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REGISTERED NUMBER: 03340135 (England and Wales)










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: J G Self
P A Dennis





SECRETARY: R Self





REGISTERED OFFICE: Unit 9, Hornet Business Estate
Quarry Hill Road
Borough Green
Sevenoaks
Kent
TN15 8QW





REGISTERED NUMBER: 03340135 (England and Wales)





ACCOUNTANTS: RJP LLP
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 98,366 196,256
98,366 196,256

CURRENT ASSETS
Debtors 6 4,797,210 3,707,906
Cash at bank and in hand 391,443 933,480
5,188,653 4,641,386
CREDITORS
Amounts falling due within one year 7 3,796,319 3,385,430
NET CURRENT ASSETS 1,392,334 1,255,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,490,700

1,452,212

CREDITORS
Amounts falling due after more than one
year

8

(322,637

)

(639,865

)

PROVISIONS FOR LIABILITIES 11 (2,888 ) (2,086 )
NET ASSETS 1,165,175 810,261

CAPITAL AND RESERVES
Called up share capital 12 500 500
Capital redemption reserve 500 500
Retained earnings 1,164,175 809,261
SHAREHOLDERS' FUNDS 1,165,175 810,261

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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.

RAINSFORD CONTRACTS LIMITED (REGISTERED NUMBER: 03340135)

BALANCE SHEET - continued
30 SEPTEMBER 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by:





J G Self - Director


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 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.

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 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 19 (2022 - 21 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2022
and 30 September 2023 (314,939 )
AMORTISATION
At 1 October 2022
and 30 September 2023 (314,939 )
NET BOOK VALUE
At 30 September 2023 -
At 30 September 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 489,967
Additions 7,000
Disposals (87,480 )
At 30 September 2023 409,487
DEPRECIATION
At 1 October 2022 293,711
Charge for year 45,176
Eliminated on disposal (27,766 )
At 30 September 2023 311,121
NET BOOK VALUE
At 30 September 2023 98,366
At 30 September 2022 196,256

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 226,046
Disposals (79,960 )
At 30 September 2023 146,086
DEPRECIATION
At 1 October 2022 46,574
Charge for year 36,522
Eliminated on disposal (21,656 )
At 30 September 2023 61,440
NET BOOK VALUE
At 30 September 2023 84,646
At 30 September 2022 179,472

6. DEBTORS
30.9.23 30.9.22
£    £   
Amounts falling due within one year:
Trade debtors 1,228,221 937,101
Amounts recoverable on contract 3,230,263 2,131,413
Other debtors 270,299 361,476
4,728,783 3,429,990

Amounts falling due after more than one year:
Trade debtors 68,427 277,916

Aggregate amounts 4,797,210 3,707,906

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Bank loans and overdrafts 250,000 250,000
Finance leases (see note 9) 27,637 40,392
Trade creditors 1,510,241 1,262,963
Taxation and social security 215,054 50,463
Other creditors 1,793,387 1,781,612
3,796,319 3,385,430

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 250,000 500,000
Finance leases (see note 9) 72,637 139,865
322,637 639,865

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
30.9.23 30.9.22
£    £   
Net obligations repayable:
Within one year 27,637 40,392
Between one and five years 72,637 139,865
100,274 180,257

Non-cancellable operating leases
30.9.23 30.9.22
£    £   
Within one year 34,500 17,250
Between one and five years 66,125 100,625
100,625 117,875

10. SECURED DEBTS

The following secured debts are included within creditors:

30.9.23 30.9.22
£    £   
Bank loans 500,000 750,000

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 2,086
Provided during year 802
Balance at 30 September 2023 2,888

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: £    £   
500 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.