Acorah Software Products - Accounts Production 16.0.110 false true 30 April 2023 1 May 2022 false 1 May 2023 30 April 2024 30 April 2024 07862852 Mr S C Banks Mrs S Banks Mrs S L Banks iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07862852 2023-04-30 07862852 2024-04-30 07862852 2023-05-01 2024-04-30 07862852 frs-core:CurrentFinancialInstruments 2024-04-30 07862852 frs-core:Non-currentFinancialInstruments 2024-04-30 07862852 frs-core:BetweenOneFiveYears 2024-04-30 07862852 frs-core:ComputerEquipment 2023-05-01 2024-04-30 07862852 frs-core:FurnitureFittings 2023-05-01 2024-04-30 07862852 frs-core:LandBuildings 2024-04-30 07862852 frs-core:LandBuildings 2023-05-01 2024-04-30 07862852 frs-core:LandBuildings 2023-04-30 07862852 frs-core:LandBuildings frs-core:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07862852 frs-core:MoreThanFiveYears 2024-04-30 07862852 frs-core:MotorVehicles 2023-05-01 2024-04-30 07862852 frs-core:PlantMachinery 2024-04-30 07862852 frs-core:PlantMachinery 2023-05-01 2024-04-30 07862852 frs-core:PlantMachinery 2023-04-30 07862852 frs-core:WithinOneYear 2024-04-30 07862852 frs-core:ShareCapital 2024-04-30 07862852 frs-core:RetainedEarningsAccumulatedLosses 2024-04-30 07862852 frs-bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07862852 frs-bus:FilletedAccounts 2023-05-01 2024-04-30 07862852 frs-bus:SmallEntities 2023-05-01 2024-04-30 07862852 frs-bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07862852 frs-bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 07862852 frs-bus:Director1 2023-05-01 2024-04-30 07862852 frs-bus:Director2 2023-05-01 2024-04-30 07862852 frs-bus:CompanySecretary1 2023-05-01 2024-04-30 07862852 frs-countries:EnglandWales 2023-05-01 2024-04-30 07862852 2022-04-30 07862852 2023-04-30 07862852 2022-05-01 2023-04-30 07862852 frs-core:CurrentFinancialInstruments 2023-04-30 07862852 frs-core:Non-currentFinancialInstruments 2023-04-30 07862852 frs-core:BetweenOneFiveYears 2023-04-30 07862852 frs-core:MoreThanFiveYears 2023-04-30 07862852 frs-core:WithinOneYear 2023-04-30 07862852 frs-core:ShareCapital 2023-04-30 07862852 frs-core:RetainedEarningsAccumulatedLosses 2023-04-30
Registered number: 07862852
A R Banks Ltd
Unaudited Financial Statements
For The Year Ended 30 April 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 07862852
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 555,450 1,059,964
555,450 1,059,964
CURRENT ASSETS
Debtors 5 497,560 457,960
Cash at bank and in hand 334,116 238,735
831,676 696,695
Creditors: Amounts Falling Due Within One Year 6 (912,699 ) (863,106 )
NET CURRENT ASSETS (LIABILITIES) (81,023 ) (166,411 )
TOTAL ASSETS LESS CURRENT LIABILITIES 474,427 893,553
Creditors: Amounts Falling Due After More Than One Year 7 (141,078 ) (510,673 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (105,536 ) (184,500 )
NET ASSETS 227,813 198,380
CAPITAL AND RESERVES
Called up share capital 9 120 120
Profit and Loss Account 227,693 198,260
SHAREHOLDERS' FUNDS 227,813 198,380
Page 1
Page 2
For the year ending 30 April 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs S Banks
Director
27/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
A R Banks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07862852 . The registered office is C/O Smooth Accounting Limited , Building 1000 Lakeside, North Harbour, Western Road, Portsmouth, PO6 3EN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10 years straight line
Plant & Machinery 5% and 10% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 3 Years Straight Line
Computer Equipment 3 Years Straight Line
2.4. Leasing and Hire Purchase Contracts
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
2.5. Financial Instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 3
Page 4
2.6. Taxation
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.8. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
2.9.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 14 (2023: 13)
14 13
4. Tangible Assets
Land & Buildings Plant & Machinery etc. Total
£ £ £
Cost
As at 1 May 2023 51,611 1,222,286 1,273,897
Additions - 16,394 16,394
Disposals - (580,240 ) (580,240 )
As at 30 April 2024 51,611 658,440 710,051
Depreciation
As at 1 May 2023 5,161 208,772 213,933
...CONTINUED
Page 4
Page 5
Provided during the period 5,161 37,224 42,385
Disposals - (101,717 ) (101,717 )
As at 30 April 2024 10,322 144,279 154,601
Net Book Value
As at 30 April 2024 41,289 514,161 555,450
As at 1 May 2023 46,450 1,013,514 1,059,964
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 366,449 366,429
Amounts owed by group undertakings 17,975 11,725
Other debtors 113,136 79,806
497,560 457,960
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 78,423 172,438
Trade creditors 154,032 119,150
Bank loans and overdrafts 8,239 7,653
Amounts owed to participating interests 456,716 427,917
Other creditors 59,845 11,844
Taxation and social security 155,444 124,104
912,699 863,106
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 125,550 486,905
Bank loans 15,528 23,768
141,078 510,673
During the previous financial period, the company was granted a bounce back loan which will be repaid in line with the accepted government terms. It is denominated in £, the amount owed at the year end is £23,768 (2023: 31,420)
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 78,423 172,438
Later than one year and not later than five years 125,550 486,905
203,973 659,343
203,973 659,343
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Page 6
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 120 120
10. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 50,000 50,000
Later than one year and not later than five years 200,000 200,000
Later than five years 179,167 229,167
429,167 479,167
11. Related Party Transactions
The following laons are interest free, unsecured and repayable on demand
Jarvis Banks LtdCompany under common controlLoan to Jarvis Banks Ltd of £17,975 (FY2023: £11,275)

Jarvis Banks Ltd

Company under common control

Loan to Jarvis Banks Ltd of £17,975 (FY2023: £11,275)

Banks Corporation LimitedParent CompanyLoan from Banks Corporation Limited of £456,716 (FY2023: £427,917)

Banks Corporation Limited

Parent Company

Loan from Banks Corporation Limited of £456,716 (FY2023: £427,917)

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