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Registration number: 06927378

Richard James Engineering Limited

Filleted Financial Statements

for the Year Ended 31 December 2024

 

Richard James Engineering Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 5

 

Richard James Engineering Limited

(Registration number: 06927378)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

27,802

Current assets

 

Debtors

6

56,482

154,867

Cash at bank and in hand

 

77,854

14,528

 

134,336

169,395

Creditors: Amounts falling due within one year

7

(61,484)

(90,133)

Net current assets

 

72,852

79,262

Total assets less current liabilities

 

72,852

107,064

Provisions for liabilities

-

(6,951)

Net assets

 

72,852

100,113

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

71,852

99,113

Shareholders' funds

 

72,852

100,113

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 16 April 2025 and signed on its behalf by:
 

.........................................
R Marshall ACIB
Director

 

Richard James Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Stanley House
Falkland Way
Barton Upon Humber
DN18 5RL

These financial statements were authorised for issue by the Board on 16 April 2025.

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.

These financial statement cover the individual entity, Richard James Engineering Limited.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Richard James Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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

Motor vehicles

25% straight line

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.

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.

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.

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.

 

Richard James Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

Audit report

The Independent Auditor's Report was unqualified . The name of the Senior Statutory Auditor who signed the audit report on 16 April 2025 was Carrie Anne Jensen ACA, who signed for and on behalf of Forrester Boyd Robson Limited.

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

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 6 (2023 - 6).

These headcount numbers do not include employees who work for related businesses and their costs are recharged at each payroll event.

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,763

8,770

Profit/ (Loss) on disposal of tangible assets

(752)

(22,000)

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

36,068

36,068

Disposals

(36,068)

(36,068)

At 31 December 2024

-

-

Depreciation

At 1 January 2024

8,265

8,265

Charge for the year

6,763

6,763

Eliminated on disposal

(15,028)

(15,028)

At 31 December 2024

-

-

Carrying amount

At 31 December 2024

-

-

At 31 December 2023

27,802

27,802

 

Richard James Engineering Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

22,214

111,030

Prepayments

20,211

21,123

Other debtors

14,057

22,714

 

56,482

154,867

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

11,462

Trade creditors

 

49,068

26,019

Taxation and social security

 

9,666

49,902

Accruals and deferred income

 

2,750

2,750

 

61,484

90,133

8

Parent and ultimate parent undertaking

The Company's immediate parent is Grayton Limited, incorporated in England.

  These financial statements are available upon request from Stanley House, Falkland Way, Barton upon Humber, DN18 5RL.

 

9

Related party transactions

The company has taken advantage of the exemption in section 33 of FRS 102 'Related Party Disclosures' from disclosing transactions with other members of the group in which any subsidiary which is a party to the transaction is wholly owned by the group.