Company Registration No. 07924261 (England and Wales)
Bennamann Ltd
Unaudited accounts
for the year ended 31 January 2020
Bennamann Ltd
Unaudited accounts
Contents
Bennamann Ltd
Company Information
for the year ended 31 January 2020
Directors
James William Foote
Emma Jane Haskett
Matthew Charles Seabrook Herritage
Christopher Mark Mann
Jaykumar Purohit
Thomas William Bradshaw
Giulio Contaldi
Matthew Hague
William Wynn
Company Number
07924261 (England and Wales)
Registered Office
Chynoweth Farm
St Allen
Truro
Cornwall
TR4 9DG
Accountants
David G Wright
Chy Praze
Chynowen Lane
Cubert
Cornwall
TR8 5HE
Bennamann Ltd
Statement of financial position
as at 31 January 2020
Cash at bank and in hand
37,449
531,783
Creditors: amounts falling due within one year
(450,152)
9,602
Net current assets
119,642
630,388
Total assets less current liabilities
119,642
630,388
Creditors: amounts falling due after more than one year
(913,625)
(494,722)
Net (liabilities)/assets
(793,983)
135,666
Called up share capital
12,649
12,649
Share premium
1,056,951
1,056,951
Profit and loss account
(1,863,583)
(933,934)
Shareholders' funds
(793,983)
135,666
For the year ending 31 January 2020 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2020 and were signed on its behalf by
William Wynn
Director
Company Registration No. 07924261
Bennamann Ltd
Notes to the Accounts
for the year ended 31 January 2020
Bennamann Ltd is a private company, limited by shares, registered in England and Wales, registration number 07924261. The registered office is Chynoweth Farm, St Allen, Truro, Cornwall, TR4 9DG.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight line over 3 years.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Expenditure on research and development is written off in the year in which it is incurred.
A major part of the company's working capital is provided by shareholders. At the year end this amounted to £710,745, (2019: £494,721). The shareholders have indicated that they will not demand repayment until the company can financially support itself. There is a shareholders' agreement in place to ensure this is the case.
Deferred tax is not provided for in these accounts.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Bennamann Ltd
Notes to the Accounts
for the year ended 31 January 2020
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Tangible fixed assets
Plant & machinery
Trade debtors
30,862
71,981
Accrued income and prepayments
3,970
1,636
Other debtors
497,513
15,386
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Creditors: amounts falling due within one year
2020
2019
Taxes and social security
35,896
(51,201)
Included in the creditors above is £329,349 (2019: nil) being amounts deposited into the company by current shareholders relating to a share issue that took place on 26 February 2020.
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Creditors: amounts falling due after more than one year
2020
2019
Other creditors
913,625
494,722
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Operating lease commitments
2020
2019
At 31 January 2020 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
19,722
19,722
Within two to five years
72,312
38,722
Bennamann Ltd
Notes to the Accounts
for the year ended 31 January 2020
9
Transactions with related parties
At the year end the company owed the directors and their immediate family £464,776 (2019: £248,752)
The above will continue to support the company with the above loans. These are long term loans. No repayment date is set. No interest is charged.
At the year end there were loans of £321,598 (2019: £974) to companies under common control. No interest is charged.
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Average number of employees
During the year the average number of employees was 28 (2019: 22).
