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Registration number: 09388624

Rorke Building Services Limited

Filleted Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2018

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Rorke Building Services Limited
(Registration number: 09388624)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Rorke Building Services Limited
(Registration number: 09388624)

Company Information

Directors

Mr S Rorke

Mr J Rorke

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Bankers

Lloyds Bank

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Rorke Building Services Limited
(Registration number: 09388624)

Balance Sheet as at 28 February 2018

Note

2018
£

2017
£

Fixed assets

 

Intangible assets

4

8,000

12,000

Tangible assets

5

14,809

2,781

 

22,809

14,781

Current assets

 

Stocks

6

500

500

Debtors

7

53,418

17,993

Cash at bank and in hand

 

2,091

50,374

 

56,009

68,867

Creditors: Amounts falling due within one year

8

(75,146)

(78,874)

Net current liabilities

 

(19,137)

(10,007)

Total assets less current liabilities

 

3,672

4,774

Provisions for liabilities

(2,552)

(220)

Net assets

 

1,120

4,554

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

1,020

4,454

Total equity

 

1,120

4,554

For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

 

Rorke Building Services Limited
(Registration number: 09388624)

Balance Sheet as at 28 February 2018

Approved and authorised by the Board on 9 November 2018 and signed on its behalf by:
 

.........................................

Mr J Rorke

Director

 

Rorke Building Services Limited
(Registration number: 09388624)

Notes to the Financial Statements for the Year Ended 28 February 2018

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

2

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.

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

Fixtures & Fittings

20% Straight Line

Plant & Machinery

20% Straight Line

Motor Vehicles

20% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

Rorke Building Services Limited
(Registration number: 09388624)

Notes to the Financial Statements for the Year Ended 28 February 2018

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Over 5 Years

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Rorke Building Services Limited
(Registration number: 09388624)

Notes to the Financial Statements for the Year Ended 28 February 2018

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2017 - 4).

 

Rorke Building Services Limited
(Registration number: 09388624)

Notes to the Financial Statements for the Year Ended 28 February 2018

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 March 2017

20,000

20,000

At 28 February 2018

20,000

20,000

Amortisation

At 1 March 2017

8,000

8,000

Amortisation charge

4,000

4,000

At 28 February 2018

12,000

12,000

Carrying amount

At 28 February 2018

8,000

8,000

At 28 February 2017

12,000

12,000

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other property, plant and equipment
 £

Total
£

Cost or valuation

At 1 March 2017

500

2,000

2,135

4,635

Additions

-

14,395

-

14,395

At 28 February 2018

500

16,395

2,135

19,030

Depreciation

At 1 March 2017

200

800

854

1,854

Charge for the year

100

1,840

427

2,367

At 28 February 2018

300

2,640

1,281

4,221

Carrying amount

At 28 February 2018

200

13,755

854

14,809

At 28 February 2017

300

1,200

1,281

2,781

 

Rorke Building Services Limited
(Registration number: 09388624)

Notes to the Financial Statements for the Year Ended 28 February 2018

6

Stocks

2018
£

2017
£

Other stocks

500

500

7

Debtors

2018
£

2017
£

Trade debtors

29,952

6,644

Other debtors

23,140

11,000

Prepayments and accrued income

326

349

Total current trade and other debtors

53,418

17,993

8

Creditors

Note

2018
£

2017
£

Due within one year

 

Loans and borrowings

9

52,132

49,812

Trade creditors

 

9,263

9,117

Taxation and social security

 

12,251

18,445

Accrued expenses

 

1,500

1,500

 

75,146

78,874

9

Loans and borrowings

2018
£

2017
£

Current loans and borrowings

Other borrowings

52,132

49,812