BENJAMIN MOORE UK LIMITED - Accounts to registrar (filleted) - small 18.2

BENJAMIN MOORE UK LIMITED - Accounts to registrar (filleted) - small 18.2


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REGISTERED NUMBER: 09573012 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

BENJAMIN MOORE UK LIMITED

BENJAMIN MOORE UK LIMITED (REGISTERED NUMBER: 09573012)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BENJAMIN MOORE UK LIMITED

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2021







DIRECTORS: C I Shaw
D Calkins
T Griep
S O'Neill



REGISTERED OFFICE: 804 Oxford Avenue
Slough
England
SL1 4LN



REGISTERED NUMBER: 09573012 (England and Wales)



SENIOR STATUTORY AUDITOR: Rachel Davis BA FCA



AUDITORS: Just Audit Limited
Chartered Accountants & Statutory Auditor
Strelley Hall
Main Street
Strelley
Nottingham
NG8 6PE

BENJAMIN MOORE UK LIMITED (REGISTERED NUMBER: 09573012)

BALANCE SHEET
31 DECEMBER 2021

31/12/21 31/12/20
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 311,790 200,139

CURRENT ASSETS
Stocks 550,892 356,716
Debtors 5 340,619 180,531
Cash at bank and in hand 1,105,843 404,212
1,997,354 941,459
CREDITORS
Amounts falling due within one year 6 1,898,662 812,297
NET CURRENT ASSETS 98,692 129,162
TOTAL ASSETS LESS CURRENT
LIABILITIES

410,482

329,301

PROVISIONS FOR LIABILITIES 54,249 9,041
NET ASSETS 356,233 320,260

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 356,133 320,160
SHAREHOLDERS' FUNDS 356,233 320,260

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 July 2022 and were signed on its behalf by:




C I Shaw - Director



T Griep - Director


BENJAMIN MOORE UK LIMITED (REGISTERED NUMBER: 09573012)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2021

1. STATUTORY INFORMATION

BENJAMIN MOORE UK LIMITED is a private company, limited by shares, registered in England and Wales. The company's registered number is 09573012 and the registered office address is 804 Oxford Avenue, Slough, England, SL1 4LN.

The presentation currency of the financial statements is the Pound Sterling (£).

Length of period
The end of the company's previous reporting period was changed to 31 December 2020, resulting in the comparative financial statements covering a period shorter than one year. This was done in order to align the company's year end with that of its new parent company. The comparative amounts presented in the financial statements (including the related notes) are therefore not entirely comparable.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has the continued support of the group. Despite the COVID-19 pandemic the group have continued to trade well. The directors have been given assurance that this support will continue for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer (usually on despatch or retail sale of the goods).

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold improvements - Straight line over term of lease
Plant and machinery - Straight line over 7 to 10 years as appropriate
Fixtures and fittings - Straight line over 10 years
Computer equipment - Straight line over 3 years

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment loss.

Government grants
Government grants are recognised on the accruals basis, relating to the periods in which the entity recognises the cost for which the grant is intended to compensate.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


BENJAMIN MOORE UK LIMITED (REGISTERED NUMBER: 09573012)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2020 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2021 91,371 264,601 355,972
Additions 43,468 123,955 167,423
At 31 December 2021 134,839 388,556 523,395
DEPRECIATION
At 1 January 2021 38,284 117,549 155,833
Charge for year 16,295 39,477 55,772
At 31 December 2021 54,579 157,026 211,605
NET BOOK VALUE
At 31 December 2021 80,260 231,530 311,790
At 31 December 2020 53,087 147,052 200,139

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade debtors 221,159 81,810
Other debtors 119,460 98,721
340,619 180,531

BENJAMIN MOORE UK LIMITED (REGISTERED NUMBER: 09573012)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2021

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/21 31/12/20
£    £   
Trade creditors 24,339 51,585
Amounts owed to group undertakings 1,433,327 617,362
Taxation and social security 44,177 110,807
Other creditors 396,819 32,543
1,898,662 812,297

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31/12/21 31/12/20
£    £   
Within one year 205,891 180,458
Between one and five years 438,556 252,542
644,447 433,000

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/12/21 31/12/20
value: £    £   
100 Ordinary £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified.

Basis for qualified opinion
Included within the financial statements for the period ended 31 December 2020 was a comparative stock balance with a carrying amount of £413,998. The audit evidence available to us was limited because the corresponding figures were unaudited and we were unable to obtain sufficient appropriate audit evidence regarding the stock quantity and valuation at that date using other audit procedures.

Consequently we were unable to determine whether there was any consequential effect on cost of sales for the period ended 31 December 2020.

Our audit opinion on the financial statements for the period ended 31 December 2020 was modified accordingly. Our opinion on the current year's financial statements is also modified because of the possible effect of this matter on the comparability of the current year's figures and the corresponding figures.

Rachel Davis BA FCA (Senior Statutory Auditor)
for and on behalf of Just Audit Limited

10. ULTIMATE CONTROLLING PARTY

Benjamin Moore UK Limited is a subsidiary of Berkshire Hathaway Inc.

The parent company of the smallest group that draws up consolidated financial statements which include the results of Benjamin Moore UK Limited is Benjamin Moore & Co; its registered office address is 101 Paragon Drive, Montvale, New Jersey, 076451862, USA.