REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
RAINSFORD CONTRACTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
FOR |
RAINSFORD CONTRACTS LIMITED |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RAINSFORD CONTRACTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Ground Floor |
Egerton House |
68 Baker Street |
Weybridge |
Surrey |
KT13 8AL |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
BALANCE SHEET |
30 SEPTEMBER 2023 |
30.9.23 | 30.9.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 11 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 12 |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
BALANCE SHEET - continued |
30 SEPTEMBER 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
1. | STATUTORY INFORMATION |
Rainsford Contracts Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and work in progress |
Turnover arises from the increase in the value of work performed on contracts during the year. Where the outcome of a long-term contract can be estimated reliably and it is probable that the contract will be profitable, revenue and costs are recognised by reference to the stage of completion of the contract activity at the balance sheet date. |
A prudent level of profit attributable to the contract activity is taken up only if the final outcome of such contracts can be reliably assessed. |
When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised immediately. |
Work in progress is stated at cost less a provision for foreseeable losses. Cost includes all expenditure related directly to specific projects and an appropriate allocation of fixed and variable overheads. |
Intangible assets |
Negative goodwill is initially measured as the market values of assets acquired less amounts paid. Negative goodwill is released to the profit and loss account in the period the underlying assets benefit the company. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off the cost of each asset over its estimated useful life, on a straight line basis, as follows: |
Plant & machinery etc | - 4 years |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
Leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease. |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Pension costs and other post-retirement benefits |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 October 2022 |
and 30 September 2023 | ( |
) |
AMORTISATION |
At 1 October 2022 |
and 30 September 2023 | ( |
) |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
Additions |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2022 |
Disposals | ( |
) |
At 30 September 2023 |
DEPRECIATION |
At 1 October 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 September 2023 |
NET BOOK VALUE |
At 30 September 2023 |
At 30 September 2022 |
6. | DEBTORS |
30.9.23 | 30.9.22 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Amounts falling due after more than one year: |
Trade debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans and overdrafts |
Finance leases (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
Finance leases (see note 9) |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Finance leases |
30.9.23 | 30.9.22 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
30.9.23 | 30.9.22 |
£ | £ |
Within one year |
Between one and five years |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.9.23 | 30.9.22 |
£ | £ |
Bank loans |
At the balance sheet date the company's bankers and the director held a fixed and floating charge over all assets of the company. |
11. | PROVISIONS FOR LIABILITIES |
30.9.23 | 30.9.22 |
£ | £ |
Deferred tax | 2,888 | 2,086 |
Deferred |
tax |
£ |
Balance at 1 October 2022 |
Provided during year |
Balance at 30 September 2023 |
RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2023 |
12. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.23 | 30.9.22 |
value: | £ | £ |
Ordinary | £1.00 | 500 | 500 |
13. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022: |
30.9.23 | 30.9.22 |
£ | £ |
Director |
Balance outstanding at start of year | (9,266 | ) | (227,244 | ) |
Amounts advanced | 127,449 | 232,182 |
Amounts repaid | (34,826 | ) | (14,204 | ) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | 83,357 | (9,266 | ) |
Interest was charged on the loan to the director at a rate of 2.25% per annum. |