Regional Improvements Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06927646 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

REGIONAL IMPROVEMENTS LTD

TRADING AS

SOUTHERN GLASS

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

D M Coomber

SECRETARY:

P Shillinglaw

REGISTERED OFFICE:

31 - 33 Albion Place

Maidstone

Kent

ME14 5DZ

REGISTERED NUMBER:

06927646 (England and Wales)

ACCOUNTANTS:

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

FIXED ASSETS

Intangible assets

4

-

4,650

Tangible assets

5

26,344

33,404

26,344

38,054

CURRENT ASSETS

Stocks

85,619

175,392

Debtors

6

6,519

66,782

Cash at bank and in hand

15,050

62,708

107,188

304,882

CREDITORS

Amounts falling due within one year

7

109,188

170,668

NET CURRENT (LIABILITIES)/ASSETS

(2,000

)

134,214

TOTAL ASSETS LESS CURRENT LIABILITIES

24,344

172,268

PROVISIONS FOR LIABILITIES

2,706

3,607

NET ASSETS

21,638

168,661

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

21,637

168,660

SHAREHOLDERS' FUNDS

21,638

168,661

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 14 October 2019 and were signed by:

D M Coomber - Director

1.	STATUTORY INFORMATION

Regional Improvements 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.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 5 (2018 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2018

and 30 June 2019

46,500

AMORTISATION

At 1 July 2018

41,850

Charge for year

4,650

At 30 June 2019

46,500

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

4,650

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 July 2018

and 30 June 2019

23,156

4,394

55,322

11,300

94,172

DEPRECIATION

At 1 July 2018

8,743

3,906

38,429

9,690

60,768

Charge for year

2,316

121

4,223

400

7,060

At 30 June 2019

11,059

4,027

42,652

10,090

67,828

NET BOOK VALUE

At 30 June 2019

12,097

367

12,670

1,210

26,344

At 30 June 2018

14,413

488

16,893

1,610

33,404

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Motor

vehicles

£

COST

At 1 July 2018

and 30 June 2019

17,003

DEPRECIATION

At 1 July 2018

12,968

Charge for year

1,009

At 30 June 2019

13,977

NET BOOK VALUE

At 30 June 2019

3,026

At 30 June 2018

4,035

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade debtors

6,050

64,356

Other debtors

469

2,426

6,519

66,782

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.19

30.6.18

£

£

Trade creditors

84,333

123,178

Taxation and social security

8,691

32,576

Other creditors

16,164

14,914

109,188

170,668

8.	RELATED PARTY DISCLOSURES

During the year the company rented the property 1a Brunswick Street from the director D M Coomber for an

annual rental of £19,200 (2018 £19,200).

9.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the director 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 Director 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 Regional Improvements Ltd for the year ended 30 June 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Regional Improvements Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Regional Improvements Ltd and state those matters that we have agreed to state to the director of Regional Improvements Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Regional Improvements Ltd and its director for our work or for this report.

It is your duty to ensure that Regional Improvements Ltd 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 loss of Regional Improvements Ltd. You consider that Regional Improvements Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Regional Improvements Ltd. 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.

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

14 October 2019