Benchley Management Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 08806613 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

BENCHLEY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

P N Marson

REGISTERED OFFICE:

The Kensington Centre

66 Hammersmith Road

London

W14 8UD

REGISTERED NUMBER:

08806613 (England and Wales)

ACCOUNTANTS:

COLIN GRAY & CO LIMITED

Chartered Accountants

Hardy House

Northbridge Road

Berkhamsted

Hertfordshire

HP4 1EF

FIXED ASSETS

Investment property

4

5,375,000

5,375,000

CURRENT ASSETS

Cash at bank

43,009

7,766

CREDITORS

Amounts falling due within one year

5

2,032,632

1,964,547

NET CURRENT LIABILITIES

(1,989,623

)

(1,956,781

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,385,377

3,418,219

CREDITORS

Amounts falling due after more than one year

6

(2,922,044

)

(3,045,584

)

PROVISIONS FOR LIABILITIES

7

(238,249

)

(238,249

)

NET ASSETS

225,084

134,386

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

225,083

134,385

SHAREHOLDERS' FUNDS

225,084

134,386

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 26 September 2018 and were signed by:

P N Marson - Director

1.	STATUTORY INFORMATION

Benchley Management 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 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 as modified by the revaluation of certain assets.

The directors have prepared the financial statements on a going concern basis as they have confirmed their

continual support together with the continual support of the other group companies.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

The investment property has been included in the accounts at its fair value.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2016 - 2 ).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2017

and 31 December 2017

5,375,000

NET BOOK VALUE

At 31 December 2017

5,375,000

At 31 December 2016

5,375,000

Fair value at 31 December 2017 is represented by:

£

Valuation in 2016

1,253,941

Cost

4,121,059

5,375,000

If the investment property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

4,121,059

4,121,059

The investment property was valued on an open market basis on 31 December 2017 by the directors .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

21,267

43,997

Amounts owed to group undertakings

1,954,428

1,920,550

Other creditors

56,937

-

2,032,632

1,964,547

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

2,922,044

3,045,584

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

238,249

238,249

Deferred

tax

£

Balance at 1 January 2017

238,249

Balance at 31 December 2017

238,249

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

9.

RESERVES

Retained earnings represents cumulative profits and losses, including the unrealised profit on the revaluation of

investment properties. Within retained earnings at 31st December 2017 is £1,015,692 which is the amount of the

property revaluation less the charge to deferred taxation on that surplus.