REGISTERED NUMBER: 07862852 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2019

for

A R Banks Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Stuart Christopher Banks

SECRETARY:

Sarah Banks

REGISTERED OFFICE:

Castle Farm Barn North

Denmead Road

Southwick

Fareham

Hampshire

PO17 6EX

REGISTERED NUMBER:

07862852 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Tangible assets

4

855,203

565,861

CURRENT ASSETS

Debtors

5

130,621

97,315

Cash at bank

45,722

43,986

176,343

141,301

CREDITORS

Amounts falling due within one year

6

218,064

116,811

NET CURRENT (LIABILITIES)/ASSETS

(41,721

)

24,490

TOTAL ASSETS LESS CURRENT LIABILITIES

813,482

590,351

CREDITORS

Amounts falling due after more than one year

7

560,504

445,872

NET ASSETS

252,978

144,479

CAPITAL AND RESERVES

Called up share capital

8

120

100

Retained earnings

252,858

144,379

SHAREHOLDERS' FUNDS

252,978

144,479

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 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.

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 director on 30 September 2019 and were signed by:

Stuart Christopher Banks - Director

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 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.

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 and 5% on reducing balance

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 8 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 May 2018

605,490

Additions

324,875

At 30 April 2019

930,365

DEPRECIATION

At 1 May 2018

39,629

Charge for year

35,533

At 30 April 2019

75,162

NET BOOK VALUE

At 30 April 2019

855,203

At 30 April 2018

565,861

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

follows:

Plant and

machinery

£

COST

At 1 May 2018

600,740

Additions

324,875

At 30 April 2019

925,615

DEPRECIATION

At 1 May 2018

39,629

Charge for year

35,058

At 30 April 2019

74,687

NET BOOK VALUE

At 30 April 2019

850,928

At 30 April 2018

561,111

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Trade debtors

130,621

96,136

Other debtors

-

1,179

130,621

97,315

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

184,242

84,340

Trade creditors

5,341

2

Taxation and social security

17,571

8,182

Other creditors

10,910

24,287

218,064

116,811

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.19

30.4.18

£

£

Hire purchase contracts

560,504

445,872

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.19

30.4.18

value:

£

£

100

Ordinary

£1

100

100

10

Ordinary A shares

£1

10

-

10

Ordinary B shares

£1

10

-

120

100

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

30 April 2019 and 30 April 2018:

30.4.19

30.4.18

£

£

Stuart Christopher Banks

Balance outstanding at start of year

(10,467

)

(20,676

)

Amounts advanced

10,465

15,209

Amounts repaid

-

(5,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2

)

(10,467

)

Included in creditors is an amount due to director of £2 (2017 - £10,467). This loan is

interest free, undated , unsecured and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

Stuart Christopher Banks has controlling interest in the company.