Registered number
14082993
Banbury Holdings Limited
Unaudited Filleted Accounts
31 May 2024
Banbury Holdings Limited
Registered number: 14082993
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 199 -
Investments 4 288,914 -
289,113 -
Current assets
Debtors 5 5,905 3,059
Cash at bank and in hand 6,676 133
12,581 3,192
Creditors: amounts falling due within one year 6 (106,839) (3,191)
Net current (liabilities)/assets (94,258) 1
Total assets less current liabilities 194,855 1
Creditors: amounts falling due after more than one year 7 (206,826) -
Net (liabilities)/assets (11,971) 1
Capital and reserves
Called up share capital 1 1
Profit and loss account (11,972) -
Shareholder's funds (11,971) 1
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Banbury
Director
Approved by the board on 26 February 2025
Banbury Holdings Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
Turnover
The company has no turnover as such as its income is all rent from the workshop. Rent is recognised in the accounts in the year to which it relates.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss account in other administrative expenses
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 249
At 31 May 2024 249
Depreciation
Charge for the year 50
At 31 May 2024 50
Net book value
At 31 May 2024 199
4 Investments
Other
investments
£
Cost
Additions 288,914
At 31 May 2024 288,914
5 Debtors 2024 2023
£ £
Trade debtors 2,243 -
Deferred tax asset 3,240 -
Other debtors 422 3,059
5,905 3,059
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 592
Taxation and social security costs 558 -
Other creditors 106,281 2,599
106,839 3,191
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 206,826 -
8 Loans 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 206,826 -
Secured bank loans 206,826 -
The above loans are secured via fixed charges over the company's investment property.
9 Other information
Banbury Holdings Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 2
Clannaborough Barton
Bow
Crediton
EX17 6DA
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