Registered number
07036742
RCG Construction Limited
Filleted Accounts
31 October 2023
RCG Construction Limited
Registered number: 07036742
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 60,166 1,180
Investments 4 2 2
60,168 1,182
Current assets
Stocks 1,398,186 1,194,799
Debtors 5 24,164 14,553
Cash at bank and in hand 1,360 6,932
1,423,710 1,216,284
Creditors: amounts falling due within one year 6 (354,517) (181,197)
Net current assets 1,069,193 1,035,087
Total assets less current liabilities 1,129,361 1,036,269
Creditors: amounts falling due after more than one year 7 (1,162,523) (974,726)
Provisions for liabilities (5,915) (426)
Net (liabilities)/assets (39,077) 61,117
Capital and reserves
Called up share capital 12 12
Profit and loss account (39,089) 61,105
Shareholders' funds (39,077) 61,117
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.
Richard Rose
Director
Approved by the board on 7 March 2024
RCG Construction Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
Investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses. . Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 23,832 24,260 48,092
Additions 39,750 35,407 75,157
Disposals (11,000) - (11,000)
At 31 October 2023 52,582 59,667 112,249
Depreciation
At 1 November 2022 22,652 24,260 46,912
Charge for the year 7,990 7,081 15,071
On disposals (9,900) - (9,900)
At 31 October 2023 20,742 31,341 52,083
Net book value
At 31 October 2023 31,840 28,326 60,166
At 31 October 2022 1,180 - 1,180
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 November 2022 2
At 31 October 2023 2
5 Debtors 2023 2022
£ £
Trade debtors 270 1,036
Other debtors 23,894 13,517
24,164 14,553
6 Creditors: amounts falling due within one year 2023 2022
£ £
Loans and overdrafts 250,000 125,000
Obligations under finance lease and hire purchase contracts 8,728 -
Trade creditors 44,688 35,455
Taxation and social security costs 4,495 1,171
Other creditors 46,606 19,571
354,517 181,197
7 Creditors: amounts falling due after one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 37,138 -
Other creditors - Directors' loan accounts 1,125,385 974,726
1,162,523 974,726
8 Other information
RCG Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
73 High Street
Sutton
Ely
Cambs
CB6 2NL
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