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Unaudited Financial Statements |
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for the Year Ended 30 November 2021 |
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for |
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R&N Building + Double Glazing Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 November 2021 |
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for |
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R&N Building + Double Glazing Limited |
R&N Building + Double Glazing Limited (Registered number: 10495664) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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R&N Building + Double Glazing Limited |
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Company Information |
for the Year Ended 30 November 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Airport House |
Suite 43-45 |
Purley Way |
Croydon |
CR0 0XZ |
R&N Building + Double Glazing Limited (Registered number: 10495664) |
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Balance Sheet |
30 November 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | 9 |
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The directors acknowledge their 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&N Building + Double Glazing Limited (Registered number: 10495664) |
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Balance Sheet - continued |
30 November 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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R&N Building + Double Glazing Limited (Registered number: 10495664) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2021 |
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1. | STATUTORY INFORMATION |
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R&N Building + Double Glazing Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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The principal activity of the company in the year under review was that of Painting, Glazing, Building completion & finishing as well as Roofing activities. |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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TURNOVER |
Turnover represents amounts receivable for glazing and window installation net of VAT and trade discounts. |
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TANGIBLE FIXED ASSETS |
Tangible fixed assets are initially measured at cost and subsequently measured at cost valuation, net of depreciation and any impairment losses. |
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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: |
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Plant and machinery 25% Reducing Balance |
Motor vehicles 25% Reducing Balance |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
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GOVERNMENT GRANTS |
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model. |
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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. |
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TAXATION |
The tax expense represents the sum of the tax currently payable and deferred tax. |
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CURRENT TAX |
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
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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 (Registered number: 10495664) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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2. | ACCOUNTING POLICIES - continued |
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PROVISIONS FOR LIABILITIES |
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. |
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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. |
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When payments are eventually made, they are charged to the provision carried in Balance sheet. |
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GOING CONCERN |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 December 2020 |
and 30 November 2021 |
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DEPRECIATION |
At 1 December 2020 |
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Charge for year |
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At 30 November 2021 |
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NET BOOK VALUE |
At 30 November 2021 |
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At 30 November 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Other debtors |
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The directors consider the carrying value of trade and other receivables approximate to their fair value. |
R&N Building + Double Glazing Limited (Registered number: 10495664) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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The directors consider the carrying amounts of current liabilities approximate to their fair values. |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 years | 6,022 | - |
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8. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 541 | 721 |
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Deferred |
tax |
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Balance at 1 December 2020 |
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Provided during year | ( |
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Balance at 30 November 2021 |
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9. | RESERVES |
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PROFIT AND LOSS RESERVES |
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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. |
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10. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, included in other debtors are amount receivable of £10,579 (2020 - £17 included in other creditors) from the directors of the company. |
R&N Building + Double Glazing Limited (Registered number: 10495664) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2021 |
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11. | EVENT DURING THE REPORTING PERIOD |
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The Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide and the UK government continued to impose restrictions in 2021. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success. |