REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
R I Works Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
R I Works Ltd |
R I Works Ltd (Registered number: 07359669) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
R I Works Ltd |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
67 Westow Street |
London |
SE19 3RW |
R I Works Ltd (Registered number: 07359669) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
R I Works Ltd (Registered number: 07359669) |
Balance Sheet - continued |
31 May 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
R I Works Ltd (Registered number: 07359669) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
R I Works Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
R I Works Ltd (Registered number: 07359669) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2022 |
Additions |
At 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 June 2022 |
and 31 May 2023 |
DEPRECIATION |
At 1 June 2022 |
Charge for year |
At 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Trade debtors |
Other debtors |
R I Works Ltd (Registered number: 07359669) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.23 | 31.5.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | RELATED PARTY DISCLOSURES |
The company was charged £60,000 by Bencewell Properties Limited for office rent. Mr N Chadd is a director of Bencewell Properties Limited. |
Other debtors due within 1 year, includes £179,900 due from National Investments (SE) Ltd; a company wholly owned by the director, N J Chadd. |
Other creditors due within 1 year includes £149,727 due to Bencewell Properties Ltd and £83,822 due to RI Brickwork and Construction, both companies wholly owned by N J Chadd |