Banbury Postiche Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00972488 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

BANBURY POSTICHE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N C Allen

R J Henderson

SECRETARY:

R J Henderson

REGISTERED OFFICE:

Unit 10-14 Apollo Business Park

Ironstone Lane

Wroxton

Banbury

Oxfordshire

OX15 6FE

REGISTERED NUMBER:

00972488 (England and Wales)

ACCOUNTANTS:

Cooke Watts & Co Ltd

Vectis House

Banbury Street

Kineton

Warwick

Warwickshire

CV35 0JS

FIXED ASSETS

Intangible assets

4

25,367

754

Tangible assets

5

169,609

181,325

194,976

182,079

CURRENT ASSETS

Stocks

675,773

635,139

Debtors

6

130,757

181,778

Cash at bank and in hand

67,324

118,370

873,854

935,287

CREDITORS

Amounts falling due within one year

7

335,981

547,822

NET CURRENT ASSETS

537,873

387,465

TOTAL ASSETS LESS CURRENT LIABILITIES

732,849

569,544

CREDITORS

Amounts falling due after more than one year

8

(280,516

)

(121,439

)

PROVISIONS FOR LIABILITIES

(31,669

)

(33,772

)

NET ASSETS

420,664

414,333

CAPITAL AND RESERVES

Called up share capital

10

217,000

217,000

Other reserves

72,883

72,883

Retained earnings

130,781

124,450

SHAREHOLDERS' FUNDS

420,664

414,333

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 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 22 August 2023 and were signed on its behalf by:

R J Henderson - Director

N C Allen - Director

1.	STATUTORY INFORMATION

Banbury Postiche 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.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

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

Motor vehicles

-

15% on reducing balance

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 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.

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 31 (2021 - 27 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2022

7,858

Additions

26,753

At 31 December 2022

34,611

AMORTISATION

At 1 January 2022

7,104

Charge for year

2,140

At 31 December 2022

9,244

NET BOOK VALUE

At 31 December 2022

25,367

At 31 December 2021

754

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2022

401,119

Additions

27,873

At 31 December 2022

428,992

DEPRECIATION

At 1 January 2022

219,794

Charge for year

39,589

At 31 December 2022

259,383

NET BOOK VALUE

At 31 December 2022

169,609

At 31 December 2021

181,325

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2022

123,280

Additions

20,635

At 31 December 2022

143,915

DEPRECIATION

At 1 January 2022

10,787

Charge for year

18,594

At 31 December 2022

29,381

NET BOOK VALUE

At 31 December 2022

114,534

At 31 December 2021

112,493

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

115,356

144,718

Other debtors

1,420

1,420

Prepayments

13,981

35,640

130,757

181,778

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

20,000

20,000

Hire purchase contracts

24,770

19,489

Trade creditors

178,875

171,707

Amounts owed to group undertakings

-

241,607

Tax

8,532

1,152

Social security and other taxes

7,035

7,102

VAT

31,917

50,330

Other creditors

2,493

2,629

Accrued expenses

62,359

33,806

335,981

547,822

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

20,000

20,000

Bank loans - 2-5 years

5,000

25,000

Hire purchase contracts

65,949

76,439

Amounts owed to group undertakings

189,567

-

280,516

121,439

9.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

90,719

95,928

National Westminster Bank plc holds a mortgage debenture, dated 13 July 1999, incorporating a fixed and floating charge over all the assets of the company. A guarantee, dated 19 November 2018, for £715,000, has been given on behalf of the parent company, BAHN Investments Limited.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

217,000

Ordinary

1

217,000

217,000

11.	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 BAHN Investments Limited.