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Company Registration No. 14148128 (England and Wales)
BANTON’S AUTOS LTD Unaudited accounts for the year ended 31 May 2024
BANTON’S AUTOS LTD Unaudited accounts Contents
Page
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BANTON’S AUTOS LTD Company Information for the year ended 31 May 2024
Director
Joel Banton
Company Number
14148128 (England and Wales)
Registered Office
21 Norfolk Road Newport NP19 7SL
Accountants
Evans Entwistle Venta House Maes-glas Newport NP20 2NS
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Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of BANTON’S AUTOS LTD for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of BANTON’S AUTOS LTD for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle Member in Practice Venta House Maes-glas Newport NP20 2NS 9 August 2024
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BANTON’S AUTOS LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,937 
4,500 
Current assets
Debtors
4,218 
539 
Cash at bank and in hand
213 
33 
4,431 
572 
Creditors: amounts falling due within one year
(7,602)
(4,135)
Net current liabilities
(3,171)
(3,563)
Total assets less current liabilities
766 
937 
Provisions for liabilities
Deferred tax
(748)
(855)
Net assets
18 
82 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
17 
81 
Shareholders' funds
18 
82 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 August 2024 and were signed on its behalf by
Joel Banton Director Company Registration No. 14148128
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BANTON’S AUTOS LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
BANTON’S AUTOS LTD is a private company, limited by shares, registered in England and Wales, registration number 14148128. The registered office is 21 Norfolk Road, Newport, NP19 7SL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
4 years straight-line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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BANTON’S AUTOS LTD Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 June 2023
6,000 
Additions
1,000 
At 31 May 2024
7,000 
Depreciation
At 1 June 2023
1,500 
Charge for the year
1,563 
At 31 May 2024
3,063 
Net book value
At 31 May 2024
3,937 
At 31 May 2023
4,500 
5
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
748 
855 
2024 
2023 
£ 
£ 
Provision at start of year
855 
- 
(Credited)/charged to the profit and loss account
(107)
855 
Provision at end of year
748 
855 
6
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Joel Banton
loan advance during the financial year
539 
- 
- 
539 
539 
- 
- 
539 
The balance represents an interest free loan that is repayable to the company upon demand.
8
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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