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Registration number: 06461034

Randall & Warner Building Contractors Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Randall & Warner Building Contractors Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Randall & Warner Building Contractors Limited

Company Information

Directors

Mr J R Randall

Mr D Randall

Mr L Randall

Mr D Warner

Registered office

The Bungalow
Walton Cardiff
Tewkesbury
Gloucestershire
GL20 7BL

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Randall & Warner Building Contractors Limited

(Registration number: 06461034)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

5

180,000

225,000

Current assets

 

Cash at bank and in hand

 

71

1,922

Creditors: Amounts falling due within one year

6

(91,519)

(89,346)

Net current liabilities

 

(91,448)

(87,424)

Total assets less current liabilities

 

88,552

137,576

Provisions for liabilities

(13,765)

(25,690)

Net assets

 

74,787

111,886

Capital and reserves

 

Called up share capital

200

200

Revaluation reserve

77,800

110,875

Retained earnings

(3,213)

811

Shareholders' funds

 

74,787

111,886

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
Mr D Randall
Director

.........................................
Mr D Warner
Director

 
     
 

Randall & Warner Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Bungalow
Walton Cardiff
Tewkesbury
Gloucestershire
GL20 7BL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

 

Randall & Warner Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Asset class

Amortisation method and rate

Goodwill

Fully written down

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Randall & Warner Building Contractors Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

10,000

10,000

At 31 December 2023

10,000

10,000

Amortisation

At 1 January 2023

10,000

10,000

At 31 December 2023

10,000

10,000

Carrying amount

At 31 December 2023

-

-

At 31 December 2022

-

-

5

Investment properties

2023
£

At 1 January 2023

225,000

Fair value adjustments

(45,000)

At 31 December 2023

180,000

If the investment property had not been revalued, it would have been included at a historical cost of £88,435 (2022: £88,435). The directors have considered the value of the property and they consider £180,000 to be its market value at 31 December 2023.

6

Creditors

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

1,254

-

Amounts owed to related parties

89,005

88,205

Other creditors

 

1,260

1,141

 

91,519

89,346

There remains a legal charge over the freehold property at 5 Chance Street.