C F Banks Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00723442 (England and Wales)

C F BANKS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2021

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mr T S Banks

Mrs E A Banks

Mr A K Banks

REGISTERED OFFICE:

Beckside House

Beckside

Scopwick

Lincoln

LN4 3NX

REGISTERED NUMBER:

00723442 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

14 London Road

Newark

Nottinghamshire

NG24 1TW

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

599,108

568,130

Investments

6

334

334

599,442

568,464

CURRENT ASSETS

Inventories

65,430

75,032

Debtors

7

835,733

864,557

Cash at bank

40,454

51,178

941,617

990,767

CREDITORS

Amounts falling due within one year

8

187,061

199,094

NET CURRENT ASSETS

754,556

791,673

TOTAL ASSETS LESS CURRENT LIABILITIES

1,353,998

1,360,137

PROVISIONS FOR LIABILITIES

8,030

3,454

NET ASSETS

1,345,968

1,356,683

CAPITAL AND RESERVES

Called up share capital

9

12,500

12,500

Retained earnings

1,333,468

1,344,183

SHAREHOLDERS' FUNDS

1,345,968

1,356,683

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2021 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.

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 and authorised for issue on 29 March 2022 and were signed on its behalf by:

Mr T S Banks - Director

Mrs E A Banks - Director

1.	STATUTORY INFORMATION

C F 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.

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.

Revenue

Revenue represents net invoiced sales of goods and services, excluding value added tax.

Intangible assets

Intangible assets consist of entitlements to the basic payment. The entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019 when the scheme ends.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost and not provided

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Inventories

Inventories are valued at the lower of cost and fair value less costs to complete and sell, 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 statement of financial position date.

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.

Basic payment

The basic payment is recognised in the financial statements in accordance with current H.M. Revenue & Customs guidance.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 July 2020

and 30 June 2021

36,636

AMORTISATION

At 1 July 2020

and 30 June 2021

36,636

NET BOOK VALUE

At 30 June 2021

-

At 30 June 2020

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2020

644,845

86,836

731,681

Additions

-

48,789

48,789

At 30 June 2021

644,845

135,625

780,470

DEPRECIATION

At 1 July 2020

94,892

68,659

163,551

Charge for year

3,845

13,966

17,811

At 30 June 2021

98,737

82,625

181,362

NET BOOK VALUE

At 30 June 2021

546,108

53,000

599,108

At 30 June 2020

549,953

18,177

568,130

Included in cost of land and buildings is freehold land of £ 452,568 (2020 - £ 452,568 ) which is not depreciated.

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2020

and 30 June 2021

334

NET BOOK VALUE

At 30 June 2021

334

At 30 June 2020

334

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

51,968

62,687

Other debtors

783,765

801,870

835,733

864,557

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

55,808

105,387

Taxation and social security

843

2,357

Other creditors

130,410

91,350

187,061

199,094

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

12,500

Ordinary

£1

12,500

12,500