Registered number
09901777
RWB Building Solutions Ltd
Unaudited Filleted Accounts
31 December 2021
RWB Building Solutions Ltd
Registered number: 09901777
Balance Sheet
as at 31 December 2021
Notes 2021 2020
£ £
Fixed assets
Tangible assets 4 8,963 13,702
Current assets
Stocks 10,000 2,420
Debtors 5 118,508 111,379
Cash at bank and in hand 16,491 3,729
144,999 117,528
Creditors: amounts falling due within one year 6 (98,831) (74,723)
Net current assets 46,168 42,805
Total assets less current liabilities 55,131 56,507
Creditors: amounts falling due after more than one year 7 (37,175) (44,125)
Provisions for liabilities (1,703) (2,603)
Net assets 16,253 9,779
Capital and reserves
Called up share capital 60 60
Profit and loss account 16,193 9,719
Shareholders' funds 16,253 9,779
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L L Barletta
Director
Approved by the board on 01/09/2022.
RWB Building Solutions Ltd
Notes to the Accounts
for the year ended 31 December 2021
1 Statutory information
RWB Building Solutions Ltd is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 09901777
Registered office: The Grange
Upsall Road
South Kilvington
YO7 2NF
The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.
2 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipment 33% straight line
Plant and machinery 33% straight line
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Accounting policies (continued)
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
3 Employees 2021 2020
Number Number
Average number of persons employed by the company 7 8
4 Tangible fixed assets
Computer equipment Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 January 2021 2,306 10,618 20,413 33,337
Additions 225 445 - 670
At 31 December 2021 2,531 11,063 20,413 34,007
Depreciation
At 1 January 2021 1,706 5,681 12,248 19,635
Charge for the year 368 3,000 2,041 5,409
At 31 December 2021 2,074 8,681 14,289 25,044
Net book value
At 31 December 2021 457 2,382 6,124 8,963
At 31 December 2020 600 4,937 8,165 13,702
5 Debtors 2021 2020
£ £
Trade debtors 109,289 84,639
Prepayments and accrued income 7,267 4,932
Directors' current account - 20,911
VAT debtor 1,024 -
Other debtors 928 897
118,508 111,379
6 Creditors: amounts falling due within one year 2021 2020
£ £
Bank loans and overdrafts 9,636 5,875
Trade creditors 46,731 36,084
Amounts owed to group undertakings 1,014 5,014
Directors' current accounts 21,850 -
Taxation and social security costs 17,629 26,640
Other creditors 1,971 1,110
98,831 74,723
7 Creditors: amounts falling due after one year 2021 2020
£ £
Bank loans 37,175 44,125
8 Loans 2021 2020
£ £
Creditors include:
Instalments falling due for payment after more than five years - 3,886
9 Related party transactions
During the year £121,701 (2020: £121,528) was advanced to and £78,940 (2020: £124,139) was repaid to the directors. An amount of £21,850 (2020: £20,911 due from) remained due to the directors at the year end.
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