Richard Eade and Sons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05299774 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2018 TO 31 MARCH 2019

FOR

RICHARD EADE AND SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

D W Eade

Mrs H J Eade

S P Eade

P Eade

SECRETARY:

Mrs H J Eade

REGISTERED OFFICE:

Mayfield

101 Forest Road

Whitehill

Bordon

Hampshire

GU35 9BA

REGISTERED NUMBER:

05299774 (England and Wales)

ACCOUNTANTS:

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

FIXED ASSETS

Tangible assets

4

2,842

7,667

Investments

5

109,684

107,891

112,526

115,558

CURRENT ASSETS

Stocks

168,253

157,922

Debtors

6

527,376

54,198

Cash at bank and in hand

190,602

597,540

886,231

809,660

CREDITORS

Amounts falling due within one year

7

96,590

183,743

NET CURRENT ASSETS

789,641

625,917

TOTAL ASSETS LESS CURRENT LIABILITIES

902,167

741,475

PROVISIONS FOR LIABILITIES

8

-

1,533

NET ASSETS

902,167

739,942

CAPITAL AND RESERVES

Called up share capital

9

500

500

Capital redemption reserve

10

500

500

Retained earnings

10

901,167

738,942

SHAREHOLDERS' FUNDS

902,167

739,942

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

The members have not required the company to obtain an audit of its financial statements for the period 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 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 Board of Directors on 6 September 2019 and were signed on its behalf by:

D W Eade - Director

1.	STATUTORY INFORMATION

Richard Eade and Sons 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.	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.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

10% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 period was 6 (2018 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2018

and 31 March 2019

77,351

41,536

5,975

124,862

DEPRECIATION

At 1 February 2018

74,185

37,537

5,473

117,195

Charge for period

698

3,999

128

4,825

At 31 March 2019

74,883

41,536

5,601

122,020

NET BOOK VALUE

At 31 March 2019

2,468

-

374

2,842

At 31 January 2018

3,166

3,999

502

7,667

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2018

107,891

Additions

1,793

At 31 March 2019

109,684

NET BOOK VALUE

At 31 March 2019

109,684

At 31 January 2018

107,891

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

38,431

52,636

Directors' loan account

488,945

-

Prepayments and accrued income

-

1,562

527,376

54,198

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

28,932

-

Tax

38,825

40,287

Social security and other taxes

1,454

933

VAT

13,575

27,388

Other creditors

445

415

Directors' loan account

11,059

112,420

Accruals and deferred income

2,300

2,300

96,590

183,743

8.	PROVISIONS FOR LIABILITIES

2019

2018

£

£

Deferred tax

-

1,533

Deferred

tax

£

Balance at 1 February 2018

1,533

Deferred tax

(1,533

)

Balance at 31 March 2019

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

500

Ordinary

£1

500

500

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 February 2018

738,942

500

739,442

Profit for the period

162,225

162,225

At 31 March 2019

901,167

500

901,667

11.	RELATED PARTY DISCLOSURES

During the period, payments totalling £28,000 (2018: £24,000) were paid to two of the directors, P Eade and

Mrs H J Eade, in respect of the rent of the trading property.

A temporary loan was made to one of the directors totalling £500,000 in January 2019, which was repaid in full

in April 2019. As the balance of this loan was repaid within 9 months of the year end this is not liable to S455

tax. Interest has been charged on the loan at the official rate.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Richard Eade and Sons Limited for the period ended 31 March 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Richard Eade and Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Richard Eade and Sons Limited and state those matters that we have agreed to state to the Board of Directors of Richard Eade and Sons Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Richard Eade and Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Richard Eade and Sons Limited. You consider that Richard Eade and Sons Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Richard Eade and Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Wettone Matthews Limited

Chartered Certified Accountants

Market House

21 Lenten Street

Alton

GU34 1HG

6 September 2019