Benjamin Clowes Limited Accounts

BENJAMIN CLOWES LIMITED - Company Information






Benjamin Clowes Limited

	Company No. 01637991
		Information for Filing with The Registrar
		31 March 2019

at	31 March 2019
Company No.		01637991	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		3	262	1,196


				262	1,196
Current assets
	Work in progress		4	3,000	14,000
	Debtors		5	69,458	11,078

	Cash at bank and in hand			4,396	40,159
				76,854	65,237
Creditors: Amount falling due within one year			6	(47,881)	(47,988)
Net current assets				28,973	17,249
Total assets less current liabilities				29,235	18,445




Net assets				29,235	18,445

Capital and reserves
	Called up share capital			100	10,000



	Profit and loss account		7	29,135	8,445

Total equity				29,235	18,445


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 19 July 2019
And signed on its behalf by:
H.B.B. Clowes
Director

for the year ended 31 March 2019

Accounting policies

Basis of preparation

The accounts have been prepared 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) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

25% Straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Employees
			2019	2018
			Number	Number
		The average number of persons employed during the year :	2	2

3	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 April 2018	48,799	48,799



		Disposals	(9,295)	(9,295)
		At 31 March 2019	39,504	39,504
		Depreciation
		At 1 April 2018	47,603	47,603
		Charge for the year	934	934


		Disposals	(9,295)	(9,295)
		At 31 March 2019	39,242	39,242
		Net book values
		At 31 March 2019	262	262
		At 31 March 2018	1,196	1,196

4	Work in progress
			2019	2018
			£	£

		Work in progress	3,000	14,000

			3,000	14,000

5	Debtors
			2019	2018
			£	£
		Trade debtors	46,589	10,394




		Loans to directors	21,689	-
		Other debtors	1,000	-
		Prepayments and accrued income	180	684
			69,458	11,078

6	Creditors:
		amounts falling due within one year
			2019	2018
			£	£






		Corporation tax	32,211	21,711
		Other taxes and social security	13,552	11,890
		Loans from directors	-	10,002
		Other creditors	1,097	3,792
		Accruals and deferred income	1,021	593
			47,881	47,988

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

8	Dividends
			2019	2018
			£	£
		Dividends for the period:
		Dividends paid in the period	106,275	76,900

			106,275	76,900

		Dividends by type:

		Equity dividends	106,275	76,900
			106,275	76,900

9	Advances and credits to directors
		Included within Other debtors are the following loans to directors:

		Director	Description	At 1 April 2018	Advanced	Repaid	At 31 March 2019
				£	£	£	£

		H.B.B. Clowes	The loan was fully paid off by the 19th July 2019. Interest is paid @ 2.5% pa.	-	21,689	-	21,689






































				-	21,689	-	21,689

Related party disclosures

Name of related party

H.B.B. Clowes

Description of relationship between the parties

Director

Description of transaction and general amounts involved

The directors rent out part of their main residenvce to the company at an open market value rent of £6500 per annum.

Amount due from/(to) the related party

Provision for doubtful debts due from the related party

Amounts written off in the period in respect of debts from/(to) the related party

Additional information

Its registered number is:

01637991

Preston Court

Preston-on-Wye

Hereford

HR2 9JU