Banbury Postiche Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00972488 (England and Wales)

Banbury Postiche Ltd

Financial Statements

for the Year Ended

31 December 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Nicholas Christopher Allen

Roy James Henderson

SECRETARY:

Roy James Henderson

REGISTERED OFFICE:

Unit 10-14, Apollo Park

Ironstone Lane

Wroxton

Banbury,

Oxfordshire

OX15 6FE

REGISTERED NUMBER:

00972488 (England and Wales)

SENIOR STATUTORY AUDITOR:

Geoffrey Gilbert FCA

AUDITORS:

Moffat Gilbert

5 Clarendon Place

Leamington Spa

Warwickshire

CV32 5QL

FIXED ASSETS

Intangible assets

4

1,115

-

Tangible assets

5

118,497

129,287

119,612

129,287

CURRENT ASSETS

Stocks

480,597

521,072

Debtors

6

243,567

277,205

Cash at bank and in hand

139,693

218,954

863,857

1,017,231

CREDITORS

Amounts falling due within one year

7

511,264

623,446

NET CURRENT ASSETS

352,593

393,785

TOTAL ASSETS LESS CURRENT LIABILITIES

472,205

523,072

CREDITORS

Amounts falling due after more than one year

8

-

(2,971

)

PROVISIONS FOR LIABILITIES

(21,282

)

(23,062

)

NET ASSETS

450,923

497,039

CAPITAL AND RESERVES

Called up share capital

10

217,000

217,000

Other reserves

11

72,883

72,883

Retained earnings

11

161,040

207,156

SHAREHOLDERS' FUNDS

450,923

497,039

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 17 September 2019 and were signed on its behalf by:

Roy James Henderson - Director

Nicholas Christopher Allen - Director

1.	STATUTORY INFORMATION

Banbury Postiche Ltd 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 parent company of Banbury Postiche Limited is BAHN Investments Limited a private company

incorporated in England.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. 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.

Revenue is recognised once substantially all the risks and rewards of ownership have passed to the customer. For

the majority of sales, which relates to sale of stock items, this is when the order is despatched with the sales

invoice. For bespoke wigs it is when the item is completed and the customer has approved the item. Any wigs in

progress at the year end are included in work in progress.

Intangible assets

Intangible assets are capitalised in the balance sheet and amortisation is charged on a straight line basis in order

to write off the cost over their estimated useful life.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

10% on cost

Fixtures and fittings

-

25% on 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 Income Statement, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 30 (2017 - 28 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2018

6,652

Additions

1,206

At 31 December 2018

7,858

AMORTISATION

At 1 January 2018

6,652

Charge for year

91

At 31 December 2018

6,743

NET BOOK VALUE

At 31 December 2018

1,115

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

214,572

Additions

26,260

At 31 December 2018

240,832

DEPRECIATION

At 1 January 2018

85,285

Charge for year

37,050

At 31 December 2018

122,335

NET BOOK VALUE

At 31 December 2018

118,497

At 31 December 2017

129,287

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

9,533

DEPRECIATION

At 1 January 2018

3,575

Charge for year

3,178

At 31 December 2018

6,753

NET BOOK VALUE

At 31 December 2018

2,780

At 31 December 2017

5,958

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

226,113

257,684

Other debtors

320

320

Prepayments

17,134

19,201

243,567

277,205

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Finance leases (see note 9)

2,971

3,257

Trade creditors

214,794

321,499

Amounts owed to group undertakings

173,311

112,582

Tax

3,982

54,959

Social security and other taxes

77,769

85,258

Other creditors

2,318

958

Accrued expenses

36,119

44,933

511,264

623,446

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Finance leases (see note 9)

-

2,971

9.	LEASING AGREEMENTS

The amount payable under non-cancellable operating leases within one year is £4,700 (2017 £3,738) and

between one and five years is £8,045 (2017 £6,305).

The amount payable under finance leases and hire purchase agreements within one year is £3,051 (2017 £3,661)

and between one and five years is nil (2017 £3,051).

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

217,000

Ordinary

£1

217,000

217,000

11.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 January 2018

207,156

72,883

280,039

Profit for the year

83,884

83,884

Dividends

(130,000

)

(130,000

)

At 31 December 2018

161,040

72,883

233,923

Other reserves of £72,883 shown above are non distributable.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Geoffrey Gilbert FCA (Senior Statutory Auditor)

for and on behalf of Moffat Gilbert

13.	RELATED PARTY DISCLOSURES

Transactions between related parties are at market value and although not required to be disclosed are shown

here for completeness.

The company paid management charges to its parent undertaking during the year of £80,000 and rent for

business premises of £50,000 . The amount owed by the company to BAHN Investments Limited at the year end

amounted to £173,311. Dividends of £130,000 were paid to the parent undertaking BAHN Investments Limited

during the year.

14.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements and to provide tax advice and to

represent us, if necessary, at tax tribunals.

15.	ULTIMATE CONTROLLING PARTY

The directors Nicholas Christopher Allen and Roy James Henderson are regarded as the joint ultimate

controlling parties by virtue of their shareholdings in the ultimate parent company.

16.	SECURED CREDITORS

The NatWest Bank Plc holds an unscheduled mortgage debenture dated 13/07/99 incorporating a fixed and

floating charge over all assets of the company.