Registered number
08861386
RLD Carpentry Limited
Filleted Accounts
31 January 2023
RLD Carpentry Limited
Registered number: 08861386
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 864 1,604
Tangible assets 4 13,722 17,531
14,586 19,135
Current assets
Stocks 86,255 70,400
Debtors 5 31,010 126,240
Cash at bank and in hand 3,357 4,859
120,622 201,499
Creditors: amounts falling due within one year 6 (126,308) (183,533)
Net current (liabilities)/assets (5,686) 17,966
Total assets less current liabilities 8,900 37,101
Provisions for liabilities - (3,155)
Net assets 8,900 33,946
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,800 33,846
Shareholders' funds 8,900 33,946
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 S A Goddard
Director
Approved by the board on 31 October 2023
RLD Carpentry Limited
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 20% reducing balance
Computer equipment over 3 years
Motor vehicles 25% reducing balance
Fixtures & fittings 10% 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.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 7,400
At 31 January 2023 7,400
Amortisation
At 1 February 2022 5,796
Provided during the year 740
At 31 January 2023 6,536
Net book value
At 31 January 2023 864
At 31 January 2022 1,604
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery Computer & office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 February 2022 10,110 5,220 14,093 29,423
At 31 January 2023 10,110 5,220 14,093 29,423
Depreciation
At 1 February 2022 6,268 2,101 3,523 11,892
Charge for the year 768 399 2,642 3,809
At 31 January 2023 7,036 2,500 6,165 15,701
Net book value
At 31 January 2023 3,074 2,720 7,928 13,722
At 31 January 2022 3,842 3,119 10,570 17,531
5 Debtors 2023 2022
£ £
Trade debtors 12,660 22,490
Other debtors 18,350 103,750
31,010 126,240
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 17,671 23,426
Taxation and social security costs 23,519 19,639
Other creditors 85,118 140,468
126,308 183,533
7 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 5,200 5,200
8 Other information
RLD Carpentry Limited is a private company limited by shares and incorporated in England. Its registered office is:
5B Sunrise Business Park
Higher Shaftesbury Road
Blandford Forum
Dorset
DT11 8ST
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