Ronsons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00326354 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2019

for

RONSONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P M Ronson

D M Ronson

J Ronson

SECRETARY:

Mrs P M Ronson

REGISTERED OFFICE:

Fairway House

Links Business Park

St. Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

00326354 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Tangible assets

4

634,636

739,737

CURRENT ASSETS

Debtors

5

795,978

625,483

Cash at bank

154,564

100,740

950,542

726,223

CREDITORS

Amounts falling due within one year

6

(111,348

)

(87,665

)

NET CURRENT ASSETS

839,194

638,558

TOTAL ASSETS LESS CURRENT LIABILITIES

1,473,830

1,378,295

PROVISIONS FOR LIABILITIES

(57,860

)

(57,860

)

NET ASSETS

1,415,970

1,320,435

CAPITAL AND RESERVES

Called up share capital

28,565

28,565

Revaluation reserve

7

479,298

479,298

Retained earnings

908,107

812,572

SHAREHOLDERS' FUNDS

1,415,970

1,320,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 and authorised for issue on 1 September 2020 and were signed on its behalf by:

D M Ronson - Director

1.	STATUTORY INFORMATION

Ronsons Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

5% on cost

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

The directors have incorporated the market value of the investment property in accordance with

SSAP 19. No depreciation is provided on the long leasehold property. The property is maintained to

ensure that its residual value does not diminish over time, with the maintenance costs being charged

to profit and loss account in the period incurred.

Investment properties are revalued annually by the directors or professional advisers in accordance

with SSAP 19 and the aggregate surplus or deficit is transferred to the investment revaluation

reserve. The directors have performed an impairment review in relation to the company's property

and consider that no depreciation is necessary as no impairment has occurred. The absence of

depreciation is not in accordance with FRS No.15 'Tangible Fixed Assets'.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

Motor

property

leasehold

machinery

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1 January 2019

139,737

600,000

-

-

739,737

Additions

-

-

436

38,290

38,726

Disposals

(139,737

)

-

-

-

(139,737

)

At 31 December 2019

-

600,000

436

38,290

638,726

DEPRECIATION

Charge for year

-

-

36

4,054

4,090

At 31 December 2019

-

-

36

4,054

4,090

NET BOOK VALUE

At 31 December 2019

-

600,000

400

34,236

634,636

At 31 December 2018

139,737

600,000

-

-

739,737

The company's leasehold property was revalued in December 1997 by the directors, on an open

market valuation basis. The directors are of the opinion that this open market valuation is still

applicable as at 31 December 2016. The inclusion of this valuation dose not amount to the adoption

of a policy of revaluation for the purposes of FRS No.15 "Tangible Fixed Assets". The company's

freehold property is held for investment purposes in accordance with SSAP 19.

Cost or valuation at 31 December 2019 is represented by:

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

Valuation in 1997

548,097

-

-

548,097

Cost

51,903

436

38,290

90,629

600,000

436

38,290

638,726

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

3,208

3,208

Other debtors

47,310

46,979

Amount due from related

undertaking

742,372

572,372

Prepayments

3,088

2,924

795,978

625,483

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

-

412

Tax

28,297

4,038

Social security and other taxes

25,358

25,642

Accrued expenses

57,693

57,573

111,348

87,665

7.

RESERVES

Revaluation

reserve

£

At 1 January 2019

and 31 December 2019

479,298

8.	RELATED PARTY DISCLOSURES

Mr D M Ronson and Mrs P M Ronson are directors of Ronsons Developments Limited.

As at 31 December 2019 the company was owed £603,122 (2018 - £433,122) from Ronsons

Developments Limited.

Daniel Ronson is a director of Starjump Food Products Limited.

As at 31 December 2019 the company was owed £139,250 (2018 - £139,250) from Starjump Food

Products Limited.