Company Registration No. 10495664 (England and Wales)
R&N BUILDING + DOUBLE GLAZING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
PAGES FOR FILING WITH REGISTRAR
R&N BUILDING + DOUBLE GLAZING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
R&N BUILDING + DOUBLE GLAZING LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2018
30 November 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,749
8,999
Current assets
Debtors
4
2,660
10,812
Cash at bank and in hand
2,060
5,962
4,720
16,774
Creditors: amounts falling due within one year
5
(8,705)
(22,739)
Net current liabilities
(3,985)
(5,965)
Total assets less current liabilities
2,764
3,034
Provisions for liabilities
(1,282)
(1,710)
Net assets
1,482
1,324
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
6
1,481
1,323
Total equity
1,482
1,324
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
The notes on pages 3 - 5 form an integral part of these financial statements.
For the financial year ended 30 November 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime
and FRS102 Section 1A
.
R&N BUILDING + DOUBLE GLAZING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2018
30 November 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 July 2019 and are signed on its behalf by:
Mr R F Bellamy
Director
Company Registration No. 10495664
R&N BUILDING + DOUBLE GLAZING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 3 -
1
Accounting policies
Company information
R&N Building + Double Glazing Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
76 Elmside, New Addington, Croydon, CR0 9DU.
The principal activity of the company in the year under review was that of Painting, Glazing, Building completion & finishing as well as Roofing activities.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% Reducing Balance
Motor vehicles
25% Reducing Balance
1.4
Financial instruments
The company only enters into basic financial transactions that result in recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from bank and other third parties, loans to related parties and investments in non-puttable ordinary shares.
1.5
Deferred tax
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed
at the balance sheet date.
R&N BUILDING + DOUBLE GLAZING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
1
Accounting policies
(Continued)
- 4 -
1.6
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the statement of income and retained earnings in the year that the company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in Balance sheet.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 2 (2017 - 2).
2018
2017
Number
Number
Directors
2
2
2
2
3
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 December 2017 and 30 November 2018
2,000
9,999
11,999
Depreciation and impairment
At 1 December 2017
500
2,500
3,000
Depreciation charged in the year
375
1,875
2,250
At 30 November 2018
875
4,375
5,250
Carrying amount
At 30 November 2018
1,125
5,624
6,749
At 30 November 2017
1,500
7,499
8,999
R&N BUILDING + DOUBLE GLAZING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2018
- 5 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
1,380
10,572
Other debtors
1,280
240
2,660
10,812
The directors consider the carrying value of trade and other receivables approximate to their fair value.
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
-
1,638
Corporation tax
1,513
2,515
Other taxation and social security
3,864
2,831
Other creditors
1,779
14,255
Accruals and deferred income
1,549
1,500
8,705
22,739
The directors consider the carrying amounts of current liabilities approximate to their fair values.
6
Reserves
Profit and loss reserves
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any distributions made to the company's shareholders. This is a distributable reserve.