Company Registration No. 11320017 (England and Wales)
S & D Banks Ltd
Unaudited accounts
for the year ended 31 May 2024
S & D Banks Ltd
Unaudited accounts
Contents
S & D Banks Ltd
Company Information
for the year ended 31 May 2024
Company Number
11320017 (England and Wales)
Registered Office
Curds Farm House
Tye Common Road
Billericay
Essex
CM12 9PZ
United Kingdom
Accountants
Red Rose Accountancy Services Ltd
Arran
Yew Tree Road
Grange-over-Sands
Cumbria
LA11 7AA
Accountants' report to the board of directors on the preparation of the unaudited statutory statements of S & D Banks Ltd (The Company) 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 financial statements of the company for the year ended 31 May 2024 which comprises of the profit and loss account, the balance sheet, and explanatory notes from the company's accounting records and from information and explanations which you have provided us with.
As a member firm of the Institute of Financial Accountants (IFA), we are subject to its ethical and other professional requirements which are detailed at https://ifa.org.uk/about-us/acting-in-the-public-interest/memberregulations.
This report is made solely to the board of directors of the company, as a body, in accordance with the terms of our letter of engagement dated . Our work has been undertaken solely to prepare for your approval the financial statements of the company, and state those matters that we have agreed to state to the board of directors of the company as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its board of directors as a body for our work or for this report.
It is your duty to ensure that the company has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and financial performance of the company. You consider that the company is exempt from the requirement to have a statutory audit for the year ended 31 May 2024.
We have not been instructed to carry out any assurance service on the financial statements of the company. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Red Rose Accountancy Services Ltd
Financial Accountants
Arran
Yew Tree Road
Grange-over-Sands
Cumbria
LA11 7AA
10 January 2025
S & D Banks Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
55,134
73,511
Cash at bank and in hand
98,423
71,235
Creditors: amounts falling due within one year
(96,847)
(80,072)
Net current assets
37,093
23,892
Total assets less current liabilities
92,227
97,403
Provisions for liabilities
Deferred tax
(12,680)
(12,827)
Called up share capital
200
200
Profit and loss account
79,347
84,376
Shareholders' funds
79,547
84,576
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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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 of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by
D Banks
Director
Company Registration No. 11320017
S & D Banks Ltd
Notes to the Accounts
for the year ended 31 May 2024
S & D Banks Ltd is a private company, limited by shares, registered in England and Wales, registration number 11320017. The registered office is Curds Farm House, Tye Common Road, Billericay, Essex, CM12 9PZ, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Motor vehicles
25% on the reducing balance basis
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is being amortised evenly over 5 years.
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.
S & D Banks Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2023
1,658
89,465
91,123
At 31 May 2024
1,658
89,465
91,123
At 1 June 2023
684
16,928
17,612
Charge for the year
243
18,134
18,377
At 31 May 2024
927
35,062
35,989
At 31 May 2024
731
54,403
55,134
At 31 May 2023
974
72,537
73,511
Amounts falling due within one year
Trade debtors
32,442
29,803
7
Creditors: amounts falling due within one year
2024
2023
Trade creditors
10,115
6,899
Taxes and social security
32,365
14,285
Other creditors
11,663
12,128
Loans from directors
41,382
44,850
The directors loan accounts are interest free and repayable on demand.
S & D Banks Ltd
Notes to the Accounts
for the year ended 31 May 2024
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200
200
9
Average number of employees
During the year the average number of employees was 9 (2023: 9).