Registered number
08119179
R & C Bunce Limited
Filleted Accounts
30 June 2024
R & C Bunce Limited
Company Information
Directors
R J Bunce
Mrs C Bunce
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
Elf Stone Hollow
Lower Apperley
Glos
Registered number
08119179
R & C Bunce Limited
Registered number: 08119179
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,000 27,060
Current assets
Stocks - 1,500
Debtors 4 14,861 27,824
Cash at bank and in hand 2,051 13,758
16,912 43,082
Creditors: amounts falling due within one year 5 (13,378) (23,515)
Net current assets 3,534 19,567
Total assets less current liabilities 24,534 46,627
Creditors: amounts falling due after more than one year 6 (24,264) (45,174)
Net assets 270 1,453
Capital and reserves
Called up share capital 2 2
Profit and loss account 268 1,451
Shareholders' funds 270 1,453
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R J Bunce Mrs C Bunce
Director
Approved by the board on 31 July 2024
R & C Bunce Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 4 years
Tools and equipment over 4 years
Office equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles Tools and equipment Office equipment Total
£ £ £ £
Cost
At 1 July 2023 41,000 18,229 936 60,165
At 30 June 2024 41,000 18,229 936 60,165
Depreciation
At 1 July 2023 21,440 10,729 936 33,105
Charge for the year 2,310 3,750 - 6,060
At 30 June 2024 23,750 14,479 936 39,165
Net book value
At 30 June 2024 17,250 3,750 - 21,000
At 30 June 2023 19,560 7,500 - 27,060
4 Debtors 2024 2023
£ £
Trade debtors - 27,824
Other debtors 14,861 -
14,861 27,824
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 8,937 15,656
Taxation and social security costs 1,691 5,109
Other creditors 2,750 2,750
13,378 23,515
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,273 17,250
Obligations under finance lease and hire purchase contracts 11,991 16,352
Directors loan - 11,572
24,264 45,174
7 Controlling party
The company is controlled by the directors.
8 Other information
R & C Bunce Limited is a private company limited by shares and incorporated in England. Its registered office is:
Elf Stone Hollow
Lower Apperley
Glos
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