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Registered number: 05439244
R & A Engineering Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Martin Nye
Chartered Certified Accountants
186 High Street
Winslow
Buckinghamshire
MK18 3DQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05439244
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 9,550 19,100
Tangible Assets 5 1,627,762 1,502,049
1,637,312 1,521,149
CURRENT ASSETS
Stocks 6 26,005 24,928
Debtors 7 240,485 261,656
Cash at bank and in hand 42,264 51,852
308,754 338,436
Creditors: Amounts Falling Due Within One Year 8 (470,547 ) (453,445 )
NET CURRENT ASSETS (LIABILITIES) (161,793 ) (115,009 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,475,519 1,406,140
Creditors: Amounts Falling Due After More Than One Year 9 (469,718 ) (544,197 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 11 (348,968 ) (294,863 )
NET ASSETS 656,833 567,080
CAPITAL AND RESERVES
Called up share capital 13 2 2
Profit and Loss Account 656,831 567,078
SHAREHOLDERS' FUNDS 656,833 567,080
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Piotrowski
Director
14th August 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
R & A Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05439244 . The registered office is Unit 7 Farmbrough Close, Aylesbury, Buckinghamshire, HP20 1DQ. The presentation currency is £ Sterling rounded to the nearest £1.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 25%, 20% and 5% Reducing Balance
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
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 stocks.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.7. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Employees 20 21
20 21
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 191,000
As at 31 March 2024 191,000
Amortisation
As at 1 April 2023 171,900
Provided during the period 9,550
As at 31 March 2024 181,450
Net Book Value
As at 31 March 2024 9,550
As at 1 April 2023 19,100
5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Total
£ £ £
Cost
As at 1 April 2023 18,691 2,094,660 2,113,351
Additions - 205,190 205,190
As at 31 March 2024 18,691 2,299,850 2,318,541
Depreciation
As at 1 April 2023 15,174 596,128 611,302
Provided during the period 1,869 77,608 79,477
As at 31 March 2024 17,043 673,736 690,779
Net Book Value
As at 31 March 2024 1,648 1,626,114 1,627,762
As at 1 April 2023 3,517 1,498,532 1,502,049
Page 4
Page 5
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 912,905 933,334
6. Stocks
2024 2023
£ £
Stock 26,005 24,928
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 211,183 224,470
Prepayments and accrued income 29,261 32,804
Other debtors 30 -
Corporation tax recoverable assets 11 4,382
240,485 261,656
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 159,328 166,685
Trade creditors 143,324 165,997
Bank loans and overdrafts 5,214 5,214
Other taxes and social security 11,344 13,473
VAT 47,040 53,337
Other creditors 64,821 25,848
Accruals and deferred income 19,475 22,751
Directors' loan accounts 20,001 140
470,547 453,445
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 373,697 407,949
Bank loans 31,521 36,748
Other creditors 64,500 99,500
469,718 544,197
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2024 2023
£ £
Bank loans 10,615 15,893
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10. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
National Westminster Bank Plc has a fixed and floating charge over the assets of the company, as at 31st March 2024 £nil (2023 - £nil) was owed to National Westminster Bank Plc. in respect of this charge.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 533,025 574,634
11. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Accelerated capital allowances 348,968 294,863
12. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 April 2023 294,863 294,863
Additions 54,105 54,105
Balance at 31 March 2024 348,968 348,968
13. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
14. Other Commitments
The company is committed to making quarterly service charge payments, the estimated amount payable in the future is £4,228 per quarter. 
The company is committed to making estimated quarterly rental payments amounting to £18,447 per quarter.
These payments are due to be made until October 2024.
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