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Company registration number: 02274292

Ritson McKenzie Contractors Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 December 2021

 

Ritson McKenzie Contractors Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Ritson McKenzie Contractors Limited

Company Information

Directors

Mr P J Howells

Mr T M Owen

Registered office

Unit 12
Vesty Road
Bootle
Merseyside
L30 1NY

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

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.

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

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

6 September 2022

 

Ritson McKenzie Contractors Limited

(Registration number: 02274292)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

4,617

6,364

Current assets

 

Stocks

2,000

2,800

Debtors

5

91,380

169,043

Cash at bank and in hand

 

315,509

103,002

 

408,889

274,845

Creditors: Amounts falling due within one year

6

(118,467)

(105,830)

Net current assets

 

290,422

169,015

Total assets less current liabilities

 

295,039

175,379

Creditors: Amounts falling due after more than one year

6

(8,000)

(10,000)

Provisions for liabilities

(877)

(1,209)

Net assets

 

286,162

164,170

Capital and reserves

 

Called up share capital

25,000

25,000

Retained earnings

261,162

139,170

Shareholders' funds

 

286,162

164,170

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:

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.

 

Ritson McKenzie Contractors Limited

(Registration number: 02274292)
Balance Sheet as at 31 December 2021

Approved and authorised by the Board on 6 September 2022 and signed on its behalf by:
 

.........................................
Mr P J Howells
Director

 

Ritson McKenzie Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

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 12
Vesty Road
Bootle
Merseyside
L30 1NY

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 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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2020 - 10).

 

Ritson McKenzie Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

13,316

20,100

37,381

70,797

Disposals

(7,658)

(20,100)

(1,750)

(29,508)

At 31 December 2021

5,658

-

35,631

41,289

Depreciation

At 1 January 2021

13,224

19,984

31,225

64,433

Charge for the year

18

-

1,520

1,538

Eliminated on disposal

(7,639)

(19,984)

(1,676)

(29,299)

At 31 December 2021

5,603

-

31,069

36,672

Carrying amount

At 31 December 2021

55

-

4,562

4,617

At 31 December 2020

92

116

6,156

6,364

5

Debtors

Current

2021
£

2020
£

Trade debtors

65,763

111,381

Prepayments

367

450

Other debtors

25,250

57,212

 

91,380

169,043

 

Ritson McKenzie Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Bank loans and overdrafts

2,000

-

Trade creditors

 

67,048

64,959

Taxation and social security

 

44,521

34,303

Accruals and deferred income

 

4,898

6,568

 

118,467

105,830

Creditors: amounts falling due after more than one year

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8,000

10,000

2021
£

2020
£

Due after more than five years

After more than five years by instalments

1,833

1,833

-

-