Registered number
SC630187
RDAV CONSTRUCTION LIMITED
Filleted Accounts
31 May 2023
RDAV CONSTRUCTION LIMITED
Registered number: SC630187
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 26,681 35,575
Current assets
Debtors 4 8,764 16,872
Cash at bank and in hand 181,018 126,802
189,782 143,674
Creditors: amounts falling due within one year 5 (39,459) (26,580)
Net current assets 150,323 117,094
Total assets less current liabilities 177,004 152,669
Creditors: amounts falling due after more than one year 6 (14,380) (21,334)
Net assets 162,624 131,335
Capital and reserves
Called up share capital 1 1
Profit and loss account 162,623 131,334
Shareholders' funds 162,624 131,335
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Davidson
Director
Approved by the board on 12 March 2024
RDAV CONSTRUCTION LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 25% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2022 17,775 22,000 39,775
At 31 May 2023 17,775 22,000 39,775
Depreciation
At 1 June 2022 2,100 2,100 4,200
Charge for the year 3,919 4,975 8,894
At 31 May 2023 6,019 7,075 13,094
Net book value
At 31 May 2023 11,756 14,925 26,681
At 31 May 2022 15,675 19,900 35,575
4 Debtors 2023 2022
£ £
Other debtors 8,764 16,872
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,204 7,454
Trade creditors 1,773 -
Taxation and social security costs 28,324 12,534
Other creditors 2,158 6,592
39,459 26,580
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 14,380 21,334
7 Other information
RDAV CONSTRUCTION LIMITED is a private company limited by shares and incorporated in Scotland. Its registered office is:
34 Barony Court
Ardrossan
North Ayrshire
KA22 8DZ
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