R & F Consulting Ltd - Filleted accounts

R & F Consulting Ltd - Filleted accounts

R&F CONSULTING LIMITED - Company Information

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R & F Consulting Ltd
Registered number: 06104292
Balance Sheet
as at 29 February 2020
Notes 2020 2019
£ £
Fixed assets
Tangible assets 3 958 782
Current assets
Debtors 4 19,351 15,221
Cash at bank and in hand 54,404 71,331
73,755 86,552
Creditors: amounts falling due within one year 5 (13,210) (17,112)
Net current assets 60,545 69,440
Net assets 61,503 70,222
Capital and reserves
Called up share capital 100 100
Profit and loss account 61,403 70,122
Shareholders' funds 61,503 70,222
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Zonayed Ahmmed
Director
Approved by the board on 5 October 2020
R & F Consulting Ltd
Notes to the Accounts
for the year ended 29 February 2020
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Computer equipments 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipments
£
Cost
At 1 March 2019 2,511
Additions 416
At 29 February 2020 2,927
Depreciation
At 1 March 2019 1,729
Charge for the year 240
At 29 February 2020 1,969
Net book value
At 29 February 2020 958
At 28 February 2019 782
4 Debtors 2020 2019
£ £
Trade debtors 19,130 -
Other debtors 221 15,221
19,351 15,221
5 Creditors: amounts falling due within one year 2020 2019
£ £
Corporation tax 8,024 11,666
Other taxes and social security costs 4,288 5,446
Other creditors 898 -
13,210 17,112
6 Other information
R & F Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Southdown Crescent
Ilford
Essex
IG2 7PT
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