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their 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. |
HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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BALANCE SHEET - continued |
31 MARCH 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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HJ Bennett Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, net of returns and value added |
taxes. The company recognises income when the significant risks and rewards of ownership have been |
transferred to the buyer and the amount of revenue can be measured reliably. |
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Tangible assets |
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Plant & machinery | - |
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Motor vehicles | - |
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Tangible fixed assets are stated at cost less any accumulated depreciation and any accumulated impairment |
losses. Cost includes costs directly attributable to making the asset capable of operating as intended by |
management. |
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No depreciation is provided on the freehold property as the company follows a programme of regular |
maintenance, which includes the reinstatement of the fabric of the building, where necessary, in order to |
maintain it to a high standard. Accordingly, in the opinion of the directors, any element of depreciation would |
be immaterial and consequently no provision has been made. |
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No depreciation is provided on freehold land. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes |
all costs of purchase, cost of conversion and other costs incurred in bringing stock to its present location and |
condition. Cost in calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and |
slow-moving stock where appropriate. |
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HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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2. | ACCOUNTING POLICIES - continued |
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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Leases that do not transfer all the risks and rewards are classified as operating leases. Rental payments under |
operating leases are charged to the income statement on a straight line basis over the term of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid |
the company has no further payment obligations. Amounts not paid at the year end are shown in other |
creditors. The assets of the plan are held separately from the company in independently administered funds. |
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Employment benefits |
Short term benefits, including holiday pay, are recognised in the period in which the service is received. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant & | Motor |
property | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2019 |
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Additions |
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Disposals |
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At 31 March 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Charge for year |
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Eliminated on disposal |
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At 31 March 2020 |
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NET BOOK VALUE |
At 31 March 2020 |
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At 31 March 2019 |
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Included in cost of land and buildings is freehold land of £ 410,000 (2019 - £ 410,000 ) which is not |
depreciated. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
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Included within other creditors is £115,889 relating to redundancy payments where notices were given to a |
significant number of staff before the year end. |
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7. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
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Between one and five years |
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8. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax |
Tax losses carried forward | ( |
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Accelerated capital allowances | 131,563 | 136,371 |
102,268 | 136,371 |
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Other provisions | 120,000 | - |
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Aggregate amounts | 222,268 | 136,371 |
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Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 April 2019 |
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Provided during year | ( |
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Balance at 31 March 2020 |
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The company is currently defending a legal prosecution brought about by the Health and Safety Executive in |
relation to an incident which occurred in 2016. There are two charges and a guilty plea has been put forward |
resulting in potential fines of £180,000 less an automatic reduction of a third. As a result the most reliable |
estimate available is £120,000 which has been included in the accounts as a provision. The outcome of the fine |
is likely to be known in August or September 2020. |
HJ BENNETT LIMITED (REGISTERED NUMBER: 04591785) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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9. | POST BALANCE SHEET EVENTS |
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In the post balance period the company has significantly reduced its operation with a view to creasing trade |
within the next 12 months. |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
HJ BENNETT LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements |
and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of HJ Bennett Limited for the year ended 31 March 2020 which comprise the Income Statement, |
Balance Sheet and the related notes from the company's accounting records and from information and explanations you |
have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the Board of Directors of HJ Bennett Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of HJ Bennett Limited and state those matters that we have agreed to state to the Board of Directors of HJ Bennett Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than HJ Bennett Limited and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that HJ Bennett Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of HJ Bennett Limited. You consider that HJ Bennett Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of HJ Bennett Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Pyle House |
136/137 Pyle Street |
Newport |
Isle of Wight |
PO30 1JW |
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