Registration number:
RB Construction Services Ltd
for the Year Ended 31 January 2018
RB Construction Services Ltd
Contents
Company Information |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Financial Statements |
RB Construction Services Ltd
Company Information
Directors |
Mr BW Parry Mr RJ Parry |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
RB Construction Services Ltd
for the Year Ended 31 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of RB Construction Services Ltd for the year ended 31 January 2018 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of RB Construction Services Ltd, as a body, in accordance with the terms of our instructions. Our work has been undertaken solely to prepare for your approval the accounts of RB Construction Services Ltd and state those matters that we have agreed to state to the Board of Directors of RB Construction Services Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than RB Construction Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that RB Construction Services Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of RB Construction Services Ltd. You consider that RB Construction Services Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of RB Construction Services Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Newport Pagnell
Buckinghamshire
MK16 8HJ
Page 2 |
RB Construction Services Ltd
Profit and Loss Account for the Year Ended 31 January 2018
Note |
Total |
Total |
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Turnover |
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Cost of sales |
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Gross profit |
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Administrative expenses |
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Operating profit |
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Interest payable and similar expenses |
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- |
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100 |
- |
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Profit before tax |
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Taxation |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Page 3 |
RB Construction Services Ltd
(Registration number: 09944665)
Balance Sheet as at 31 January 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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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 |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 4 |
RB Construction Services Ltd
(Registration number: 09944665)
Balance Sheet as at 31 January 2018
Approved and authorised by the
.........................................
Mr RJ Parry
Director
Page 5 |
RB Construction Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
General information |
The company is a private company limited by share capital incorporated in England and Wales, 09944665.
The address of its registered office is:
UK
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Page 6 |
RB Construction Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% straight line |
Motor vehicles |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Page 7 |
RB Construction Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company during the year, including directors, was
Tangible assets |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 February 2017 |
- |
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Additions |
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- |
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At 31 January 2018 |
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Depreciation |
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At 1 February 2017 |
- |
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Charge for the period |
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At 31 January 2018 |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
- |
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Debtors |
2018 |
2017 |
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Trade debtors |
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- |
Directors loan account |
500 |
- |
VAT control account |
- |
2,680 |
Prepayments |
1,309 |
- |
PAYE and NI debtor |
- |
2,466 |
Total current trade and other debtors |
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Page 8 |
RB Construction Services Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Creditors |
Note |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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- |
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Accruals |
800 |
960 |
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Corporation tax control |
19,802 |
9,288 |
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Deferred income |
10,000 |
10,000 |
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VAT Control account |
1,025 |
- |
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PAYE and NIC creditor |
4,624 |
- |
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Financial commitments, guarantees and contingencies |
The total amount of financial commitments not included in the balance sheet is £8,700.
Related party transactions |
Transactions with directors |
2018 |
Advances to directors |
At 31 January 2018 |
Mr BW Parry |
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The overdrawn directors loan account will be repaid by dividend within 9 months.
Page 9 |