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Banbury Postiche Ltd |
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Financial Statements |
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for the Year Ended |
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31 December 2019 |
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REGISTERED NUMBER:
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Banbury Postiche Ltd |
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Financial Statements |
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for the Year Ended |
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31 December 2019 |
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Banbury Postiche Ltd (Registered number: 00972488) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Banbury Postiche Ltd |
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Company Information |
for the Year Ended 31 December 2019 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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5 Clarendon Place |
Leamington Spa |
Warwickshire |
CV32 5QL |
Banbury Postiche Ltd (Registered number: 00972488) |
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Balance Sheet |
31 December 2019 |
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31.12.19 | 31.12.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Other reserves | 10 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
signed on its behalf by: |
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Banbury Postiche Ltd (Registered number: 00972488) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2019 |
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1. | STATUTORY INFORMATION |
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Banbury Postiche Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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The parent company of Banbury Postiche Limited is BAHN Investments Limited a private company |
incorporated in England. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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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. |
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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. |
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Tangible fixed assets |
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Plant and machinery | - |
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Office equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
Banbury Postiche Ltd (Registered number: 00972488) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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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. |
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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. |
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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. |
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Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 January 2019 |
and 31 December 2019 |
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AMORTISATION |
At 1 January 2019 |
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Charge for year |
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At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Banbury Postiche Ltd (Registered number: 00972488) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
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COST |
At 1 January 2019 |
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Additions |
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Disposals | ( |
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Transfer to ownership | (9,533 | ) |
At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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Transfer to ownership | (9,533 | ) |
At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
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Plant and |
machinery |
etc |
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COST |
At 1 January 2019 |
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Transfer to ownership | (9,533 | ) |
At 31 December 2019 |
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DEPRECIATION |
At 1 January 2019 |
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Charge for year |
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Transfer to ownership | (9,533 | ) |
At 31 December 2019 |
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NET BOOK VALUE |
At 31 December 2019 |
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At 31 December 2018 |
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Banbury Postiche Ltd (Registered number: 00972488) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.19 | 31.12.18 |
£ | £ |
Finance leases (see note 8) |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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8. | LEASING AGREEMENTS |
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The amount payable under non-cancellable operating leases within one year is £4,700 (2018 £4,700) and |
between one and five years is £3,345 (2018 £8,045). |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.19 | 31.12.18 |
value: | £ | £ |
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Ordinary | £1 | 217,000 | 217,000 |
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10. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
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At 1 January 2019 |
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233,923 |
Profit for the year |
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Dividends | ( |
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At 31 December 2019 |
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242,238 |
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Other reserves of £72,883 shown above are non distributable. |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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Banbury Postiche Ltd (Registered number: 00972488) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2019 |
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12. | RELATED PARTY DISCLOSURES |
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Transactions between related parties are at market value and although not required to be disclosed are shown |
here for completeness. |
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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 £246,535. Dividends of £116,000 were paid to the parent undertaking BAHN Investments Limited |
during the year. |
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13. | FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES |
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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. |
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14. | ULTIMATE CONTROLLING PARTY |
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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. |
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15. | SECURED CREDITORS |
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The NatWest Bank Plc holds a mortgage debenture dated 13/07/99 incorporating a fixed and floating charge |
over all assets of the company. A guarantee dated 29/11/2018 for £715,000 has been given on behalf of the |
parent company. |