Silverfin false false 31/05/2024 01/06/2023 31/05/2024 K S Trott 03/02/2020 R K Trott 03/02/2020 31 October 2024 The principal activity of the Company during the financial period was that of property construction and development. 12437600 2024-05-31 12437600 bus:Director1 2024-05-31 12437600 bus:Director2 2024-05-31 12437600 2023-05-31 12437600 core:CurrentFinancialInstruments 2024-05-31 12437600 core:CurrentFinancialInstruments 2023-05-31 12437600 core:ShareCapital 2024-05-31 12437600 core:ShareCapital 2023-05-31 12437600 core:RetainedEarningsAccumulatedLosses 2024-05-31 12437600 core:RetainedEarningsAccumulatedLosses 2023-05-31 12437600 core:PlantMachinery 2023-05-31 12437600 core:PlantMachinery 2024-05-31 12437600 2023-06-01 2024-05-31 12437600 bus:FilletedAccounts 2023-06-01 2024-05-31 12437600 bus:SmallEntities 2023-06-01 2024-05-31 12437600 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 12437600 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 12437600 bus:Director1 2023-06-01 2024-05-31 12437600 bus:Director2 2023-06-01 2024-05-31 12437600 core:PlantMachinery core:TopRangeValue 2023-06-01 2024-05-31 12437600 2022-06-01 2023-05-31 12437600 core:PlantMachinery 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 12437600 (England and Wales)

R & K BUILDING LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

R & K BUILDING LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

R & K BUILDING LIMITED

BALANCE SHEET

As at 31 May 2024
R & K BUILDING LIMITED

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 15,870 24,180
15,870 24,180
Current assets
Stocks 4 1,055,867 737,891
Debtors 5 329,496 354,525
Cash at bank and in hand 6,189 24,036
1,391,552 1,116,452
Creditors: amounts falling due within one year 6 ( 1,356,950) ( 1,061,064)
Net current assets 34,602 55,388
Total assets less current liabilities 50,472 79,568
Net assets 50,472 79,568
Capital and reserves
Called-up share capital 2 2
Profit and loss account 50,470 79,566
Total shareholders' funds 50,472 79,568

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of R & K Building Limited (registered number: 12437600) were approved and authorised for issue by the Board of Directors on 31 October 2024. They were signed on its behalf by:

R K Trott
Director
R & K BUILDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
R & K BUILDING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

R & K Building Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Haywards Lane, Chelston, Wellington, TA21 9FD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 June 2023 41,550 41,550
At 31 May 2024 41,550 41,550
Accumulated depreciation
At 01 June 2023 17,370 17,370
Charge for the financial year 8,310 8,310
At 31 May 2024 25,680 25,680
Net book value
At 31 May 2024 15,870 15,870
At 31 May 2023 24,180 24,180

4. Stocks

2024 2023
£ £
Work in progress 1,055,867 737,891

5. Debtors

2024 2023
£ £
Trade debtors 8,833 0
Amounts owed by associates 250,000 278,412
Corporation tax 6,229 0
Other debtors 64,434 76,113
329,496 354,525

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 6,871 32,927
Amounts owed to associates 839,077 553,636
Taxation and social security 2,782 16,156
Other creditors 508,220 458,345
1,356,950 1,061,064

7. Related party transactions

Marshwood Homes Limited is a company under common control and ownership. At the year end the company was owed £nil (2023 - £28,412) from Marshwood Homes Limited.

SRK Scaffolding and Industrial Services Ltd is a company under common control and ownership. At the year end the company owed £337,077 (2023 - £51,636) to SRK Scaffolding and Industrial Services Ltd.

Bramleys Property Investments Limited is a company under common control and ownership. At the year end the company was owed £125,000 (2023 - £125,000) from Bramleys Property Investments Limited.

Mayfield Property Investments Limited is a company under common control and ownership. At the year end the company was owed £125,000 (2023 - £125,000) from Mayfield Property Investments Limited.

Trottco Limited is a company under common control and ownership. At the year end the company owed £502,000 (2023 - £502,000) to Trottco Limited.