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REGISTERED NUMBER: 06517058 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Ray Britland Contractors Limited

Ray Britland Contractors Limited (Registered number: 06517058)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Ray Britland Contractors Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs K Britland
G R Britland





REGISTERED OFFICE: Primrose Farm
Noahs Ark Lane
Great Warford
Mobberley
Cheshire
WA16 7AX





REGISTERED NUMBER: 06517058 (England and Wales)

Ray Britland Contractors Limited (Registered number: 06517058)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,756,540 1,545,103

CURRENT ASSETS
Stocks 98,604 14,479
Debtors 5 411,752 524,334
Cash at bank 272,080 78,926
782,436 617,739
CREDITORS
Amounts falling due within one year 6 444,851 415,615
NET CURRENT ASSETS 337,585 202,124
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,094,125

1,747,227

CREDITORS
Amounts falling due after more than one
year

7

(427,530

)

(318,466

)

PROVISIONS FOR LIABILITIES (305,338 ) (270,770 )
NET ASSETS 1,361,257 1,157,991

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,361,157 1,157,891
1,361,257 1,157,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Ray Britland Contractors Limited (Registered number: 06517058)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 November 2023 and were signed on its behalf by:




G R Britland - Director



Mrs K Britland - Director


Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Ray Britland Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument in any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non- current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 32 ) .

Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 120,000 3,129,017 3,249,017
Additions - 683,099 683,099
Disposals - (85,679 ) (85,679 )
At 31 March 2023 120,000 3,726,437 3,846,437
DEPRECIATION
At 1 April 2022 - 1,703,914 1,703,914
Charge for year - 409,135 409,135
Eliminated on disposal - (23,152 ) (23,152 )
At 31 March 2023 - 2,089,897 2,089,897
NET BOOK VALUE
At 31 March 2023 120,000 1,636,540 1,756,540
At 31 March 2022 120,000 1,425,103 1,545,103

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022 785,583
Additions 465,365
Transfer to ownership (149,520 )
At 31 March 2023 1,101,428
DEPRECIATION
At 1 April 2022 274,709
Charge for year 180,128
Transfer to ownership (79,919 )
At 31 March 2023 374,918
NET BOOK VALUE
At 31 March 2023 726,510
At 31 March 2022 510,874

Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Trade debtors 233,913 382,069
Other debtors 177,839 142,265
411,752 524,334

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans and overdrafts 9,927 5,833
Hire purchase contracts 259,172 255,233
Trade creditors 141,020 89,559
Taxation and social security 29,340 59,081
Other creditors 5,392 5,909
444,851 415,615

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 24,313 38,333
Hire purchase contracts 403,217 280,133
427,530 318,466

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 38,333

8. SECURED DEBTS

The following secured debts are included within creditors:

31/3/23 31/3/22
£    £   
Bank loans 34,240 44,166
Hire purchase contracts 662,389 535,366
696,629 579,532

The liability of £34,240 is subject to a UK Government guarantee. The facility is provided through the Bounce Back Loan Scheme (BBLS), managed by the British Business Bank on behalf of and with the financial backing of the Secretary of State for Business, Energy and Industrial Strategy.

Hire Purchase Finance is secured against the purchased asset it relates to.

Ray Britland Contractors Limited (Registered number: 06517058)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
G R Britland
Balance outstanding at start of year 63,068 78,910
Amounts advanced 69,523 146,158
Amounts repaid (51,000 ) (162,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,591 63,068

Mrs K Britland
Balance outstanding at start of year 61,411 73,253
Amounts advanced 69,558 146,158
Amounts repaid (49,000 ) (158,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,969 61,411

Interest has been charged by the company at a rate of 4% for the year ended 31st March 2023.