Randall & Payne Management Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07668439 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2019

FOR

RANDALL & PAYNE MANAGEMENT SERVICES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T J Watkins

W J Abbott

R I Byrd

R I Case

Mrs V L Link

O A Newbold

SECRETARY:

T J Watkins

REGISTERED OFFICE:

Chargrove House

Cheltenham

Gloucestershire

GL51 4GA

REGISTERED NUMBER:

07668439 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

18,215

27,735

CURRENT ASSETS

Debtors

5

372,424

475,990

Cash at bank and in hand

202,162

12,543

574,586

488,533

CREDITORS

Amounts falling due within one year

6

231,206

198,245

NET CURRENT ASSETS

343,380

290,288

TOTAL ASSETS LESS CURRENT LIABILITIES

361,595

318,023

CAPITAL AND RESERVES

Called up share capital

238

238

Retained earnings

361,357

317,785

SHAREHOLDERS' FUNDS

361,595

318,023

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 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 13 February 2020 and were signed on its behalf by:

T J Watkins - Director

1.	STATUTORY INFORMATION

Randall & Payne Management Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Accounting convention

These financial statements have been prepared in accordance with the provision of section 1A "Small

entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK

and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared

under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax. Services provided are

recognised in the accounts in the year in which they are provided.

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 reducing balance

Computer equipment

-

33% on cost

Financial instruments

Financial Instruments are classified by the directors as basic or advanced following the conditions in

FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective

interest method.

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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event

prior to the balance sheet date and that a payment will be required in settlement that can be estimated

reliably. Where material, provisions are calculated on a discounted basis.

Going concern

The directors have considered the risks and issues concerning the company and it's activities and no

material uncertainties that may cast significant doubt about the company's ability to continue as a going

concern have been identified by the directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2018 - 51 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2018

22,965

85,969

108,934

Additions

861

1,593

2,454

Disposals

(2,000

)

-

(2,000

)

At 30 June 2019

21,826

87,562

109,388

DEPRECIATION

At 1 July 2018

7,588

73,611

81,199

Charge for year

1,527

9,490

11,017

Eliminated on disposal

(1,043

)

-

(1,043

)

At 30 June 2019

8,072

83,101

91,173

NET BOOK VALUE

At 30 June 2019

13,754

4,461

18,215

At 30 June 2018

15,377

12,358

27,735

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

300,171

408,275

VAT

21,034

21,609

Prepayments and accrued income

51,219

46,106

372,424

475,990

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

42,924

28,913

Corporation Tax

35,898

39,319

Social security and other taxes

25,095

26,915

Other creditors

68,055

44,755

Accrued expenses

59,234

58,343

231,206

198,245

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Within one year

18,111

17,706

Between one and five years

11,883

12,132

29,994

29,838

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

No outstanding loans to the directors existed at 30 June 2019 (2018 £Nil).

9.	RELATED PARTY DISCLOSURES

Management charges of £2,126,536 (2018 £2,270,521) were made to Randall & Payne LLP. The

balance owing at the year end was £300,170 (2018 £408,275). All of the directors of Randall & Payne

Management Services Ltd are members of Randall & Payne LLP.

Outstanding loans existed at the 30 June 2019 to parties related to the directors and these are

included in Other Creditors and total £68,055 (2018 £44,755).