Banks & Klein Ltd. 10193067 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is that of a hairdressers. Digita Accounts Production Advanced 6.30.9574.0 true true 10193067 2023-06-01 2024-05-31 10193067 2024-05-31 10193067 core:CurrentFinancialInstruments 2024-05-31 10193067 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 10193067 core:FurnitureFittings 2024-05-31 10193067 core:PlantMachinery 2024-05-31 10193067 bus:SmallEntities 2023-06-01 2024-05-31 10193067 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10193067 bus:FilletedAccounts 2023-06-01 2024-05-31 10193067 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10193067 bus:RegisteredOffice 2023-06-01 2024-05-31 10193067 bus:Director1 2023-06-01 2024-05-31 10193067 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10193067 core:FurnitureFittings 2023-06-01 2024-05-31 10193067 core:PlantMachinery 2023-06-01 2024-05-31 10193067 countries:EnglandWales 2023-06-01 2024-05-31 10193067 2023-05-31 10193067 core:FurnitureFittings 2023-05-31 10193067 core:PlantMachinery 2023-05-31 10193067 2022-06-01 2023-05-31 10193067 2023-05-31 10193067 core:CurrentFinancialInstruments 2023-05-31 10193067 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10193067 core:FurnitureFittings 2023-05-31 10193067 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 10193067

Banks & Klein Ltd.

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Banks & Klein Ltd.

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Banks & Klein Ltd.

(Registration number: 10193067)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

469

714

Current assets

 

Stocks

5

4,500

4,500

Debtors

6

2,500

2,500

Cash at bank and in hand

 

5,040

5,629

 

12,040

12,629

Creditors: Amounts falling due within one year

7

(3,940)

(8,144)

Net current assets

 

8,100

4,485

Net assets

 

8,569

5,199

Capital and reserves

 

Called up share capital

30

30

Retained earnings

8,539

5,169

Shareholders' funds

 

8,569

5,199

 

Banks & Klein Ltd.

(Registration number: 10193067)
Balance Sheet as at 31 May 2024

For the financial 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.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 January 2025 and signed on its behalf by:
 

.........................................
Mrs S A Barrett
Director

 

Banks & Klein Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
43A Bartholomew Street
Newbury
Berkshire
RG14 5QA
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Banks & Klein Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% on cost

Fixtures and fittings

20% on cost

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

 

Banks & Klein Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

4,673

4,951

9,624

At 31 May 2024

4,673

4,951

9,624

Depreciation

At 1 June 2023

4,673

4,237

8,910

Charge for the year

-

245

245

At 31 May 2024

4,673

4,482

9,155

Carrying amount

At 31 May 2024

-

469

469

At 31 May 2023

-

714

714

5

Stocks

2024
£

2023
£

Other inventories

4,500

4,500

6

Debtors

Current

2024
£

2023
£

Other debtors

2,500

2,500

 

2,500

2,500

 

Banks & Klein Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

-

858

Trade creditors

 

270

90

Taxation and social security

 

2,491

2,735

Other creditors

 

1,179

4,461

 

3,940

8,144

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

858

9

Related party transactions

Other transactions with directors

Inlcuded in other creditors at the year end is a balance due to the directors of £578 (2023 - £3,861).