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Registration number: 05815756

Room Design and Build Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2022

 

Room Design and Build Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Room Design and Build Limited

Company Information

Director

Mr Matthew Philip Morten

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Room Design and Build Limited

(Registration number: 05815756)
Balance Sheet as at 31 May 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

4,019

9,138

Current assets

 

Stocks

5

2,000

19,309

Debtors

6

12,937

21,130

Cash at bank and in hand

 

45,920

9,389

 

60,857

49,828

Creditors: Amounts falling due within one year

7

(50,362)

(44,054)

Net current assets

 

10,495

5,774

Net assets

 

14,514

14,912

Capital and reserves

 

Called up share capital

100

100

Retained earnings

14,414

14,812

Shareholders' funds

 

14,514

14,912

For the financial year ending 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 16 October 2023
 

.........................................
Mr Matthew Philip Morten
Director

 

Room Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 16 October 2023.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tax

The tax expense for the period comprises current 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.

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.

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.

 

Room Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

2

Accounting policies (continued)

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:

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.

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.

 

Room Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 3).

 

Room Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2021

8,367

17,750

26,117

Disposals

(6,691)

-

(6,691)

At 31 May 2022

1,676

17,750

19,426

Depreciation

At 1 June 2021

3,882

13,097

16,979

Charge for the year

139

931

1,070

Eliminated on disposal

(2,642)

-

(2,642)

At 31 May 2022

1,379

14,028

15,407

Carrying amount

At 31 May 2022

297

3,722

4,019

At 31 May 2021

4,485

4,653

9,138

5

Stocks

2022
£

2021
£

Work in progress

-

17,309

Other inventories

2,000

2,000

2,000

19,309

6

Debtors

Current

2022
£

2021
£

Trade debtors

4,836

-

Prepayments

-

1,000

Other debtors

8,101

20,130

 

12,937

21,130

7

Creditors

Creditors: amounts falling due within one year

 

Room Design and Build Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2022 (continued)

7

Creditors (continued)

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

8,000

8,000

Trade creditors

 

(524)

-

Taxation and social security

 

38,524

31,447

Accruals and deferred income

 

1,933

4,401

Other creditors

 

2,429

206

 

50,362

44,054

8

Loans and borrowings

2022
£

2021
£

Current loans and borrowings

Other borrowings

8,000

8,000