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R.V. Elliott & Co Limited

Financial Statements for the Year Ended 31 March 2024






R.V. Elliott & Co Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: U R Olding
J A Olding





SECRETARY: U R Olding





REGISTERED OFFICE: 1 Springfield Place
Canton
Cardiff
CF11 9NY





REGISTERED NUMBER: 01047271 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
R.V. Elliott & Co Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of R.V. Elliott & Co Limited for the year ended 31 March 2024 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of R.V. Elliott & Co Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R.V. Elliott & Co Limited and state those matters that we have agreed to state to the Board of Directors of R.V. Elliott & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R.V. Elliott & Co Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that R.V. Elliott & Co Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of R.V. Elliott & Co Limited. You consider that R.V. Elliott & Co Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of R.V. Elliott & Co Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


16 August 2024

R.V. Elliott & Co Limited (Registered number: 01047271)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 24,371 30,529

CURRENT ASSETS
Stocks 25,382 45,998
Debtors 5 132,067 61,030
Investments 6 181,231 148,208
Cash at bank and in hand 206,479 137,663
545,159 392,899
CREDITORS
Amounts falling due within one year 7 109,676 62,571
NET CURRENT ASSETS 435,483 330,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

459,854

360,857

PROVISIONS FOR LIABILITIES 3,100 3,230
NET ASSETS 456,754 357,627

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 455,754 356,627
SHAREHOLDERS' FUNDS 456,754 357,627

R.V. Elliott & Co Limited (Registered number: 01047271)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





J A Olding - Director


R.V. Elliott & Co Limited (Registered number: 01047271)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

R.V. Elliott & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

R.V. Elliott & Co Limited (Registered number: 01047271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments held as current assets are stated at open market value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 8 ) .

R.V. Elliott & Co Limited (Registered number: 01047271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 24,558 3,155 96,360 124,073
Additions 2,530 - - 2,530
At 31 March 2024 27,088 3,155 96,360 126,603
DEPRECIATION
At 1 April 2023 23,387 3,155 67,002 93,544
Charge for year 1,348 - 7,340 8,688
At 31 March 2024 24,735 3,155 74,342 102,232
NET BOOK VALUE
At 31 March 2024 2,353 - 22,018 24,371
At 31 March 2023 1,171 - 29,358 30,529

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 109,960 48,471
Other debtors & prepayments 22,107 12,559
132,067 61,030

Included in other debtors is £9,301 owed by Director to the Company.This was repaid on 29th April 2024.

6. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 181,231 148,208

R.V. Elliott & Co Limited (Registered number: 01047271)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 24,022 20,275
Taxes & social security costs 74,786 34,390
Other creditors & accruals 10,868 7,906
109,676 62,571

8. ULTIMATE CONTROLLING PARTY

The controlling party is J A Olding.