Registered number
06290826
RJ & RA Buckley Limited
Filleted Accounts
31 January 2023
RJ & RA Buckley Limited
Registered number: 06290826
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 11,437 13,687
Tangible assets 4 1,558 1,833
12,995 15,520
Current assets
Stocks 61,440 42,997
Debtors 5 966 952
Cash at bank and in hand 36,357 47,851
98,763 91,800
Creditors: amounts falling due within one year 6 (115,930) (110,649)
Net current liabilities (17,167) (18,849)
Net liabilities (4,172) (3,329)
Capital and reserves
Called up share capital 100 100
Profit and loss account (4,272) (3,429)
Shareholders' funds (4,172) (3,329)
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.
R A Buckley
Director
Approved by the board on 6 June 2023
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2022 45,000
At 31 January 2023 45,000
Amortisation
At 1 February 2022 31,313
Provided during the year 2,250
At 31 January 2023 33,563
Net book value
At 31 January 2023 11,437
At 31 January 2022 13,687
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2022 7,944
At 31 January 2023 7,944
Depreciation
At 1 February 2022 6,111
Charge for the year 275
At 31 January 2023 6,386
Net book value
At 31 January 2023 1,558
At 31 January 2022 1,833
5 Debtors 2023 2022
£ £
Other debtors 966 952
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 7,483 2,836
Taxation and social security costs 4,324 5,168
Other creditors 104,123 102,645
115,930 110,649
7 Related party transactions 2023 2022
£ £
The directors are related parties to the company. At 31 January, the company owed the following loans to the related parties. The loans are repayable upon demand and are unsecured. Interest of 3% was paid to the related parties, calculated on the average annual balance.
Amount due to the related parties 102,124 100,646
8 Controlling party
The two directors are the controlling parties by virtue of their 100% ownership of the company's issued share capital.
9 Other information
RJ & RA Buckley Limited is a private company limited by shares and incorporated in England. Its registered office is:
89 Chorley Road
Swinton
Manchester
M27 4AA
RJ & RA Buckley Limited 06290826 false 2022-02-01 2023-01-31 2023-01-31 VT Final Accounts April 2022 R A Buckley No description of principal activity 06290826 2021-02-01 2022-01-31 06290826 core:WithinOneYear 2022-01-31 06290826 core:ShareCapital 2022-01-31 06290826 core:RetainedEarningsAccumulatedLosses 2022-01-31 06290826 2022-02-01 2023-01-31 06290826 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06290826 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06290826 bus:Director40 2022-02-01 2023-01-31 06290826 1 2022-02-01 2023-01-31 06290826 2 2022-02-01 2023-01-31 06290826 core:Goodwill 2022-02-01 2023-01-31 06290826 core:PlantMachinery 2022-02-01 2023-01-31 06290826 countries:England 2022-02-01 2023-01-31 06290826 bus:FRS102 2022-02-01 2023-01-31 06290826 bus:FullAccounts 2022-02-01 2023-01-31 06290826 2023-01-31 06290826 core:WithinOneYear 2023-01-31 06290826 core:ShareCapital 2023-01-31 06290826 core:RetainedEarningsAccumulatedLosses 2023-01-31 06290826 core:Goodwill 2023-01-31 06290826 core:PlantMachinery 2023-01-31 06290826 2022-01-31 06290826 core:Goodwill 2022-01-31 06290826 core:PlantMachinery 2022-01-31 iso4217:GBP xbrli:pure