Registered number
07199544
R&R Electrics Ltd
Filleted Accounts
30 April 2024
R&R Electrics Ltd
Registered number: 07199544
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 36 3,047
Current assets
Debtors 4 28,299 49,762
Cash at bank and in hand 46,703 44,410
75,002 94,172
Creditors: amounts falling due within one year 5 (13,491) (14,551)
Net current assets 61,511 79,621
Total assets less current liabilities 61,547 82,668
Provisions for liabilities (8) (580)
Net assets 61,539 82,088
Capital and reserves
Called up share capital 1 1
Profit and loss account 61,538 82,087
Shareholders' funds 61,539 82,088
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.
Rafal Rejus
Director
Approved by the board on 11 November 2024
R&R Electrics Ltd
Notes to the Accounts
for the year ended 30 April 2024
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.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to stakeholder pension plans are expensed in the period in which they are paid.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 10,407
Disposals (9,823)
At 30 April 2024 584
Depreciation
At 1 May 2023 7,360
Charge for the year 146
On disposals (6,958)
At 30 April 2024 548
Net book value
At 30 April 2024 36
At 30 April 2023 3,047
4 Debtors 2024 2023
£ £
Trade debtors 9,264 23,997
Other debtors, prepayments, deposits and CIS tax excess 19,035 25,765
28,299 49,762
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 970 2,340
Taxation and social security costs 10,873 11,524
Other creditors 1,648 687
13,491 14,551
6 Other information
R&R Electrics Ltd is a private company limited by shares and incorporated in England. Its registered office is:
14, Bencroft Road
Hemel Hempstead
Hertfordshire
HP2 5UY
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