Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31Farming2023-04-01falsetrue22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10394145 2023-04-01 2024-03-31 10394145 2022-04-01 2023-03-31 10394145 2024-03-31 10394145 2023-03-31 10394145 c:Director1 2023-04-01 2024-03-31 10394145 c:Director2 2023-04-01 2024-03-31 10394145 d:CurrentFinancialInstruments 2024-03-31 10394145 d:CurrentFinancialInstruments 2023-03-31 10394145 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10394145 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10394145 d:ShareCapital 2024-03-31 10394145 d:ShareCapital 2023-03-31 10394145 d:RetainedEarningsAccumulatedLosses 2024-03-31 10394145 d:RetainedEarningsAccumulatedLosses 2023-03-31 10394145 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10394145 c:OrdinaryShareClass1 2024-03-31 10394145 c:OrdinaryShareClass1 2023-03-31 10394145 c:FRS102 2023-04-01 2024-03-31 10394145 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10394145 c:FullAccounts 2023-04-01 2024-03-31 10394145 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10394145 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10394145









R & M BASON LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
R & M BASON LTD
REGISTERED NUMBER: 10394145

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
18,446
8,463

Cash at bank and in hand
 5 
22,309
45,747

  
40,755
54,210

Creditors: amounts falling due within one year
 6 
(3,098)
(16,243)

Net current assets
  
 
 
37,657
 
 
37,967

Total assets less current liabilities
  
37,657
37,967

  

Net assets
  
37,657
37,967


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
37,655
37,965

  
37,657
37,967


Page 1

 
R & M BASON LTD
REGISTERED NUMBER: 10394145
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
M Bason
................................................
R Bason
Director
Director


Date: 14 June 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
R & M BASON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

R & M Bason Ltd (10394145) is a private limited company limited by shares, incorporated in England and Wales, with its registered office and principal place of business at Kytes Nest Farm, Monkhopton, Bridgnorth, Shropshire WY16 6XF. The comparative figures relate to the year ended 31 March 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
R & M BASON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress include labour and attributable overheads. 

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the
Page 4

 
R & M BASON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Trade debtors
11,301
6,175

Other debtors
6,412
1,600

Prepayments and accrued income
733
688

18,446
8,463



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,309
45,747

22,309
45,747


Page 5

 
R & M BASON LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
397
5,789

Other creditors
-
7,828

Accruals and deferred income
2,701
2,626

3,098
16,243



7.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2



8.


Related party transactions

During the year, the Company operated a loan account with its directors, which at 31 March 2024 had a debit balance of £4,302 (2023: credit £7,828). This is reflected within other trade debtors. Interest has been charged on the debit balance throughout the year at a rate of 2%, which totalled £125 for the year ended 31 March 2024.

 
Page 6