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COMPANY REGISTRATION NUMBER: 10111875
Read Designers and Builders Limited
Filleted Unaudited Financial Statements
30 April 2023
Read Designers and Builders Limited
Balance Sheet
30 April 2023
2023
2022
Note
£
£
Current assets
Debtors
4
13,149
18,033
Creditors: amounts falling due within one year
5
10,008
10,400
--------
--------
Net current assets
3,141
7,633
-------
-------
Total assets less current liabilities
3,141
7,633
Creditors: amounts falling due after more than one year
6
17,173
23,307
--------
--------
Net liabilities
( 14,032)
( 15,674)
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 14,132)
( 15,774)
--------
--------
Shareholders deficit
( 14,032)
( 15,674)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 March 2024 , and are signed on behalf of the board by:
Mr J K Read
Director
Company registration number: 10111875
Read Designers and Builders Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is A3 Broomsleigh Business Park, Worsley Bridge Road, London, SE26 5BN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
20% straight line
Equipment
-
25% straight line
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Debtors
2023
2022
£
£
Other debtors
13,149
18,033
--------
--------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
7,365
7,360
Trade creditors
1,502
2,040
Corporation tax
141
Other creditors
1,000
1,000
--------
--------
10,008
10,400
--------
--------
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
17,173
23,307
--------
--------
7. Financial instruments
The carrying amount for each category of financial instrument is as follows:
2023
2022
£
£
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss
12,327
14,970
--------
--------
Financial liabilities measured at fair value through profit or loss
Financial liabilities measured at fair value through profit or loss
27,139
33,567
--------
--------
8. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr J K Read
3,141
2,558
5,699
-------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Mr J K Read
12,298
( 9,157)
3,141
--------
-------
-------