Rawlings Electrical Limited,Ltd - AccountsLtd - Accounts

Rawlings Electrical Limited,Ltd - AccountsLtd - Accounts

RAWLINGS ELECTRICAL LIMITED - Company Information

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2018-04-01 07587973 2019-03-31 07587973 2018-04-01 2019-03-31 07587973 2018-03-31 07587973 2017-04-01 2018-03-31 07587973 uk-core:WithinOneYear 2018-03-31 07587973 uk-core:WithinOneYear 2019-03-31 07587973 uk-core:AfterOneYear 2018-03-31 07587973 uk-core:AfterOneYear 2019-03-31 07587973 uk-core:ShareCapital 2019-03-31 07587973 uk-core:ShareCapital 2018-03-31 07587973 uk-core:RetainedEarningsAccumulatedLosses 2019-03-31 07587973 uk-core:RetainedEarningsAccumulatedLosses 2018-03-31 07587973 uk-bus:Director1 2018-04-01 2019-03-31 07587973 uk-bus:Director2 2018-04-01 2019-03-31 07587973 uk-core:NetGoodwill 2018-04-01 2019-03-31 07587973 uk-core:ToolsEquipment 2018-04-01 2019-03-31 07587973 uk-core:Vehicles 2018-04-01 2019-03-31 07587973 uk-core:OfficeEquipment 2018-04-01 2019-03-31 07587973 uk-core:Goodwill 2018-03-31 07587973 uk-core:Goodwill 2019-03-31 07587973 uk-core:Goodwill 2018-04-01 2019-03-31 07587973 uk-core:OfficeEquipment 2018-03-31 07587973 uk-core:Vehicles 2018-03-31 07587973 uk-core:ToolsEquipment 2018-03-31 07587973 uk-core:ToolsEquipment 2019-03-31 07587973 uk-core:Vehicles 2019-03-31 07587973 uk-core:OfficeEquipment 2019-03-31 iso4217:GBP xbrli:pure 07587973 uk-bus:AuditExemptWithAccountantsReport 2018-04-01 2019-03-31 07587973 uk-bus:FRS102 2018-04-01 2019-03-31 07587973 uk-bus:FullAccounts 2018-04-01 2019-03-31 07587973 uk-bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31
Rawlings Electrical Limited
Registered Number:07587973
For the year ended 31 March 2019
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2019
Rawlings Electrical Limited
Contents Page
1
Statement of Financial Position
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Notes to the Financial Statements
3
As at 31 March 2019
Rawlings Electrical Limited
Statement of Financial Position
Registered Number :
07587973
£
£
2018
2019
Notes
Fixed assets
Intangible assets
1,500
2,000
2
Property, plant and equipment
8,094
10,750
3
9,594
12,750
Current assets
Inventories
3,021
3,571
4
Trade and other receivables
12,269
10,028
5
413
Cash and cash equivalents
535
14,134
15,703
Trade and other payables: amounts falling due within one year
(5,807)
(8,496)
6
9,896
5,638
Net current assets
Total assets less current liabilities
15,232
22,646
Trade and other payables: amounts falling due after more than one
year
(10,700)
(8,300)
7
(2,656)
(2,042)
Provisions for liabilities
4,276
Net assets
9,904
Capital and reserves
Called up share capital
10
10
Retained earnings
4,266
9,894
4,276
9,904
Shareholders' funds
For the year ended 31 March 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
For the year ended 31 March 2019
Rawlings Electrical Limited
Statement of Financial Position Continued
Mr Michael John Rawlings Director
Mrs Laura Jane Rawlings Director
These financial statements were approved and authorised for issue by the Board on 07 August 2019 and were signed by:
The notes form part of these financial statements
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5
For the year ended 31 March 2019
Rawlings Electrical Limited
Notes to the Financial Statements
Statutory Information
Rawlings Electrical Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
07587973.
Registered address:
20 Breck Close
Great Oakley
Corby
Northants
NNN17 1NN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard
102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The
financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, 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:
Tools & equipment
20 Reducing balance
25 Reducing balance
Motor vehicles
20 Reducing balance
Office equipment
Inventories
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
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6
For the year ended 31 March 2019
Rawlings Electrical Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2018
5,000
At 31 March 2019
5,000
Amortisation
At 01 April 2018
3,000
500
Charge for year
At 31 March 2019
3,500
Net book value
At 31 March 2019
1,500
At 31 March 2018
2,000
Goodwill is being written off over 10 years.
3. Property, plant and equipment
Total
Office
equipment
Motor vehicles
Tools &
equipment
£
£
£
£
Cost or valuation
At 01 April 2018
16,430
680
13,500
2,250
At 31 March 2019
2,250
13,500
680
16,430
Provision for depreciation and impairment
At 01 April 2018
5,680
527
3,375
1,778
Charge for year
2,656
31
2,531
94
At 31 March 2019
8,336
558
5,906
1,872
At 31 March 2019
Net book value
378
7,594
122
8,094
At 31 March 2018
472
10,125
153
10,750
4. Inventories
2018
2019
£
£
Stocks
3,571
3,021
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For the year ended 31 March 2019
Rawlings Electrical Limited
Notes to the Financial Statements Continued
5. Trade and other receivables
2018
2019
£
£
Other debtors
10,028
12,269
6. Trade and other payables: amounts falling due within one year
2018
2019
£
£
Trade creditors
160
219
Taxation and social security
4,256
1,508
Accruals and deferred income
1,680
1,680
Other creditors
2,400
2,400
8,496
5,807
7. Trade and other payables: amounts falling due after more than one year
2018
2019
£
£
Other creditors
8,300
10,700
8. Related party transactions
The company paid the following dividends to the directors of £20000 during the year.
9. Guarantees and other financial commitments
Capital commitments
There were no commitments for future capital expenditure at the balance sheet date.
10. Subsequent events
No post balance sheet events have occurred since 31 March 2019, which require reporting or disclosing in the accounts.
11. Average number of persons employed
During the year the average number of employees (including director) was 1 (2018 : 1)
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