ACCOUNTS - Final Accounts

BENBOW GROUP HOLDINGS LIMITED - Company Information

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Registered number: 11626199

BENBOW GROUP HOLDINGS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2019

BENBOW GROUP HOLDINGS LIMITED

REGISTERED NUMBER:11626199

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2019

		2019
Note		£

FIXED ASSETS
Investments	4		20,000
			20,000
CURRENT ASSETS
Cash at bank and in hand		928,159
		928,159
Creditors: amounts falling due within one year	5	(306,572)
NET CURRENT ASSETS			621,587
TOTAL ASSETS LESS CURRENT LIABILITIES			641,587

NET ASSETS			641,587

CAPITAL AND RESERVES
Called up share capital			20,000
Profit and loss account			621,587
			641,587

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Nigel Roberts

Director

Date: 13 July 2020

The notes on pages 3 to 4 form part of these financial statements.

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BENBOW GROUP HOLDINGS LIMITED

REGISTERED NUMBER:11626199

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2019

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BENBOW GROUP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019

1.	GENERAL INFORMATION

Benbow Group Holdings Limited is private company limited by shares and incorporated in England (company number: 11626199). Its registered office is 1 Minerva Way, Brunel Industrial Estate, Newton Abbot, Devon, TQ12 4PJ.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

2.3

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

2.4

VALUATION OF INVESTMENTS

Investments in subsidiaries are measured at cost less accumulated impairment.

2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

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.

2.7

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

EMPLOYEES

The average monthly number of employees, including directors, during the period was 2.

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BENBOW GROUP HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 DECEMBER 2019

4.	FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	COST OR VALUATION
	Additions	20,000
	At 31 December 2019	20,000

5.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2019
		£

	Amounts owed to group undertakings	286,389
	Corporation tax	372
	Other creditors	18,611
	Accruals and deferred income	1,200
		306,572

6.	SHARE CAPITAL
		2019
		£

		ALLOTTED, CALLED UP AND FULLY PAID

		20,000 Class A shares of £1.00 each	20,000

The company was incorporated on 16th October 2018 and on incorporation issued 1 £1 ordinary share at nominal value. During the period, a further 19,999 £1 ordinary shares were issued at nominal value.

7.	RELATED PARTY TRANSACTIONS
	During the period, directors were paid dividends amounting to £180,000. The company has taken advantage of the exemption available in section 33.1A of FRS 102 not to disclose transactions with members of a 100% group.

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