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Registration number: 12530477

BANT Limited

Annual Report and

Unaudited Financial Statements


for the Year Ended 31 March 2023

 

BANT Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

BANT Limited

Company Information

Directors

Mrs A Martin

Mr L P Martin

Registered office

13 Priory Hill
Brecon
Powys
LD3 9DH

 

Accountants

W J James & Co
Bishop House
10 Wheat Street
Brecon
Powys
LD3 7DG

 

BANT Limited

(Registration number: 12530477)

Balance Sheet
as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

2,064

2,326

Current assets

 

Debtors

5

5,817

23,371

Cash at bank and in hand

 

25,165

44,727

 

30,982

68,098

Creditors: Amounts falling due within one year

6

(21,859)

(25,360)

Net current assets

 

9,123

42,738

Total assets less current liabilities

 

11,187

45,064

Provisions for liabilities

(392)

(442)

Net assets

 

10,795

44,622

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

10,793

44,620

Total equity

 

10,795

44,622

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The profit and loss account and directors' report have not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies regime.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

 

BANT Limited

(Registration number: 12530477)

Balance Sheet
as at 31 March 2023

Approved and authorised by the Board on 21 September 2023 and signed on its behalf by:
 

.........................................

Mrs A Martin

Director

.........................................

Mr L P Martin

Director

 

BANT Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
13 Priory Hill
Brecon
Powys
LD3 9DH

These financial statements were authorised for issue by the Board on 21 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company,, and rounded to the nearest £1.

Revenue recognition

Turnover represents sales of services. Turnover is recognised when the service is physically delivered to the customer.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

BANT Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

BANT Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

BANT Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2022

3,476

3,476

Additions

541

541

At 31 March 2023

4,017

4,017

Depreciation

At 1 April 2022

1,150

1,150

Charge for the year

803

803

At 31 March 2023

1,953

1,953

Carrying amount

At 31 March 2023

2,064

2,064

At 31 March 2022

2,326

2,326

5

Debtors

2023
£

2022
£

Trade debtors

5,817

23,371

5,817

23,371

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

28

Taxation and social security

3,636

1,759

Accruals and deferred income

1,200

1,200

Other creditors

17,023

22,373

21,859

25,360

 

BANT Limited

Notes to the Financial Statements
for the Year Ended 31 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share capital of £1 each

2

2

2

2