R N C Patterns Limited 09035874 false 2023-06-01 2024-10-31 2024-10-31 The principal activity of the company is pattern making. Digita Accounts Production Advanced 6.30.9574.0 true 09035874 2023-06-01 2024-10-31 09035874 2024-10-31 09035874 core:RetainedEarningsAccumulatedLosses 2024-10-31 09035874 core:ShareCapital 2024-10-31 09035874 core:CurrentFinancialInstruments 2024-10-31 09035874 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 09035874 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 09035874 core:Goodwill 2024-10-31 09035874 core:MotorVehicles 2024-10-31 09035874 core:OfficeEquipment 2024-10-31 09035874 core:PlantMachinery 2024-10-31 09035874 bus:SmallEntities 2023-06-01 2024-10-31 09035874 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-10-31 09035874 bus:FilletedAccounts 2023-06-01 2024-10-31 09035874 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-10-31 09035874 bus:Director1 2023-06-01 2024-10-31 09035874 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-10-31 09035874 core:Goodwill 2023-06-01 2024-10-31 09035874 core:MotorVehicles 2023-06-01 2024-10-31 09035874 core:OfficeEquipment 2023-06-01 2024-10-31 09035874 core:PlantMachinery 2023-06-01 2024-10-31 09035874 countries:AllCountries 2023-06-01 2024-10-31 09035874 2023-05-31 09035874 core:Goodwill 2023-05-31 09035874 core:MotorVehicles 2023-05-31 09035874 core:OfficeEquipment 2023-05-31 09035874 core:PlantMachinery 2023-05-31 09035874 2022-06-01 2023-05-31 09035874 2023-05-31 09035874 core:RetainedEarningsAccumulatedLosses 2023-05-31 09035874 core:ShareCapital 2023-05-31 09035874 core:CurrentFinancialInstruments 2023-05-31 09035874 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 09035874 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 09035874 core:Goodwill 2023-05-31 09035874 core:MotorVehicles 2023-05-31 09035874 core:OfficeEquipment 2023-05-31 09035874 core:PlantMachinery 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 09035874

R N C Patterns Limited

Unaudited Financial Statements

for the Period from 1 June 2023 to 31 October 2024

 

R N C Patterns Limited

(Registration number: 09035874)

Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

-

12,648

Tangible assets

4

-

15,607

 

-

28,255

Current assets

 

Stocks

-

34,000

Debtors

5

1,568

51,135

Cash at bank and in hand

 

4,476

11,607

 

6,044

96,742

Creditors: Amounts falling due within one year

6

(36,139)

(106,865)

Net current liabilities

 

(30,095)

(10,123)

Total assets less current liabilities

 

(30,095)

18,132

Creditors: Amounts falling due after more than one year

6

-

(5,025)

Provisions for liabilities

-

(3,902)

Net (liabilities)/assets

 

(30,095)

9,205

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(30,195)

9,105

Shareholders' (deficit)/funds

 

(30,095)

9,205

 

R N C Patterns Limited

(Registration number: 09035874)

Balance Sheet as at 31 October 2024 (continued)

For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

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

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 21 January 2025
 

.........................................

Mr Richard Clarke

Director

 

R N C Patterns Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024

1

Accounting policies

Statutory information

R N C Patterns Limited is a private company, limited by shares, domiciled in England and Wales, company number 09035874. The registered office is at Unit C1 Armthorpe Enterprise Park Rands Lane, Armthorpe, , Doncaster, DN3 3DY.

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 were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

These financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

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

 

R N C Patterns Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)

1

Accounting policies (continued)

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Unrelieved tax losses and other deferred tax assets shall be 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.

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

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

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.

Stocks

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

R N C Patterns Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)

1

Accounting policies (continued)

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2023 - 2).

 

R N C Patterns Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)

3

Intangible assets

Goodwill
 £

Total
£

Cost

At 1 June 2023

125,652

125,652

At 31 October 2024

125,652

125,652

Amortisation

At 1 June 2023

113,004

113,004

Amortisation charge

12,648

12,648

At 31 October 2024

125,652

125,652

Carrying amount

At 31 October 2024

-

-

At 31 May 2023

12,648

12,648

4

Tangible assets

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost

At 1 June 2023

20,366

1,882

20,450

42,698

Disposals

(20,366)

(1,882)

(20,450)

(42,698)

At 31 October 2024

-

-

-

-

Depreciation

At 1 June 2023

18,806

1,336

6,949

27,091

Charge for the period

553

193

3,656

4,402

Eliminated on disposal

(19,359)

(1,529)

(10,605)

(31,493)

At 31 October 2024

-

-

-

-

Carrying amount

At 31 October 2024

-

-

-

-

At 31 May 2023

1,560

546

13,501

15,607

 

R N C Patterns Limited

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)

5

Debtors

Current

31 October
2024
£

31 May
2023
£

Trade debtors

37

50,888

Prepayments

-

247

Other debtors

1,531

-

 

1,568

51,135

6

Creditors

Creditors: amounts falling due within one year

31 October 2024
 £

31 May
2023
£

Due within one year

HP and finance lease liability

-

4,940

Trade creditors

-

24,824

Social security and other taxes

3,809

10,021

Outstanding defined contribution pension costs

-

210

Accrued expenses

2,018

2,112

Directors current account

30,312

63,227

Corporation tax

-

1,531

36,139

106,865

Due after one year

HP and finance lease liability

-

5,025


Obligations under HP and finance lease liability contracts of £NIL (2023 - £9,965) are secured against the assets concerned.