IRIS Accounts Production v24.2.0.383 03243857 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh032438572023-01-31032438572024-01-31032438572023-02-012024-01-31032438572022-01-31032438572022-02-012023-01-31032438572023-01-3103243857ns15:EnglandWales2023-02-012024-01-3103243857ns14:PoundSterling2023-02-012024-01-3103243857ns10:Director12023-02-012024-01-3103243857ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3103243857ns10:SmallEntities2023-02-012024-01-3103243857ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3103243857ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3103243857ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3103243857ns10:FullAccounts2023-02-012024-01-3103243857ns10:Director22023-02-012024-01-3103243857ns10:Director32023-02-012024-01-3103243857ns10:CompanySecretary12023-02-012024-01-3103243857ns10:RegisteredOffice2023-02-012024-01-3103243857ns5:CurrentFinancialInstruments2024-01-3103243857ns5:CurrentFinancialInstruments2023-01-3103243857ns5:Non-currentFinancialInstruments2024-01-3103243857ns5:Non-currentFinancialInstruments2023-01-3103243857ns5:ShareCapital2024-01-3103243857ns5:ShareCapital2023-01-3103243857ns5:RetainedEarningsAccumulatedLosses2024-01-3103243857ns5:RetainedEarningsAccumulatedLosses2023-01-3103243857ns5:LeaseholdImprovements2023-02-012024-01-3103243857ns5:PlantMachinery2023-02-012024-01-3103243857ns5:MotorVehicles2023-02-012024-01-3103243857ns5:LeaseholdImprovements2023-01-3103243857ns5:PlantMachinery2023-01-3103243857ns5:MotorVehicles2023-01-3103243857ns5:LeaseholdImprovements2024-01-3103243857ns5:PlantMachinery2024-01-3103243857ns5:MotorVehicles2024-01-3103243857ns5:LeaseholdImprovements2023-01-3103243857ns5:PlantMachinery2023-01-3103243857ns5:MotorVehicles2023-01-3103243857ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-01-3103243857ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3103243857ns5:AcceleratedTaxDepreciationDeferredTax2024-01-3103243857ns5:AcceleratedTaxDepreciationDeferredTax2023-01-3103243857ns5:DeferredTaxation2023-01-3103243857ns5:DeferredTaxation2023-02-012024-01-3103243857ns5:DeferredTaxation2024-01-31
REGISTERED NUMBER: 03243857 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Ringwood Fencing Limited

Ringwood Fencing Limited (Registered number: 03243857)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Ringwood Fencing Limited

Company Information
for the Year Ended 31 January 2024







Directors: A Hughes-Jones
J Cooke
D Hughes-Jones





Secretary: J Cooke





Registered office: 114-120 Northgate Street
Chester
CH1 2HT





Registered number: 03243857 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

Ringwood Fencing Limited (Registered number: 03243857)

Statement of Financial Position
31 January 2024

31/1/24 31/1/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 127,278 134,191

Current assets
Stocks 117,939 132,048
Debtors 5 197,973 271,490
Cash at bank and in hand 212,794 155,825
528,706 559,363
Creditors
Amounts falling due within one year 6 194,389 213,716
Net current assets 334,317 345,647
Total assets less current liabilities 461,595 479,838

Creditors
Amounts falling due after more than
one year

7

(64,330

)

(84,116

)

Provisions for liabilities 9 (31,609 ) (33,548 )
Net assets 365,656 362,174

Capital and reserves
Called up share capital 10,000 10,000
Retained earnings 355,656 352,174
365,656 362,174

Ringwood Fencing Limited (Registered number: 03243857)

Statement of Financial Position - continued
31 January 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 October 2024 and were signed on its behalf by:





A Hughes-Jones - Director


Ringwood Fencing Limited (Registered number: 03243857)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Ringwood Fencing 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold improvements - 10% on cost
Plant and machinery - 15% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.


Ringwood Fencing Limited (Registered number: 03243857)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 18 (2023 - 19 ) .

Ringwood Fencing Limited (Registered number: 03243857)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. Tangible fixed assets
Leasehold Plant and Motor
improvements machinery vehicles Totals
£    £    £    £   
Cost
At 1 February 2023 18,557 175,886 291,846 486,289
Additions - 11,820 19,995 31,815
Disposals - (26,222 ) (18,529 ) (44,751 )
At 31 January 2024 18,557 161,484 293,312 473,353
Depreciation
At 1 February 2023 18,557 133,836 199,705 352,098
Charge for year - 7,266 25,922 33,188
Eliminated on disposal - (20,795 ) (18,416 ) (39,211 )
At 31 January 2024 18,557 120,307 207,211 346,075
Net book value
At 31 January 2024 - 41,177 86,101 127,278
At 31 January 2023 - 42,050 92,141 134,191

5. Debtors: amounts falling due within one year
31/1/24 31/1/23
£    £   
Trade debtors 74,249 96,350
Amounts owed by group undertakings 123,724 174,640
Other debtors - 500
197,973 271,490

6. Creditors: amounts falling due within one year
31/1/24 31/1/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 22,907 20,206
Trade creditors 127,357 100,703
Taxation and social security 22,425 25,038
Other creditors 11,700 57,769
194,389 213,716

Ringwood Fencing Limited (Registered number: 03243857)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. Creditors: amounts falling due after more than one year
31/1/24 31/1/23
£    £   
Bank loans 20,493 30,493
Hire purchase contracts 43,837 53,623
64,330 84,116

8. Secured debts

The following secured debts are included within creditors:

31/1/24 31/1/23
£    £   
Hire purchase contracts 66,744 73,829

Hire purchase contracts are secured by way of charge over the related asset.

9. Provisions for liabilities
31/1/24 31/1/23
£    £   
Deferred tax
Accelerated capital allowances 31,609 33,548

Deferred
tax
£   
Balance at 1 February 2023 33,548
Credit to Statement of Income and Retained Earnings during
year

(1,939

)
Balance at 31 January 2024 31,609

10. Lease commitments

At 31 January 2024 the company had commitments under non-cancellable operating leases over the remaining life of these leases of £nil (2023: £16,968). The amount payable within one year in respect of these leases was £nil (2023: £16,968).