Relate Shopfitters Limited 06968436 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is joinery installation Digita Accounts Production Advanced 6.30.9574.0 true true 06968436 2023-08-01 2024-07-31 06968436 2024-07-31 06968436 core:CapitalRedemptionReserve 2024-07-31 06968436 core:RetainedEarningsAccumulatedLosses 2024-07-31 06968436 core:ShareCapital 2024-07-31 06968436 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-07-31 06968436 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-07-31 06968436 core:CurrentFinancialInstruments 2024-07-31 06968436 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 06968436 core:Non-currentFinancialInstruments 2024-07-31 06968436 core:Non-currentFinancialInstruments core:AfterOneYear 2024-07-31 06968436 core:MotorVehicles 2024-07-31 06968436 core:PlantMachinery 2024-07-31 06968436 bus:SmallEntities 2023-08-01 2024-07-31 06968436 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 06968436 bus:FilletedAccounts 2023-08-01 2024-07-31 06968436 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 06968436 bus:RegisteredOffice 2023-08-01 2024-07-31 06968436 bus:Director1 2023-08-01 2024-07-31 06968436 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 06968436 core:MotorVehicles 2023-08-01 2024-07-31 06968436 core:PlantMachinery 2023-08-01 2024-07-31 06968436 countries:EnglandWales 2023-08-01 2024-07-31 06968436 2023-07-31 06968436 core:MotorVehicles 2023-07-31 06968436 core:PlantMachinery 2023-07-31 06968436 2022-08-01 2023-07-31 06968436 2023-07-31 06968436 core:CapitalRedemptionReserve 2023-07-31 06968436 core:RetainedEarningsAccumulatedLosses 2023-07-31 06968436 core:ShareCapital 2023-07-31 06968436 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-07-31 06968436 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-07-31 06968436 core:CurrentFinancialInstruments 2023-07-31 06968436 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 06968436 core:Non-currentFinancialInstruments 2023-07-31 06968436 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 06968436 core:MotorVehicles 2023-07-31 06968436 core:PlantMachinery 2023-07-31 iso4217:GBP xbrli:pure

Registration number: 06968436

Relate Shopfitters Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Relate Shopfitters Limited

(Registration number: 06968436)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

38,932

51,913

Current assets

 

Debtors

5

176,226

70,781

Cash at bank and in hand

 

16,539

81,487

 

192,765

152,268

Creditors: Amounts falling due within one year

6

(163,856)

(104,381)

Net current assets

 

28,909

47,887

Total assets less current liabilities

 

67,841

99,800

Creditors: Amounts falling due after more than one year

6

(26,672)

(58,311)

Provisions for liabilities

(7,397)

(9,863)

Net assets

 

33,772

31,626

Capital and reserves

 

Called up share capital

7

100

100

Capital redemption reserve

25

25

Retained earnings

33,647

31,501

Shareholders' funds

 

33,772

31,626

For the financial year 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Relate Shopfitters Limited

(Registration number: 06968436)
Balance Sheet as at 31 July 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 10 December 2024 and signed on its behalf by:
 

.........................................
R J Edwards
Director

 

Relate Shopfitters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Alexander Road
Bilbrook
Wolverhampton
West Midlands
WV8 1JQ

These financial statements were authorised for issue by the Board on 10 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Relate Shopfitters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Relate Shopfitters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 15).

 

Relate Shopfitters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 August 2023

10,383

125,881

136,264

At 31 July 2024

10,383

125,881

136,264

Depreciation

At 1 August 2023

8,536

75,815

84,351

Charge for the year

462

12,519

12,981

At 31 July 2024

8,998

88,334

97,332

Carrying amount

At 31 July 2024

1,385

37,547

38,932

At 31 July 2023

1,847

50,066

51,913

5

Debtors

Current

2024
£

2023
£

Trade debtors

168,773

66,122

Other debtors

7,453

4,659

 

176,226

70,781

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

31,638

31,839

Trade creditors

 

11,401

9,491

Taxation and social security

 

80,266

42,063

Accruals and deferred income

 

7,253

9,725

Other creditors

 

33,298

11,263

 

163,856

104,381

 

Relate Shopfitters Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

26,672

58,311

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

11,666

21,667

Hire purchase contracts

15,006

36,644

26,672

58,311

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,000

10,000

Hire purchase contracts

21,638

21,839

31,638

31,839