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REGISTERED NUMBER: 07824856 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 October 2023

for

M & A Banks Limited

M & A Banks Limited (Registered number: 07824856)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


M & A Banks Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: M Banks





REGISTERED OFFICE: Kepier House
Belmont Business Park
DURHAM
DH1 1TW





BUSINESS ADDRESS: Holme Farm
Hudswell
Richmond
North Yorkshire
DL11 6BJ





REGISTERED NUMBER: 07824856 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

M & A Banks Limited (Registered number: 07824856)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 36,517 12,546

CURRENT ASSETS
Stocks 5 - 413,287
Debtors 6 4,953 13,448
Cash at bank 517,382 22,396
522,335 449,131
CREDITORS
Amounts falling due within one year 7 475,170 474,701
NET CURRENT ASSETS/(LIABILITIES) 47,165 (25,570 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,682

(13,024

)

PROVISIONS FOR LIABILITIES 8 8,020 -
NET ASSETS/(LIABILITIES) 75,662 (13,024 )

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 75,562 (13,124 )
SHAREHOLDERS' FUNDS 75,662 (13,024 )

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 director acknowledges his 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.

M & A Banks Limited (Registered number: 07824856)

Balance Sheet - continued
31 October 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





M Banks - Director


M & A Banks Limited (Registered number: 07824856)

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

1. STATUTORY INFORMATION

M & A Banks 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 the provisions of Section 1A 'Small Entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

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

Income Recognition
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer.

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

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Stocks
Stocks and work in progress are valued at the lower of selling price less estimated costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


M & A Banks Limited (Registered number: 07824856)

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

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 24,495 - 24,495
Additions - 33,405 33,405
At 31 October 2023 24,495 33,405 57,900
DEPRECIATION
At 1 November 2022 11,949 - 11,949
Charge for year 4,562 4,872 9,434
At 31 October 2023 16,511 4,872 21,383
NET BOOK VALUE
At 31 October 2023 7,984 28,533 36,517
At 31 October 2022 12,546 - 12,546

5. STOCKS
2023 2022
£    £   
Work-in-progress - 413,287

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 698 8,113
Prepayments and accrued income 4,255 5,335
4,953 13,448

M & A Banks Limited (Registered number: 07824856)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,861 14,947
Taxation and social security 17,145 -
Other creditors - 40,000
Director's current account 455,264 418,854
Accruals and deferred income 900 900
475,170 474,701

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 8,020 -

Deferred
tax
£   
Accelerated capital allowances 8,020
Balance at 31 October 2023 8,020

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
67 A ordinary £1 67 67
33 B ordinary £1 33 33
100 100

10. RELATED PARTY DISCLOSURES

There were no related party transactions other then those concluded under normal market conditions, except for those shown below.
2023 2022
£ £

Amounts due to director 455,264 418,854
No interest has been charged.