REGISTERED NUMBER: 06817009 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

R F OLD (NEWQUAY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R F Old

Mrs J K Old

REGISTERED OFFICE:

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

REGISTERED NUMBER:

06817009 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

254,165

255,325

CURRENT ASSETS

Stocks

9,712

6,960

Debtors

5

88,148

59,186

Cash at bank

111,331

106,248

209,191

172,394

CREDITORS

Amounts falling due within one year

6

86,133

75,709

NET CURRENT ASSETS

123,058

96,685

TOTAL ASSETS LESS CURRENT LIABILITIES

377,223

352,010

CREDITORS

Amounts falling due after more than one year

7

(2,450

)

(12,250

)

PROVISIONS FOR LIABILITIES

(4,190

)

(5,085

)

NET ASSETS

370,583

334,675

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

370,483

334,575

SHAREHOLDERS' FUNDS

370,583

334,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2025 and were signed on its behalf by:

R F Old - Director

1.	STATUTORY INFORMATION

R F Old (Newquay) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Turnover is recognised when an invoice is raised for work carried out.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Following the completed construction of the garage, the directors have decided to change the depreciation policy for freehold property for the year ending 28 February 2019, to allow the cost of the asset to be written off over it's estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Office

property

machinery

equipment

£

£

£

COST

At 1 March 2024

255,355

91,040

3,187

Additions

8,631

3,387

150

At 28 February 2025

263,986

94,427

3,337

DEPRECIATION

At 1 March 2024

30,206

68,453

2,190

Charge for year

5,280

6,018

325

At 28 February 2025

35,486

74,471

2,515

NET BOOK VALUE

At 28 February 2025

228,500

19,956

822

At 29 February 2024

225,149

22,587

997

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 March 2024

8,000

5,677

363,259

Additions

-

137

12,305

At 28 February 2025

8,000

5,814

375,564

DEPRECIATION

At 1 March 2024

2,000

5,085

107,934

Charge for year

1,500

342

13,465

At 28 February 2025

3,500

5,427

121,399

NET BOOK VALUE

At 28 February 2025

4,500

387

254,165

At 29 February 2024

6,000

592

255,325

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Trade debtors

7,673

5,102

Other debtors

799

586

Directors' current accounts

56,234

35,840

Corporation tax

17,605

13,977

Prepayments

5,837

3,681

88,148

59,186

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans and overdrafts

9,800

9,800

Trade creditors

16,782

15,294

Corporation tax

35,343

31,251

Social security and other taxes

22,954

17,585

Other creditors

-

494

Accrued expenses

1,254

1,285

86,133

75,709

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

29.2.24

£

£

Bank loans - 1-5 years

2,450

12,250

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

£

R F Old and Mrs J K Old

Balance outstanding at start of year

35,840

45,222

Amounts advanced

120,491

67,124

Amounts repaid

(100,098

)

(76,506

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

56,233

35,840

9.	ULTIMATE CONTROLLING PARTY

During the year, the company was controlled by Mr R F Old by virtue of the fact that he owns 80% of the company's issued Ordinary share capital.