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| Rawlings Electrical Limited |
For the year ended 31 March 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07587973
2
Rawlings Electrical Limited
For the year ended 31 March 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Rawlings Electrical Limited
Chartered Accountants' Report
For the year ended 31 March 2015
Chartered Accountants' Report to the Board of Directors
| In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts |
| of Rawlings Electrical Limited for the year ended 31 March 2015 which comprise the Profit and Loss Account, |
| Statement of Recognised Gains and Losses, the Balance Sheet and the related notes from the company's accounting |
| records and from information and explanations you have given us. |
| As a practising 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 at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Rawlings Electrical Limited, as a body, in accordance with the |
| terms of our engagement letter dated 15 December 2011. Our work has been undertaken solely to prepare for your |
| approval the accounts of Rawlings Electrical Limited and state those matters that we have agreed to state to the Board of |
| Directors of Rawlings Electrical Limited, as a body, in this report in accordance with AAF 2/10 as detailed at |
| icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other |
| than Rawlings Electrical Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Rawlings Electrical Limited has kept adequate accounting records to prepare statutory |
| accounts that give a true and fair view of the assets, liabilities, financial position and profit of Rawlings Electrical |
| Limited. You consider that Rawlings Electrical 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 accounts of Rawlings Electrical 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 accounts. |
Marray & McIntyre
Chartered Accountants
Hawthorn House
1Medlicott Close
Corby
Northants
NN18 9NF
05 June 2015
1 of 4
4
| Abbreviated Balance Sheet |
Rawlings Electrical Limited
2015
2014
2
3,500
4,000
3
1,219
1,523
4,719
5,523
3,963
959
4
2,821
9,385
5,866
1,666
16,210
8,450
| Creditors: amounts falling due within one year |
(7,577)
(11,617)
873
4,593
Net current assets
| Total assets less current liabilities |
9,312
6,396
(244)
(305)
| Provisions for liabilities |
9,068
Net assets
6,091
10
5
10
9,058
6,081
9,068
6,091
Shareholders funds
| For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts |
| These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. |
| Date approved by the board: 05 June 2015 |
| Mr Michael John Rawlings Director |
| Signed on behalf of the board of directors |
| Mr Michael John Rawlings Director |
2 of 4
5
| Notes to the Abbreviated Financial Statements |
Rawlings Electrical Limited
For the year ended 31 March 2015
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.Deferred tax assets are only recognised if it is more likely than not that they will be recovered either against future taxable profits or against the reversal of other deferred tax liabilities. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the |
| shareholders prior to the balance sheet date. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated |
| expected useful economic life of the goodwill of 10 years. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Tools & equipment
Office equipment
| Stocks and work in progress |
| Stocks and work in progress are valued at the lower of cost and net realisable value. |
3 of 4
6
| Notes to the Abbreviated Financial Statements |
Rawlings Electrical Limited
For the year ended 31 March 2015
| 2 Intangible fixed assets |
5,000
5,000
1,000
500
Charge for year
1,500
3,500
4,000
2,930
2,930
1,407
304
Charge for year
1,711
1,219
1,523
All debtors are receivable within one year
| 100 Class A shares of £0.10 each |
| Allotted called up and fully paid |
2015
2014
| 100 Class A shares of £0.10 each |
10
10
10
10
4 of 4
