R.T Large (NI) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: NI053219 (Northern Ireland)

R.T LARGE (NI) LTD

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

M Murphy

B Murphy

SECRETARY:

M Murphy

REGISTERED OFFICE:

Agharan Road

New Mills

Dungannon

Co. Tyrone

BT71 4HF

REGISTERED NUMBER:

NI053219 (Northern Ireland)

INDEPENDENT AUDITORS:

CavanaghKelly

Chartered Accountants and Statutory Auditors

36-38 Northland Row

Dungannon

Co. Tyrone

BT71 6AP

NON-CURRENT ASSETS

Property, plant and equipment

5

97,503

121,156

CURRENT ASSETS

Inventories

420,621

358,422

Receivables

6

590,606

725,462

Cash at bank

496,655

480,911

1,507,882

1,564,795

PAYABLES

Amounts falling due within one year

7

(1,021,056

)

(1,229,319

)

NET CURRENT ASSETS

486,826

335,476

TOTAL ASSETS LESS CURRENT LIABILITIES

584,329

456,632

PROVISIONS FOR LIABILITIES

8

(11,799

)

(15,566

)

NET ASSETS

572,530

441,066

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

572,430

440,966

SHAREHOLDERS' FUNDS

572,530

441,066

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 5 August 2019 and were signed on its behalf by:

M Murphy - Director

B Murphy - Director

1.	STATUTORY INFORMATION

R.T Large (NI) Ltd is a private company, limited by shares , registered in Northern Ireland. The

company's registered number and registered office address can be found on the Company

Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue

The revenue shown in the Income Statement represents amounts received or receivable for goods

provided in the normal course of business, exclusive of Value Added Tax. Revenue is recognised on

the delivery of goods to the customer.

Property, plant and equipment and depreciation

Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation.

The charge to depreciation is calculated to write off the original cost or valuation of property, plant

and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery - 25% Reducing balance

Fixtures, fittings and equipment - 25% Straight line

Motor vehicles - 25% Reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in

periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories

Inventories are valued at the lower of cost and net realisable value. Inventories are determined on

a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in

bringing inventories to their present location and condition. Full provision is made for obsolete and

slow moving items. Net realisable value comprises actual or estimated selling price (net of trade

discounts) less all further costs to completion or to be incurred in marketing and selling.

Taxation

Taxation for the year comprises current 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 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 statement of financial position date.

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.

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.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of

exchange ruling at the Statement of Financial Position date. Non-monetary items that are

measured in terms of historical cost in a foreign currency are translated at the rates of exchange

ruling at the date of the transaction. Non-monetary items that are measured at fair value in a

foreign currency are translated using the exchange rates at the date when the fair value was

determined. The resulting exchange differences are dealt with in the Income Statement.

Hire purchase and leasing commitments

Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer

substantially all the risks and rewards of ownership to the company are capitalised and included in

the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding

commitments are recorded as liabilities. Payments in respect of these obligations are treated as

consisting of capital and interest elements, with interest charged to the Income Statement.

Cash flow statement

The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare

a Statement of Cash Flows because it is classified as a small company.

Employee benefits

The company operates a defined contribution pension scheme for employees. The assets of the

scheme are held seperately from those of the company in an independently administered fund.

Annual contributions payable to the company's pension scheme are charged to the Income

Statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2017 - 11 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2018

82,725

66,747

49,863

199,335

Additions

-

1,988

16,454

18,442

At 31 December 2018

82,725

68,735

66,317

217,777

DEPRECIATION

At 1 January 2018

14,355

45,288

18,536

78,179

Charge for year

17,093

8,184

16,818

42,095

At 31 December 2018

31,448

53,472

35,354

120,274

NET BOOK VALUE

At 31 December 2018

51,277

15,263

30,963

97,503

At 31 December 2017

68,370

21,459

31,327

121,156

6.	RECEIVABLES LESS THAN ONE YEAR

2018

2017

£

£

Trade receivables

547,230

681,971

Amounts owed by group undertakings

8,500

22,576

Amounts owed by related undertakings

7,622

2,735

Other receivables

-

1,895

Prepayments

27,254

16,285

590,606

725,462

7.	PAYABLES LESS THAN ONE YEAR

2018

2017

£

£

Trade payables

134,035

140,909

Amounts owed to group undertakings

671,884

928,170

Taxation and social security

116,378

91,216

Other payables

98,759

69,024

1,021,056

1,229,319

8.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

11,799

15,566

Deferred

tax

£

Balance at 1 January 2018

15,566

Credit to Income Statement during year

(3,767

)

Balance at 31 December 2018

11,799

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

1

100

100

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Desmond Kelly FCA (Senior Statutory Auditor)

for and on behalf of CavanaghKelly

11.	RELATED PARTY TRANSACTIONS

The company has availed of the exemption under FRS 102 in relation to the disclosure of

transactions with group companies.

12.	PARENT COMPANY

The controlling party is Northstone Limited.

The company regards Northstone Limited, a company registered in the Republic of Ireland, as its

parent company. The results of R.T Large (NI) Ltd are included in the consolidated financial

statements of Northstone Limited, which are available at the company's registered office at Conex

Works, Santry Avenue, Dublin 9, Ireland.