REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
R&W CONSTRUCTION LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
FOR |
R&W CONSTRUCTION LTD |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 29 FEBRUARY 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
R&W CONSTRUCTION LTD |
COMPANY INFORMATION |
for the year ended 29 FEBRUARY 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
STATEMENT OF FINANCIAL POSITION |
29 FEBRUARY 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
The directors acknowledge their 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. |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
STATEMENT OF FINANCIAL POSITION - continued |
29 FEBRUARY 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 29 FEBRUARY 2024 |
1. | STATUTORY INFORMATION |
R&W Construction Ltd is a private company, limited by shares, registered in Scotland, registration number SC470391. The registered office is 39 Torbracken, Howwood, PA9 1DX. |
The principal activity of the company is construction services. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The presentational and functional currency of the financial statements is Pounds Sterling (£). |
Going concern |
These financial statements have been prepared on the going concern basis despite the fact that Statement of Financial Position is showing a net current liability position of the Company. After reviewing the company's forecasts and projections, together with the continued support from shareholders and investors, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements |
Significant judgements and estimates |
In preparing these financial statements, the directors are required to make judgements, estimates and assumptions that affect the application of the Company's accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. |
There are no significant judgements or estimates used in the preparation of these accounts. |
Turnover |
Turnover is measured at the fair value of work done in the year, excluding value added tax. |
Services |
Income from construction services is recognised when performed. |
Tangible fixed assets |
Plant and machinery etc | - |
The carrying values of tangible fixed assets are reviewed for impairment if events or changes in circumstances indicate the carrying values may not be reasonable. |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 29 FEBRUARY 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Debtors |
Short term debtors are measured at transaction price, less any impairment. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash balances, including bank overdrafts that are payable on demand and form an integral part of the company's cash management. |
Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Provisions |
Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the liability. The unwinding of the discount is recognised as finance cost. |
Taxation |
Taxation for the year comprises current only. 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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2023 |
and 29 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 29 February 2024 |
NET BOOK VALUE |
At 29 February 2024 |
At 28 February 2023 |
R&W CONSTRUCTION LTD (REGISTERED NUMBER: SC470391) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 29 FEBRUARY 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |