Registered number
01808138
R and B Road Tank Repairers Ltd
Filleted Accounts
31 October 2024
R and B Road Tank Repairers Ltd
Registered number: 01808138
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,585 2,614
Current assets
Stock and work in progress 8,500 10,500
Debtors 4 147,861 98,378
Cash at bank and in hand 106,606 98,124
262,967 207,002
Creditors: amounts falling due within one year 5 (131,199) (132,270)
Net current assets 131,768 74,732
Net assets 136,353 77,346
Capital and reserves
Called up share capital 4 4
Profit and loss account 136,349 77,342
Shareholders' funds 136,353 77,346
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 and delivered 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.
Mr J Boner
Director
Approved by the board on 25 July 2025
R and B Road Tank Repairers Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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
Stock and Work in Progress
Stocks 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.
Work in progress is valued at the cost of parts installed, plus the mark-up for labour and profit, multiplied by the percentage complete, in accordance with UITF40.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 9
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 78,715
Additions 3,500
At 31 October 2024 82,215
Depreciation
At 1 November 2023 76,101
Charge for the year 1,529
At 31 October 2024 77,630
Net book value
At 31 October 2024 4,585
At 31 October 2023 2,614
4 Debtors 2024 2023
£ £
Trade debtors 92,980 97,890
Prepayments - 488
Directors' loan accounts 54,881 -
147,861 98,378
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 60,840 44,664
Taxation and social security costs 68,689 81,898
Directors' loan accounts - 2,038
Accruals 1,670 3,670
131,199 132,270
During the year, the company made advances to the directors totalling £85,608 (2023 £112,260). During the year ended 31 October 2024, £30,727 was written off as irrecoverable. At the year end, £54,881 was still outstanding. During the year ended 31 October 2023, all advances were repaid in full before the year end. The advances were charged to interest at HM Revenue & Customs' official rate, and were repayable on demand.
6 Related party transactions
The company paid £36,000 (2023 £35,000) to Mr J Boner and Mrs L Boner for the rent of the business premises. Both individuals are directors and shareholders in the company.
7 Other information
R and B Road Tank Repairers Ltd is a private company limited by shares and incorporated in Cardiff. Its registered office is:
12 Lychgate
Higher Walton
Warrington
WA4 6TF
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