Restoration Works Limited NI683620 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is Restoration of traditional buildings and structures. Digita Accounts Production Advanced 6.30.9574.0 true NI683620 2022-12-01 2023-11-30 NI683620 2023-11-30 NI683620 bus:OrdinaryShareClass1 2023-11-30 NI683620 core:CurrentFinancialInstruments 2023-11-30 NI683620 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 NI683620 core:MotorVehicles 2023-11-30 NI683620 core:OtherPropertyPlantEquipment 2023-11-30 NI683620 bus:SmallEntities 2022-12-01 2023-11-30 NI683620 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 NI683620 bus:FilletedAccounts 2022-12-01 2023-11-30 NI683620 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 NI683620 bus:RegisteredOffice 2022-12-01 2023-11-30 NI683620 bus:CompanySecretaryDirector1 2022-12-01 2023-11-30 NI683620 bus:Director2 2022-12-01 2023-11-30 NI683620 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 NI683620 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 NI683620 core:MotorVehicles 2022-12-01 2023-11-30 NI683620 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 NI683620 core:PlantMachinery 2022-12-01 2023-11-30 NI683620 countries:AllCountries 2022-12-01 2023-11-30 NI683620 2022-11-30 NI683620 core:MotorVehicles 2022-11-30 NI683620 core:OtherPropertyPlantEquipment 2022-11-30 NI683620 2021-11-05 2022-11-30 NI683620 2022-11-30 NI683620 bus:OrdinaryShareClass1 2022-11-30 NI683620 core:CurrentFinancialInstruments 2022-11-30 NI683620 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 NI683620 core:MotorVehicles 2022-11-30 NI683620 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI683620

Restoration Works Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Restoration Works Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Restoration Works Limited

(Registration number: NI683620)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

57,421

40,270

Current assets

 

Stocks

5

11,556

39,819

Debtors

6

83,953

29,007

Cash at bank and in hand

 

92,885

43,970

 

188,394

112,796

Creditors: Amounts falling due within one year

7

(45,006)

(53,625)

Net current assets

 

143,388

59,171

Total assets less current liabilities

 

200,809

99,441

Provisions for liabilities

(12,633)

(7,651)

Net assets

 

188,176

91,790

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

188,076

91,690

Shareholders' funds

 

188,176

91,790

For the financial year ending 30 November 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 21 August 2024 and signed on its behalf by:
 

.........................................
Mr Mark Patterson
Company secretary and director

.........................................
Mr Timothy McMillan
Director

 
     
 

Restoration Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in N Ireland.

The address of its registered office is:
56B Ballybogey Road
Ballymoney
Co Antrim
BT53 6NY

These financial statements were authorised for issue by the Board on 21 August 2024.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Restoration Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% straight line basis

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

Restoration Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 5).

 

Restoration Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2022

-

44,744

44,744

Additions

20,099

7,280

27,379

At 30 November 2023

20,099

52,024

72,123

Depreciation

At 1 December 2022

-

4,474

4,474

Charge for the year

5,025

5,203

10,228

At 30 November 2023

5,025

9,677

14,702

Carrying amount

At 30 November 2023

15,074

42,347

57,421

At 30 November 2022

-

40,270

40,270

5

Stocks

2023
£

2022
£

Other inventories

11,556

39,819

6

Debtors

Current

2023
£

2022
£

Trade debtors

36,612

1,351

Prepayments

1,240

594

Other debtors

46,101

27,062

 

83,953

29,007

 

Restoration Works Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

897

29,173

Taxation and social security

33,085

14,794

Accruals and deferred income

1,200

1,500

Other creditors

9,824

8,158

45,006

53,625

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100