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Registration number: 12150707

Ratcliffe Carpentry & Building Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Ratcliffe Carpentry & Building Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Ratcliffe Carpentry & Building Ltd

Balance Sheet

as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

2,400

4,800

Tangible assets

5

102,424

72,596

 

104,824

77,396

Current assets

 

Stocks

174,593

172,072

Debtors

6

33,547

918

Cash at bank and in hand

 

15,174

33,839

 

223,314

206,829

Creditors: Amounts falling due within one year

7

(168,588)

(212,730)

Net current assets/(liabilities)

 

54,726

(5,901)

Total assets less current liabilities

 

159,550

71,495

Creditors: Amounts falling due after more than one year

7

(137,963)

(36,607)

Provisions for liabilities

(14,645)

(10,019)

Net assets

 

6,942

24,869

Capital and reserves

 

Allotted, called up and fully paid share capital

100

100

Profit and loss account

6,842

24,769

Shareholders' funds

 

6,942

24,869

Registration number: 12150707

 

Ratcliffe Carpentry & Building Ltd

Balance Sheet

as at 31 August 2024 (continued)

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.

Directors' 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 directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 28 May 2025 and signed on its behalf by:
 

.........................................
Mr P Ratcliffe
Director

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024

1

General information

The company is a private company limited by shares incorporated in England within the United Kingdom.

The company's registration number is 12150707.

The address of its registered office is:
First Floor
Rosemount House
Huddersfield Road
Elland
West Yorkshire
HX5 0EE

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.

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.

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

Contract revenue recognition

In relation to long term building contracts the company recognises revenue based on the stage of completion of the project where a profit is expected to be realised.

Tax

The tax expense for the period comprises 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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.

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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

Improvements to leasehold property

10% per annum on a straight line basis

Plant and machinery

10% per annum on a reducing balance basis

Motor vehicles

20% per annum on a reducing balance basis

Fixtures, fittings and equipment

20% per annum on a reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20% per annum on a straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

2

Accounting policies (continued)

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 in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

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.

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 8 (2023 - 5).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 September 2023

12,000

12,000

At 31 August 2024

12,000

12,000

Amortisation

At 1 September 2023

7,200

7,200

Amortisation charge

2,400

2,400

At 31 August 2024

9,600

9,600

Net book value:

At 31 August 2024

2,400

2,400

At 31 August 2023

4,800

4,800

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

5

Tangible assets

Improvements to leasehold property
£

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost

At 1 September 2023

11,248

65,011

21,236

97,495

Additions

-

79,753

17,750

97,503

Disposals

-

(49,690)

(9,870)

(59,560)

At 31 August 2024

11,248

95,074

29,116

135,438

Depreciation

At 1 September 2023

1,688

18,974

4,237

24,899

Charge for the year

1,125

15,453

2,730

19,308

Eliminated on disposal

-

(9,780)

(1,413)

(11,193)

At 31 August 2024

2,813

24,647

5,554

33,014

Net book value

At 31 August 2024

8,435

70,427

23,562

102,424

At 31 August 2023

9,560

46,037

16,999

72,596

6

Debtors

Current

2024
£

2023
£

Trade debtors

17,977

96

Prepayments

5,459

822

Other debtors

10,111

-

 

33,547

918

 

Ratcliffe Carpentry & Building Ltd

Notes to the Unaudited Financial Statements

for the Year Ended 31 August 2024 (continued)

7

Creditors

2024
£

2023
£

Due within one year

 

Trade creditors

 

37,999

22,284

Loans and borrowings

42,267

40,180

Taxation and social security

 

14,730

132,978

Accruals and deferred income

 

3,130

2,000

Other creditors

 

2,693

11,625

Directors loan accounts

 

67,769

3,663

 

168,588

212,730

Due after one year

 

Bank loans and overdrafts

137,963

36,607