R & B Estates Limited - Period Ending 2014-12-31

Company registration number 05116446

R & B Estates Limited

Unaudited Abbreviated Accounts

for the Year Ended

 31 December 2014
 

Scott & Wilkinson LLP
Chartered Accountants
Dalton House
9 Dalton Square
LANCASTER
LA1 1WD

R & B Estates Limited

Contents

FOR THE YEAR ENDED 31 December 2014
 

Page(s)

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

R & B Estates Limited

Abbreviated Balance Sheet

as at 31 December 2014
 

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					17,323			12,103
Current assets
Debtors					6,139			17,763
Cash at bank and in hand					762			16,481
					6,901			34,244
Creditors: Amounts falling due within one year					(260,341)			(183,117)
Net current liabilities					(253,440)			(148,873)
Total assets less current liabilities					(236,117)			(136,770)
Creditors: Amounts falling due after more than one year					-			(106,974)
Provisions for liabilities					(2,502)			(1,247)
Net liabilities					(238,619)			(244,991)
Capital and reserves
Called up share capital		4			600			600
Profit and loss account					(239,219)			(245,591)
Shareholders' deficit					(238,619)			(244,991)

Company registration number: 05116446

For the year ending 31 December 2014 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on...... April 2015 and signed on its behalf by:

Mr N Anderton
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

R & B Estates Limited

Notes to the Abbreviated Accounts

 for the Year Ended 31 December 2014

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.

Asset class	Amortisation method and rate
Goodwill	5% Straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Leasehold property	20% Straight line
Fixtures and fittings	15% Reducing balance
Computer equipment	20% Straight line

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 2

R & B Estates Limited

Notes to the Abbreviated Accounts

 for the Year Ended 31 December 2014

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		401,870			61,630			463,500
Additions		-			8,794			8,794
At 31 December 2014		401,870			70,424			472,294
Depreciation
At 1 January 2014		401,870			49,527			451,397
Charge for the year		-			3,574			3,574
At 31 December 2014		401,870			53,101			454,971
Net book value
At 31 December 2014		-			17,323			17,323
At 31 December 2013		-			12,103			12,103

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		-			11,203
Amounts falling due after more than one year		-			106,974
Total secured creditors		-			118,177

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary of £1 each		500			500			500			500
'B' Ordinary of £1 each		100			100			100			100
		600			600			600			600

5

Control

The company is controlled by the spouses of the directors who own 75% of the share capital.

Page 3