G P Benson Limited - Accounts to registrar (filleted) - small 23.1

REGISTERED NUMBER: 09054553 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

G P Benson Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr G P Benson

REGISTERED OFFICE:

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

REGISTERED NUMBER:

09054553 (England and Wales)

ACCOUNTANTS:

Benson Accountants

The Mill

Station Road

Wigton

Cumbria

CA7 9BA

FIXED ASSETS

Intangible assets

4

30,507

55,000

Tangible assets

5

5,369

2,098

35,876

57,098

CURRENT ASSETS

Stocks

65,536

55,559

Debtors

6

409,486

213,014

Cash at bank

229,891

147,999

704,913

416,572

CREDITORS

Amounts falling due within one year

7

294,661

186,413

NET CURRENT ASSETS

410,252

230,159

TOTAL ASSETS LESS CURRENT LIABILITIES

446,128

287,257

CREDITORS

Amounts falling due after more than one year

8

(26,016

)

(35,872

)

PROVISIONS FOR LIABILITIES

9

(793

)

-

NET ASSETS

419,319

251,385

CAPITAL AND RESERVES

Called up share capital

10

101

101

Capital redemption reserve

101

101

Retained earnings

419,117

251,183

419,319

251,385

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 July 2023 and were signed by:

Mr G P Benson - Director

1.	STATUTORY INFORMATION

G P Benson Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 25 (2022 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

55,000

Disposals

(9,240

)

At 31 March 2023

45,760

AMORTISATION

Charge for year

15,253

At 31 March 2023

15,253

NET BOOK VALUE

At 31 March 2023

30,507

At 31 March 2022

55,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2022

36,074

Additions

6,073

At 31 March 2023

42,147

DEPRECIATION

At 1 April 2022

33,976

Charge for year

2,802

At 31 March 2023

36,778

NET BOOK VALUE

At 31 March 2023

5,369

At 31 March 2022

2,098

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

405,471

209,620

Other debtors

4,015

3,394

409,486

213,014

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

9,635

9,414

Trade creditors

2,144

988

Taxation and social security

274,882

148,006

Other creditors

8,000

28,005

294,661

186,413

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

26,016

35,872

9.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax

Accelerated capital allowances

793

-

Deferred

tax

£

Provided during year

793

Balance at 31 March 2023

793

10.	CALLED UP SHARE CAPITAL

Issues, allotted and fully paid

Class

Nominal value

At 31.3.2022(£)

At 31.3.2021(£)

"A" Ordinary

£1

100

200

"B" Ordinary

£1

1

1

101

101