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Registration number: 03811809

R.D.A. Trading (Lancashire) Ltd
Annual Report and
Unaudited Financial Statements

31 August 2024

 

R.D.A. Trading (Lancashire) Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

R.D.A. Trading (Lancashire) Ltd

Balance Sheet
31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

500

8,334

Investment property

5

910,641

910,641

 

911,141

918,975

Current assets

 

Debtors

6

3,493

1,170

Cash at bank and in hand

 

57,023

71,790

 

60,516

72,960

Creditors: Amounts falling due within one year

7

(90,835)

(97,691)

Net current liabilities

 

(30,319)

(24,731)

Total assets less current liabilities

 

880,822

894,244

Creditors: Amounts falling due after more than one year

7

(18,405)

(49,870)

Provisions for liabilities

(4,298)

(4,298)

Net assets

 

858,119

840,076

Capital and reserves

 

Called up share capital

100

100

Retained earnings

858,019

839,976

Shareholders' funds

 

858,119

840,076

 

R.D.A. Trading (Lancashire) Ltd

Balance Sheet
31 August 2024

For the financial year ending 31 August 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 members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 May 2025
 

.........................................
R D Hutchinson
Director

Company Registration Number: 03811809

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

1

General information

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

The address of its registered office is:
Tower House
269 Walmersley Road
Bury
Lancashire
BL9 6NX

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

Tax

The tax expense for the period comprises current 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.

Tangible assets

Tangible assets are stated in the balance sheet 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

Freehold Property

2% straight line

Motor Vehicles

25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

Trade 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.

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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

3

Staff numbers

The average number of persons employed by the Company (including the Director) during the year, was 3 (2023 - 3).

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

534

57,144

57,678

At 31 August 2024

534

57,144

57,678

Depreciation

At 1 September 2023

534

48,810

49,344

Charge for the year

-

7,834

7,834

At 31 August 2024

534

56,644

57,178

Carrying amount

At 31 August 2024

-

500

500

At 31 August 2023

-

8,334

8,334

5

Investment properties

2024
£

At 1 September

910,641

At 31 August

910,641

6

Debtors

2024
£

2023
£

Other debtors

2,400

-

Prepayments

1,093

1,170

3,493

1,170

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

33,122

10,846

Taxation and social security

 

30,072

29,540

Accruals and deferred income

 

2,141

1,956

Other creditors

 

25,500

55,349

 

90,835

97,691

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

18,405

49,870

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

27,883

Other borrowings

18,405

21,987

18,405

49,870

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

29,168

6,581

Other borrowings

3,954

4,265

33,122

10,846

 

R.D.A. Trading (Lancashire) Ltd

Notes to the Unaudited Financial Statements
Year Ended 31 August 2024

9

Related party transactions

Director's remuneration

The directors are remunerated by the company. The directors consider that their remuneration meets the criteria of being under normal market conditions.

10

Parent and ultimate parent undertaking

The ultimate controlling party is R D Hutchinson.