R.S. Electrical (R.S.E.) Limited - Period Ending 2015-04-30

Registration number: 02379926

R.S. Electrical (R.S.E.) Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2015
 

McIntosh Accountants Limited
Chartered Accountants
29 Regent Road
Hanley
Stoke-on-Trent
Staffordshire
ST1 3BT

R.S. Electrical (R.S.E.) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
R.S. Electrical (R.S.E.) Limited
for the Year Ended 30 April 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R.S. Electrical (R.S.E.) Limited for the year ended 30 April 2015 set out on pages 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of R.S. Electrical (R.S.E.) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R.S. Electrical (R.S.E.) Limited and state those matters that we have agreed to state to them, 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 R.S. Electrical (R.S.E.) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R.S. Electrical (R.S.E.) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R.S. Electrical (R.S.E.) Limited. You consider that R.S. Electrical (R.S.E.) 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 R.S. Electrical (R.S.E.) 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.

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

McIntosh Accountants Limited
Chartered Accountants
29 Regent Road
Hanley
Stoke-on-Trent
Staffordshire
ST1 3BT

17 August 2015

Page 1

R.S. Electrical (R.S.E.) Limited
(Registration number: 02379926)
Abbreviated Balance Sheet at 30 April 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					9,595			6,138
Current assets
Stocks					96,642			99,742
Debtors					66,228			64,553
Cash at bank and in hand					189,653			236,454
					352,523			400,749
Creditors: Amounts falling due within one year					(44,155)			(108,753)
Net current assets					308,368			291,996
Total assets less current liabilities					317,963			298,134
Provisions for liabilities					(1,745)			(724)
Net assets					316,218			297,410
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					316,118			297,310
Shareholders' funds					316,218			297,410

For the year ending 30 April 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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 .

Approved by the director on 17 August 2015

.........................................
Mr Robert Simms
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

R.S. Electrical (R.S.E.) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance.
Plant & machinery	10% reducing balance.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

R.S. Electrical (R.S.E.) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2014		52,110			52,110
Additions		7,999			7,999
Disposals		(11,922)			(11,922)
At 30 April 2015		48,187			48,187
Depreciation
At 1 May 2014		45,972			45,972
Charge for the year		3,348			3,348
Eliminated on disposals		(10,728)			(10,728)
At 30 April 2015		38,592			38,592
Net book value
At 30 April 2015		9,595			9,595
At 30 April 2014		6,138			6,138

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 4