Registration number:
Ratcliffe Carpentry & Building Ltd
for the
Year Ended 31 August 2025
Ratcliffe Carpentry & Building Ltd
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ratcliffe Carpentry & Building Ltd
Balance Sheet
as at 31 August 2025
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2025 |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Allotted, called up and fully paid share capital |
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Profit and loss account |
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Shareholders' funds |
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Registration number: 12150707
Ratcliffe Carpentry & Building Ltd
Balance Sheet
as at 31 August 2025 (continued)
For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
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General information |
The company is a private company limited by shares incorporated in England within the United Kingdom.
The company's registration number is 12150707.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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2 |
Accounting policies (continued) |
Contract revenue recognition
In relation to long term building contracts the company recognises revenue based on the stage of completion of the project where a profit is expected to be realised.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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2 |
Accounting policies (continued) |
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Improvements to leasehold property |
10% per annum on a straight line basis |
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Plant and machinery |
10% per annum on a reducing balance basis |
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Motor vehicles |
20% per annum on a reducing balance basis |
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Fixtures, fittings and equipment |
20% per annum on a reducing balance basis |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
20% per annum on a straight line basis |
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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2 |
Accounting policies (continued) |
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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Staff numbers |
The average number of persons employed by the company (including directors) during the year was
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 September 2024 |
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At 31 August 2025 |
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Amortisation |
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At 1 September 2024 |
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Amortisation charge |
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At 31 August 2025 |
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Net book value: |
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At 31 August 2025 |
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At 31 August 2024 |
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Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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Tangible assets |
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Improvements to leasehold property |
Motor vehicles |
Plant and equipment |
Total |
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Cost |
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At 1 September 2024 |
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Additions |
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- |
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Disposals |
- |
- |
( |
( |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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Eliminated on disposal |
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- |
( |
( |
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At 31 August 2025 |
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Net book value |
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At 31 August 2025 |
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At 31 August 2024 |
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Debtors |
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Current |
2025 |
2024 |
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Trade debtors |
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Prepayments |
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Other debtors |
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Ratcliffe Carpentry & Building Ltd
Notes to the Unaudited Financial Statements
for the
Year Ended 31 August 2025
(continued)
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Creditors |
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2025 |
2024 |
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Due within one year |
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Trade creditors |
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Loans and borrowings |
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Taxation and social security |
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Corporation tax liability |
2,393 |
- |
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Accruals and deferred income |
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Other creditors |
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Directors loan accounts |
64,477 |
67,769 |
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Due after one year |
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Bank loans and overdrafts |
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