Registration number:
R N C Patterns Limited
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 |
- |
|
|
Tangible assets |
- |
|
|
- |
|
||
Current assets |
|||
Stocks |
- |
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Total assets less current liabilities |
( |
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Provisions for liabilities |
- |
( |
|
Net (liabilities)/assets |
( |
|
|
Capital and reserves |
|||
Called up share capital |
|
|
|
Retained earnings |
( |
|
|
Shareholders' (deficit)/funds |
( |
|
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 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.
.........................................
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
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
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
R N C Patterns Limited
Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)
Intangible assets |
Goodwill |
Total |
|
Cost |
||
At 1 June 2023 |
|
|
At 31 October 2024 |
|
|
Amortisation |
||
At 1 June 2023 |
|
|
Amortisation charge |
|
|
At 31 October 2024 |
|
|
Carrying amount |
||
At 31 October 2024 |
- |
- |
At 31 May 2023 |
|
|
Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
|
Cost |
||||
At 1 June 2023 |
|
|
|
|
Disposals |
( |
( |
( |
( |
At 31 October 2024 |
- |
- |
- |
- |
Depreciation |
||||
At 1 June 2023 |
|
|
|
|
Charge for the period |
|
|
|
|
Eliminated on disposal |
( |
( |
( |
( |
At 31 October 2024 |
- |
- |
- |
- |
Carrying amount |
||||
At 31 October 2024 |
- |
- |
- |
- |
At 31 May 2023 |
|
|
|
|
R N C Patterns Limited
Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 31 October 2024 (continued)
Debtors |
Current |
31 October |
31 May |
Trade debtors |
|
|
Prepayments |
- |
|
Other debtors |
|
- |
|
|
Creditors |
Creditors: amounts falling due within one year
31 October 2024 |
31 May |
|
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 |
|
2,112 |
Directors current account |
|
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.