Benjemax Limited
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Registered number: |
06891329
|
Statement of financial position |
as at 31 May 2021
|
|
Notes |
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|
2021 |
|
|
2020 |
£ |
£ |
Fixed assets |
Intangible assets |
3 |
|
|
- |
|
|
3,487 |
Tangible assets |
4 |
|
|
52,825 |
|
|
58,841 |
Investments |
5 |
|
|
50 |
|
|
50 |
|
|
|
|
52,875 |
|
|
62,378 |
|
Current assets |
Stocks and work-in-progress |
|
|
100,209 |
|
|
65,099 |
Debtors |
6 |
|
291,806 |
|
|
292,964 |
Cash at bank and in hand |
|
|
94,826 |
|
|
77,247 |
|
|
|
486,841 |
|
|
435,310 |
|
Creditors: amounts falling due within one year |
7 |
|
(459,204) |
|
|
(459,549) |
|
Net current assets/(liabilities) |
|
|
|
27,637 |
|
|
(24,239) |
|
Total assets less current liabilities |
|
|
|
80,512 |
|
|
38,139 |
|
Creditors: amounts falling due after more than one year |
8 |
|
|
- |
|
|
(5,621) |
|
Provisions for liabilities |
|
|
|
(4,733) |
|
|
(9,244) |
|
|
Net assets |
|
|
|
75,779 |
|
|
23,274 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
75,679 |
|
|
23,174 |
|
Shareholders' funds |
|
|
|
75,779 |
|
|
23,274 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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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.
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|
|
|
|
Mr S H Davie |
Director |
Approved by the board on 27 April 2022
|
|
Benjemax Limited
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Notes to the financial statements |
for the year ended 31 May 2021
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|
|
1 |
Accounting policies |
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|
Basis of preparation |
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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).
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|
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable at the date of provision of service.
|
|
|
Intangible fixed assets |
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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 |
25% |
|
Straight line |
|
Motor Vehicles |
25% |
|
Straight line |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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|
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Work-in-progress |
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Stocks are work-in-progress reflects invoices raised post year end for work undertaken by 31st May 2021.
|
|
|
Debtors |
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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.
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|
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Creditors |
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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.
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|
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Taxation |
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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.
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|
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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|
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Leased assets |
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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.
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Pensions |
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Contributions to defined contribution plans are expensed in the period to which they relate.
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Government Grants |
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Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the related costs, for which it is intended to compensate, are expensed. During the year the company benefited from receipts from the UK Government under the Coronavirus Job Retention Scheme (CJRS) and infection control grants. The company further benefited from Business Rates Relief.
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|
2 |
Employees |
2021 |
|
2020 |
Number |
Number |
|
|
Average number of persons employed by the company |
209 |
|
200 |
|
|
|
|
|
|
|
|
|
|
3 |
Intangible fixed assets |
£ |
|
Franchise |
|
|
Cost |
|
At 1 June 2020 |
96,710 |
|
At 31 May 2021 |
96,710 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 June 2020 |
93,223 |
|
Provided during the year |
3,487 |
|
At 31 May 2021 |
96,710 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2021 |
- |
|
At 31 May 2020 |
3,487 |
|
|
|
|
|
|
|
|
|
|
Intangible fixed assets are being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
4 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 June 2020 |
200,742 |
|
132,791 |
|
333,533 |
|
Additions |
10,316 |
|
25,228 |
|
35,544 |
|
Disposals |
- |
|
(36,365) |
|
(36,365) |
|
At 31 May 2021 |
211,058 |
|
121,654 |
|
332,712 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 June 2020 |
168,634 |
|
106,058 |
|
274,692 |
|
Charge for the year |
15,135 |
|
14,972 |
|
30,107 |
|
On disposals |
- |
|
(24,912) |
|
(24,912) |
|
At 31 May 2021 |
183,769 |
|
96,118 |
|
279,887 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2021 |
27,289 |
|
25,536 |
|
52,825 |
|
At 31 May 2020 |
32,108 |
|
26,733 |
|
58,841 |
|
|
5 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 June 2020 |
50 |
|
|
At 31 May 2021 |
50 |
|
The company holds 50% of the ordinary share capital of an unlisted trading company, Live-in Personnel Ltd. |
|
|
6 |
Debtors |
2021 |
|
2020 |
£ |
£ |
|
|
Trade debtors |
234,550 |
|
230,719 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
|
- |
|
2,116 |
|
Other debtors |
57,256 |
|
60,129 |
|
|
|
|
|
|
291,806 |
|
292,964 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
10,928 |
|
20,558 |
|
Trade creditors |
55,864 |
|
44,230 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
133,217 |
|
143,649 |
|
Taxes and social security costs |
142,766 |
|
118,899 |
|
Other creditors |
116,429 |
|
132,213 |
|
|
|
|
|
|
459,204 |
|
459,549 |
|
|
|
|
|
|
|
|
|
|
8 |
Creditors: amounts falling due after one year |
2021 |
|
2020 |
£ |
£ |
|
|
Obligations under finance lease and hire purchase contracts |
- |
|
5,621 |
|
|
|
|
|
|
|
|
|
|
9 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
Mr S H Davie
|
|
Loan - interest charged at 4%
|
- |
|
11,332 |
|
- |
|
11,332 |
|
|
|
- |
|
11,332 |
|
- |
|
11,332 |
|
|
|
|
|
|
|
|
|
|
10 |
Related party transactions |
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Live-in Personnel Ltd: Charged to the profit and loss accounts are charges for the provision of services totalling £27,180 (2020, £9,500). Included in Creditors (group undertakings) is an amount owed of £122 (2020 debtor of £2,116). Guymajoe Ltd: Charged to the profit and loss account are charges for the provision of services totalling £12,846 (2020, £nil). Included in Creditors (group undertakings) is an amount owed of £133,095 (2020 £143,649). Balances with group undertakings are provided interest free and are repayable on demand.
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|
11 |
Controlling party |
|
|
The company is a wholly owned subsidiary of Guymajoe Ltd, which is ultimately controlled by Mr S H Davie and Mrs L V Davie.
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|
|
12 |
Other information |
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|
Benjemax Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
49a Chatterton Road |
|
Bromley |
|
Kent |
|
BR2 9QQ |