Richardson Trading Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08530036 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

RICHARDSON TRADING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A D Richardson

M L Richardson

REGISTERED OFFICE:

Suite 3a-3c Meanygate

Bamber Bridge

Preston

Lancashire

PR5 6UP

REGISTERED NUMBER:

08530036 (England and Wales)

ACCOUNTANTS:

d&t

Chartered Accountants

Swatton Barn

Badbury

Swindon

Wiltshire

SN4 0EU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

10,188

2,786

10,188

2,786

CURRENT ASSETS

Debtors

6

54,844

23,649

Cash at bank

16,738

2,412

71,582

26,061

CREDITORS

Amounts falling due within one year

7

51,517

73,681

NET CURRENT ASSETS/(LIABILITIES)

20,065

(47,620

)

TOTAL ASSETS LESS CURRENT LIABILITIES

30,253

(44,834

)

CREDITORS

Amounts falling due after more than one year

8

(33,436

)

-

PROVISIONS FOR LIABILITIES

(1,441

)

-

NET LIABILITIES

(4,624

)

(44,834

)

CAPITAL AND RESERVES

Called up share capital

60

60

Retained earnings

11

(4,684

)

(44,894

)

(4,624

)

(44,834

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 9 August 2019 and were signed on its behalf by:

A D Richardson - Director

1.	STATUTORY INFORMATION

Richardson Trading Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The directors have assessed the company's future projections and cash flow forecasts and believe that

the going concern basis of preparation remains appropriate.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

GOODWILL

Goodwill, being the amount paid in connection with the aquisition of the business has now been fully

amortised over its useful life of 5 years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

TANGIBLE FIXED ASSETS

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

Plant and machinery etc

-

20% straight line basis

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 36 (2017 - 32 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2018

and 31 December 2018

25,258

AMORTISATION

At 1 January 2018

and 31 December 2018

25,258

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2018

650

7,816

8,466

Additions

-

10,803

10,803

At 31 December 2018

650

18,619

19,269

DEPRECIATION

At 1 January 2018

-

5,680

5,680

Charge for year

-

3,401

3,401

At 31 December 2018

-

9,081

9,081

NET BOOK VALUE

At 31 December 2018

650

9,538

10,188

At 31 December 2017

650

2,136

2,786

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

51,160

-

Other debtors

3,684

23,649

54,844

23,649

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

7,593

-

Trade creditors

-

1,890

Taxation and social security

2,826

1,958

Other creditors

41,098

69,833

51,517

73,681

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

33,436

-

9.	LEASING AGREEMENTS

At 31st December 2018, the company had total commitments under non-cancellable operating leases

over the remaining life of those leases of £28,160 (2017: £36,608).

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

41,029

-

11.

RESERVES

Retained

earnings

£

At 1 January 2018

(44,894

)

Profit for the year

40,210

At 31 December 2018

(4,684

)

12.	RELATED PARTY DISCLOSURES

Unless otherwise disclosed, all related party transactions have been conducted under normal market

conditions, including dividend payments to it's shareholders.

13.	GOING CONCERN

The company and the directors are committed to finding a viable solution to support the company's

trading in the future, and on that basis the company is considered a going concern