Rybro Construction Ltd 28/02/2021 iXBRL

Rybro Construction Ltd 28/02/2021 iXBRL

RYBRO CONSTRUCTION LTD - Company Information

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Company registration number: 07065377
Rybro Construction Ltd
Unaudited filleted financial statements
28 February 2021
Rybro Construction Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Rybro Construction Ltd
Directors and other information
Directors Michael Brown
Dean Ryan
Company number 07065377
Registered office 364 Moston Lane
Moston
Manchester
M40 9JS
Accountants Thompsons Chartered Accountants
7 Princes Square
Harrogate
North Yorkshire
HG1 1ND
Rybro Construction Ltd
Statement of financial position
28 February 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 8,913 11,886
_______ _______
8,913 11,886
Current assets
Debtors 6 27,725 54,236
Cash at bank and in hand 62,547 41,087
_______ _______
90,272 95,323
Creditors: amounts falling due
within one year 7 ( 30,653) ( 60,563)
_______ _______
Net current assets 59,619 34,760
_______ _______
Total assets less current liabilities 68,532 46,646
Provisions for liabilities ( 1,694) ( 2,258)
_______ _______
Net assets 66,838 44,388
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 66,738 44,288
_______ _______
Shareholders funds 66,838 44,388
_______ _______
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 29 March 2021 , and are signed on behalf of the board by:
Michael Brown
Director
Company registration number: 07065377
Rybro Construction Ltd
Notes to the financial statements
Year ended 28 February 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 364 Moston Lane, Moston, Manchester, M40 9JS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 29 February 2020 and 28 February 2021 549 28,413 28,962
_______ _______ _______
Depreciation
At 29 February 2020 46 17,030 17,076
Charge for the year 126 2,847 2,973
_______ _______ _______
At 28 February 2021 172 19,877 20,049
_______ _______ _______
Carrying amount
At 28 February 2021 377 8,536 8,913
_______ _______ _______
At 28 February 2020 503 11,383 11,886
_______ _______ _______
6. Debtors
2021 2020
£ £
Trade debtors 17,162 48,216
Other debtors 10,563 6,020
_______ _______
27,725 54,236
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 7,501 7,870
Corporation tax 5,898 11,793
Social security and other taxes 10,972 18,805
Other creditors 6,282 22,095
_______ _______
30,653 60,563
_______ _______