REGISTERED NUMBER: |
Banson Decorators Ltd |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
REGISTERED NUMBER: |
Banson Decorators Ltd |
Unaudited Financial Statements for the Year Ended 30 June 2023 |
Banson Decorators Ltd (Registered number: 04452788) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Banson Decorators Ltd |
Company Information |
for the Year Ended 30 June 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
5 Queen Street |
Great Yarmouth |
Norfolk |
NR30 2QP |
Banson Decorators Ltd (Registered number: 04452788) |
Statement of Financial Position |
30 June 2023 |
30/6/23 | 30/6/22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
Investment property | 5 |
Current assets |
Debtors | 6 |
Cash at bank |
Creditors |
Amounts falling due within one year | 7 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Other reserves |
Retained earnings |
Shareholders' funds |
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. |
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 |
Banson Decorators Ltd (Registered number: 04452788) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | Statutory information |
Banson Decorators Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | Accounting policies |
Basis of preparing the 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 |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Banson Decorators Ltd (Registered number: 04452788) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and |
fittings |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Depreciation |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
5. | Investment property |
Total |
£ |
Fair value |
At 1 July 2022 |
Additions |
At 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
Fair value at 30 June 2023 is represented by: |
£ |
Valuation in 2018 | 265,000 |
Valuation in 2021 | 17,499 |
Valuation in 2022 | 66,500 |
Valuation in 2023 | 11,481 |
360,480 |
If the investments properties had not been revalued they would have been included at the following historical cost: |
30/6/23 | 30/6/22 |
£ | £ |
Cost | 282,865 | 271,383 |
Investment properties were valued on an open market basis on 2 February 2023 by the Directors . |
Banson Decorators Ltd (Registered number: 04452788) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | Debtors: amounts falling due within one year |
30/6/23 | 30/6/22 |
£ | £ |
Trade debtors |
Other debtors |
7. | Creditors: amounts falling due within one year |
30/6/23 | 30/6/22 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |