B A Richins Painting & Decorating Ltd 09655982 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is painters and decorators Digita Accounts Production Advanced 6.30.9574.0 true 09655982 2022-07-01 2023-06-30 09655982 2023-06-30 09655982 core:RetainedEarningsAccumulatedLosses 2023-06-30 09655982 core:ShareCapital 2023-06-30 09655982 core:CurrentFinancialInstruments 2023-06-30 09655982 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09655982 core:MotorVehicles 2023-06-30 09655982 bus:SmallEntities 2022-07-01 2023-06-30 09655982 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 09655982 bus:FullAccounts 2022-07-01 2023-06-30 09655982 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 09655982 bus:RegisteredOffice 2022-07-01 2023-06-30 09655982 bus:Director1 2022-07-01 2023-06-30 09655982 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 09655982 core:MotorVehicles 2022-07-01 2023-06-30 09655982 core:OtherRelatedParties 2022-07-01 2023-06-30 09655982 countries:EnglandWales 2022-07-01 2023-06-30 09655982 2022-06-30 09655982 core:MotorVehicles 2022-06-30 09655982 2021-07-01 2022-06-30 09655982 2022-06-30 09655982 core:RetainedEarningsAccumulatedLosses 2022-06-30 09655982 core:ShareCapital 2022-06-30 09655982 core:CurrentFinancialInstruments 2022-06-30 09655982 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 09655982 core:MotorVehicles 2022-06-30 iso4217:GBP xbrli:pure

Registration number: 09655982

B A Richins Painting & Decorating Ltd

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 June 2023

 

B A Richins Painting & Decorating Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 5

 

B A Richins Painting & Decorating Ltd

(Registration number: 09655982)
Statement of Financial Position as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,146

1,528

Current assets

 

Debtors

5

5,622

8,719

Cash at bank and in hand

 

8,056

1,308

 

13,678

10,027

Creditors: Amounts falling due within one year

6

(11,549)

(11,153)

Net current assets/(liabilities)

 

2,129

(1,126)

Total assets less current liabilities

 

3,275

402

Provisions for liabilities

(241)

(290)

Net assets

 

3,034

112

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

2,934

12

Shareholders' funds

 

3,034

112

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the director on 6 February 2024
 

.........................................
B A Richins
Director

 

B A Richins Painting & Decorating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: 25 Waverley Lane, Farnham, Surrey, GU9 8BB.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

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 income 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.

 

B A Richins Painting & Decorating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% reducing balance

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 

B A Richins Painting & Decorating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

11,455

11,455

At 30 June 2023

11,455

11,455

Depreciation

At 1 July 2022

9,927

9,927

Charge for the year

382

382

At 30 June 2023

10,309

10,309

Carrying amount

At 30 June 2023

1,146

1,146

At 30 June 2022

1,528

1,528

5

Debtors

2023
£

2022
£

Trade debtors

5,622

3,500

Other debtors

-

5,219

5,622

8,719

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Trade creditors

2,437

2,995

Taxation and social security

5,866

4,562

Accruals and deferred income

2,877

3,596

Other creditors

369

-

11,549

11,153

 

B A Richins Painting & Decorating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

7

Related party transactions

Summary of transactions with other related parties

The majority shareholder of the company is the majority shareholder of Toric Builders Ltd and Grosvenor Merchants Ltd.

During the year the company made purchases of £4,722 (2022 : £2,479) from Toric Builders Ltd. The overall net balance owed to Toric Builders Ltd as at 30th June 2023 was £1,256 (2022: £2,099), which will be settled in the normal course of business.

During the year the company made sales of £254 (2022 : £0) to Grosvenor Merchants Ltd. The overall net balance owed to B A Richins Painting & Decorating Ltd as at 30th June 2023 was £254 (2022: £0), which will be settled in the normal course of business.