Registered number
04964061
R & D Surfacing Contractors Limited
Filleted Accounts
31 December 2023
R & D Surfacing Contractors Limited
Registered number: 04964061
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 7,132 9,510
37,132 39,510
Current assets
Debtors 5 44,113 4,312
Cash at bank and in hand 176,766 117,850
220,879 122,162
Creditors: amounts falling due within one year 6 (61,661) (34,637)
Net current assets 159,218 87,525
Total assets less current liabilities 196,350 127,035
Provisions for liabilities (1,355) (1,807)
Net assets 194,995 125,228
Capital and reserves
Called up share capital 2 2
Profit and loss account 194,993 125,226
Shareholders' funds 194,995 125,228
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.
D Smith
Director
Approved by the board on 19 September 2024
R & D Surfacing Contractors Limited
Notes to the Accounts
for the year ended 31 December 2023
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 25% reducing balance basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 30,000
At 31 December 2023 30,000
Amortisation
At 31 December 2023 -
Net book value
At 31 December 2023 30,000
At 31 December 2022 30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 71,383 35,784 107,167
At 31 December 2023 71,383 35,784 107,167
Depreciation
At 1 January 2023 68,285 29,372 97,657
Charge for the year 775 1,603 2,378
At 31 December 2023 69,060 30,975 100,035
Net book value
At 31 December 2023 2,323 4,809 7,132
At 31 December 2022 3,098 6,412 9,510
5 Debtors 2023 2022
£ £
Trade debtors 41,296 2,155
Other debtors 2,817 2,157
44,113 4,312
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 11,833 16,848
Taxation and social security costs 45,060 11,462
Other creditors 4,768 6,327
61,661 34,637
7 Other information
R & D Surfacing Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
26 Mortimers Lane
Fair Oak
Eastleigh
Hampshire
SO50 7BD
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