REGISTERED NUMBER: 02932776 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Caroline Banks & Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C A Banks

A E Warner

REGISTERED OFFICE:

36 Seymour Street

London

W1H 7JF

REGISTERED NUMBER:

02932776 (England and Wales)

ACCOUNTANTS:

Nichols & Co ( Accountancy ) Limited

Chartered Accountants

Unit 7

Mulberry Place

Pinnell Road

Eltham

London

SE9 6AR

FIXED ASSETS

Tangible assets

4

6,150

10,438

CURRENT ASSETS

Debtors

5

191,193

97,730

Cash at bank

771,659

781,672

962,852

879,402

CREDITORS

Amounts falling due within one year

6

(162,031

)

(175,965

)

NET CURRENT ASSETS

800,821

703,437

TOTAL ASSETS LESS CURRENT LIABILITIES

806,971

713,875

PROVISIONS FOR LIABILITIES

7

(53

)

(623

)

NET ASSETS

806,918

713,252

CAPITAL AND RESERVES

Called up share capital

8

1,000

1,000

Retained earnings

805,918

712,252

SHAREHOLDERS' FUNDS

806,918

713,252

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 3 October 2023 and were signed on its behalf by:

C A Banks - Director

1.	STATUTORY INFORMATION

Caroline Banks & Associates 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 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.

TURNOVER

Turnover is comprised of adviser charges and fees arising from financial planning, financial advice, and wealth protection and management through arranging and then maintaining life policies, pension schemes and investments. Advisor charges are recognised on an accruals basis and all other income is recognised on a receipts basis.

The whole of the turnover is attributable to the one principle activity of the company being that of financial planning.

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

-

25% on cost

Motor vehicles

-

25% on reducing balance

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme and contributes to several personal pension schemes. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable by the company amounted to £96,180 (2022: £60,884). All contributions were paid in the year.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 August 2022

32,552

21,421

53,973

Additions

269

-

269

At 31 July 2023

32,821

21,421

54,242

DEPRECIATION

At 1 August 2022

28,576

14,959

43,535

Charge for year

2,942

1,615

4,557

At 31 July 2023

31,518

16,574

48,092

NET BOOK VALUE

At 31 July 2023

1,303

4,847

6,150

At 31 July 2022

3,976

6,462

10,438

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade debtors

35,886

18,685

Directors' current accounts

45,000

-

Prepayments and accrued income

110,307

79,045

191,193

97,730

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.23

31.7.22

£

£

Trade creditors

5,232

8,459

Corporation tax

68,105

86,925

Social security and other taxes

21,805

19,542

Other creditors

2,473

2,168

Accrued expenses

64,416

58,871

162,031

175,965

7.	PROVISIONS FOR LIABILITIES

31.7.23

31.7.22

£

£

Deferred tax

53

623

Deferred tax

£

Balance at 1 August 2022

623

Provided during year

(570

)

Balance at 31 July 2023

53

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.23

31.7.22

value:

£

£

1,000

Ordinary

£1

1,000

1,000

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23

31.7.22

£

£

C A Banks

Balance outstanding at start of year

-

70,000

Amounts advanced

45,000

-

Amounts repaid

-

(70,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

45,000

-

This loan is interest-free and repayable within one year.

10.	RELATED PARTY DISCLOSURES

Certain of the directors are also the company's shareholders and the following dividends were paid during the year:

C A Banks

£102,000

David Beddoes Rogers Will Trust

£50,924

11.	CONTROLLING PARTY

The controlling and ultimate controlling party of the company is Ms C A Banks, a director of the company.