REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
J & R M Richardson Construction |
(Darlington) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 June 2023 |
for |
J & R M Richardson Construction |
(Darlington) Limited |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
J & R M Richardson Construction |
(Darlington) Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
Co Durham |
DL3 7RT |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Balance Sheet |
30 June 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Balance Sheet - continued |
30 June 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
J & R M Richardson Construction (Darlington) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
There were no material departures from this 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. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Income recognition |
Income is recognised on contracts when income is received or is assessed to be receivable for the period based on the calculation of contract work in progress at the balance sheet date. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Fixed assets are measured at cost less accumulated depreciation and impairment. |
Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 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. |
Contract work in progress |
Contract work in progress is valued at costs incurred, net of amounts transferred to cost of sales, less foreseeable losses and payments on account not matched with turnover. Any profit attributable to contract work in progress, calculated in accordance with FRS 102, has been included by way of turnover and cost of sales, with the amount by which turnover is in excess of payments on account included in debtors in amounts due on contracts. |
Grants |
Capital based grants are credited to the profit and loss account in equal instalments, over the estimated useful life of the related asset. |
Revenue based grants are credited to the profit and loss account on receipt. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 July 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Work in progress |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts due on contracts | 174,271 | 17,085 |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
Amounts due to related |
undertaking | - | 32,619 |
Directors' current accounts | - | 40,779 |
Accruals and deferred income |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 2-5 years |
Hire purchase contracts (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2023 | 2022 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
9. | LEASING AGREEMENTS - continued |
Non-cancellable operating | leases |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Hire purchase contracts | 31,117 | 25,773 |
Hire purchase contracts are secured on the assets to which they relate. |
11. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 4,317 | 178 |
Deferred |
tax |
£ |
Balance at 1 July 2022 |
Accelerated capital allowances | 4,139 |
Balance at 30 June 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 10,000 | 10,000 |
A Ordinary | £1 | 1 | 1 |
B Ordinary | £1 | 100 | 100 |
10,101 | 10,101 |
The "Ordinary" , "A Ordinary" and ''B Ordinary'' shares shall constitute different classes of shares for the purposes of the Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same rights and rank pari passu in all respects except that the directors shall be entitled to pay such different dividend of the "Ordinary" , "A Ordinary" and ''B Ordinary'' shares as they shall from time to time decide. The "A Ordinary" shares do not hold voting rights. The "B Ordinary" shares do not hold voting rights or the right to attend meetings. |
J & R M Richardson Construction |
(Darlington) Limited (Registered number: 01991903) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
13. | RELATED PARTY DISCLOSURES |
2023 | 2022 |
£ | £ |
Amounts due to the directors | £ - | £40,779 |
Amount due to Estate of former |
director £40,956 £ - |
No interest has been charged. |
The above amount has been included within Other creditors. |