Company No:
Contents
| Note | 30.09.2024 | 30.09.2023 | ||
| £ | £ | |||
| Current assets | ||||
| Stocks |
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| Debtors | 3 |
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| Cash at bank and in hand |
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| 985,409 | 708,492 | |||
| Creditors: amounts falling due within one year | 4 | (
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(
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| Net current liabilities | (9,225) | (4,794) | ||
| Total assets less current liabilities | (9,225) | (4,794) | ||
| Net liabilities | (
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(
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| Capital and reserves | ||||
| Called-up share capital | 5 |
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| Profit and loss account | (
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(
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| Total shareholders' deficit | (
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Directors' responsibilities:
The financial statements of RS Aylesbeare Ltd (registered number:
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Jeremy Paul Blake Rihll
Director |
Jeffrey Slade
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.
RS Aylesbeare Ltd (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 Lorams Village Lane, Perkins Village, Exeter, EX5 2JG, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £12,819. The Company is supported through loans from the directors and shareholders. The directors and shareholders have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors and shareholders will continue to support the Company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The prior period length was shortened to a 6 month period ending 30 September 2023 to align with companies under common control. The prior period figures are therefore not entirely comparable with the current year.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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 Statement of Financial Position 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 current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
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.
| Year ended 30.09.2024 |
Period from 01.01.2023 to 30.09.2023 |
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| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
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| 30.09.2024 | 30.09.2023 | ||
| £ | £ | ||
| VAT recoverable |
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| 30.09.2024 | 30.09.2023 | ||
| £ | £ | ||
| Trade creditors |
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| Amounts owed to directors |
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| Accruals |
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| Other creditors |
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| 30.09.2024 | 30.09.2023 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with owners holding a participating interest in the entity
| 30.09.2024 | 30.09.2023 | ||
| £ | £ | ||
| Amounts owed to companies under common control | (987,652) | (708,966) |
Transactions with the entity's directors
| 30.09.2024 | 30.09.2023 | ||
| £ | £ | ||
| Amounts owed to directors | 0 | 60 |
The above balance represents amounts owed to the directors by the Company. No interest is charged on the amount and there are no fixed repayment terms.