Ben Z Harris Limited Company accounts

BEN Z HARRIS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 11703456

Ben Z Harris Limited

Unaudited Financial Statements

30 November 2019

Ben Z Harris Limited

Financial Statements

Year ended 30 November 2019

Contents	Page

Officers and professional advisers	1

Director's report	2

Statement of comprehensive income	3

Statement of financial position	4

Statement of changes in equity	5

Notes to the financial statements	6

Ben Z Harris Limited

Officers and Professional Advisers

Director	Mr B.Z. Harris

Registered office	56 Higher Lane
	Whitefield
	Manchester
	M45 7WE

Accountants	Downham Mayer Clarke Limited
	Chartered accountants
	41 Greek Street
	Stockport
	Cheshire
	SK3 8AX

Bankers	Starling Bank
	3rd Floor
	2 Finsbury Avenue
	London
	EC2M 2PP

Ben Z Harris Limited

Director's Report

Year ended 30 November 2019

The director presents his report and the unaudited financial statements of the company for the year ended 30 November 2019 .

Incorporation

The company was incorporated on 29 November 2018 and commenced to trade on 1 December 2018.

Director

The director who served the company during the year was as follows:

Mr B.Z. Harris

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 5 November 2020 and signed on behalf of the board by:

Mr B.Z. Harris
Director

Registered office:

56 Higher Lane

Whitefield

Manchester

M45 7WE

Ben Z Harris Limited

Statement of Comprehensive Income

Year ended 30 November 2019


	Year to
	30 Nov 19
Note	£
Turnover	59,063

	--------
Gross profit	59,063

Administrative expenses	12,199
	--------
Operating profit	46,864

Other interest receivable and similar income		4
		--------
Profit before taxation	5	46,868

Tax on profit	8,378
	--------
Profit for the financial year and total comprehensive income	38,490
	--------

All the activities of the company are from continuing operations.

The company has no other recognised items of income and expenses other than the results for the year as set out above.

Ben Z Harris Limited

Statement of Financial Position

30 November 2019

	2019
Note	£

Fixed assets

Tangible assets	6	2,895

Current assets

Debtors	7	7,873
Cash at bank and in hand		17,794
		--------
		25,667

Creditors: amounts falling due within one year	8	13,371
		--------
Net current assets		12,296
		--------
Total assets less current liabilities		15,191
		--------
Net assets		15,191
		--------

Capital and reserves

Called up share capital	1
Profit and loss account	15,190
	--------
Shareholder funds	15,191
	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 5 November 2020 , and are signed on behalf of the board by:

Mr B.Z. Harris
Director

Company registration number: 11703456

Ben Z Harris Limited

Statement of Changes in Equity

Year ended 30 November 2019

	Called up share capital	Profit and loss account	Total
	£	£	£
At 29 November 2018	–	–	–

Profit for the year		38,490	38,490
	----	--------	--------
Total comprehensive income for the year	–	38,490	38,490

Issue of shares	1	–	1
Dividends paid and payable	–	( 23,300)	( 23,300)
	----	--------	--------
Total investments by and distributions to owners	1	( 23,300)	( 23,299)

	----	--------	--------
At 30 November 2019	1	15,190	15,191
	----	--------	--------

Ben Z Harris Limited

Notes to the Financial Statements

Year ended 30 November 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Higher Lane, Whitefield, Manchester, M45 7WE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the provision of editing services is recognised when the significant risks and rewards of ownership of the product have transferred to the buyer, usually on completion of the assignment, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Furniture and fittings	-	20% reducing balance
Computer equipment	-	3 years straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 .

5. Profit before taxation

Profit before taxation is stated after charging:


	Year to
	30 Nov 19
	£
Depreciation of tangible assets	1,353
	-------

6. Tangible assets

	Furniture and fittings	Computer equipment	Total
	£	£	£
Cost
At 29 November 2018	–	–	–
Additions	475	3,773	4,248
	----	-------	-------
At 30 November 2019	475	3,773	4,248
	----	-------	-------
Depreciation
At 29 November 2018	–	–	–
Charge for the year	95	1,258	1,353
	----	-------	-------
At 30 November 2019	95	1,258	1,353
	----	-------	-------
Carrying amount
At 30 November 2019	380	2,515	2,895
	----	-------	-------

7. Debtors

	2019
	£
Trade debtors	7,500
Other debtors	373
	-------
	7,873
	-------

8. Creditors: amounts falling due within one year

	2019
	£
Corporation tax	8,378
Salaries control	837
Other creditors	4,156
	--------
	13,371
	--------