R & W Le Serve Limited - Accounts to registrar (filleted) - small 18.2

R & W LE SERVE LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD 1ST JANUARY 2018 TO 31ST JANUARY 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

W R Le Serve

REGISTERED OFFICE:

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

REGISTERED NUMBER:

04607487 (England and Wales)

ACCOUNTANTS:

Halsey & Co (Accountants) Ltd.

Chartered Certified Accountants

Registered Auditors

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

FIXED ASSETS

Intangible assets

5

19,200

22,400

Tangible assets

6

364

470

19,564

22,870

CURRENT ASSETS

Stocks

9,282

-

Debtors

7

15,600

2,303

24,882

2,303

CREDITORS

Amounts falling due within one year

8

19,294

15,489

NET CURRENT ASSETS/(LIABILITIES)

5,588

(13,186

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,152

9,684

PROVISIONS FOR LIABILITIES

69

89

NET ASSETS

25,083

9,595

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

25,082

9,594

SHAREHOLDERS' FUNDS

25,083

9,595

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st January 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 30th September 2019 and were signed by:

W R Le Serve - Director

1.	STATUTORY INFORMATION

R & W Le Serve Limited 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.

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.

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 acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten 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

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

Taxation

Taxation for the period 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 period 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2017 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st January 2018

and 31st January 2019

32,000

AMORTISATION

At 1st January 2018

9,600

Amortisation for period

3,200

At 31st January 2019

12,800

NET BOOK VALUE

At 31st January 2019

19,200

At 31st December 2017

22,400

6.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1st January 2018

and 31st January 2019

2,182

-

7,604

9,786

DEPRECIATION

At 1st January 2018

1,953

-

7,363

9,316

Charge for period

-

46

60

106

At 31st January 2019

1,953

46

7,423

9,422

NET BOOK VALUE

At 31st January 2019

229

(46

)

181

364

At 31st December 2017

229

-

241

470

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.12.17

£

£

Trade debtors

15,600

2,303

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.19

31.12.17

£

£

Bank loans and overdrafts

679

3,704

Trade creditors

(1

)

389

Tax

6,562

1,805

CIS Payable

554

60

VAT

7,674

1,164

Directors' current accounts

2,538

6,777

Accrued expenses

1,288

1,590

19,294

15,489

9.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £421 (2017 - £6776) to W R Le Serve, the director and shareholder

of the company. The loan was interest free and repayable on demand.