Rawfield UK Ltd - Period Ending 2014-06-30

Registration number: 05796589

Rawfield UK Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 January 2014
 

Rawfield UK Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Rawfield UK Ltd
(Registration number: 05796589)
Abbreviated Balance Sheet at 31 January 2014

		Note			2014 £			2013 £
Fixed assets
Intangible fixed assets					14,090			13,635
Tangible fixed assets					599,971			541,489
					614,061			555,124
Current assets
Debtors					734,934			299,111
Cash at bank and in hand					23,389			5,496
					758,323			304,607
Creditors: Amounts falling due within one year					(453,892)			(252,626)
Net current assets					304,431			51,981
Total assets less current liabilities					918,492			607,105
Creditors: Amounts falling due after more than one year					(283,187)			(279,579)
Net assets					635,305			327,526
Capital and reserves
Called up share capital		4			100			100
Share premium account					19,970			19,970
Revaluation reserve					175,000			155,000
Profit and loss account					440,235			152,456
Shareholders' funds					635,305			327,526

For the year ending 31 January 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 14 August 2014

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Rawfield UK Ltd
(Registration number: 05796589)
Abbreviated Balance Sheet at 31 January 2014
......... continued

.........................................
Mr Simon Bentley Rawson
Chairman

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Rawfield UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods, excluding Value Added Tax.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Web Development	25% Straight Line

Depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life. No depreciation is provided in respect of trading premises and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This treatment as regards the company's properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Asset class	Depreciation method and rate
Plant and Machinery	25% on reducing balance
Office Equipment	25% on reducing balance
Motor Vehicles	20% on reducing balance
Land and Buildings	0%

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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Rawfield UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 February 2013		21,401			587,272			608,673
Revaluations		-			20,000			20,000
Additions		5,152			65,648			70,800
Disposals		-			(2,500)			(2,500)
At 31 January 2014		26,553			670,420			696,973
Depreciation
At 1 February 2013		7,766			45,783			53,549
Charge for the year		4,697			24,666			29,363
At 31 January 2014		12,463			70,449			82,912
Net book value
At 31 January 2014		14,090			599,971			614,061
At 31 January 2013		13,635			541,489			555,124

Page 4

Rawfield UK Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 January 2014
......... continued

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Modular Buildings Direct LLP	Designated Member	25%	Modular building sales

The financial period end of Modular Buildings Direct LLP is 31 October 2013.

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		13,767			13,188
Amounts falling due after more than one year		232,679			247,537
Total secured creditors		246,446			260,725

Included in the creditors are the following amounts due after more than five years:

		2014 £			2013 £
After more than five years by instalments		171,300			188,742

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary £1 of £1 each		100			100			100			100

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