R And B Industrial Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05418516 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2021

FOR

R AND B INDUSTRIAL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mr C H Bates

SECRETARY:

Miss A L Cortvriend

REGISTERED OFFICE:

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

BUSINESS ADDRESS:

12 Towergate Industrial Park

Colebrook Way

Andover

Hampshire

SP10 3BB

REGISTERED NUMBER:

05418516 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

BANKERS:

Abbey National

Abbey National House

2 Triton Square

Regent's Place

London

NW1 3AN

FIXED ASSETS

Intangible assets

4

7,334

219

Tangible assets

5

140,804

98,555

148,138

98,774

CURRENT ASSETS

Stocks

26,740

29,612

Debtors

6

187,388

192,780

Cash at bank and in hand

11,163

56,066

225,291

278,458

CREDITORS

Amounts falling due within one year

7

261,382

250,564

NET CURRENT (LIABILITIES)/ASSETS

(36,091

)

27,894

TOTAL ASSETS LESS CURRENT LIABILITIES

112,047

126,668

CREDITORS

Amounts falling due after more than one year

8

(47,793

)

(8,799

)

PROVISIONS FOR LIABILITIES

(16,719

)

(16,976

)

NET ASSETS

47,535

100,893

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

46,535

99,893

SHAREHOLDERS' FUNDS

47,535

100,893

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2022 and were signed by:

Mr C H Bates - Director

1.	STATUTORY INFORMATION

R And B Industrial 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.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable for the provisions of non-domestic cooling and ventilation equipment.

Revenue is recognised when systems and parts are installed and tested and the works are signed off by the customer, at which time the significant risks and rewards of ownership of the work undertaken transferred to the customer.

Profit is recognised on long term projects when the final outcome can be assessed with reasonable certainty by including turnover and related costs within the profit and loss account dependent upon the stage of completion at the balance sheet date.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Trademarks are being amortised evenly over their estimated useful life of twenty years.

Website is being amortised evenly over its estimated useful life of ten years.

The asset's residual value, useful life and amortisation method is reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Government grants

Governments grants are recognised in the profit and loss on a receipts basis.

Stocks

The company holds a stock of parts and consumables associated with the manufacture of ventilation systems. As these parts are not subject to technical or physical obsolescence they are valued at costs.

Stock is issued to production on a first in first out basis.

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.

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.

Debtors

Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Cash and cash equivalents

These comprise cash at bank and other short-term highly liquid bank deposits.

Creditors

Creditors are not interest bearing and are stated at their nominal value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2020 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2020

250

Additions

7,920

At 30 April 2021

8,170

AMORTISATION

At 1 May 2020

31

Charge for year

805

At 30 April 2021

836

NET BOOK VALUE

At 30 April 2021

7,334

At 30 April 2020

219

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 May 2020

86,858

184,446

271,304

Additions

60,754

18,355

79,109

Disposals

-

(9,018

)

(9,018

)

At 30 April 2021

147,612

193,783

341,395

DEPRECIATION

At 1 May 2020

63,260

109,489

172,749

Charge for year

12,148

24,056

36,204

Eliminated on disposal

-

(8,362

)

(8,362

)

At 30 April 2021

75,408

125,183

200,591

NET BOOK VALUE

At 30 April 2021

72,204

68,600

140,804

At 30 April 2020

23,598

74,957

98,555

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 May 2020

and 30 April 2021

19,495

DEPRECIATION

At 1 May 2020

3,555

Charge for year

4,874

At 30 April 2021

8,429

NET BOOK VALUE

At 30 April 2021

11,066

At 30 April 2020

15,940

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

106,340

139,316

Other debtors

81,048

53,464

187,388

192,780

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

29,814

-

Hire purchase contracts (see note 9)

4,061

4,061

Trade creditors

127,674

173,708

Taxation and social security

61,517

37,226

Other creditors

38,316

35,569

261,382

250,564

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans

43,055

-

Hire purchase contracts (see note 9)

4,738

8,799

47,793

8,799

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

9,722

-

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

30.4.21

30.4.20

£

£

Net obligations repayable:

Within one year

4,061

4,061

Between one and five years

4,738

8,799

8,799

12,860

Non-cancellable operating

leases

30.4.21

30.4.20

£

£

Within one year

2,997

3,996

Between one and five years

-

2,997

2,997

6,993

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 R And B Industrial Limited for the year ended 30 April 2021 which comprise the Statement of Income and Retained Earnings, 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 R And B Industrial Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of R And B Industrial Limited and state those matters that we have agreed to state to the director of R And B Industrial 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 R And B Industrial Limited and its director for our work or for this report.

It is your duty to ensure that R And B Industrial 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 R And B Industrial Limited. You consider that R And B Industrial 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 R And B Industrial 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.

Rothmans LLP

Chartered Accountants

10 St Ann Street

Salisbury

Wiltshire

SP1 2DN

23 February 2022