Silverfin false false 30/09/2024 01/10/2023 30/09/2024 Mr K Richards 29/11/2016 19 June 2025 The principal activity of the Company during the financial year was the sale of building supplies. 10502261 2024-09-30 10502261 bus:Director1 2024-09-30 10502261 2023-09-30 10502261 core:CurrentFinancialInstruments 2024-09-30 10502261 core:CurrentFinancialInstruments 2023-09-30 10502261 core:Non-currentFinancialInstruments 2024-09-30 10502261 core:Non-currentFinancialInstruments 2023-09-30 10502261 core:ShareCapital 2024-09-30 10502261 core:ShareCapital 2023-09-30 10502261 core:RevaluationReserve 2024-09-30 10502261 core:RevaluationReserve 2023-09-30 10502261 core:RetainedEarningsAccumulatedLosses 2024-09-30 10502261 core:RetainedEarningsAccumulatedLosses 2023-09-30 10502261 core:Goodwill 2023-09-30 10502261 core:Goodwill 2024-09-30 10502261 core:LandBuildings 2023-09-30 10502261 core:PlantMachinery 2023-09-30 10502261 core:FurnitureFittings 2023-09-30 10502261 core:LandBuildings 2024-09-30 10502261 core:PlantMachinery 2024-09-30 10502261 core:FurnitureFittings 2024-09-30 10502261 core:CurrentFinancialInstruments core:Secured 2024-09-30 10502261 core:MoreThanFiveYears 2024-09-30 10502261 core:MoreThanFiveYears 2023-09-30 10502261 bus:OrdinaryShareClass1 2024-09-30 10502261 2023-10-01 2024-09-30 10502261 bus:FilletedAccounts 2023-10-01 2024-09-30 10502261 bus:SmallEntities 2023-10-01 2024-09-30 10502261 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 10502261 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 10502261 bus:Director1 2023-10-01 2024-09-30 10502261 core:Goodwill core:TopRangeValue 2023-10-01 2024-09-30 10502261 core:LandBuildings core:TopRangeValue 2023-10-01 2024-09-30 10502261 core:PlantMachinery 2023-10-01 2024-09-30 10502261 core:FurnitureFittings 2023-10-01 2024-09-30 10502261 2022-10-01 2023-09-30 10502261 core:Goodwill 2023-10-01 2024-09-30 10502261 core:LandBuildings 2023-10-01 2024-09-30 10502261 core:MoreThanFiveYears 2023-10-01 2024-09-30 10502261 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 10502261 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10502261 (England and Wales)

RICHARDS BUILDERS MERCHANTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

RICHARDS BUILDERS MERCHANTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

RICHARDS BUILDERS MERCHANTS LIMITED

BALANCE SHEET

As at 30 September 2024
RICHARDS BUILDERS MERCHANTS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 36,200 48,978
Tangible assets 4 1,508,217 707,610
1,544,417 756,588
Current assets
Stocks 315,395 277,726
Debtors 5 167,101 179,800
Cash at bank and in hand 132,541 662,830
615,037 1,120,356
Creditors: amounts falling due within one year 6 ( 250,325) ( 316,280)
Net current assets 364,712 804,076
Total assets less current liabilities 1,909,129 1,560,664
Creditors: amounts falling due after more than one year 7 ( 760,160) ( 399,170)
Provision for liabilities ( 50,389) ( 29,920)
Net assets 1,098,580 1,131,574
Capital and reserves
Called-up share capital 8 1 1
Revaluation reserve 34,283 35,284
Profit and loss account 1,064,296 1,096,289
Total shareholder's funds 1,098,580 1,131,574

For the financial year ending 30 September 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 financial statements of Richards Builders Merchants Limited (registered number: 10502261) were approved and authorised for issue by the Director on 19 June 2025. They were signed on its behalf by:

Mr K Richards
Director
RICHARDS BUILDERS MERCHANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
RICHARDS BUILDERS MERCHANTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Richards Builders Merchants Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark LLP, Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is The Stores, Doublebois, Liskeard, Cornwall, PL14 6LD.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 10 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life, as detailed below. Land is not depreciated.

Land and buildings 50 years straight line
Plant and machinery 25 % reducing balance
Fixtures and fittings 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 20 19

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 October 2023 127,776 127,776
At 30 September 2024 127,776 127,776
Accumulated amortisation
At 01 October 2023 78,798 78,798
Charge for the financial year 12,778 12,778
At 30 September 2024 91,576 91,576
Net book value
At 30 September 2024 36,200 36,200
At 30 September 2023 48,978 48,978

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Total
£ £ £ £
Cost
At 01 October 2023 643,536 291,727 34,461 969,724
Additions 870,622 112,833 42,729 1,026,184
Disposals ( 167,536) ( 10,000) 0 ( 177,536)
At 30 September 2024 1,346,622 394,560 77,190 1,818,372
Accumulated depreciation
At 01 October 2023 55,605 186,559 19,950 262,114
Charge for the financial year 7,941 51,983 14,309 74,233
Disposals ( 16,755) ( 9,437) 0 ( 26,192)
At 30 September 2024 46,791 229,105 34,259 310,155
Net book value
At 30 September 2024 1,299,831 165,455 42,931 1,508,217
At 30 September 2023 587,931 105,168 14,511 707,610

5. Debtors

2024 2023
£ £
Trade debtors 138,339 170,482
Prepayments 10,222 9,218
Corporation tax 18,440 0
Other debtors 100 100
167,101 179,800

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans (secured) 43,200 29,100
Trade creditors 108,235 133,192
Amounts owed to director 3,575 9,910
Taxation and social security 48,298 108,630
Obligations under finance leases and hire purchase contracts (secured) 18,029 26,912
Other creditors 28,988 8,536
250,325 316,280

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans (secured) 524,496 189,726
Obligations under finance leases and hire purchase contracts (secured) 35,664 9,444
Other creditors 200,000 200,000
760,160 399,170

Amounts repayable after more than 5 years are included in creditors falling due over one year:

2024 2023
£ £
Bank loans (secured / repayable by instalments) 351,696 73,326

Bank loans are secured by way of fixed and floating charges inclusive of a negative pledge, held over property and undertaking of the company.

Hire purchase liabilities are secured against the assets to which they relate.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1