R.J. Blundy Limited - Period Ending 2020-04-30

R.J. Blundy Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 7

R.J. Blundy Limited

(Registration number: 04992442)
Balance Sheet as at 30 April 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	5	231,001	308,002
Current assets
Debtors	6	84,352	122,851
Cash at bank and in hand		25,817	53,483
		110,169	176,334
Creditors: Amounts falling due within one year	7	(72,817)	(162,100)
Net current assets		37,352	14,234
Total assets less current liabilities		268,353	322,236
Creditors: Amounts falling due after more than one year	7	(86,125)	(124,708)
Provisions for liabilities		(33,679)	(35,826)
Net assets		148,549	161,702
Capital and reserves
Called up share capital		2	2
Profit and loss account		148,547	161,700
Shareholders' funds		148,549	161,702

R.J. Blundy Limited

(Registration number: 04992442)
Balance Sheet as at 30 April 2020

For the financial year ending 30 April 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 23 November 2020 and signed on its behalf by:
 

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

R J Blundy
Director

R.J. Blundy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

Going concern

The directors acknowledge the potential impact of the global coronavirus pandemic and believe that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook created by the pandemic. The directors believe the company has adequate resources to continue in operational existence such that they believe the continued use of the going concern basis to be appropriate.

Revenue recognition

Turnover represents amounts chargeable, net of value added tax, in respect to the provision of plant operating services to customers.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

R.J. Blundy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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 basis
Office Equipment	25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

R.J. Blundy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

3

Taxation

	2020		2019
	£		£
Corporation tax	-		-
Deferred tax	(2,147)		10,610
	(2,147)		10,610

4	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2019 - 7).

5	Tangible assets

	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 May 2019	523,474	2,435	525,909
At 30 April 2020	523,474	2,435	525,909
Depreciation
At 1 May 2019	215,786	2,121	217,907
Charge for the year	76,922	79	77,001
At 30 April 2020	292,708	2,200	294,908
Carrying amount
At 30 April 2020	230,766	235	231,001
At 30 April 2019	307,688	314	308,002

Included within the net book value of tangible fixed assets is £181,432 (2019 - £241,909) in respect of assets held under finance leases and similar hire purchase contracts. Depreciation for the year on these assets was £60,477 (2019 - £37,305).

R.J. Blundy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

6

Debtors

	2020 £	2019 £
Trade debtors	17,461	38,105
Amounts owed by related undertakings	63,056	55,110
Other debtors	3,835	29,636
Total current trade and other debtors	84,352	122,851

7

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Loans and borrowings	40,581	115,027
Trade creditors	1,486	1,283
Taxation and social security	11,296	1,779
Other creditors	19,454	44,011
	72,817	162,100

Creditors: amounts falling due after more than one year

	Note	2020 £	2019 £
Due after one year
Loans and borrowings	8	86,125	124,708

R.J. Blundy Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2020

8	Loans and borrowings

	2020 £	2019 £
Current loans and borrowings
Hire purchase liabilities	40,581	115,027

	2020 £	2019 £
Non-current loans and borrowings
Hire purchase liabilities	86,125	124,708

Hire purchase liabilities are secured on the assets to which they relate.

9	Related party transactions

Transactions with directors

R J Blundy (director) had a loan account with the company. At the balance sheet date the amount due to R J Blundy was £17,785 (2019 - £43,011).

Summary of transactions with other related parties

R.J. Blundy & Son Limited (R J Blundy is a director of both companies). During the year R.J. Blundy Limited made sales totalling £159,806 (2019 - £95,036) and purchases of £nil (2019 - £nil) to R.J. Blundy & Son Limited. At the balance sheet date the amount due from R.J. Blundy & Son Limited was £63,056 (2019 - £56,683).