Registered number
11903282
Developments by R&N Ltd
Filleted Accounts
31 March 2023
Developments by R&N Ltd
Registered number: 11903282
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Stocks - 97,422
Debtors 4 67,436 455
Cash at bank and in hand 50,272 665
117,708 98,542
Creditors: amounts falling due within one year 5 (72,749) (63,604)
Net current assets 44,959 34,938
Total assets less current liabilities 44,959 34,938
Creditors: amounts falling due after more than one year 6 (26,667) (36,667)
Net assets/(liabilities) 18,292 (1,729)
Capital and reserves
Called up share capital 100 100
Profit and loss account 18,192 (1,829)
Shareholders' funds 18,292 (1,729)
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.
Wioletta Musial
Director
Approved by the board on 14 July 2023
Developments by R&N Ltd
Notes to the Accounts
for the year ended 31 March 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.
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 Tangible fixed assets
Motor vehicles
£
Cost
Additions 7,500
Disposals (7,500)
At 31 March 2023 -
Depreciation
At 31 March 2023 -
Net book value
At 31 March 2023 -
4 Debtors 2023 2022
£ £
Trade debtors - 125
Other debtors 67,436 330
67,436 455
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 265 458
Taxation and social security costs 5,263 118
Other creditors 57,221 53,028
72,749 63,604
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 26,667 36,667
7 Loans from directors
Description and conditions B/fwd Received Repaid C/fwd
£ £ £ £
Wioletta Musial
Directors Loan Account 26,427 2,185 - 28,612
Liness Makwanya-Mhosva
Directors Loan Account 25,964 2,000 - 27,964
52,391 4,185 - 56,576
8 Controlling party
The company is controlled by the directors by virtue of their equal shareholding.
9 Other information
Developments by R&N Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Granary Wharf Business Park
Wetmore Road
Burton upon Trent
Staffordshire
DE14 1DU
Developments by R&N Ltd 11903282 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Wioletta Musial No description of principal activity 11903282 2021-04-01 2022-03-31 11903282 core:WithinOneYear 2022-03-31 11903282 core:AfterOneYear 2022-03-31 11903282 core:ShareCapital 2022-03-31 11903282 core:RetainedEarningsAccumulatedLosses 2022-03-31 11903282 2022-04-01 2023-03-31 11903282 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11903282 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11903282 bus:Director40 2022-04-01 2023-03-31 11903282 1 2022-04-01 2023-03-31 11903282 2 2022-04-01 2023-03-31 11903282 core:Vehicles 2022-04-01 2023-03-31 11903282 bus:Director1 2022-04-01 2023-03-31 11903282 bus:Director1 1 2022-04-01 2023-03-31 11903282 bus:Director2 2022-04-01 2023-03-31 11903282 bus:Director2 1 2022-04-01 2023-03-31 11903282 countries:England 2022-04-01 2023-03-31 11903282 bus:FRS102 2022-04-01 2023-03-31 11903282 bus:FullAccounts 2022-04-01 2023-03-31 11903282 2023-03-31 11903282 core:WithinOneYear 2023-03-31 11903282 core:AfterOneYear 2023-03-31 11903282 core:ShareCapital 2023-03-31 11903282 core:RetainedEarningsAccumulatedLosses 2023-03-31 11903282 core:Vehicles 2023-03-31 11903282 bus:Director1 1 2023-03-31 11903282 bus:Director2 1 2023-03-31 11903282 2022-03-31 11903282 bus:Director1 1 2022-03-31 11903282 bus:Director2 1 2022-03-31 iso4217:GBP xbrli:pure