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Registered Number: 01506910
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 05 April 2023

for

V. RICHARDSON & SONS LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 26,606    29,903 
Investments 4 50,000    50,000 
76,606    79,903 
Current assets      
Stocks 5 7,000    6,309 
Debtors 6 112,517    89,388 
Cash at bank and in hand 101,692    101,640 
221,209    197,337 
Creditors: amount falling due within one year 7 (117,829)   (102,898)
Net current assets 103,380    94,439 
 
Total assets less current liabilities 179,986    174,342 
Provisions for liabilities 8 (5,035)   (5,682)
Net assets 174,951    168,660 
 

Capital and reserves
     
Called up share capital 3,000    3,000 
Profit and loss account 171,951    165,660 
Shareholder's funds 174,951    168,660 
 


For the year ended 05 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. 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.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 November 2023 and were signed on its behalf by:


-------------------------------
S J Richardson
Director
1
General Information
V. Richardson & Sons Limited is a private company, limited by shares, registered in England and Wales, registration number 01506910, registration address Oberon House , Ferries Street , Hull , East Yorkshire, HU9 1RL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Improvements to property 4 Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 5 (2022 : 5).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Improvements to property   Total
  £   £   £
At 06 April 2022 297,992    7,000    304,992 
Additions 3,220      3,220 
Disposals    
At 05 April 2023 301,212    7,000    308,212 
Depreciation
At 06 April 2022 268,090    7,000    275,090 
Charge for year 6,516      6,516 
On disposals    
At 05 April 2023 274,606    7,000    281,606 
Net book values
Closing balance as at 05 April 2023 26,606      26,606 
Opening balance as at 06 April 2022 29,903      29,903 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 06 April 2022 50,000    50,000 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 05 April 2023 50,000    50,000 

5.

Stocks

2023
£
  2022
£
Stocks 7,000    6,309 
7,000    6,309 

6.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 107,264    84,221 
Prepayments & Accrued Income 5,253    5,167 
112,517    89,388 

7.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 51,874    43,565 
Corporation Tax 11,668    7,080 
PAYE & Social Security 810    962 
Accrued Expenses 2,415    2,400 
Other Creditors 1,124    2,803 
Directors' Current Accounts 42,822    39,989 
VAT 7,116    6,099 
117,829    102,898 

8.

Provisions for liabilities

2023
£
  2022
£
Deferred Tax 5,035    5,682 
5,035    5,682 

2