Company Registration No. 06307593 (England and Wales)
BENINGTON COMMUNITY HERITAGE TRUST
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
75 High Street Boston Lincolnshire PE21 8SX
BENINGTON COMMUNITY HERITAGE TRUST
CONTENTS
| Page | |
|---|---|
| Company information | 1 |
| Directors' report | 2 |
| Statement of comprehensive income | 3 |
| Balance sheet | 4 |
| Notes to the financial statements | 5 - 8 |
| The following pages do not form part of the financial statements | |
| Accountants' report | 9 |
| Detailed profit and loss account | 10 - 11 |
BENINGTON COMMUNITY HERITAGE TRUST
COMPANY INFORMATION
Directors Manda Crowder Caroline Greaves (Appointed 30 September 2024) Suzanne Peck Kevin Pinner Glen Reynolds (Appointed 30 September 2024)
Company number 06307593 Registered office The Beonna at All Saints Main Road Benington Boston Lincolnshire PE22 0BT Accountants TC Group 75 High Street Boston Lincolnshire PE21 8SX
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BENINGTON COMMUNITY HERITAGE TRUST
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The directors present their annual report and financial statements for the year ended 31 December 2024.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Manda Crowder Caroline Greaves (Appointed 30 September 2024) Suzanne Peck Kevin Pinner Glen Reynolds (Appointed 30 September 2024) Mr S Donnelly (Resigned 22 March 2024)
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Manda Crowder Director
30 May 2025
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BENINGTON COMMUNITY HERITAGE TRUST
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Turnover | 107,156 | 249,370 |
| Cost of sales | (33,221) | (80,483) |
| Gross profit | 73,935 | 168,887 |
| Administrative expenses | (115,547) | (252,342) |
| Operating loss | (41,612) | (83,455) |
| Interest receivable and similar income | 1,486 | 2,446 |
| Interest payable and similar expenses | (1,315) | (1,647) |
| Loss before taxation | (41,441) | (82,656) |
| Tax on loss | - | - |
| Loss for the financial year | (41,441) | (82,656) |
The profit and loss account has been prepared on the basis that all operations are continuing operations.
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BENINGTON COMMUNITY HERITAGE TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
| Notes Fixed assets Tangible assets 4 Current assets Stocks Debtors 5 Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current assets Net assets Capital and reserves Called up share capital Profit and loss reserves Total equity |
2024 £ 1,741 29,259 47,998 78,998 (78,779) |
£ 63,176 219 63,395 - 63,395 63,395 |
2023 £ 1,875 20,213 72,594 94,682 (60,049) |
£ 70,203 34,633 |
|---|---|---|---|---|
| 104,836 | ||||
| - 104,836 |
||||
| 104,836 |
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 May 2025 and are signed on its behalf by:
Manda Crowder
Director
Company registration number 06307593 (England and Wales)
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BENINGTON COMMUNITY HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
Company information
Benington Community Heritage Trust is a private company limited by shares incorporated in England and Wales. The registered office is The Beonna at All Saints, Main Road, Benington, Boston, Lincolnshire, PE22 0BT.
1.1 Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 15% reducing balance Fixtures and fittings 10% reducing balance Computers 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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BENINGTON COMMUNITY HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies
(Continued)
1.4 Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.6 Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8 Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.9 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
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FOR THE YEAR ENDED 31 DECEMBER 2024
BENINGTON COMMUNITY HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
2 Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Employees
The average monthly number of persons (including directors) employed by the company during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| Total | 8 | 8 |
- 4 Tangible fixed assets
| Cost At 1 January 2024 Additions At 31 December 2024 Depreciation and impairment At 1 January 2024 Depreciation charged in the year At 31 December 2024 Carrying amount At 31 December 2024 At 31 December 2023 |
Plant and equipment Fixtures and fittings £ £ 29,953 70,180 868 139 30,821 70,319 6,294 26,370 3,658 4,384 9,952 30,754 20,869 39,565 23,659 43,810 |
Computers £ 4,541 470 5,011 1,807 462 2,269 2,742 2,734 |
Total £ 104,674 1,477 |
|---|---|---|---|
| 106,151 | |||
| 34,471 8,504 |
|||
| 42,975 | |||
| 63,176 | |||
| 70,203 |
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BENINGTON COMMUNITY HERITAGE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| 5 Debtors Amounts falling due within one year: Trade debtors Other debtors 6 Creditors: amounts falling due within one year |
2024 £ 28,264 995 29,259 |
2023 £ 20,213 - |
|---|---|---|
| 20,213 | ||
| Creditors: amounts falling due within one year | ||
|---|---|---|
| Bank loans Trade creditors Taxation and social security Other creditors |
2024 £ 33,989 6,355 3,125 35,310 78,779 |
2023 £ 34,300 2,609 1,395 21,745 |
| 60,049 |
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BENINGTON COMMUNITY HERITAGE TRUST
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
BENINGTON COMMUNITY HERITAGE TRUST
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF BENINGTON COMMUNITY HERITAGE TRUST
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 December 2024.
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the balance sheet, you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a true and fair view.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
TC Group
30 May 2025
75 High Street Boston Lincolnshire PE21 8SX
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BENINGTON COMMUNITY HERITAGE TRUST
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Turnover Activities Donations and grants Cost of sales Opening stock of finished goods Direct costs Closing stock of finished goods Total cost of sales Gross profit Administrative expenses Wages and salaries Staff pension costs defined contribution Rent Rates Cleaning Power, light and heat Property repairs and maintenance Computer running costs Hire of equipment (not operating lease) Professional subscriptions Legal and professional fees Consultancy fees Accountancy Other donations Bank charges Insurances Printing and stationery Advertising Telecommunications Sundry expenses Beonna project Depreciation Profit or loss on sale of tangible assets (non exceptional) |
2024 £ £ 104,114 3,042 107,156 1,875 33,087 (1,741) (33,221) 69.00% 73,935 63,640 254 250 298 3,220 13,169 3,041 597 757 1,419 480 2,410 2,162 - 390 5,978 1,372 5,998 1,429 179 - 8,504 - (115,547) |
2023 £ £ 152,291 97,079 249,370 - 82,358 (1,875) (80,483) 67.73% 168,887 119,300 - 250 616 5,494 17,529 5,185 1,393 5,834 5,030 6,797 5,440 1,650 1,500 443 5,011 1,973 24,121 2,447 564 31,671 9,525 569 (252,342) |
|---|---|---|
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BENINGTON COMMUNITY HERITAGE TRUST
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
| Operating loss Interest receivable and similar income Bank interest received Interest payable and similar expenses Bank interest on loans and overdrafts Loss before taxation |
£ 1,486 38.67% |
2024 £ (41,612) 1,486 (1,315) (41,441) |
£ 2,446 33.15% |
2023 £ (83,455) 2,446 (1,647) (82,656) |
|---|---|---|---|---|
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