R B Asbestos Consultants Ltd 07981135 false 2021-04-01 2022-03-31 2022-03-31 The principal activity of the company is Specialist Asbestos Services Digita Accounts Production Advanced 6.30.9574.0 true 07981135 2021-04-01 2022-03-31 07981135 2022-03-31 07981135 core:CurrentFinancialInstruments 2022-03-31 07981135 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 07981135 core:Goodwill 2022-03-31 07981135 core:FurnitureFittingsToolsEquipment 2022-03-31 07981135 bus:SmallEntities 2021-04-01 2022-03-31 07981135 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 07981135 bus:FullAccounts 2021-04-01 2022-03-31 07981135 bus:SmallCompaniesRegimeForAccounts 2021-04-01 2022-03-31 07981135 bus:RegisteredOffice 2021-04-01 2022-03-31 07981135 bus:Director1 2021-04-01 2022-03-31 07981135 bus:Director2 2021-04-01 2022-03-31 07981135 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 07981135 core:Goodwill 2021-04-01 2022-03-31 07981135 core:FurnitureFittings 2021-04-01 2022-03-31 07981135 core:FurnitureFittingsToolsEquipment 2021-04-01 2022-03-31 07981135 core:MotorVehicles 2021-04-01 2022-03-31 07981135 core:OfficeEquipment 2021-04-01 2022-03-31 07981135 countries:EnglandWales 2021-04-01 2022-03-31 07981135 2021-03-31 07981135 core:Goodwill 2021-03-31 07981135 core:FurnitureFittingsToolsEquipment 2021-03-31 07981135 2020-04-01 2021-03-31 07981135 2021-03-31 07981135 core:CurrentFinancialInstruments 2021-03-31 07981135 core:CurrentFinancialInstruments core:WithinOneYear 2021-03-31 07981135 core:Goodwill 2021-03-31 07981135 core:FurnitureFittingsToolsEquipment 2021-03-31 iso4217:GBP xbrli:pure

Registration number: 07981135

R B Asbestos Consultants Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

R B Asbestos Consultants Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

R B Asbestos Consultants Ltd

(Registration number: 07981135)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Intangible assets

4

-

11,000

Tangible assets

5

379

2,689

 

379

13,689

Current assets

 

Stocks

6

7,925

13,875

Debtors

7

91,229

83,049

Cash at bank and in hand

 

174,949

183,394

 

274,103

280,318

Creditors: Amounts falling due within one year

8

(75,447)

(89,365)

Net current assets

 

198,656

190,953

Total assets less current liabilities

 

199,035

204,642

Provisions for liabilities

-

(2,040)

Net assets

 

199,035

202,602

Capital and reserves

 

Called up share capital

100

100

Retained earnings

198,935

202,502

Shareholders' funds

 

199,035

202,602

 

R B Asbestos Consultants Ltd

(Registration number: 07981135)
Balance Sheet as at 31 March 2022

For the financial year ending 31 March 2022 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.

Approved and authorised by the Board on 10 August 2022 and signed on its behalf by:
 

.........................................
Mrs S A Byrne
Director

.........................................
Mr G J M Byrne
Director

 

R B Asbestos Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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:
Unit 2
Empire Business Centre
Empire Way
Burnley
Lancashire
BB12 6HA
England

These financial statements were authorised for issue by the Board on 10 August 2022.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit or loss account over the useful lives of the related assets, where as those in relation to expenditure are credited when the expenditure is charged to the profit and loss.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

R B Asbestos Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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 and fittings

25% reducing balance basis

Motor vehicles

25% reducing balance basis

Office equipment

33% straight line basis

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.

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

Straight line over 10 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.

 

R B Asbestos Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2021 - 8).

 

R B Asbestos Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2021

110,000

110,000

At 31 March 2022

110,000

110,000

Amortisation

At 1 April 2021

99,000

99,000

Amortisation charge

11,000

11,000

At 31 March 2022

110,000

110,000

Carrying amount

At 31 March 2022

-

-

At 31 March 2021

11,000

11,000

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2021

27,963

27,963

At 31 March 2022

27,963

27,963

Depreciation

At 1 April 2021

25,274

25,274

Charge for the year

2,310

2,310

At 31 March 2022

27,584

27,584

Carrying amount

At 31 March 2022

379

379

At 31 March 2021

2,689

2,689

6

Stocks

2022
£

2021
£

Work in progress

7,925

13,875

 

R B Asbestos Consultants Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

7

Debtors

Current

2022
£

2021
£

Trade debtors

82,329

82,248

Prepayments

914

789

Other debtors

7,986

12

 

91,229

83,049

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

2,874

4,018

Taxation and social security

62,914

71,160

Accruals and deferred income

895

890

Other creditors

8,764

13,297

75,447

89,365