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Financial Statements |
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for the Year Ended 30 September 2018 |
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for |
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Ernest Bennett & Company (Darlington) |
Limited |
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REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 30 September 2018 |
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for |
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Ernest Bennett & Company (Darlington) |
Limited |
Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Ernest Bennett & Company (Darlington) |
Limited |
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Company Information |
for the Year Ended 30 September 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
& Statutory Auditors |
140 Coniscliffe Road |
DARLINGTON |
County Durham |
DL3 7RT |
Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Balance Sheet |
30 September 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 10 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors on
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Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2018 |
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1. | STATUTORY INFORMATION |
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Ernest Bennett & Company (Darlington) Limited is a
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and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" |
of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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There were no material departures from that standard. |
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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. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Income recognition |
Income is recognised when goods have been delivered to/collected by the customer. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks |
Stocks are valued at the lower of cost and selling price less estimated costs to sell, after making due allowance |
for obsolete and slow moving items. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except |
to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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Leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held |
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases |
are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element |
of the future payments is treated as a liability. |
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Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 October 2017 |
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Additions |
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Disposals |
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( |
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At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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Eliminated on disposal |
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At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
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COST |
At 1 October 2017 |
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Transfer to ownership | (49,100 | ) |
At 30 September 2018 |
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DEPRECIATION |
At 1 October 2017 |
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Charge for year |
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Transfer to ownership | (22,861 | ) |
At 30 September 2018 |
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NET BOOK VALUE |
At 30 September 2018 |
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At 30 September 2017 |
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5. | STOCKS |
2018 | 2017 |
£ | £ |
Finished goods |
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Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Hire purchase contracts (see note 8) |
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Trade creditors |
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Corporation tax |
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Taxation and social security |
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Other creditors |
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Directors' current accounts | - | 91 |
Accruals and deferred income |
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8. | LEASING AGREEMENTS |
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Minimum lease payments fall due as follows: |
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Hire purchase contracts |
2018 | 2017 |
£ | £ |
Net obligations repayable: |
Within one year |
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Non-cancellable operating |
leases |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Hire purchase contracts | - | 1,751 |
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Hire purchase contracts are secured on the assets to which they relate. |
Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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10. | PROVISIONS FOR LIABILITIES |
2018 | 2017 |
£ | £ |
Deferred tax | 131,357 | 131,357 |
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Deferred |
tax |
£ |
Balance at 1 October 2017 |
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Balance at 30 September 2018 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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A Ordinary | £1 | 10 | 10 |
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B Ordinary | £1 | 10 | 10 |
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C Ordinary | £1 | 10 | 10 |
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D Ordinary | £1 | 10 | 10 |
10 | E Ordinary | £1 | 10 | 10 |
10 | F Ordinary | £1 | 10 | 10 |
56 | G Ordinary | £1 | 56 | 56 |
34 | H Ordinary | £1 | 34 | 34 |
150 | 150 |
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The 'A', 'B', 'C', 'D', 'E', 'F', 'G' and 'H' shares shall constitute different classes of shares for the purposes of the |
Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same rights |
and rank pari passu in all respects except that the directors shall be entitled to pay such different dividend of the |
'A', 'B', 'C', 'D', 'E', 'F', 'G' and 'H' shares as they shall from time to time decide. |
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12. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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13. | CAPITAL COMMITMENTS |
2018 | 2017 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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14. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party |
transactions which are under normal market conditions. |
Ernest Bennett & Company (Darlington) |
Limited (Registered number: 00822990) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2018 |
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14. | RELATED PARTY DISCLOSURES - continued |
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2018 | 2017 |
£ | £ |
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Amounts due to director | - | 91 |
No interest has been charged. |