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COMPANY REGISTRATION NUMBER: 04935332
RHAB Contractors Limited
Filleted Unaudited Financial Statements
For the year ended
31 October 2023
RHAB Contractors Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
281,824
336,948
Current assets
Stocks
32,560
47,590
Debtors
6
327,639
169,253
Cash at bank and in hand
73,043
13,411
---------
---------
433,242
230,254
Creditors: amounts falling due within one year
7
279,885
181,004
---------
---------
Net current assets
153,357
49,250
---------
---------
Total assets less current liabilities
435,181
386,198
Creditors: amounts falling due after more than one year
8
124,646
98,582
Provisions
48,660
74,072
---------
---------
Net assets
261,875
213,544
---------
---------
RHAB Contractors Limited
Statement of Financial Position (continued)
31 October 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
4
4
Profit and loss account
261,871
213,540
---------
---------
Shareholders funds
261,875
213,544
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 29 July 2024 , and are signed on behalf of the board by:
R Berry
Director
Company registration number: 04935332
RHAB Contractors Limited
Notes to the Financial Statements
Year ended 31 October 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 Enterprise House, 38 Tyndall court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR. The trading address is Yarwell House, 83 Main St, Yarwell, Peterborough, PE8 6PR.
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.
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 discounts and 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. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Freehold property
-
2% straight line
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 4 ).
5. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Nov 2022
140,854
368,204
21,485
207,017
2,991
740,551
Additions
22,528
52,410
74,938
Disposals
( 148,352)
( 73,500)
( 221,852)
---------
---------
--------
---------
-------
---------
At 31 Oct 2023
163,382
272,262
21,485
133,517
2,991
593,637
---------
---------
--------
---------
-------
---------
Depreciation
At 1 Nov 2022
6,522
219,249
18,540
156,998
2,294
403,603
Charge for the year
2,817
42,160
735
12,124
175
58,011
Disposals
( 81,506)
( 68,295)
( 149,801)
---------
---------
--------
---------
-------
---------
At 31 Oct 2023
9,339
179,903
19,275
100,827
2,469
311,813
---------
---------
--------
---------
-------
---------
Carrying amount
At 31 Oct 2023
154,043
92,359
2,210
32,690
522
281,824
---------
---------
--------
---------
-------
---------
At 31 Oct 2022
134,332
148,955
2,945
50,019
697
336,948
---------
---------
--------
---------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
162,125
96,110
Other debtors
165,514
73,143
---------
---------
327,639
169,253
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,048
10,168
Trade creditors
32,471
31,083
Social security and other taxes
83,842
78,399
Other creditors
158,524
61,354
---------
---------
279,885
181,004
---------
---------
Included in bank loans is a Bounce Back Loan that is guaranteed by the UK Government.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
34,495
39,543
Other creditors
90,151
59,039
---------
--------
124,646
98,582
---------
--------
Included in bank loans is a Bounce Back Loan that is guaranteed by the UK Government.
9. Director's advances, credits and guarantees
The director had a loan account with the company that was in credit at the start of the year. At the end of the year the director owed the company £130,865. Interest was charged on the balance.