Registration number:
for the Year Ended
Peter Benjamin Limited
Contents
Abbreviated Balance Sheet |
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Notes to the Abbreviated Accounts |
Peter Benjamin Limited
(Registration number: 09299266)
Abbreviated Balance Sheet as at 30 November 2016
Note |
2016 |
2015 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
- |
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Provisions for liabilities |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Shareholders' (deficit)/funds |
( |
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For the year ending 30 November 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the director on
.........................................
Mr Peter Bernard Benjamin
Director
Peter Benjamin Limited
Notes to the Abbreviated Accounts
Accounting policies |
Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will remain in operational existence for the foreseeable future. Losses made during the year and continuing support of the director brings into question the going concern basis of the company.
The director intends to continue to support the company and on this basis believe that it is appropriate for the financial statements to be prepared on a going concern basis.
Turnover
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.
Revenue recognition
Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.
Goodwill
Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.
Intangible assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.
Amortisation
Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Amortised over three years commencing in 2014 |
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% on cost |
Motor vehicles |
25% on cost |
Computer equipment |
33% on cost |
Provisions
A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.
Peter Benjamin Limited
Notes to the Abbreviated Accounts
Deferred tax
Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE.
Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.
Fixed assets |
Intangible assets |
Tangible assets |
Total |
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Cost |
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At 1 December 2015 |
11,000 |
2,475 |
13,475 |
Additions |
- |
400 |
400 |
At 30 November 2016 |
11,000 |
2,875 |
13,875 |
Depreciation |
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At 1 December 2015 |
3,667 |
600 |
4,267 |
Charge for the year |
3,666 |
689 |
4,355 |
At 30 November 2016 |
7,333 |
1,289 |
8,622 |
Net book value |
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At 30 November 2016 |
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At 30 November 2015 |
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Share capital |
Allotted, called up and fully paid shares
2016 |
2015 |
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No. |
£ |
No. |
£ |
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Ordinary of £1 each |
1 |
1 |
1 |
1 |
Control |
The director is the controlling party by virtue of his controlling shareholding in the company.