RCP Installations Limited - Accounts to registrar (filleted) - small 18.2
RCP Installations Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
RCP INSTALLATIONS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 6 |
RCP INSTALLATIONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
255 Green Lanes |
Palmers Green |
London |
N13 4XE |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
BALANCE SHEET |
30 APRIL 2020 |
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
BALANCE SHEET - continued |
30 APRIL 2020 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2020 |
1. | STATUTORY INFORMATION |
RCP Installations Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales and services, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2019 |
Disposals | ( |
) | ( |
) |
At 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 May 2019 |
and 30 April 2020 |
DEPRECIATION |
At 1 May 2019 |
Charge for year |
At 30 April 2020 |
NET BOOK VALUE |
At 30 April 2020 |
At 30 April 2019 |
5. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
RCP INSTALLATIONS LIMITED (REGISTERED NUMBER: 05796703) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2020 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Finance leases |
Trade creditors |
Tax |
Social security and other taxes |
Value added tax | 5,993 | 2,591 |
Other creditors |
Directors' loan accounts | 5,353 | 485 |
Sundry creditors and accruals |
8. | PROVISIONS FOR LIABILITIES |
2020 | 2019 |
£ | £ |
Deferred tax | 2,573 | 3,441 |
Deferred |
tax |
£ |
Balance at 1 May 2019 |
Provided during year | ( |
) |
Balance at 30 April 2020 |
9. | RELATED PARTY DISCLOSURES |
Other debtors include a loan of £8,505 to the daughter of the director as well as loan of £5,600 to an employee of the company which are interest free and repayable on demand. |
10. | POST BALANCE SHEET EVENTS |
Since the year end the economy has been severely disrupted with the impact of the Coronavirus. The company has continued to trade through the current crisis and whilst it has had an impact on the company's activities the company continues to trade. Whilst the pandemic will have an impact on the company's results it is hard to quantify at this stage the full impact of the economic crisis but the company continues to trade as a going concern. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is R C Prior. |