R.P.M. Shopfront Manufacturers Limited 31/08/2019 iXBRL
R.P.M. Shopfront Manufacturers Limited 31/08/2019 iXBRL
Company Registration Number:
988702
Unaudited Filleted Financial Statements
Contents
Balance Sheet
Notes To The Financial Statements
Balance Sheet
31 August 2019
2019 | 2018 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Tangible assets | 5 |
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Current assets | |||||||||
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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_________ | _________ | ||||||||
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Creditors: amounts falling due | |||||||||
within one year | 7 |
(
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(
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_________ | _________ | ||||||||
Net current assets |
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_________ | _________ | ||||||||
Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 8 |
(
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(
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_________ | _________ | ||||||||
Net assets |
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_________ | _________ | ||||||||
Capital and reserves | |||||||||
Called up share capital | 10 |
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Profit and loss account |
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_________ | _________ | ||||||||
Shareholders funds |
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_________ | _________ | ||||||||
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
In accordance with section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
19 November 2019
, and are signed on behalf of the board by:
................................
Director
Company Registration Number:
988702
Notes To The Financial Statements
Year Ended 31 August 2019
1.
General information
The company is a private company limited by shares, registered in the United Kingdom. The address of the registered office is 14, Millers Avenue, Brynmenyn Industrial Estate, nr Bridgend, South Wales, CF32 9TD.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
Operating leases
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment | - |
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Motor vehicles | - |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Financial instruments
All of the company's financial instruments are basic as defined in FRS 102, and as such are measured at transaction value or amortised cost. Financial assets are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2018:
7
).
5.
Tangible assets
Freehold and leasehold properties | Fixtures, fittings and equipment | Motor vehicles | Total | ||
£ | £ | £ | £ | ||
Cost | |||||
At 1 September 2018 |
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Additions | - | 1,320 | - | 1,320 | |
Disposals | - |
(
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- |
(
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_________ | _________ | _________ | _________ | ||
At 31 August 2019 |
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_________ | _________ | _________ | _________ | ||
Depreciation | |||||
At 1 September 2018 |
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Charge for the year |
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Disposals | - |
(
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- |
(
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_________ | _________ | _________ | _________ | ||
At 31 August 2019 |
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_________ | _________ | _________ | _________ | ||
Carrying amount | |||||
At 31 August 2019 |
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_________ | _________ | _________ | _________ | ||
At 31 August 2018 |
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_________ | _________ | _________ | _________ | ||
Obligations under finance leases
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles | ||
£ | ||
At 31 August 2019 |
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_________ | ||
At 31 August 2018 |
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_________ | ||
6.
Debtors
2019 | 2018 | |||
£ | £ | |||
Trade debtors |
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Deferred tax asset (note 9) |
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Prepayments and accrued income |
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Other debtors |
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_________ | _________ | |||
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_________ | _________ | |||
7.
Creditors: amounts falling due within one year
2019 | 2018 | |||
£ | £ | |||
Bank loans and overdrafts |
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Trade creditors |
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Social security and other taxes |
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Obligations under finance leases |
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Other creditors |
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_________ | _________ | |||
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_________ | _________ | |||
Bank borrowings are secured by a mortgage on the company's leasehold property and a floating charge over the remainder of the company's assets.
8.
Creditors: amounts falling due after more than one year
2019 | 2018 | |||
£ | £ | |||
Obligations under finance leases |
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_________ | _________ | |||
9.
Deferred tax
The deferred tax included in the Balance sheet is as follows:
2019 | 2018 | |||
£ | £ | |||
Included in debtors (note 6) |
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_________ | _________ | |||
The deferred tax account consists of the tax effect of timing differences in respect of:
2019 | 2018 | |||
£ | £ | |||
Accelerated capital allowances |
(
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(
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Unused tax losses |
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_________ | _________ | |||
6,309 | 1,705 | |||
_________ | _________ | |||
10.
Called up share capital
Authorised share capital
2019 | 2018 | ||||||||
No | £ | No | £ | ||||||
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5,000 | 5,000 | 5,000 | 5,000 | |||||
_________ | _________ | _________ | _________ | ||||||
Issued, called up and fully paid
2019 | 2018 | ||||||||
No | £ | No | £ | ||||||
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3,131 | 3,131 | 3,131 | 3,131 | |||||
_________ | _________ | _________ | _________ | ||||||
11.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year |
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Later than 1 year and not later than 5 years |
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Later than 5 years |
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_________ | _________ | |
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_________ | _________ | |
12.
Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company: | |||||
2019 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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(
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(
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- |
(
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_________ | _________ | _________ | _________ | ||
2018 | |||||
Balance brought forward | Advances /(credits) to the director | Amounts repaid | Balance o/standing | ||
£ | £ | £ | £ | ||
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(
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(
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_________ | _________ | _________ | _________ | ||
Ground rent of £9,600 was paid by the company during the year to the director,
Mr E.J. Mitchell
, in respect of its leasehold trading premises.
13.
Controlling party
No single party has overall control of the company, but the director,
Mr E.J. Mitchell
, and his associates between them hold approximately 56% of the share capital currently in issue.