20
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
33,956
15,611
6,791
22,402
11,554
18,345
xbrli:pure
xbrli:shares
iso4217:GBP
05848343
2022-04-01
2023-03-31
05848343
2023-03-31
05848343
2022-03-31
05848343
2021-04-01
2022-03-31
05848343
2022-03-31
05848343
2021-03-31
05848343
core:FurnitureFittings
2022-04-01
2023-03-31
05848343
core:MotorVehicles
2022-04-01
2023-03-31
05848343
bus:OrdinaryShareClass1
2022-04-01
2023-03-31
05848343
bus:OrdinaryShareClass2
2022-04-01
2023-03-31
05848343
bus:OrdinaryShareClass3
2022-04-01
2023-03-31
05848343
bus:OrdinaryShareClass4
2022-04-01
2023-03-31
05848343
bus:Director1
2022-04-01
2023-03-31
05848343
core:WithinOneYear
2023-03-31
05848343
core:WithinOneYear
2022-03-31
05848343
core:FurnitureFittings
2022-03-31
05848343
core:MotorVehicles
2022-03-31
05848343
core:FurnitureFittings
2023-03-31
05848343
core:MotorVehicles
2023-03-31
05848343
core:AfterOneYear
2023-03-31
05848343
core:AfterOneYear
2022-03-31
05848343
core:ShareCapital
2023-03-31
05848343
core:ShareCapital
2022-03-31
05848343
core:RetainedEarningsAccumulatedLosses
2023-03-31
05848343
core:RetainedEarningsAccumulatedLosses
2022-03-31
05848343
core:FurnitureFittings
2022-03-31
05848343
core:MotorVehicles
2022-03-31
05848343
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2023-03-31
05848343
core:LeasedAssetsHeldAsLessee
2023-03-31
05848343
core:LeasedAssetsHeldAsLessee
core:MotorVehicles
2022-03-31
05848343
core:LeasedAssetsHeldAsLessee
2022-03-31
05848343
bus:SmallEntities
2022-04-01
2023-03-31
05848343
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
05848343
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
05848343
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
05848343
bus:FullAccounts
2022-04-01
2023-03-31
05848343
bus:OrdinaryShareClass1
2023-03-31
05848343
bus:OrdinaryShareClass1
2022-03-31
05848343
bus:OrdinaryShareClass2
2023-03-31
05848343
bus:OrdinaryShareClass2
2022-03-31
05848343
bus:OrdinaryShareClass3
2023-03-31
05848343
bus:OrdinaryShareClass3
2022-03-31
05848343
bus:OrdinaryShareClass4
2023-03-31
05848343
bus:OrdinaryShareClass4
2022-03-31
05848343
bus:AllOrdinaryShares
2023-03-31
05848343
bus:AllOrdinaryShares
2022-03-31
05848343
core:ComputerSoftware
2022-04-01
2023-03-31
05848343
core:LeaseholdImprovements
2022-04-01
2023-03-31
05848343
core:ComputerSoftware
2023-03-31
05848343
core:ComputerSoftware
2022-03-31
05848343
core:PlantMachinery
2022-03-31
05848343
core:PlantMachinery
2022-04-01
2023-03-31
05848343
core:PlantMachinery
2023-03-31
05848343
core:LeaseholdImprovements
2023-03-31
05848343
core:LeaseholdImprovements
2022-03-31
05848343
core:PlantMachinery
core:LeasedAssetsHeldAsLessee
2023-03-31
05848343
core:PlantMachinery
core:LeasedAssetsHeldAsLessee
2022-03-31
05848343
core:AllAssociates
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
05848343
Reynolds Groundwork Services Limited |
|
Filleted Unaudited Financial Statements |
|
Reynolds Groundwork Services Limited |
|
Year ended 31 March 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Reynolds Groundwork Services Limited |
|
Statement of Financial Position |
|
31 March 2023
Fixed assets
Intangible assets |
5 |
|
11,554 |
|
18,345 |
Tangible assets |
6 |
|
1,113,748 |
|
886,877 |
|
|
------------ |
|
---------- |
|
|
1,125,302 |
|
905,222 |
|
|
|
|
|
|
Current assets
Stocks |
49,428 |
|
81,848 |
|
Debtors |
7 |
3,160,921 |
|
3,024,656 |
|
Cash at bank and in hand |
1,169,440 |
|
73,945 |
|
|
------------ |
|
------------ |
|
|
4,379,789 |
|
3,180,449 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
3,085,581 |
|
2,298,501 |
|
|
------------ |
|
------------ |
|
Net current assets |
|
1,294,208 |
|
881,948 |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
2,419,510 |
|
1,787,170 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
445,404 |
|
431,782 |
|
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
269,445 |
|
160,171 |
|
|
------------ |
|
------------ |
Net assets |
|
1,704,661 |
|
1,195,217 |
|
|
------------ |
|
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
10 |
|
8 |
|
8 |
Profit and loss account |
|
1,704,653 |
|
1,195,209 |
|
|
------------ |
|
------------ |
Shareholders funds |
|
1,704,661 |
|
1,195,217 |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Reynolds Groundwork Services Limited |
|
Statement of Financial Position (continued) |
|
31 March 2023
For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
23 October 2023
, and are signed on behalf of the board by:
Company registration number:
05848343
Reynolds Groundwork Services Limited |
|
Notes to the Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the date of the statement of financial position. This is normally measured by the proportion contract costs incurred for work performed to date bear to the estimated contract costs, except where this would not be representative of the stage of completion. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable. Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When it is probable that total contract costs will exceed total contract value, the expected loss is recognised as an expense immediately.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Computer software |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures, fittings and furniture |
- |
20% straight line |
|
Motor vehicles |
- |
25% reducing balance |
|
Equipment |
- |
20% - 25% reducing balance and straight line |
|
Improvement to leasehold property |
- |
5% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted
at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
20
(2022:
22
).
