General Information
RUBBER & METAL FABRICATIONS (GRAYS) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01257184, registration address 1 St Peter's Road, Braintree, Essex, CM7 9AN.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, Section 1A The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by fair value adjustments to the investment properties.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration for rent receivable for the year.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Fixtures and equipment |
20% Reducing Balance
|
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties are recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the year in which they arise.
Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
|
| 2. |
Average number of employees
Average number of employees during the year was 3 (2025 : 3).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Fixtures and equipment |
|
Investment properties |
|
Total |
| |
£ |
|
£ |
|
£ |
| At 01 March 2025 |
3,510 |
|
510,000 |
|
513,510 |
| Additions |
- |
|
- |
|
- |
| Disposals |
(3,510) |
|
(510,000) |
|
(513,510) |
| At 28 February 2026 |
- |
|
- |
|
- |
| Depreciation |
| At 01 March 2025 |
3,471 |
|
- |
|
3,471 |
| Charge for year |
8 |
|
- |
|
8 |
| On disposals |
(3,479) |
|
- |
|
(3,479) |
| At 28 February 2026 |
- |
|
- |
|
- |
| Net book values |
| Closing balance as at 28 February 2026 |
- |
|
- |
|
- |
| Opening balance as at 01 March 2025 |
39 |
|
510,000 |
|
510,039 |
|
| 4. |
Debtors: amounts falling due within one year
|
2026
£ |
|
2025
£ |
| Trade Debtors |
0 |
|
950 |
| Other Debtors |
0 |
|
1,230 |
|
0 |
|
2,180 |
|
| 5. |
Creditors: amount falling due within one year
|
2026
£ |
|
2025
£ |
| Corporation Tax |
43,069 |
|
3,353 |
| Other Creditors |
163,556 |
|
17,442 |
|
206,625 |
|
20,795 |
|
| 6. |
Provisions for liabilities
|
2026
£ |
|
2025
£ |
| Deferred Tax |
0 |
|
97,504 |
|
0 |
|
97,504 |
The above provision relates to fair value adjustments to the investment property.
|
| 7. |
Share Capital
Allotted, called up and fully paid
|
2026
£ |
|
2025
£ |
|
100
Ordinary shares of £1.00 each |
100 |
|
100 |
|
100 |
|
100 |
|
| 8. |
General Reserves
|
2026
£ |
|
2025
£ |
| Profit and loss account undistributable |
349,957 |
|
349,957 |
| Transfer to profit and loss account |
(349,957) |
|
0 |
|
0 |
|
349,957 |
|
| 9. |
Controlling Parties
The company's ultimate controlling party is the directors by virtue or their interest in the share capital of the company.
|
2
|