R & L Concrete Pumps Ltd
Registered number: 12395250
Statement of Financial Position
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 70,326 41,558
Current assets
Debtors 4 10,560 6,600
Cash at bank and in hand 7,200 4,623
17,760 11,223
Creditors: amounts falling due within one year 5 (20,771) (26,702)
Net current liabilities (3,011) (15,479)
Total assets less current liabilities 67,315 26,079
Creditors: amounts falling due after more than one year 6 (53,848) (18,082)
Provisions for liabilities (13,362) (7,896)
Net assets 105 101
Capital and reserves
Called up share capital 100 100
Profit and loss account 5 1
Shareholders' funds 105 101
The director is 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 director acknowledges his 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 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 Yeates
Director
Approved by the board on 4 March 2024
R & L Concrete Pumps Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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:
Plant and machinery 25% reducing balance
Motor vehicles over 5 years
Debtors
Short term debtors are measured at transaction 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. 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 39,476 32,742 72,218
Additions 50,000 - 50,000
At 31 January 2024 89,476 32,742 122,218
Depreciation
At 1 February 2023 19,818 10,842 30,660
Charge for the year 17,415 3,817 21,232
At 31 January 2024 37,233 14,659 51,892
Net book value
At 31 January 2024 52,243 18,083 70,326
At 31 January 2023 19,658 21,900 41,558
4 Debtors 2024 2023
£ £
Trade debtors 10,560 6,600
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,333 -
Obligations under finance lease and hire purchase contracts 3,817 3,817
Trade creditors 1,087 516
Accruals 1,100 1,045
Corporation tax 1,599 8,215
Other taxes and social security costs 4,618 3,386
Other creditors 217 9,723
20,771 26,702
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 39,583 -
Obligations under finance lease and hire purchase contracts 14,265 18,082
53,848 18,082
7 Other information
R & L Concrete Pumps Ltd is a private company limited by shares and incorporated in England. Its registered office is:
84c Kingston Crescent
Ashford
TW15 3NE
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