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REGISTERED NUMBER: 02932776 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Caroline Banks & Associates Limited

Caroline Banks & Associates Limited (Registered number: 02932776)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Caroline Banks & Associates Limited

Company Information
for the Year Ended 31 July 2024







DIRECTORS: C A Banks
A E Warner





REGISTERED OFFICE: 36 Seymour Street
London
W1H 7JF





REGISTERED NUMBER: 02932776 (England and Wales)





ACCOUNTANTS: Nichols & Co ( Accountancy ) Limited
Chartered Accountants
Unit 7
Mulberry Place
Pinnell Road
Eltham
London
SE9 6AR

Caroline Banks & Associates Limited (Registered number: 02932776)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £ £
FIXED ASSETS
Tangible assets 4 6,179 6,150

CURRENT ASSETS
Debtors 5 116,113 191,193
Cash at bank 932,087 771,659
1,048,200 962,852
CREDITORS
Amounts falling due within one year 6 (180,622 ) (162,031 )
NET CURRENT ASSETS 867,578 800,821
TOTAL ASSETS LESS CURRENT
LIABILITIES

873,757

806,971

PROVISIONS FOR LIABILITIES 7 (341 ) (53 )
NET ASSETS 873,416 806,918

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 872,416 805,918
SHAREHOLDERS' FUNDS 873,416 806,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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.

Caroline Banks & Associates Limited (Registered number: 02932776)

Balance Sheet - continued
31 July 2024


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 15 October 2024 and were signed on its behalf by:





C A Banks - Director


Caroline Banks & Associates Limited (Registered number: 02932776)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Caroline Banks & Associates 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.

TURNOVER
Turnover is comprised of adviser charges and fees arising from financial planning, financial advice, and wealth protection and management through arranging and then maintaining life policies, pension schemes and investments. Advisor charges are recognised on an accruals basis and all other income is recognised on a receipts basis.

The whole of the turnover is attributable to the one principle activity of the company being that of financial planning.

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
Motor vehicles - 25% on reducing balance

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.

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.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS
The company operates a defined contribution pension scheme and contributes to several personal pension schemes. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions payable by the company amounted to £131,399 (2023: £96,180). All contributions were paid in the year.

Caroline Banks & Associates Limited (Registered number: 02932776)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
COST
At 1 August 2023 32,821 21,421 54,242
Additions 2,366 - 2,366
At 31 July 2024 35,187 21,421 56,608
DEPRECIATION
At 1 August 2023 31,518 16,574 48,092
Charge for year 1,125 1,212 2,337
At 31 July 2024 32,643 17,786 50,429
NET BOOK VALUE
At 31 July 2024 2,544 3,635 6,179
At 31 July 2023 1,303 4,847 6,150

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade debtors 17,879 35,886
Directors' current accounts - 45,000
Prepayments and accrued income 98,234 110,307
116,113 191,193

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£ £
Trade creditors 5,393 5,232
Corporation tax 89,074 68,105
Social security and other taxes 23,187 21,805
Other creditors 2,831 2,473
Accrued expenses 60,137 64,416
180,622 162,031

7. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£ £
Deferred tax 341 53

Caroline Banks & Associates Limited (Registered number: 02932776)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 August 2023 53
Provided during year 288
Balance at 31 July 2024 341

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £ £
1,000 Ordinary £1 1,000 1,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£ £
C A Banks
Balance outstanding at start of year 45,000 -
Amounts advanced - 45,000
Amounts repaid (45,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 45,000

This loan is interest-free and repayable within one year.

10. RELATED PARTY DISCLOSURES

Certain of the directors are also the company's shareholders and the following dividends were paid during the year:

C A Banks £125,000
David Beddoes Rogers Will Trust £62,406

11. CONTROLLING PARTY

The controlling and ultimate controlling party of the company is Ms C A Banks, a director of the company.