G Herbert Banks LLP OC344076 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Land Agency & Auctioneering Digita Accounts Production Advanced 6.30.9574.0 true OC344076 2024-04-01 2025-03-31 OC344076 2025-03-31 OC344076 core:CurrentFinancialInstruments 2025-03-31 OC344076 core:WithinOneYear 2025-03-31 OC344076 core:FurnitureFittings 2025-03-31 OC344076 core:LandBuildings core:LongLeaseholdAssets 2025-03-31 OC344076 core:OfficeEquipment 2025-03-31 OC344076 bus:SmallEntities 2024-04-01 2025-03-31 OC344076 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 OC344076 bus:FilletedAccounts 2024-04-01 2025-03-31 OC344076 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 OC344076 bus:RegisteredOffice 2024-04-01 2025-03-31 OC344076 bus:PartnerLLP1 2024-04-01 2025-03-31 OC344076 bus:PartnerLLP2 2024-04-01 2025-03-31 OC344076 bus:PartnerLLP3 2024-04-01 2025-03-31 OC344076 bus:PartnerLLP4 2024-04-01 2025-03-31 OC344076 bus:LimitedLiabilityPartnershipLLP 2024-04-01 2025-03-31 OC344076 core:FurnitureFittings 2024-04-01 2025-03-31 OC344076 core:LandBuildings 2024-04-01 2025-03-31 OC344076 core:LandBuildings core:LongLeaseholdAssets 2024-04-01 2025-03-31 OC344076 core:OfficeEquipment 2024-04-01 2025-03-31 OC344076 countries:AllCountries 2024-04-01 2025-03-31 OC344076 2024-03-31 OC344076 core:FurnitureFittings 2024-03-31 OC344076 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 OC344076 core:OfficeEquipment 2024-03-31 OC344076 2023-04-01 2024-03-31 OC344076 2024-03-31 OC344076 core:CurrentFinancialInstruments 2024-03-31 OC344076 core:WithinOneYear 2024-03-31 OC344076 core:FurnitureFittings 2024-03-31 OC344076 core:LandBuildings core:LongLeaseholdAssets 2024-03-31 OC344076 core:OfficeEquipment 2024-03-31 iso4217:GBP xbrli:pure

Registration number: OC344076

G Herbert Banks LLP

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2025

 

G Herbert Banks LLP

Contents

Limited liability partnership information

1

Financial Statements

2 to 7

Balance Sheet

2

Notes to the Financial Statements

4

 

G Herbert Banks LLP

Limited liability partnership information

Designated members

Mr R Parry

Mr R G F Banks

Mr T Gaston

Mr N J Jethwa
 

Registered office

The Estate Office
Hill House
Great Witley
Worcs
WR6 6JB

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

G Herbert Banks LLP

(Registration number: OC344076)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

3

4,058

5,743

Current assets

 

Debtors

4

128,570

68,880

Cash and short-term deposits

 

236,541

119,536

 

365,111

188,416

Creditors: Amounts falling due within one year

5

(70,661)

(80,874)

Net current assets

 

294,450

107,542

Net assets attributable to members

 

298,508

113,285

Represented by:

 

Loans and other debts due to members

 

Members' capital classified as a liability

 

217,508

32,285

Members’ other interests

 

Members' capital classified as equity

 

81,000

81,000

   

298,508

113,285

Total members' interests

 

Loans and other debts due to members

 

217,508

32,285

Equity

 

81,000

81,000

   

298,508

113,285

For the year ending 31 March 2025 the limited liability partnership was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied to limited liability partnerships, relating to small entities.

These financial statements have been prepared in accordance with the provisions applicable to LLPs subject to the small LLPs regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

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

The members acknowledge their responsibilities for complying with the requirements of the Act, as applied to limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 with respect to accounting records and the preparation of accounts.

 

G Herbert Banks LLP

(Registration number: OC344076)
Balance Sheet as at 31 March 2025

The financial statements of G Herbert Banks LLP (registered number OC344076) were approved by the Board and authorised for issue on 11 August 2025. They were signed on behalf of the limited liability partnership by:

.........................................
Mr R G F Banks
Designated member

 

G Herbert Banks LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and with the Statement of Recommended Practice (SORP) for LLP's issued in January 2017.

General information and basis of accounting

The limited liability partnership is incorporated in the United Kingdom under the Limited Liability Partnership Act 2000. The address of the registered office is given on the limited liability partnership information page. The nature of the limited liability partnership’s operations and its principal activities are given in the members’ report.

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.

Revenue recognition

Revenue is recognised to the extent that the limited liability partnership obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Tangible fixed assets

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

20% on reducing balance

Land and buildings

33.33% straight line

Fixtures and fittings

20% on reducing balance

Trade debtors

Trade debtors are amounts due from customers for 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 limited liability partnership will not be able to collect all amounts due according to the original terms of the receivables.

 

G Herbert Banks LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

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 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 limited liability partnership 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.

2

Particulars of employees

The average number of persons employed by the limited liability partnership during the year was 12 (2024 - 8).

 

G Herbert Banks LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

3

Tangible fixed assets

Long leasehold land and buildings
£

Fixtures and fittings
 £

Office equipment
 £

Total
£

Cost

At 1 April 2024

16,226

5,258

43,264

64,748

At 31 March 2025

16,226

5,258

43,264

64,748

Depreciation

At 1 April 2024

15,893

4,533

38,579

59,005

Charge for the year

333

181

1,171

1,685

At 31 March 2025

16,226

4,714

39,750

60,690

Net book value

At 31 March 2025

-

544

3,514

4,058

At 31 March 2024

333

725

4,685

5,743

Included within the net book value of land and buildings above is Nil (2024 - Nil) in respect of freehold land and buildings and is Nil (2024 - £333) in respect of leaseholds.
 

4

Debtors

2025
£

2024
£

Trade debtors

111,759

54,868

Prepayments and accrued income

16,811

14,012

Total current trade and other debtors

128,570

68,880

 

G Herbert Banks LLP

Notes to the Financial Statements for the Year Ended 31 March 2025

5

Creditors: Amounts falling due within one year

2025
£

2024
£

Trade creditors

6,030

10,796

Other creditors

2,023

1,625

Accruals and deferred income

2,500

2,500

Taxation and social security

60,108

65,953

70,661

80,874