R B Construction (South West) Limited - Period Ending 2020-01-31

R B Construction (South West) Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 7

R B Construction (South West) Limited

Company Information

Directors

Mrs R Bailey Mr A Bailey Mrs M L Richardson Mr S Richardson

Registered office

6 Houndiscombe Road Plymouth Devon PL4 6HH

Accountants

Houndiscombe Consultants Limited T/A Condy Mathias Chartered Accountants 6 Houndiscombe Road Plymouth Devon PL4 6HH

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
R B Construction (South West) Limited
for the Year Ended 31 January 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R B Construction (South West) Limited for the year ended 31 January 2020 as set out on pages 3 to 7 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of R B Construction (South West) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R B Construction (South West) Limited and state those matters that we have agreed to state to the Board of Directors of R B Construction (South West) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R B Construction (South West) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R B Construction (South West) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R B Construction (South West) Limited. You consider that R B Construction (South West) Limited 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 accounts of R B Construction (South West) Limited. 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 accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

22 August 2020

R B Construction (South West) Limited

(Registration number: 09372307)
Balance Sheet as at 31 January 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	3	566	754
Current assets
Stocks	4	306,988	178,452
Debtors	5	27,781	14,069
Cash at bank and in hand		50	4,202
		334,819	196,723
Creditors: Amounts falling due within one year	6	(69,898)	(79,564)
Net current assets		264,921	117,159
Net assets		265,487	117,913
Capital and reserves
Called up share capital		400	400
Profit and loss account		265,087	117,513
Total equity		265,487	117,913

R B Construction (South West) Limited

(Registration number: 09372307)
Balance Sheet as at 31 January 2020

For the financial year ending 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 22 August 2020 and signed on its behalf by:
 

.........................................

Mr A Bailey
Director

.........................................

Mr S Richardson
Director

R B Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
9 Eastfield Crescent
Higher Compton
Plymouth
Devon
PL3 5JX

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% reducing balance
Computer equipment	25% reducing balance

R B Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3	Tangible assets

	Office equipment  £	Plant and Machinery £	Total £
Cost or valuation
At 1 February 2019	302	1,119	1,421
At 31 January 2020	302	1,119	1,421
Depreciation
At 1 February 2019	206	461	667
Charge for the year	24	164	188
At 31 January 2020	230	625	855
Carrying amount
At 31 January 2020	72	494	566
At 31 January 2019	96	658	754

4

Stocks

	2020 £	2019 £
Work in progress	306,988	178,452

5

Debtors

	2020 £	2019 £
Trade debtors	284	4,866
Other debtors	27,497	9,203
	27,781	14,069

R B Construction (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2020

6

Creditors

Creditors: amounts falling due within one year

	Note	2020 £	2019 £
Due within one year
Loans and borrowings		509	-
Trade creditors		380	5,624
Taxation and social security		44,959	10,572
Accruals and deferred income		1,434	1,365
Other creditors		22,616	62,003
		69,898	79,564