R&B CNC Ltd
Registered number: 13228445
Statement of Financial Position
as at 28 February 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 18,671 24,979
Current assets
Stocks 120,000 80,000
Debtors 4 83,510 73,419
Cash at bank and in hand 154,826 105,426
358,336 258,845
Creditors: amounts falling due within one year 5 (74,917) (61,591)
Net current assets 283,419 197,254
Total assets less current liabilities 302,090 222,233
Provisions for liabilities (4,668) (4,279)
Net assets 297,422 217,954
Capital and reserves
Called up share capital 100 100
Profit and loss account 297,322 217,854
Shareholders' funds 297,422 217,954
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Stephen Robertson
Director
Approved by the board on 23 May 2025
R&B CNC Ltd
Notes to the Accounts
for the year ended 28 February 2025
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Inventories
Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Employees and directors 2025 2024
Number Number
Average number of directors and persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 March 2024 82,607
Additions 2,374
At 28 February 2025 84,981
Depreciation
At 1 March 2024 57,628
Charge for the year 8,682
At 28 February 2025 66,310
Net book value
At 28 February 2025 18,671
At 29 February 2024 24,979
4 Debtors 2025 2024
£ £
Trade debtors 83,510 71,817
Other debtors - 1,602
83,510 73,419
5 Creditors: amounts falling due within one year 2025 2024
£ £
Obligations under finance lease and hire purchase contracts - 2,458
Trade creditors 239 54
Accruals 1,230 1,170
Corporation tax 70,569 43,315
Other taxes and social security costs 2,879 14,594
74,917 61,591
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Stephen Robertson
Repayable on demand 618 - 618 -
Simon Busby
Repayable on demand 984 - 984 -
1,602 - 1,602 -
7 Other information
R&B CNC Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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