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Company No: 14994922 (England and Wales)

R J COMMERCIALS (CORNWALL) LIMITED

Unaudited Financial Statements
For the financial period from 11 July 2023 to 31 July 2024
Pages for filing with the registrar

R J COMMERCIALS (CORNWALL) LIMITED

Unaudited Financial Statements

For the financial period from 11 July 2023 to 31 July 2024

Contents

R J COMMERCIALS (CORNWALL) LIMITED

BALANCE SHEET

As at 31 July 2024
R J COMMERCIALS (CORNWALL) LIMITED

BALANCE SHEET (continued)

As at 31 July 2024
Note 31.07.2024
£
Fixed assets
Tangible assets 3 15,388
15,388
Current assets
Stocks 4 750
Debtors 5 2,823
Cash at bank and in hand 6 25,463
29,036
Creditors: amounts falling due within one year 7 ( 18,818)
Net current assets 10,218
Total assets less current liabilities 25,606
Provision for liabilities ( 2,924)
Net assets 22,682
Capital and reserves
Called-up share capital 8 121
Profit and loss account 22,561
Total shareholders' funds 22,682

For the financial period ending 31 July 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 J Commercials (Cornwall) Limited (registered number: 14994922) were approved and authorised for issue by the Board of Directors on 23 October 2024. They were signed on its behalf by:

Mr R Williams
Director
R J COMMERCIALS (CORNWALL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 July 2023 to 31 July 2024
R J COMMERCIALS (CORNWALL) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 11 July 2023 to 31 July 2024
1. Accounting policies

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

General information and basis of accounting

R J Commercials (Cornwall) 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 Lowin House, Tregolls Road, Truro, Cornwall, TR1 2NA, United Kingdom. The principal place of business is Pendale, Penhallow, Truro, TR4 9NF.

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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. 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, reducing balance] basis over its expected useful life, as follows:

Plant and machinery 20 - 25 % reducing balance
Vehicles 20 % reducing balance
Tools and equipment 20 % reducing balance

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Period from
11.07.2023 to
31.07.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Plant and machinery Vehicles Tools and equipment Total
£ £ £ £
Cost
At 11 July 2023 0 0 0 0
Additions 8,794 4,769 4,611 18,174
At 31 July 2024 8,794 4,769 4,611 18,174
Accumulated depreciation
At 11 July 2023 0 0 0 0
Charge for the financial period 2,033 565 188 2,786
At 31 July 2024 2,033 565 188 2,786
Net book value
At 31 July 2024 6,761 4,204 4,423 15,388

4. Stocks

31.07.2024
£
Stocks 750

5. Debtors

31.07.2024
£
Trade debtors 2,436
Other debtors 387
2,823

6. Cash and cash equivalents

31.07.2024
£
Cash at bank and in hand 25,463

7. Creditors: amounts falling due within one year

31.07.2024
£
Taxation and social security 2,974
Other creditors 15,844
18,818

8. Called-up share capital

31.07.2024
£
Allotted, called-up and fully-paid
120 Ordinary A shares of £ 1.00 each 120
1 Ordinary B share of £ 1.00 1
121