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Report of the Directors and |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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Benson Components Ltd |
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REGISTERED NUMBER:
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Report of the Directors and |
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Unaudited Financial Statements |
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for the Year Ended 31 December 2017 |
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for |
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Benson Components Ltd |
Benson Components Ltd (Registered number: 09270119) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2017 |
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Page |
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Company Information | 1 |
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Report of the Directors | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Benson Components Ltd |
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Company Information |
for the Year Ended 31 December 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Chartered Tax Advisors |
2nd Floor, Grove House |
774-780 Wilmslow Road |
Didsbury |
Manchester |
Greater Manchester |
M20 2DR |
Benson Components Ltd (Registered number: 09270119) |
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Report of the Directors |
for the Year Ended 31 December 2017 |
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The directors present their report with the financial statements of the company for the year ended 31 December 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the distribution of motor vehicle exhaust |
systems. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2017 to the date of this |
report. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to |
small companies. |
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ON BEHALF OF THE BOARD: |
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Benson Components Ltd (Registered number: 09270119) |
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Balance Sheet |
31 December 2017 |
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2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
Benson Components Ltd (Registered number: 09270119) |
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Balance Sheet - continued |
31 December 2017 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Benson Components Ltd (Registered number: 09270119) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2017 |
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1. | STATUTORY INFORMATION |
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Benson Components Ltd is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
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 with wholly owned subsidiaries within the group. |
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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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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. |
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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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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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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. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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Benson Components Ltd (Registered number: 09270119) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Tax |
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VAT | 119,066 | 106,621 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Amounts owed to group undertakings |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Lloyds bank | 117,934 | 62,134 |
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Lloyds Bank PLC holds a fixed and floating charge over all property or undertaking of the company. |
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Lloyds Bank Commercial Finance Limited holds a fixed and floating charge over all property or undertaking |
of the company. |
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9. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Other provisions | 77,076 | 66,470 |
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10. | OTHER FINANCIAL COMMITMENTS |
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Benson Components Ltd is committed to make rental payments to Benson Saxon Limited (a group company) |
of £24,000 per annum up to December 2026. |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party are Mr R Hewitson, Mr B Hewitson and Mr D Hewitson, the equal |
shareholders of the parent company, Final Flourish Limited. |