Ronsons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00326354 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

RONSONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P M Ronson

D M Ronson

J Ronson

SECRETARY:

Mrs P M Ronson

REGISTERED OFFICE:

Fairway House

Links Business Park

St. Mellons

Cardiff

CF3 0LT

REGISTERED NUMBER:

00326354 (England and Wales)

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Tangible assets

4

625,997

634,636

CURRENT ASSETS

Debtors

5

903,256

795,978

Cash at bank

162,814

154,564

1,066,070

950,542

CREDITORS

Amounts falling due within one year

6

(141,950

)

(111,348

)

NET CURRENT ASSETS

924,120

839,194

TOTAL ASSETS LESS CURRENT LIABILITIES

1,550,117

1,473,830

CREDITORS

Amounts falling due after more than one year

7

(50,000

)

-

PROVISIONS FOR LIABILITIES

(57,860

)

(57,860

)

NET ASSETS

1,442,257

1,415,970

CAPITAL AND RESERVES

Called up share capital

28,565

28,565

Revaluation reserve

8

479,298

479,298

Retained earnings

934,394

908,107

SHAREHOLDERS' FUNDS

1,442,257

1,415,970

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 17 August 2021 and were signed on its behalf by:

D M Ronson - Director

1.	STATUTORY INFORMATION

Ronsons 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

5% on cost

Plant and machinery etc

-

25% on reducing balance and 20% on reducing balance

The directors have incorporated the market value of the investment property in accordance with SSAP 19. No depreciation is provided on the long leasehold property. The property is maintained to ensure that its residual value does not diminish over time, with the maintenance costs being charged to profit and loss account in the period incurred.

Investment properties are revalued annually by the directors or professional advisers in accordance with SSAP 19 and the aggregate surplus or deficit is transferred to the investment revaluation reserve. The directors have performed an impairment review in relation to the company's property and consider that no depreciation is necessary as no impairment has occurred. The absence of depreciation is not in accordance with FRS No.15 'Tangible Fixed Assets'.

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.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

COST OR VALUATION

At 1 January 2020

and 31 December 2020

600,000

436

38,290

638,726

DEPRECIATION

At 1 January 2020

-

36

4,054

4,090

Charge for year

-

80

8,559

8,639

At 31 December 2020

-

116

12,613

12,729

NET BOOK VALUE

At 31 December 2020

600,000

320

25,677

625,997

At 31 December 2019

600,000

400

34,236

634,636

The company's leasehold property was revalued in December 1997 by the directors, on an open market valuation basis. The directors are of the opinion that this open market valuation is still applicable as at 31 December 2020. The inclusion of this valuation dose not amount to the adoption of a policy of revaluation for the purposes of FRS No.15 "Tangible Fixed Assets". The company's freehold property is held for investment purposes in accordance with SSAP 19.

Cost or valuation at 31 December 2020 is represented by:

Short

Plant and

Motor

leasehold

machinery

vehicles

Totals

£

£

£

£

Valuation in 1997

548,097

-

-

548,097

Cost

51,903

436

38,290

90,629

600,000

436

38,290

638,726

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

3,208

3,208

Other debtors

47,310

47,310

Amount due from related

undertaking

849,122

742,372

Prepayments

3,616

3,088

903,256

795,978

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

59

-

Tax

36,080

28,297

Social security and other taxes

47,409

25,358

Accrued expenses

58,402

57,693

141,950

111,348

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other loans - 2-5 years

50,000

-

8.

RESERVES

Revaluation

reserve

£

At 1 January 2020

and 31 December 2020

479,298

9.	RELATED PARTY DISCLOSURES

Mr D M Ronson and Mrs P M Ronson are directors of Ronsons Developments Limited.

As at 31 December 2020 the company was owed £849,122 (2019 - £603,122) from Ronsons Developments Limited.