Company registration number:
Ritson McKenzie Contractors Limited
for the Year Ended 31 December 2021
Ritson McKenzie Contractors Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ritson McKenzie Contractors Limited
Company Information
Directors |
Mr P J Howells Mr T M Owen |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ritson McKenzie Contractors Limited
for the Year Ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ritson McKenzie Contractors Limited for the year ended 31 December 2021 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Ritson McKenzie Contractors Limited, as a body, in accordance with the terms of our engagement letter dated 12 March 2020. Our work has been undertaken solely to prepare for your approval the accounts of Ritson McKenzie Contractors Limited and state those matters that we have agreed to state to the Board of Directors of Ritson McKenzie Contractors Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ritson McKenzie Contractors Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ritson McKenzie Contractors Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Ritson McKenzie Contractors Limited. You consider that Ritson McKenzie Contractors Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Ritson McKenzie Contractors Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
St. Helens
Merseyside
WA9 1UA
Ritson McKenzie Contractors Limited
(Registration number: 02274292)
Balance Sheet as at 31 December 2021
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2021 |
2020 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Ritson McKenzie Contractors Limited
(Registration number: 02274292)
Balance Sheet as at 31 December 2021
Approved and authorised by the
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Ritson McKenzie Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents revenue earned under contracts to provide goods and services. Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for the performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients including retentions and excluding value added tax. For incomplete contracts, an assessment is made of the extent to which revenue has been earned. The assessment takes into account the nature of the assignment, the stage of completion and the relevant contract terms. Un-billed revenue is included in debtors, under "amounts recoverable on contracts"
Government grants
Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.
Ritson McKenzie Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Tax
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.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
20% reducing balance |
Fixtures, Fittings & Equipment |
25% reducing balance |
Motor Vehicles |
25% reducing balance |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Ritson McKenzie Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 January 2021 |
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Disposals |
( |
( |
( |
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At 31 December 2021 |
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- |
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Depreciation |
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At 1 January 2021 |
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Charge for the year |
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- |
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Eliminated on disposal |
( |
( |
( |
( |
At 31 December 2021 |
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- |
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Carrying amount |
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At 31 December 2021 |
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- |
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At 31 December 2020 |
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Debtors |
Current |
2021 |
2020 |
Trade debtors |
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Prepayments |
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Other debtors |
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Ritson McKenzie Contractors Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021
Creditors |
Creditors: amounts falling due within one year
Note |
2021 |
2020 |
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Due within one year |
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Bank loans and overdrafts |
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- |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2021 |
2020 |
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Due after one year |
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Loans and borrowings |
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2021 |
2020 |
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Due after more than five years |
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After more than five years by instalments |
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