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                                                                                                                     Company number: 03936181














BANDKAY ENTERPRISES LIMITED


UNAUDITED

 FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
BANDKAY ENTERPRISES LIMITED
 
 
COMPANY INFORMATION


Directors
B D Kirby 
Mrs K E Kirby 




Company secretary
B D Kirby



Registered number
03936181



Registered office
14 Hayes Lane

Fakenham

Norfolk

NR21 9ER




Accountants
Larking Gowen LLP
Chartered Accountants

Summerhill House

1 Sculthorpe Road

Fakenham

Norfolk

NR21 9HA





 
BANDKAY ENTERPRISES LIMITED
REGISTERED NUMBER:03936181

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
11,472
15,296

Investment property
 6 
711,346
708,108

  
722,818
723,404

Current assets
  

Stocks
  
59,410
59,018

Debtors: amounts falling due within one year
 7 
71,818
50,476

Cash at bank and in hand
  
530,516
436,632

  
661,744
546,126

Creditors: amounts falling due within one year
 8 
(128,019)
(115,499)

Net current assets
  
 
 
533,725
 
 
430,627

Total assets less current liabilities
  
1,256,543
1,154,031

  

Net assets
  
1,256,543
1,154,031


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,256,443
1,153,931

  
1,256,543
1,154,031


Page 1

 
BANDKAY ENTERPRISES LIMITED
REGISTERED NUMBER:03936181
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



................................................
Mrs K E Kirby
................................................
B D Kirby
Director
Director


Date: 25 July 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Bandkay Enterprises Limited is a private company limited by shares and incorporated in England & Wales, registration number 03936181. The registered office is 14 Hayes Lane, Fakenham, Norfolk, NR21 9ER.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
NIL
Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2023 - 14).

Page 5

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2024
250,000



At 31 December 2024

250,000



Amortisation


At 1 January 2024
250,000



At 31 December 2024

250,000



Net book value



At 31 December 2024
-



At 31 December 2023
-



Page 6

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 January 2024
189,755



At 31 December 2024

189,755



Depreciation


At 1 January 2024
174,459


Charge for the year on owned assets
3,824



At 31 December 2024

178,283



Net book value



At 31 December 2024
11,472



At 31 December 2023
15,296

Page 7

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 January 2024
708,108


Surplus on revaluation
3,238



At 31 December 2024
711,346

The 2024 valuations were made by the directors, on an open market value for existing use basis.


2024
2023
£
£


Historic cost
485,282
485,282

485,282
485,282

Page 8

 
BANDKAY ENTERPRISES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
50,000
29,324

Prepayments and accrued income
10,078
9,558

Deferred taxation
11,740
11,594

71,818
50,476



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
50,085
45,052

Corporation tax
43,842
34,843

Other taxation and social security
26,770
26,606

Other creditors
2,621
1,697

Accruals and deferred income
4,701
7,301

128,019
115,499


 
Page 9