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REGISTERED NUMBER: 05688431 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2023

FOR

RICHARDSON & PEAT LIMITED

RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


RICHARDSON & PEAT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2023







DIRECTORS: Mrs J M Peat
S R Richardson
M J Peat
J Boyne





SECRETARY: Mrs J M Peat





REGISTERED OFFICE: 17 Horsefair Lane
Odell
Bedford
Bedfordshire
MK43 7AU





REGISTERED NUMBER: 05688431 (England and Wales)





ACCOUNTANTS: Camfield Chapman Lowe
9 High Street
Woburn Sands
Milton Keynes
Buckinghamshire
MK17 8RF

RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)

STATEMENT OF FINANCIAL POSITION
31ST OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 23,881 31,303

CURRENT ASSETS
Debtors 5 590,607 777,947
Cash at bank 27,571 69,181
618,178 847,128
CREDITORS
Amounts falling due within one year 6 474,152 750,207
NET CURRENT ASSETS 144,026 96,921
TOTAL ASSETS LESS CURRENT
LIABILITIES

167,907

128,224

CREDITORS
Amounts falling due after more than one
year

7

(27,956

)

(50,146

)

PROVISIONS FOR LIABILITIES (4,537 ) (5,947 )
NET ASSETS 135,414 72,131

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 135,314 72,031
SHAREHOLDERS' FUNDS 135,414 72,131

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)

STATEMENT OF FINANCIAL POSITION - continued
31ST OCTOBER 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 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 11th April 2024 and were signed on its behalf by:





Mrs J M Peat - Director


RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2023

1. STATUTORY INFORMATION

Richardson & Peat 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Revenue recognition
Revenue from contracts is regcognised by reference to the stage of completion of the contract activity at the balance sheet date.

Profit attributable to contract activity is recognised if the final outcome of such contracts can be reliably assessed.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 8 ) .

RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st November 2022 11,535 1,445 35,880 8,758 57,618
Additions - - - 533 533
At 31st October 2023 11,535 1,445 35,880 9,291 58,151
DEPRECIATION
At 1st November 2022 11,107 1,354 5,980 7,874 26,315
Charge for year 141 18 7,475 321 7,955
At 31st October 2023 11,248 1,372 13,455 8,195 34,270
NET BOOK VALUE
At 31st October 2023 287 73 22,425 1,096 23,881
At 31st October 2022 428 91 29,900 884 31,303

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 182,222 177,403
Amounts recoverable on contract 367,220 593,398
Other debtors 41,165 7,146
590,607 777,947

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 23,262 64,262
Trade creditors 327,854 579,168
Taxation and social security 28,717 15,710
Other creditors 94,319 91,067
474,152 750,207

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,956 50,146

RICHARDSON & PEAT LIMITED (REGISTERED NUMBER: 05688431)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 51,218 114,408

A debenture in favour of National Westminster Bank plc was created on 24th February 2009 to secure all liabilities to the said bank.