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REGISTERED NUMBER: 08273871 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

The Old Corner Bank Ltd

The Old Corner Bank Ltd (Registered number: 08273871)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


The Old Corner Bank Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mr P J Harris
Mrs S K Harris



SECRETARY:



REGISTERED OFFICE: 16c Sandown Road
Lake
Isle of Wight
PO36 9JP



REGISTERED NUMBER: 08273871 (England and Wales)



ACCOUNTANTS: Allegri & Co.
16c Sandown Road
Lake
Isle of Wight
PO36 9JP



BANKERS: Lloyds Bank
St.Thomas Square
Newport
Isle of Wight
PO30

The Old Corner Bank Ltd (Registered number: 08273871)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 22,834 24,866

CURRENT ASSETS
Stocks 5,000 5,000
Debtors 5 - 500
Cash at bank and in hand 146,046 133,721
151,046 139,221
CREDITORS
Amounts falling due within one year 6 125,077 121,981
NET CURRENT ASSETS 25,969 17,240
TOTAL ASSETS LESS CURRENT
LIABILITIES

48,803

42,106

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 48,801 42,104
SHAREHOLDERS' FUNDS 48,803 42,106

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 20 February 2024 and were signed on its behalf by:





Mr P J Harris - Director


The Old Corner Bank Ltd (Registered number: 08273871)

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

1. STATUTORY INFORMATION

The Old Corner Bank 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.

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 etc - 15% on cost and not provided

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 8 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022
and 31 October 2023 60,225
DEPRECIATION
At 1 November 2022 35,359
Charge for year 2,032
At 31 October 2023 37,391
NET BOOK VALUE
At 31 October 2023 22,834
At 31 October 2022 24,866

The Old Corner Bank Ltd (Registered number: 08273871)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors - 500

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 2,294 2,644
Taxation and social security 7,893 4,747
Other creditors 114,890 114,590
125,077 121,981