Company Registration No. 08121734 (England and Wales)
ROADMARKING EXCEL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018
PAGES FOR FILING WITH REGISTRAR
ROADMARKING EXCEL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ROADMARKING EXCEL LIMITED
BALANCE SHEET
AS AT 31 JULY 2018
31 July 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
3
216,196
215,583
Current assets
Stocks
7,737
8,350
Debtors
4
258,195
268,142
Cash at bank and in hand
313,177
168,963
579,109
445,455
Creditors: amounts falling due within one year
5
(233,225)
(224,551)
Net current assets
345,884
220,904
Total assets less current liabilities
562,080
436,487
Creditors: amounts falling due after more than one year
6
(43,071)
(42,220)
Provisions for liabilities
(38,596)
(38,024)
Net assets
480,413
356,243
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
480,412
356,242
Total equity
480,413
356,243
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
ROADMARKING EXCEL LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2018
31 July 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 November 2018 and are signed on its behalf by:
Mr G E Long
Mr B Louden
Director
Director
Company Registration No. 08121734
ROADMARKING EXCEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2018
- 3 -
1
Accounting policies
Company information
Roadmarking Excel Limited is a private company limited by shares incorporated in England and Wales. The registered office and principal place of business is 66 Bredhurst Road, Wigmore, Gillingham, Kent, ME8 0PE.
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.
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 revenue earned for goods and services provided to clients. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under contracts. It is measured at the fair value of the right to consideration which represents amounts chargeable to clients, including recoverable expenses and disbursements, but excluding VAT. For incomplete contracts, an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the assignment, its stage of completion and the relevant contract terms. Unbilled revenue is included in debtors, under "other debtors".
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Land and buildings Leasehold
10% straight line
Plant and machinery
20% reducing balance
Motor vehicles
25% reducing balance
1.4
Stocks
Stock is valued at the lower of cost and net realisable value. At each reporting date, an assessment is made for impairment.
1.5
Financial instruments
The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.
Basic financial liabilities
Basic financial liabilities, including creditors, are recognised at transaction price.
ROADMARKING EXCEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2018
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable or receivable and deferred tax.
Current tax
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
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Leasing and hire purchase commitments
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet and are depreciated over the shorter of the lease term and the asset's useful lives. A corresponding liability is recognised for the lower of the fair value of the leased asset and the present value of the minimum lease payments in the balance sheet. Lease payments are apportioned between the reduction of the lease liability and finance charges so as to achieve a constant rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 10 (2017 - 10).
ROADMARKING EXCEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2018
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2017
8,000
320,380
328,380
Additions
-
56,283
56,283
Disposals
-
(8,400)
(8,400)
At 31 July 2018
8,000
368,263
376,263
Depreciation and impairment
At 1 August 2017
800
111,997
112,797
Depreciation charged in the year
800
52,953
53,753
Eliminated in respect of disposals
-
(6,483)
(6,483)
At 31 July 2018
1,600
158,467
160,067
Carrying amount
At 31 July 2018
6,400
209,796
216,196
At 31 July 2017
7,200
208,383
215,583
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
237,136
254,512
Other debtors
21,059
13,630
258,195
268,142
5
Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
38,690
55,767
Taxation and social security
125,735
88,639
Other creditors
68,800
80,145
233,225
224,551
Included within other creditors is £39,819 (2017: £25,893) due under hire purchase contracts, which are secured on the associated fixed assets.
ROADMARKING EXCEL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2018
- 6 -
6
Creditors: amounts falling due after more than one year
2018
2017
£
£
Other creditors
43,071
42,220
These amounts are due under hire purchase contracts and are secured on the associated fixed assets.
7
Directors' transactions
During the year the company made advances totalling £48,843 (2017 - £24,117) and £33,722 (2017 - £10,624) to the directors, Mr G E and Mrs S Long (Jointly) and Mr B Louden respectively. These advances were repayable on demand and attract interest at HMRC approved rates. Repayments totalling £48,843 (2017 - £24,117) and £33,722 (2017 - £10.624), respectively, were made in respect of these advances and brought forward balances, where appropriate.