Silverfin false false 31/01/2025 01/02/2024 31/01/2025 D C Banbury P D Banbury 01/02/2000 R J Banbury R F Banbury S E Banbury 27/07/2017 S D Bennett 27/07/2017 N J White 30/11/2015 28 July 2025 The principal activity of the company during the financial year was the operation of a department store. 00204605 2025-01-31 00204605 bus:Director2 2025-01-31 00204605 bus:Director5 2025-01-31 00204605 bus:Director6 2025-01-31 00204605 bus:Director7 2025-01-31 00204605 2024-01-31 00204605 core:CurrentFinancialInstruments 2025-01-31 00204605 core:CurrentFinancialInstruments 2024-01-31 00204605 core:Non-currentFinancialInstruments 2025-01-31 00204605 core:Non-currentFinancialInstruments 2024-01-31 00204605 core:ShareCapital 2025-01-31 00204605 core:ShareCapital 2024-01-31 00204605 core:RetainedEarningsAccumulatedLosses 2025-01-31 00204605 core:RetainedEarningsAccumulatedLosses 2024-01-31 00204605 core:LandBuildings 2024-01-31 00204605 core:OtherPropertyPlantEquipment 2024-01-31 00204605 core:LandBuildings 2025-01-31 00204605 core:OtherPropertyPlantEquipment 2025-01-31 00204605 core:CurrentFinancialInstruments core:Secured 2025-01-31 00204605 core:MoreThanFiveYears 2025-01-31 00204605 core:MoreThanFiveYears 2024-01-31 00204605 2024-02-01 2025-01-31 00204605 bus:FilletedAccounts 2024-02-01 2025-01-31 00204605 bus:SmallEntities 2024-02-01 2025-01-31 00204605 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 00204605 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 00204605 bus:Director1 2024-02-01 2025-01-31 00204605 bus:Director2 2024-02-01 2025-01-31 00204605 bus:Director3 2024-02-01 2025-01-31 00204605 bus:Director4 2024-02-01 2025-01-31 00204605 bus:Director5 2024-02-01 2025-01-31 00204605 bus:Director6 2024-02-01 2025-01-31 00204605 bus:Director7 2024-02-01 2025-01-31 00204605 core:LandBuildings core:TopRangeValue 2024-02-01 2025-01-31 00204605 core:OtherPropertyPlantEquipment 2024-02-01 2025-01-31 00204605 2023-02-01 2024-01-31 00204605 core:LandBuildings 2024-02-01 2025-01-31 00204605 core:CurrentFinancialInstruments 2024-02-01 2025-01-31 00204605 core:Non-currentFinancialInstruments 2024-02-01 2025-01-31 iso4217:GBP xbrli:pure

Company No: 00204605 (England and Wales)

BANBURYS LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

BANBURYS LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

BANBURYS LIMITED

BALANCE SHEET

As at 31 January 2025
BANBURYS LIMITED

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 2,193,356 2,227,030
Investments 4 541,811 541,811
2,735,167 2,768,841
Current assets
Stocks 608,283 607,633
Debtors 5 538,577 492,657
Cash at bank and in hand 5,511 5,247
1,152,371 1,105,537
Creditors: amounts falling due within one year 6 ( 866,847) ( 802,525)
Net current assets 285,524 303,012
Total assets less current liabilities 3,020,691 3,071,853
Creditors: amounts falling due after more than one year 7 ( 361,150) ( 404,345)
Provision for liabilities ( 20,225) ( 18,263)
Net assets 2,639,316 2,649,245
Capital and reserves
Called-up share capital 28,698 28,698
Profit and loss account 2,610,618 2,620,547
Total shareholders' funds 2,639,316 2,649,245

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Banburys Limited (registered number: 00204605) were approved and authorised for issue by the Board of Directors on 28 July 2025. They were signed on its behalf by:

P D Banbury
Director
BANBURYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
BANBURYS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Banburys Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 32 High Street, Barnstaple, Devon, EX31 1BN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents amounts receivable, net of value added tax and trade discounts, in respect of the sale of goods and services to customers and is measured at the fair value of consideration received or receivable. Turnover is recognised on goods at the point of sale and on services over the period in which the services are rendered.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either other debtors or other creditors in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
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 financial statements. 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 tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Other operating income

Other operating income includes commissions receivable on retail goods and management charges receivable from subsidiaries, and is measured at the fair value of consideration received or receivable. Commission income is recognised at the point of sale of the goods upon which the commission is receivable, and management charges are recognised over the period in which management services are rendered.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings 50 years straight line
Plant and machinery etc. 12.5 - 33.3 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stock comprises goods for resale and is valued at the current selling price less the standard gross profit margin, reduced for any impairment which is recognised immediately in the profit and loss account.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Loans and 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 39 39

3. Tangible assets

Land and buildings Plant and machinery etc. Total
£ £ £
Cost
At 01 February 2024 3,645,992 1,689,886 5,335,878
Additions 0 46,607 46,607
Disposals 0 ( 10,600) ( 10,600)
At 31 January 2025 3,645,992 1,725,893 5,371,885
Accumulated depreciation
At 01 February 2024 1,454,960 1,653,888 3,108,848
Charge for the financial year 59,103 20,617 79,720
Disposals 0 ( 10,039) ( 10,039)
At 31 January 2025 1,514,063 1,664,466 3,178,529
Net book value
At 31 January 2025 2,131,929 61,427 2,193,356
At 31 January 2024 2,191,032 35,998 2,227,030

4. Fixed asset investments

2025 2024
£ £
Subsidiary undertakings 541,811 541,811

5. Debtors

2025 2024
£ £
Amounts owed by Group undertakings 511,569 464,342
Other debtors 27,008 28,315
538,577 492,657

6. Creditors: amounts falling due within one year

2025 2024
£ £
Bank loans and overdrafts (secured) 576,071 479,158
Trade creditors 72,143 89,903
Taxation and social security 126,693 145,531
Other creditors 91,940 87,933
866,847 802,525

Bank loans and overdrafts comprise an overdraft balance of £532,555 (2024 - £438,072) and a bank loan of £43,516 (2024 - £41,086) which are secured on the company's freehold property and floating charges over the assets and undertakings of the company, including those of its subsidiary, Eastmond and Son Limited.

7. Creditors: amounts falling due after more than one year

2025 2024
£ £
Bank loans (secured) 361,150 404,345

Bank loans of £361,150 (2024 - £404,345) are secured on the company's freehold property and floating charges over the assets and undertakings of the company, including those of its subsidiary, Eastmond and Son Limited.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2025 2024
£ £
Bank loans (secured / repayable by instalments) 189,819 222,483

8. Financial commitments

Commitments

2025 2024
£ £
Total future minimum lease payments under non-cancellable operating lease 0 35,000