R F Fixing Ltd
Registered number: 04752666
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,939 30,593
Current assets
Debtors 4 358,937 599,080
Cash at bank and in hand 743,811 589,385
1,102,748 1,188,465
Creditors: amounts falling due within one year 5 (70,734) (163,214)
Net current assets 1,032,014 1,025,251
Net assets 1,053,953 1,055,844
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,053,853 1,055,744
Shareholders' funds 1,053,953 1,055,844
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.
Mr P Ryan
Director
Approved by the board on 19 December 2024
R F Fixing Ltd
Notes to the Accounts
for the year ended 31 May 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Motor Vehicles 25% Reducing Balance
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
Investments
Investments in unquoted equity instruments are measured at fair value. Changes in fair value are recognised in profit or loss. Fair value is estimated by using a valuation technique.
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. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 June 2023 91,058 101,618 192,676
Additions 2,543 - 2,543
Disposals (32,778) (3,500) (36,278)
At 31 May 2024 60,823 98,118 158,941
Depreciation
At 1 June 2023 77,248 84,835 162,083
Charge for the year 3,325 3,988 7,313
On disposals (29,724) (2,670) (32,394)
At 31 May 2024 50,849 86,153 137,002
Net book value
At 31 May 2024 9,974 11,965 21,939
At 31 May 2023 13,810 16,783 30,593
4 Debtors 2024 2023
£ £
Trade debtors 202,978 444,697
Amounts owed by group undertakings and undertakings in which the company has a participating interest 150,000 150,000
Deferred tax asset 4,959 3,383
Other debtors 1,000 1,000
358,937 599,080
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts - 593
Trade creditors 2,841 23,093
Corporation tax 35,309 4,758
Other taxes and social security costs 10,578 37,465
Other creditors 22,006 97,305
70,734 163,214
6 Other information
R F Fixing Ltd is a private company limited by shares and incorporated in England. Its registered office is:
E2 Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT
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