Company No:
Contents
DIRECTORS | Jeremy Paul Blake Rihll |
Jeffrey Mark Slade |
REGISTERED OFFICE | Lorams |
Perkins Village | |
Exeter | |
EX5 2JG | |
United Kingdom |
COMPANY NUMBER | 08698606 (England and Wales) |
CHARTERED ACCOUNTANTS | Bishop Fleming LLP |
Stratus House | |
Emperor Way | |
Exeter Business Park | |
Exeter | |
EX1 3QS |
Note | 2021 | 2020 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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100 | 0 | |||
Current assets | ||||
Stocks |
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Debtors | 4 |
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Cash at bank and in hand |
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1,357,556 | 423,050 | |||
Creditors | ||||
Amounts falling due within one year | 5 | (
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Net current assets | 285,354 | 293,307 | ||
Total assets less current liabilities | 285,454 | 293,307 | ||
Creditors | ||||
Amounts falling due after more than one year | 6 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of RS Developments (South West) Ltd (registered number:
Jeremy Paul Blake Rihll
Director |
Jeffrey Mark Slade
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
RS Developments (South West) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lorams, Perkins Village, Exeter, EX5 2JG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
2021 | 2020 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Investments in subsidiaries
2021 | |
£ | |
Cost | |
At 01 October 2020 |
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Additions |
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At 30 September 2021 |
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Carrying value at 30 September 2021 |
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Carrying value at 30 September 2020 |
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2021 | 2020 | ||
£ | £ | ||
Accrued income |
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VAT recoverable |
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Other debtors |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Trade creditors |
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Amounts owed to own subsidiaries |
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Amounts owed to directors |
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Other creditors |
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Accruals |
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Corporation tax |
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Other taxation and social security |
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2021 | 2020 | ||
£ | £ | ||
Bank loans |
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Amounts repayable after more than 5 years are included in creditors falling due over one year:
2021 | 2020 | ||
£ | £ | ||
Bank loans |
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2021 | 2020 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's directors
2021 | 2020 | ||
£ | £ | ||
Amounts owed to the Directors | 1,000,000 | 60,488 | |
0 | 0 |
Interest of £7,270 (2020: £1,138) has been charged on the loan at the year end and included within accruals. There are no set repayment terms.