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REGISTERED NUMBER: 05861219 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

VANS FOR BANDS LIMITED

VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


VANS FOR BANDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: T D Anderson
B M Anderson
E J A Thomson





REGISTERED OFFICE: 42 Woodstock Road East
Begbroke
Oxfordshire
OX5 1RG





REGISTERED NUMBER: 05861219 (England and Wales)





ACCOUNTANTS: Astral Accountancy Services Limited
Astral House
Granville Way
Bicester
Oxfordshire
OX26 4JT

VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,151,143 2,634,787

CURRENT ASSETS
Stocks 6,719 10,579
Debtors 5 1,550,182 1,222,121
Cash at bank and in hand 380,843 521,185
1,937,744 1,753,885
CREDITORS
Amounts falling due within one year 6 3,001,629 2,651,994
NET CURRENT LIABILITIES (1,063,885 ) (898,109 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,087,258

1,736,678

CREDITORS
Amounts falling due after more than one year 7 (1,337,836 ) (1,311,311 )

PROVISIONS FOR LIABILITIES 9 (366,036 ) (156,891 )
NET ASSETS 383,386 268,476

CAPITAL AND RESERVES
Called up share capital 10 1,676 1,676
Share premium 249,689 249,689
Retained earnings 132,021 17,111
SHAREHOLDERS' FUNDS 383,386 268,476

VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

BALANCE SHEET - continued
30 JUNE 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 5 March 2024 and were signed on its behalf by:





T D Anderson - Director


VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Vans For Bands 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.

Significant judgements and estimates
The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements, are disclosed in the accounting policies below.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

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

Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the Revenue costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a under a finance lease, over the lease term, whichever is shorter.

Improvements to Property - 10% on cost
Plant & Equipment - 20% reducing balance
Motor Vehicles - various rates
Office Equipment - 20% reducing balance

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

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.


VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet and depreciated over their estimated useful lives.

The interest element of these obligations are charged to the profit and loss account over the relevant period. The capital element is treated as a liability.

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 32 (2022 - 23 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant & Motor Office
Property Equipment Vehicles Equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 93,550 126,679 4,132,929 20,983 4,374,141
Additions 69,350 66,450 793,637 - 929,437
Disposals - - (350,716 ) - (350,716 )
At 30 June 2023 162,900 193,129 4,575,850 20,983 4,952,862
DEPRECIATION
At 1 July 2022 34,246 73,414 1,611,360 20,334 1,739,354
Charge for year 6,932 12,858 294,627 - 314,417
Eliminated on disposal - - (252,052 ) - (252,052 )
At 30 June 2023 41,178 86,272 1,653,935 20,334 1,801,719
NET BOOK VALUE
At 30 June 2023 121,722 106,857 2,921,915 649 3,151,143
At 30 June 2022 59,304 53,265 2,521,569 649 2,634,787

VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant & Motor
Equipment Vehicles Totals
£    £    £   
COST
At 1 July 2022 30,995 1,186,024 1,217,019
Additions 24,300 685,915 710,215
Transfer to ownership (30,995 ) (52,709 ) (83,704 )
At 30 June 2023 24,300 1,819,230 1,843,530
DEPRECIATION
At 1 July 2022 15,125 341,383 356,508
Charge for year 4,860 134,781 139,641
Transfer to ownership (15,125 ) (109,391 ) (124,516 )
At 30 June 2023 4,860 366,773 371,633
NET BOOK VALUE
At 30 June 2023 19,440 1,452,457 1,471,897
At 30 June 2022 15,870 844,641 860,511

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,481,808 1,200,707
Other debtors 5,251 1,675
VAT 38,246 -
Prepayments 24,877 19,739
1,550,182 1,222,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 307,279 296,525
Hire purchase contracts 298,014 201,243
Trade creditors 156,052 173,834
Social security and other taxes 35,845 57,009
Other creditors 32,500 38,477
Directors' current account 394,864 431,250
Accruals and deferred income 1,777,075 1,453,656
3,001,629 2,651,994

VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans - >1 years 553,529 875,198
Hire purchase contracts 784,307 436,113
1,337,836 1,311,311

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 1,082,321 637,356

The bank overdraft is secured by way of a personal guarantee by the Directors of the Company in addition to a fixed equitable charge over all present and future freehold and leasehold property, first fixed charge over book and other debts, chattels, goodwill and uncalled capital both present and future of Vans for Bands Limited.

Hire purchase contracts are secured against the assets they relate to.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 366,036 156,891

Deferred
tax
£   
Balance at 1 July 2022 156,891
Provided during year 209,145
Balance at 30 June 2023 366,036

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid: 2022 2021
Number: Class: Nominal value: £ £

75,001 A Ordinary £0.01 750 750
75,001 B Ordinary £0.01 750 750
16,760 C Ordinary £0.01 168 168
838 D Ordinary £0.01 8 8
---------- ----------
1,676 1,676
===== =====


VANS FOR BANDS LIMITED (REGISTERED NUMBER: 05861219)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. RELATED PARTY DISCLOSURES

The balance on the directors' current accounts, due by the company, was £394,864 as at 30 June 2023 (2022: £431,250).

The loan from T D Anderson amounted to £88,930 (2022: £123,834).T D Anderson's current account is interest free with no fixed repayment date.

The loan from B M Anderson amounted to £272,939 (2022: £274,272). B M Anderson's current account has no fixed repayment date.

The loan from E J A Thomson amounted to £32,994 (2022: £33,144). E J A Thomson's current account is interest free with no fixed repayment date.

The directors have provided security for the bank overdraft by way of personal guarantee up to £75,000.