A R Banks Ltd - Accounts to registrar (filleted) - small 17.3

A R Banks Ltd - Accounts to registrar (filleted) - small 17.3


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REGISTERED NUMBER: 07862852(England and Wales)















Unaudited Financial Statements for the Year Ended 30 April 2017

for

A R Banks Ltd

A R Banks Ltd (Registered number: 07862852)






Contents of the Financial Statements
for the Year Ended 30 April 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A R Banks Ltd

Company Information
for the Year Ended 30 April 2017







DIRECTOR: Stuart Christopher Banks





SECRETARY: Sarah Banks





REGISTERED OFFICE: Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX





BUSINESS ADDRESS: 1 Alderman Gardens
Portsmouth
Hampshire
PO3 6FX





REGISTERED NUMBER: 07862852(England and Wales)





ACCOUNTANTS: KT Accountants Limited
Castle Farm Barn North
Denmead Road
Southwick
Hampshire
PO17 6EX

A R Banks Ltd (Registered number: 07862852)

Balance Sheet
30 April 2017

30.4.17 30.4.16
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 335,151 223,873

CURRENT ASSETS
Debtors 5 109,944 46,890
Cash at bank 49,808 34,650
159,752 81,540
CREDITORS
Amounts falling due within one year 6 157,142 137,335
NET CURRENT ASSETS/(LIABILITIES) 2,610 (55,795 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

337,761

168,078

CREDITORS
Amounts falling due after more than
one year

7

229,904

129,679
NET ASSETS 107,857 38,399

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 107,757 38,299
SHAREHOLDERS' FUNDS 107,857 38,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

A R Banks Ltd (Registered number: 07862852)

Balance Sheet - continued
30 April 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 22 January 2018and were signed by:





Stuart Christopher Banks- Director


A R Banks Ltd (Registered number: 07862852)

Notes to the Financial Statements
for the Year Ended 30 April 2017

1. STATUTORY INFORMATION

A R Banks 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 presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
This is the first year the company has presented its financial statements under Financial Reporting Standard 102 Section 1a (FRS102 (1a)) issued by the Financial Reporting Council. The last financial statements for the year ended 30 April 2016, were prepared under the previous UK GAAP. The transition date to FRS102 (1a) is therefore 01 May 2016.

There were no material adjustments required on transition to FRS102 (1a) and as such it
has not been necessary to restate prior year comparatives following implementation of
FRS102 (1a).

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 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 reducing balance
Motor vehicles - 25% on reducing balance

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.


A R Banks Ltd (Registered number: 07862852)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11(2016 - 9) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2016 265,500 12,321 277,821
Additions 293,640 - 293,640
Disposals (175,500 ) (12,321 ) (187,821 )
At 30 April 2017 383,640 - 383,640
DEPRECIATION
At 1 May 2016 48,558 5,390 53,948
Charge for year 37,239 - 37,239
Eliminated on disposal (37,308 ) (5,390 ) (42,698 )
At 30 April 2017 48,489 - 48,489
NET BOOK VALUE
At 30 April 2017 335,151 - 335,151
At 30 April 2016 216,942 6,931 223,873

A R Banks Ltd (Registered number: 07862852)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as
follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 May 2016 265,500 12,321 277,821
Additions 293,640 - 293,640
Disposals (175,500 ) (12,321 ) (187,821 )
At 30 April 2017 383,640 - 383,640
DEPRECIATION
At 1 May 2016 48,558 5,390 53,948
Charge for year 37,239 - 37,239
Eliminated on disposal (37,308 ) (5,390 ) (42,698 )
At 30 April 2017 48,489 - 48,489
NET BOOK VALUE
At 30 April 2017 335,151 - 335,151
At 30 April 2016 216,942 6,931 223,873

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.17 30.4.16
£    £   
Trade debtors 103,944 32,723
Other debtors 6,000 12,750
VAT - 1,417
109,944 46,890

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.17 30.4.16
£    £   
Hire purchase contracts 74,700 70,365
Trade creditors 1,944 6,671
Social security and other taxes 10,493 5,804
VAT 35,379 -
Other creditors 9,000 20,200
Directors' current accounts 20,676 32,095
Accrued expenses 4,950 2,200
157,142 137,335

A R Banks Ltd (Registered number: 07862852)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.4.17 30.4.16
£    £   
Hire purchase contracts 229,904 129,679

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended
30 April 2017 and 30 April 2016:

30.4.17 30.4.16
£    £   
Stuart Christopher Banks
Balance outstanding at start of year (32,095 ) (20,717 )
Amounts advanced 16,419 17,122
Amounts repaid (5,000 ) (28,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (20,676 ) (32,095 )

Included in creditors is an amount due to director of £20,676 (2016 - £32,095). This loan is
interest free, undated , unsecured and repayable on demand.

9. ULTIMATE CONTROLLING PARTY

Stuart Christopher Banks has controlling interest in the company.