Rugby Manufacturing Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02761241 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

RUGBY MANUFACTURING SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTOR:

S Marshall

SECRETARY:

G Marshall

REGISTERED OFFICE:

2A Charlesfield Road

Rugby

Warwickshire

CV22 5PQ

REGISTERED NUMBER:

02761241 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Tangible assets

4

12,305

13,167

CURRENT ASSETS

Stocks

2,250

3,750

Debtors

5

19,385

24,843

Cash at bank

7,648

4,398

29,283

32,991

CREDITORS

Amounts falling due within one year

6

32,781

37,637

NET CURRENT LIABILITIES

(3,498

)

(4,646

)

TOTAL ASSETS LESS CURRENT LIABILITIES

8,807

8,521

PROVISIONS FOR LIABILITIES

7

1,882

849

NET ASSETS

6,925

7,672

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

9

6,923

7,670

SHAREHOLDERS' FUNDS

6,925

7,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 6 March 2021 and were signed by:

S Marshall - Director

1.	STATUTORY INFORMATION

Rugby Manufacturing Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2019

32,835

979

8,700

42,514

Additions

3,000

-

-

3,000

At 31 March 2020

35,835

979

8,700

45,514

DEPRECIATION

At 1 April 2019

28,969

378

-

29,347

Charge for year

1,567

120

2,175

3,862

At 31 March 2020

30,536

498

2,175

33,209

NET BOOK VALUE

At 31 March 2020

5,299

481

6,525

12,305

At 31 March 2019

3,866

601

8,700

13,167

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

19,385

24,843

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

3,692

3,287

Tax

16,001

10,251

VAT

8,613

11,144

Directors' current accounts

3,725

205

Accrued expenses

750

12,750

32,781

37,637

7.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

1,882

849

Deferred

tax

£

Balance at 1 April 2019

849

Charge to Income Statement during year

1,033

Balance at 31 March 2020

1,882

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

2

9.

RESERVES

Retained

earnings

£

At 1 April 2019

7,670

Profit for the year

21,253

Dividends

(22,000

)

At 31 March 2020

6,923

10.	RELATED PARTY DISCLOSURES

As at 31 March 2020 an amount of £725 (2019- £205) was owed to director to the company.This amount is shown under creditors in the balance sheet.

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S Marshall.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Rugby Manufacturing Services Limited for the year ended 31 March 2020 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Rugby Manufacturing Services Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Rugby Manufacturing Services Limited and state those matters that we have agreed to state to the director of Rugby Manufacturing Services Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Rugby Manufacturing Services Limited and its director for our work or for this report.

It is your duty to ensure that Rugby Manufacturing Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Rugby Manufacturing Services Limited. You consider that Rugby Manufacturing Services 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 financial statements of Rugby Manufacturing Services 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 financial statements.

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

Date: .............................................