Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 06745708 Mr Robin Nicholls Mrs Sonia Nicholls iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06745708 2023-03-31 06745708 2024-03-31 06745708 2023-04-01 2024-03-31 06745708 frs-core:CurrentFinancialInstruments 2024-03-31 06745708 frs-core:Non-currentFinancialInstruments 2024-03-31 06745708 frs-core:FurnitureFittings 2024-03-31 06745708 frs-core:FurnitureFittings 2023-04-01 2024-03-31 06745708 frs-core:FurnitureFittings 2023-03-31 06745708 frs-core:NetGoodwill 2024-03-31 06745708 frs-core:NetGoodwill 2023-03-31 06745708 frs-core:MotorVehicles 2024-03-31 06745708 frs-core:MotorVehicles 2023-04-01 2024-03-31 06745708 frs-core:MotorVehicles 2023-03-31 06745708 frs-core:PlantMachinery 2024-03-31 06745708 frs-core:PlantMachinery 2023-04-01 2024-03-31 06745708 frs-core:PlantMachinery 2023-03-31 06745708 frs-core:ShareCapital 2024-03-31 06745708 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 06745708 frs-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06745708 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 06745708 frs-bus:SmallEntities 2023-04-01 2024-03-31 06745708 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06745708 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06745708 frs-bus:Director1 2023-04-01 2024-03-31 06745708 frs-bus:Director1 2023-03-31 06745708 frs-bus:Director1 2024-03-31 06745708 frs-bus:Director2 2023-04-01 2024-03-31 06745708 frs-countries:EnglandWales 2023-04-01 2024-03-31 06745708 2022-03-31 06745708 2023-03-31 06745708 2022-04-01 2023-03-31 06745708 frs-core:CurrentFinancialInstruments 2023-03-31 06745708 frs-core:Non-currentFinancialInstruments 2023-03-31 06745708 frs-core:ShareCapital 2023-03-31 06745708 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 06745708
R.P. Joinery Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
THE BUBB SHERWIN PARTNERSHIP LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06745708
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 5,537 6,924
5,537 6,924
CURRENT ASSETS
Stocks 6 9,527 14,344
Debtors 7 13,889 10,641
Cash at bank and in hand 42,891 71,636
66,307 96,621
Creditors: Amounts Falling Due Within One Year 8 (20,205 ) (31,386 )
NET CURRENT ASSETS (LIABILITIES) 46,102 65,235
TOTAL ASSETS LESS CURRENT LIABILITIES 51,639 72,159
Creditors: Amounts Falling Due After More Than One Year 9 (6,956 ) (11,911 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (1,052 ) (1,315 )
NET ASSETS 43,631 58,933
CAPITAL AND RESERVES
Called up share capital 10 90 90
Profit and Loss Account 43,541 58,843
SHAREHOLDERS' FUNDS 43,631 58,933
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Robin Nicholls
Director
11/11/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
R.P. Joinery Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06745708 . The registered office is Unit 3, , 2 Beresford Road, Whitstable, Kent, CT5 1JP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, net of discounts and Value Added Tax.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. 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.
Where investments in non-convertible preference shares and non-puttable ordinary shares or
preference shares are publicly traded or their fair value can otherwise be measured reliably, the
investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.
All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment
for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a
market rate, in which case the asset is measured at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument. 
Other financial instruments are subsequently measured at fair value, with any changes recognised in
profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets or either assessed
individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal
does not result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Government Grant
Government grants are recognised at the fair value of the asset received or receivable. Grants are not
recognised until there is reasonable assurance that the company will comply with the conditions
attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis
over the periods in which the company recognises the related costs for which the grant is intended to
compensate. Grants that are receivable as compensation for expenses or losses already incurred or for
the purpose of giving immediate financial support to the entity with no future related costs are
recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life
of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income
and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related
conditions on the recipient, it is recognised in income when the grant proceeds are received or
receivable. Where the grant does impose specified future performance-related conditions on the
recipient, it is recognised in income only when the performance-related conditions have been met.
Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a
liability.
2.7. Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over
the useful life of that asset as follows:
Goodwill - 20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or
residual value of an intangible asset, the amortisation is revised prospectively to reflect the new
estimates.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2023: 4)
4 4
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 10,533
As at 31 March 2024 10,533
Amortisation
As at 1 April 2023 10,533
As at 31 March 2024 10,533
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 18,711 7,460 8,641 34,812
Additions - - 485 485
As at 31 March 2024 18,711 7,460 9,126 35,297
Depreciation
As at 1 April 2023 16,560 4,857 6,471 27,888
Provided during the period 537 651 684 1,872
As at 31 March 2024 17,097 5,508 7,155 29,760
Net Book Value
As at 31 March 2024 1,614 1,952 1,971 5,537
As at 1 April 2023 2,151 2,603 2,170 6,924
6. Stocks
2024 2023
£ £
Stock 3,877 3,539
Work progress 5,650 10,805
9,527 14,344
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 11,363 4,584
Other debtors 2,526 6,057
13,889 10,641
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,298 5,271
Bank loans and overdrafts 5,102 5,100
Other creditors 132 515
Taxation and social security 9,673 20,500
20,205 31,386
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 6,956 11,911
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 90 90
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Mr Robin Nicholls 3,999 (3,374 ) - - 625
The above loan is unsecured, interest free and repayable on demand.
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