Company Registration No. 04438076 (England and Wales)
R.W.S. DEVELOPMENTS LTD
Unaudited accounts
for the year ended 31 May 2022
R.W.S. DEVELOPMENTS LTD
Unaudited accounts
Contents
R.W.S. DEVELOPMENTS LTD
Company Information
for the year ended 31 May 2022
Director
Lesley Penelope Collis
Secretary
John Patrick Collis
Company Number
04438076 (England and Wales)
Registered Office
Lamorna
Upper Dobbin Lane, Trevone
Padstow
Cornwall
PL28 8QR
Accountants
Linggard and Thomas
Mor Workspace
Treloggan Lane
Newquay
Cornwall
TR7 2FP
R.W.S. DEVELOPMENTS LTD
Statement of financial position
as at
31 May 2022
Tangible assets
9,801
12,931
Investment property
450,000
450,000
Inventories
73,548
73,548
Cash at bank and in hand
8,361
1,480
Creditors: amounts falling due within one year
(19,829)
(28,098)
Net current assets
66,185
46,930
Total assets less current liabilities
525,986
509,861
Provisions for liabilities
Deferred tax
(13,790)
(10,982)
Net assets
512,196
498,879
Revaluation reserve
157,698
157,698
Profit and loss account
354,298
340,981
Shareholders' funds
512,196
498,879
For the year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 February 2023 and were signed on its behalf by
Lesley Penelope Collis
Director
Company Registration No. 04438076
R.W.S. DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 May 2022
R.W.S. DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 04438076. The registered office is Lamorna, Upper Dobbin Lane, Trevone, Padstow, Cornwall, PL28 8QR.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% Reducing balance
Motor vehicles
25% Reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
R.W.S. DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 May 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 June 2021
5,109
18,574
23,683
At 31 May 2022
5,109
18,574
23,683
At 1 June 2021
4,083
6,669
10,752
Charge for the year
154
2,976
3,130
At 31 May 2022
4,237
9,645
13,882
At 31 May 2022
872
8,929
9,801
At 31 May 2021
1,026
11,905
12,931
5
Investment property
2022
Fair value at 1 June 2021
450,000
Amounts falling due after more than one year
7
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
6,628
3,427
Other creditors
10,584
16,415
Loans from directors
-
6,225
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loan
-
(4,075)
-
(4,075)
The loan was repaid within 9 months of the year end.
R.W.S. DEVELOPMENTS LTD
Notes to the Accounts
for the year ended 31 May 2022
9
Average number of employees
During the year the average number of employees was 0 (2021: 0).