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REGISTERED NUMBER: 04404670 (England and Wales)


















Riley Engineering Limited

Unaudited Financial Statements for the Year Ended 31st March 2018






Riley Engineering Limited (Registered number: 04404670)






Contents of the Financial Statements
for the year ended 31st March 2018




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Riley Engineering Limited

Company Information
for the year ended 31st March 2018







DIRECTORS: K Riley
D Riley





SECRETARY: Mrs J Lamb





REGISTERED OFFICE: Heritage Works
Ellifoot Lane
Burstwick
East Yorkshire
HU12 9EF





REGISTERED NUMBER: 04404670 (England and Wales)





ACCOUNTANTS: Smailes Goldie
Chartered Accountants
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

Riley Engineering Limited (Registered number: 04404670)

Balance Sheet
31st March 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 388,623 388,528

CURRENT ASSETS
Stocks 1,500 1,500
Debtors 5 140,783 155,516
Cash at bank and in hand 31,145 16,346
173,428 173,362
CREDITORS
Amounts falling due within one year 6 137,212 157,416
NET CURRENT ASSETS 36,216 15,946
TOTAL ASSETS LESS CURRENT
LIABILITIES

424,839

404,474

CREDITORS
Amounts falling due after more than one
year

7

(24,724

)

(42,837

)

PROVISIONS FOR LIABILITIES (26,627 ) (25,926 )

ACCRUALS AND DEFERRED INCOME (35,720 ) (36,480 )
NET ASSETS 337,768 299,231

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 337,668 299,131
SHAREHOLDERS' FUNDS 337,768 299,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

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.

Riley Engineering Limited (Registered number: 04404670)

Balance Sheet - continued
31st March 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 24th October 2018 and were signed on
its behalf by:





K Riley - Director


Riley Engineering Limited (Registered number: 04404670)

Notes to the Financial Statements
for the year ended 31st March 2018

1. STATUTORY INFORMATION

Riley Engineering Limited is a private company, limited by shares , registered in England and Wales.
The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Sale of goods
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the
goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable
that the economic benefits associated with the transaction will flow to the company and the costs
incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on
dispatch of the goods.

Construction contracts
When the outcome of a construction contact can be estimated reliably, contract costs and turnover are
recognised by reference to the stage of completion at the balance sheet date. Stage of completion is
measured by reference to costs incurred to date and estimated costs to complete.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the
period in which they are incurred and contract turnover is recognised to the extent of costs incurred
that it is probable will be recoverable.

When it is probable that contact costs will exceed the total contact turnover, the expected loss is
recognised as an expense immediately, with a corresponding provision.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on cost and 10% to 20%

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost
includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its
present location and condition. Cost is calculated using the first-in, first-out formula. Provision is
made for damaged, obsolete and slow-moving stock where appropriate.

Long term contracts are stated at cost net of amounts transferred to cost of sales less any foreseeable
losses and progress payments receivable, not matched with turnover. Cost consists of direct
materials, direct labour and appropriate related overheads.

Profit on long term contracts is recognised when the outcome of contracts can be assessed with
reasonable certainty and is that amount which is estimated to fairly reflect the profit arising up to the
accounting date. Profit on long term contracts is recognised in the profit and loss account as the
difference between the reported turnover and related costs.


Riley Engineering Limited (Registered number: 04404670)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss)
for the current or past reporting periods. It is measured at the amount expected to be paid or
recovered using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the
financial statements of current and previous periods. It is recognised in respect of all timing
differences, with certain exceptions. Timing differences are differences between taxable profits and
total comprehensive income as stated in the financial statements that arise from the inclusion of
income and expense in tax assessments in periods different from those in which they are recognised
in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to
the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or
other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively
enacted by the balance sheet date that are expected to apply to the reversal of timing differences.
Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured
using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease
term and the expected useful life of the asset. Minimum lease payments are apportioned between the
finance charge and the reduction of the outstanding lease liability using the effective interest method.
The related obligations, net of future finance charges, are included in creditors.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2017 - 15 ) .

Riley Engineering Limited (Registered number: 04404670)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2017 317,173 318,377 635,550
Additions 3,830 30,244 34,074
Disposals - (29,396 ) (29,396 )
At 31st March 2018 321,003 319,225 640,228
DEPRECIATION
At 1st April 2017 41,916 205,106 247,022
Charge for year 5,652 28,327 33,979
Eliminated on disposal - (29,396 ) (29,396 )
At 31st March 2018 47,568 204,037 251,605
NET BOOK VALUE
At 31st March 2018 273,435 115,188 388,623
At 31st March 2017 275,257 113,271 388,528

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 89,236 147,183
Amounts recoverable on contract 48,989 6,231
Other debtors 2,558 2,102
140,783 155,516

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 23,630 26,580
Hire purchase contracts 9,862 5,315
Trade creditors 40,404 47,145
Taxation and social security 36,635 50,079
Other creditors 26,681 28,297
137,212 157,416

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2018 2017
£    £   
Bank loans 9,563 31,039
Hire purchase contracts 15,161 11,798
24,724 42,837

Riley Engineering Limited (Registered number: 04404670)

Notes to the Financial Statements - continued
for the year ended 31st March 2018

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 33,193 57,619
Hire purchase contracts 25,023 17,113
58,216 74,732

Bank loans and overdrafts secured over company property and other assets.