Silverfin false false 30/06/2023 01/07/2022 30/06/2023 M Ahluwalia 27/07/2017 A S Needham 26/07/2017 22 November 2023 During the year the company were made aware of a freehold property which was owed by R.May & Son Limited. This freehold was subsequently sold and the proceeds donated to charity. 01413928 2023-06-30 01413928 bus:Director1 2023-06-30 01413928 bus:Director2 2023-06-30 01413928 core:CurrentFinancialInstruments 2023-06-30 01413928 core:CurrentFinancialInstruments 2022-06-30 01413928 2022-06-30 01413928 core:ShareCapital 2023-06-30 01413928 core:ShareCapital 2022-06-30 01413928 2022-07-01 2023-06-30 01413928 bus:FilletedAccounts 2022-07-01 2023-06-30 01413928 bus:SmallEntities 2022-07-01 2023-06-30 01413928 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 01413928 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 01413928 bus:Director1 2022-07-01 2023-06-30 01413928 bus:Director2 2022-07-01 2023-06-30 01413928 2021-07-01 2022-06-30 iso4217:GBP xbrli:pure

Company No: 01413928 (England and Wales)

R. MAY & SON LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

R. MAY & SON LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

R. MAY & SON LIMITED

BALANCE SHEET

As at 30 June 2023
R. MAY & SON LIMITED

BALANCE SHEET (continued)

As at 30 June 2023
2023 2022
£ £
Current assets
Debtors 3 100 100
100 100
Net current assets 100 100
Total assets less current liabilities 100 100
Net assets 100 100
Capital and reserves
Called-up share capital 100 100
Total shareholder's funds 100 100

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of R. May & Son Limited (registered number: 01413928) were approved and authorised for issue by the Board of Directors on 22 November 2023. They were signed on its behalf by:

M Ahluwalia
Director
R. MAY & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
R. MAY & SON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R. May & Son Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Nexus House, Cray Road, Sidcup, DA14 5DA, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Ordinary share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Debtors

2023 2022
£ £
Amounts owed by Group undertakings 100 100