pinacle 6.0
2017.03.01
BENEFOOT (UK) LTD
04375696
2016-04-01
2017-03-31
false
04375696
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2017-03-31
04375696
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2017-03-31
04375696
frs:RetainedEarningsAccumulatedLosses
2017-03-31
04375696
frs:ShareCapital
2017-03-31
04375696
2017-03-31
04375696
uk-bus:AuditExempt-NoAccountantsReport
2016-04-01
2017-03-31
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uk-bus:Director1
2016-04-01
2017-03-31
04375696
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2016-04-01
2017-03-31
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2016-04-01
2017-03-31
04375696
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2017-03-31
04375696
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2017-03-31
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2017-03-31
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2016-03-31
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FILLETED FINANCIAL STATEMENTS
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COMPANY REGISTRATION NUMBER - 04375696
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1. |
BENEFOOT (UK) LIMITED
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COMPANY NUMBER - 04375696
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BALANCE SHEET AS AT
31 MARCH 2017
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2017 |
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2016 |
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|
---- |
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---- |
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Notes |
£ |
£ |
£ |
£ |
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FIXED ASSETS
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Tangible assets |
4 |
|
24,525
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|
22,796
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CURRENT ASSETS
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Stocks |
|
440,491
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498,339
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Debtors |
5 |
619,733
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621,021
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Cash at bank and in hand |
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290,353
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197,492
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1,350,577
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1,316,852
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CURRENT LIABILITIES
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CREDITORS - Amounts |
falling due within one year |
6 |
162,782
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177,129
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|
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NET CURRENT ASSETS
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1,187,795
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1,139,723
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TOTAL ASSETS LESS CURRENT LIABILITIES
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1,212,320
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1,162,519
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Provisions for liabilities
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Deferred taxation |
7 |
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(3,641) |
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(3,184) |
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NET ASSETS
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1,208,679
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1,159,335
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CAPITAL AND RESERVES
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Called up share capital |
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160
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160
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Profit and loss account |
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1,208,519
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1,159,175
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SHAREHOLDERS' FUNDS
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1,208,679
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1,159,335
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These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies. In accordance with section 444 of the Companies Act 2006, the directors' report and the profit and loss account have not been delivered.
For the financial year ended 31 March 2017, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.
The members have not required the company to obtain an audit.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Approved by the board of directors on20 December 2017
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and signed on their behalf by: |
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S A Lachs
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The notes on pages 2 to 5 form an integral part of these accounts.
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2. |
BENEFOOT (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 MARCH 2017
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1. COMPANY INFORMATION
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Benefoot Limited is a Private Company, limited by shares, domiciled in England and Wales, registration number 04375696.
The company's registered office is Units 1-3, Branson Street, Manchester, M40 7FP .
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2. ACCOUNTING POLICIES
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BASIS OF ACCOUNTING
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 9.
The financial statements are presented in pounds sterling, which is the functional currency of the entity.
Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:
Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Monetary 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 the transaction. Exchange differences are taken into account in arriving at the operating profit.
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LEASES AND HIRE PURCHASE CONTRACTS
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Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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3. |
BENEFOOT (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 MARCH 2017
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DEFERRED TAXATION
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Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and corresponding tax bases used in the computation of the of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discount basis.
Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
The average number of persons employed by the company (including directors) during the year was 23 (2016 - 22).
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4. |
BENEFOOT (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 MARCH 2017
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4. FIXED ASSETS - TANGIBLE
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Plant and |
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Machinery |
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etc. |
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Cost or valuation
|
£
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At 01 April 2016 |
99,948 |
Additions |
12,653 |
Disposals |
(264) |
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At 31 March 2017 |
112,337 |
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Depreciation
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At 01 April 2016 |
77,152 |
Charge for year |
10,725 |
On disposals |
(65) |
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At 31 March 2017 |
(87,812) |
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Net book values
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At 31 March 2017 |
24,525 |
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At 01 April 2016 |
22,796 |
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|
|
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2017 |
|
2016 |
|
---- |
|
---- |
|
£ |
|
£ |
5. DEBTORS
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Due within one year: |
Trade debtors |
443,280
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442,354
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Other debtors |
176,453 |
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178,667 |
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619,733
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|
621,021
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Included in other debtors are directors' overdrawn current accounts:- |
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Maximum |
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01:04:16 |
31:03:17 |
in year |
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|
|
|
£ |
£ |
£ |
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S A Lachs |
|
8,340 |
2,530 |
8,340 |
I H Lachs |
|
|
8,316 |
8,316 |
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5. |
BENEFOOT (UK) LIMITED
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 31 MARCH 2017
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6. CREDITORS
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Amounts falling due within one year: |
Trade creditors |
60,908
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105,907
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Taxation and social security |
84,006
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|
49,219
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Director's Current Accounts |
200
|
|
1,884
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Other creditors |
17,668
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20,119
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|
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162,782 |
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177,129 |
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7. DEFERRED TAXATION
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At 01 April 2016 |
3,184 |
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3,184 |
Charged to profit and loss account |
457 |
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1,080 |
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At 31 March 2017 |
3,641 |
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4,264 |
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8. FINANCIAL COMMITMENTS
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At 31 March 2017 the company had annual commitments of £72,000 under non-cancellable operating leases.
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9. IMPACT OF FIRST YEAR ADOPTION OF FRS102
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The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.