Company Registration No. 05712007 (England and Wales)
Richard Hall Limited
Unaudited accounts
for the year ended 28 February 2023
Richard Hall Limited
Unaudited accounts
Contents
Richard Hall Limited
Company Information
for the year ended 28 February 2023
Company Number
05712007 (England and Wales)
Registered Office
73a High Street
Egham
Surrey
TW20 9HE
Accountants
Howard and Company
73a High Street
Egham
Surrey
TW20 9HE
Richard Hall Limited
Statement of financial position
as at 28 February 2023
Tangible assets
2,181,390
2,253,483
Cash at bank and in hand
201,233
190,024
Creditors: amounts falling due within one year
(951,843)
(850,171)
Net current liabilities
(78,545)
(38,226)
Total assets less current liabilities
2,102,845
2,215,257
Creditors: amounts falling due after more than one year
(818,682)
(1,036,886)
Provisions for liabilities
Deferred tax
(425,027)
(416,259)
Net assets
859,136
762,112
Called up share capital
100
100
Profit and loss account
859,036
762,012
Shareholders' funds
859,136
762,112
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2023 and were signed on its behalf by
R B Hall
Director
Company Registration No. 05712007
Richard Hall Limited
Notes to the Accounts
for the year ended 28 February 2023
Richard Hall Limited is a private company, limited by shares, registered in England and Wales, registration number 05712007. The registered office is 73a High Street, Egham, Surrey, TW20 9HE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value of work done excluding VAT and trade discounts. Turnover is recognised when services are provided to the customer. Where a contract is partially completed at the balance sheet date and amounts invoiced differ from the value of work done, provision is made within creditors as deferred income, or within stock as work in progress as appropriate.
Government grants in relation to expenditure are credited to profit and loss when the expenditure is charged to profit and loss.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
20% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Richard Hall Limited
Notes to the Accounts
for the year ended 28 February 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
39,222
2,775,223
1,212,881
4,027,326
Additions
7,062
185,807
411,102
603,971
Disposals
-
(356,600)
(25,600)
(382,200)
At 28 February 2023
46,284
2,604,430
1,598,383
4,249,097
At 1 March 2022
13,587
1,227,768
532,488
1,773,843
Charge for the year
7,896
251,434
255,037
514,367
On disposals
-
(208,403)
(12,100)
(220,503)
At 28 February 2023
21,483
1,270,799
775,425
2,067,707
At 28 February 2023
24,801
1,333,631
822,958
2,181,390
At 28 February 2022
25,635
1,547,455
680,393
2,253,483
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
1,109,856
1,406,848
- Motor vehicles
769,700
635,444
Amounts falling due within one year
Trade debtors
642,773
564,674
Accrued income and prepayments
9,093
9,074
Other debtors
20,199
48,173
Richard Hall Limited
Notes to the Accounts
for the year ended 28 February 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
20,532
20,533
Obligations under finance leases and hire purchase contracts
532,151
546,974
Trade creditors
226,339
201,450
Taxes and social security
150,052
34,779
Other creditors
14,379
10,623
Loans from directors
-
30,823
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
794,624
992,379
Bank loans and overdrafts are secured by a fixed charge over the company's assets in favour of Barclays Security Trustee Limited dated 12 May 2021.
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Deferred taxation
2023
2022
Accelerated capital allowances
536,931
583,087
Tax losses carried forward
(111,904)
(166,828)
Provision at start of year
416,259
368,046
Charged to the profit and loss account
8,768
48,213
Provision at end of year
425,027
416,259
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to directors are interest free and repayable on demand.
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Average number of employees
During the year the average number of employees was 16 (2022: 15).