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REGISTERED NUMBER: 01635838 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

RIGHTON INSULATION SERVICES LIMITED

RIGHTON INSULATION SERVICES LIMITED (REGISTERED NUMBER: 01635838)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


RIGHTON INSULATION SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTOR: Lisa Mary Auld





REGISTERED OFFICE: Unit 122 Clydesdale Place
Moss Side Industrial Estate
Leyland
Lancashire
PR26 7QS





REGISTERED NUMBER: 01635838 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

RIGHTON INSULATION SERVICES LIMITED (REGISTERED NUMBER: 01635838)

BALANCE SHEET
31 MAY 2024

31/5/24 31/5/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 48,011 62,827

CURRENT ASSETS
Stocks 16,676 16,676
Debtors 5 846,595 825,997
Cash at bank and in hand 234,750 74,582
1,098,021 917,255
CREDITORS
Amounts falling due within one year 6 636,582 538,010
NET CURRENT ASSETS 461,439 379,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

509,450

442,072

PROVISIONS FOR LIABILITIES 7 1,308 2,927
NET ASSETS 508,142 439,145

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 508,042 439,045
SHAREHOLDERS' FUNDS 508,142 439,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 January 2025 and were signed by:



Lisa Mary Auld - Director


RIGHTON INSULATION SERVICES LIMITED (REGISTERED NUMBER: 01635838)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Righton Insulation Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Over 5 years
Plant and machinery - 10% on reducing balance
Motor vehicles - 33% on reducing balance

The Company renewed its property lease in February 2014 for a period of 5 years. As such, the Director resolved to depreciate the Leasehold Property Alterations over the period of the lease.

Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


RIGHTON INSULATION SERVICES LIMITED (REGISTERED NUMBER: 01635838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences 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 tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The Director believes that the company has sufficient trade and financial resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. TANGIBLE FIXED ASSETS
Long Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 June 2023 38,919 164,535 109,726 313,180
Additions 2,662 733 - 3,395
At 31 May 2024 41,581 165,268 109,726 316,575
DEPRECIATION
At 1 June 2023 38,919 153,332 58,102 250,353
Charge for year - 1,175 17,036 18,211
At 31 May 2024 38,919 154,507 75,138 268,564
NET BOOK VALUE
At 31 May 2024 2,662 10,761 34,588 48,011
At 31 May 2023 - 11,203 51,624 62,827

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade debtors 781,368 757,296
Other debtors 43,527 30,359
VAT 21,700 38,342
846,595 825,997

RIGHTON INSULATION SERVICES LIMITED (REGISTERED NUMBER: 01635838)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Trade creditors 509,114 397,523
Tax 39,212 65,732
Social security and other taxes 18,115 17,218
Other creditors 69,915 57,503
Directors' current accounts 226 34
636,582 538,010

7. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
£    £   
Deferred tax 1,308 2,927

Deferred
tax
£   
Balance at 1 June 2023 2,927
Credit to Income Statement during year (1,619 )
Balance at 31 May 2024 1,308