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REGISTERED NUMBER: 09942027 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2022

for

BANKS ENGINEERING AND MANAGEMENT LTD

BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BANKS ENGINEERING AND MANAGEMENT LTD

Company Information
FOR THE YEAR ENDED 31 JANUARY 2022







Director: Mr A J Banks





Registered office: 20 Cressell Park
Standish
Wigan
Lancashire
WN6 0RT





Registered number: 09942027 (England and Wales)





Accountants: NR Barton
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)

Balance Sheet
31 JANUARY 2022

31.1.22 31.1.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,660 17,704

CURRENT ASSETS
Debtors 5 17,624 5,167
Cash at bank 2,679 11,173
20,303 16,340
CREDITORS
Amounts falling due within one year 6 21,112 15,070
NET CURRENT (LIABILITIES)/ASSETS (809 ) 1,270
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,851

18,974

CREDITORS
Amounts falling due after more than one
year

7

(9,777

)

(15,523

)

PROVISIONS FOR LIABILITIES 8 (2,595 ) (3,364 )
NET ASSETS 479 87

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 478 86
SHAREHOLDERS' FUNDS 479 87

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2022 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.

BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)

Balance Sheet - continued
31 JANUARY 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2022 and were signed by:





Mr A J Banks - Director


BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 JANUARY 2022

1. STATUTORY INFORMATION

Banks Engineering And Management Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The director has reviewed the company's forecasts and projections and in particular has considered the potential implications of the Coronavirus (COVID-19) pandemic. Whilst the eventual impact of the pandemic on the company, and on the overall economy, remains uncertain, the director is confident that the company will be able to remain operational throughout the pandemic.

The directors have reasonable expectation that the company will have adequate funding and support to continue in operational existence for the foreseeable future.

The company therefore continues to adopt the going concern basis in preparing its financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2022

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 February 2021 28,087
Additions 128
At 31 January 2022 28,215
DEPRECIATION
At 1 February 2021 10,383
Charge for year 4,172
At 31 January 2022 14,555
NET BOOK VALUE
At 31 January 2022 13,660
At 31 January 2021 17,704

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Other debtors 17,624 5,167

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.22 31.1.21
£    £   
Bank loans and overdrafts 5,746 2,633
Taxation and social security 14,190 10,937
Other creditors 1,176 1,500
21,112 15,070

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.22 31.1.21
£    £   
Bank loans 9,777 15,523

BANKS ENGINEERING AND MANAGEMENT LTD (REGISTERED NUMBER: 09942027)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 JANUARY 2022

8. PROVISIONS FOR LIABILITIES
31.1.22 31.1.21
£    £   
Deferred tax
Accelerated capital allowances 2,595 3,364

Deferred
tax
£   
Balance at 1 February 2021 3,364
Credit to Statement of Income and Retained Earnings during year (769 )
Balance at 31 January 2022 2,595

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.22 31.1.21
value: £    £   
1 Ordinary £1 1 1