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REGISTERED NUMBER: 00495822 (England and Wales)














J W E Banks Limited

Unaudited Financial Statements

for the Year Ended 30 November 2024






J W E Banks Limited (Registered number: 00495822)

Contents of the Financial Statements
for the Year Ended 30 November 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


J W E Banks Limited

Company Information
for the Year Ended 30 November 2024







Directors: C H Banks
A W Banks
J M Banks





Secretary: C H Banks





Registered office: St Guthlac's Lodge
Spalding Road
Crowland
Peterborough
PE6 0JW





Registered number: 00495822 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
J W E Banks Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J W E Banks Limited for the year ended 30 November 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of J W E Banks Limited, as a body, in accordance with the terms of our engagement letter dated 28 February 2019. Our work has been undertaken solely to prepare for your approval the financial statements of J W E Banks Limited and state those matters that we have agreed to state to the Board of Directors of J W E Banks Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J W E Banks Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that J W E Banks Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of J W E Banks Limited. You consider that J W E Banks Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of J W E Banks Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


28 August 2025

J W E Banks Limited (Registered number: 00495822)

Statement of Financial Position
30 November 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 3,953,782 3,616,940
Investments 6 1,665,490 1,653,047
5,619,272 5,269,987

Current assets
Stocks 566,003 762,361
Debtors 7 211,083 413,365
Cash at bank and in hand 106,668 31,502
883,754 1,207,228
Creditors
Amounts falling due within one year 8 2,227,873 1,911,733
Net current liabilities (1,344,119 ) (704,505 )
Total assets less current liabilities 4,275,153 4,565,482

Provisions for liabilities 10 174,831 199,564
Net assets 4,100,322 4,365,918

Capital and reserves
Called up share capital 11 40,054 40,054
Retained earnings 4,060,268 4,325,864
Shareholders' funds 4,100,322 4,365,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

J W E Banks Limited (Registered number: 00495822)

Statement of Financial Position - continued
30 November 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by:




C H Banks - Director A W Banks - Director




J M Banks - Director


J W E Banks Limited (Registered number: 00495822)

Notes to the Financial Statements
for the Year Ended 30 November 2024


1. Statutory information

J W E Banks Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property-10 years straight line / 10% reducing balance
Tractors -25% reducing balance
Implements -15% to 25% reducing balance

Computers

-
3 years straight line / 20% reducing balance / 33% reducing
balance
Motor vehicles-25% reducing balance

Investments in associates
Investments in associate undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.


J W E Banks Limited (Registered number: 00495822)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. Employees and directors

The average number of employees during the year was 10 (2023 - 11 ) .

5. Tangible fixed assets
Freehold Plant and Motor
property machinery Tractors vehicles Totals
£    £    £    £    £   
Cost
At 1 December 2023 3,041,218 1,335,519 772,422 63,588 5,212,747
Additions 436,077 14,000 - - 450,077
Disposals - (53,238 ) - - (53,238 )
At 30 November 2024 3,477,295 1,296,281 772,422 63,588 5,609,586
Depreciation
At 1 December 2023 113,715 922,127 511,001 48,964 1,595,807
Charge for year 5,275 55,614 36,943 3,656 101,488
Eliminated on disposal - (41,491 ) - - (41,491 )
At 30 November 2024 118,990 936,250 547,944 52,620 1,655,804
Net book value
At 30 November 2024 3,358,305 360,031 224,478 10,968 3,953,782
At 30 November 2023 2,927,503 413,392 261,421 14,624 3,616,940

Freehold property includes land and buildings costing £3,310,833 (2023 - £2,874,757) on which no depreciation has been charged.

J W E Banks Limited (Registered number: 00495822)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


6. Fixed asset investments
Interest
in
associate
£   
Cost
At 1 December 2023 1,653,047
Additions 12,443
At 30 November 2024 1,665,490
Net book value
At 30 November 2024 1,665,490
At 30 November 2023 1,653,047

J W E Banks Limited is a partner in the farming partnership, J W E Banks and Partners. The above balance represents the capital account balance.

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 164,257 385,029
Tax 20,565 -
Prepayments and accrued income 26,261 28,336
211,083 413,365

8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 102,805 53,496
Amounts owed to associates 1,889,400 1,571,492
Tax - 70,039
Social security and other taxes 8,151 -
VAT 663 7,156
Other creditors 183,647 172,610
Accruals and deferred income 43,207 36,940
2,227,873 1,911,733

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 12,500 12,500

J W E Banks Limited (Registered number: 00495822)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024


10. Provisions for liabilities
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 199,564 152,796
Other timing differences (24,733 ) 46,768
174,831 199,564

Deferred
tax
£   
Balance at 1 December 2023 199,564
Provided during year (24,733 )
Balance at 30 November 2024 174,831

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
26,703 Ordinary A 1 26,703 26,703
13,351 Ordinary B 1 13,351 13,351
40,054 40,054

12. Related party disclosures

The following balances were owed to related parties at the year end:

2024 2023
Claypack Limited £762,835 £527,144
J W E Banks and Partners £1,126,565 £1,024,348
LaSource Automotive Limited - £20,000

These balances are repayable on demand and no interest has been charged.