5.
Intangible assets
|
Computer software |
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
33,956 |
|
-------- |
Amortisation |
|
At 1 April 2022 |
15,611 |
Charge for the year |
6,791 |
|
-------- |
At 31 March 2023 |
22,402 |
|
-------- |
Carrying amount |
|
At 31 March 2023 |
11,554 |
|
-------- |
At 31 March 2022 |
18,345 |
|
-------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Motor vehicles |
Equipment |
Improvement to leasehold property |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 April 2022 |
14,591 |
634,639 |
1,055,396 |
6,920
|
1,711,546 |
Additions |
4,334 |
429,450 |
144,588 |
– |
578,372 |
Disposals |
– |
(
156,500) |
(
20,836) |
– |
(
177,336) |
|
-------- |
---------- |
------------ |
------- |
------------ |
At 31 March 2023 |
18,925 |
907,589 |
1,179,148 |
6,920 |
2,112,582 |
|
-------- |
---------- |
------------ |
------- |
------------ |
Depreciation |
|
|
|
|
|
At 1 April 2022 |
12,613 |
296,996 |
513,736 |
1,324 |
824,669 |
Charge for the year |
2,051 |
156,057 |
159,909 |
346 |
318,363 |
Disposals |
– |
(
124,778) |
(
19,420) |
– |
(
144,198) |
|
-------- |
---------- |
------------ |
------- |
------------ |
At 31 March 2023 |
14,664 |
328,275 |
654,225 |
1,670 |
998,834 |
|
-------- |
---------- |
------------ |
------- |
------------ |
Carrying amount |
|
|
|
|
|
At 31 March 2023 |
4,261 |
579,314 |
524,923 |
5,250 |
1,113,748 |
|
-------- |
---------- |
------------ |
------- |
------------ |
At 31 March 2022 |
1,978 |
337,643 |
541,660 |
5,596 |
886,877 |
|
-------- |
---------- |
------------ |
------- |
------------ |
|
|
|
|
|
|
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
|
Motor vehicles |
Equipment |
Total |
|
£ |
£ |
£ |
At 31 March 2023 |
459,960 |
347,816 |
807,776 |
|
---------- |
---------- |
---------- |
At 31 March 2022 |
263,180 |
417,283 |
680,463 |
|
---------- |
---------- |
---------- |
|
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
2,463,330 |
2,772,789 |
Prepayments and accrued income |
68,007 |
64,139 |
Other debtors |
629,584 |
187,728 |
|
------------ |
------------ |
|
3,160,921 |
3,024,656 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
643,719 |
322,195 |
Trade creditors |
1,921,125 |
1,428,503 |
Accruals and deferred income |
6,346 |
6,409 |
Corporation tax |
125,574 |
86,900 |
Social security and other taxes |
53,617 |
38,837 |
Obligations under finance leases and hire purchase contracts |
272,832 |
285,879 |
Director loan accounts |
518 |
581 |
Pension Liability |
6,604 |
359 |
Other creditors |
55,246 |
128,838 |
|
------------ |
------------ |
|
3,085,581 |
2,298,501 |
|
------------ |
------------ |
|
|
|
Bank loans and overdrafts are secured by fixed and floating charges over the company and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.
Within bank loans and overdrafts are Coronavirus Business Interruption Loans which are partly secured by a government guarantee.
Obligations under finance leases and hire purchase contracts are secured by the assets purchased under these contracts.
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
133,460 |
246,492 |
Obligations under finance leases and hire purchase contracts |
311,944 |
185,290 |
|
---------- |
---------- |
|
445,404 |
431,782 |
|
---------- |
---------- |
|
|
|
Bank loans and overdrafts are secured by fixed and floating charges over the company and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures, fixed plant and machinery.
Within bank loans and overdrafts are Coronavirus Business Interruption Loans which are partly secured by a government guarantee.
Obligations under finance leases and hire purchase contracts are secured by the assets purchased under these contracts.
10.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary 'A' shares of £ 1 each |
4 |
4 |
4 |
4 |
Ordinary 'B' shares of £ 1 each |
2 |
2 |
2 |
2 |
Ordinary 'C' shares of £ 1 each |
1 |
1 |
1 |
1 |
Ordinary 'D' shares of £ 1 each |
1 |
1 |
1 |
1 |
|
---- |
---- |
---- |
---- |
|
8 |
8 |
8 |
8 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
The 'B', 'C' and 'D' ordinary shares have no voting rights or any right to a capital distribution on the winding up of the company.
11.
Related party transactions
Transactions with related parties, such as are required to be disclosed under FRS 102 were as follows: | | 2023 | 2022 |
| | £ | £ |
| Other related parties: | | |
| Balances owed by/(owed to): | 291,206 | (128,838) |
| | ---------- | ---------- |
| | | |
The amounts owed to related parties are in respect of short-term interest free loans.