Company Registration No. SC059634 (Scotland)
R & I NEISH LIMITED
Unaudited accounts
for the year ended 31 March 2019
R & I NEISH LIMITED
Unaudited accounts
Contents
R & I NEISH LIMITED
Company Information
for the year ended 31 March 2019
Directors
Mrs A M Anderson
Miss L Anderson
Company Number
SC059634 (Scotland)
Registered Office
44 CLERKHILL ROAD
PETERHEAD
ABERDEENSHIRE
AB42 2XE
Accountants
B4Bookkeeping Ltd
1 Lincoln House
Tangmere
Chichester
West Sussex
PO20 2FS
R & I NEISH LIMITED
Statement of financial position
as at 31 March 2019
Tangible assets
352,556
362,788
Inventories
85,822
100,563
Cash at bank and in hand
3,000
4,950
Creditors: amounts falling due within one year
(227,776)
(243,919)
Net current liabilities
(116,537)
(120,824)
Total assets less current liabilities
236,019
241,964
Creditors: amounts falling due after more than one year
(5,681)
(14,203)
Provisions for liabilities
Deferred tax
(8,220)
(9,133)
Net assets
222,118
218,628
Called up share capital
79,500
79,500
Revaluation reserve
127,249
127,249
Profit and loss account
15,369
11,879
Shareholders' funds
222,118
218,628
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 20 December 2019.
Miss L Anderson
Director
Company Registration No. SC059634
R & I NEISH LIMITED
Notes to the Accounts
for the year ended 31 March 2019
R & I NEISH LIMITED is a private company, limited by shares, registered in Scotland, registration number SC059634. The registered office is 44 CLERKHILL ROAD, PETERHEAD, ABERDEENSHIRE, AB42 2XE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
not provided
Plant & machinery
15% on reducing balance
Motor vehicles
20% on reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
R & I NEISH LIMITED
Notes to the Accounts
for the year ended 31 March 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2018
296,302
567,340
22,556
886,198
At 31 March 2019
296,302
567,340
22,556
886,198
At 1 April 2018
-
506,045
17,365
523,410
Charge for the year
-
9,194
1,038
10,232
At 31 March 2019
-
515,239
18,403
533,642
At 31 March 2019
296,302
52,101
4,153
352,556
At 31 March 2018
296,302
61,295
5,191
362,788
Finished goods
85,822
100,563
Trade debtors
19,059
14,092
7
Investments held as current assets
2019
2018
Unlisted investments
2,750
2,750
8
Creditors: amounts falling due within one year
2019
2018
Bank loans and overdrafts
83,649
85,002
Trade creditors
54,891
59,672
Taxes and social security
8,929
19,200
Other creditors
8,000
6,554
Loans from directors
53,770
68,670
9
Creditors: amounts falling due after more than one year
2019
2018
Other creditors
5,681
14,203
R & I NEISH LIMITED
Notes to the Accounts
for the year ended 31 March 2019
10
Transactions with related parties
The directors received dividends of £25,400 during the year.
The director Mrs A Anderson, has a loan advance to the company. The amount owed to him at the balance sheet date was £50,000, this loan is non interest bearing.
11
Average number of employees
During the year the average number of employees was 20 (2018: 24).
