R C Services (South West) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08045605 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2021

for

R C Services (South West) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

C R White

REGISTERED OFFICE:

157 Redland Road

Redland

Bristol

BS6 6YE

REGISTERED NUMBER:

08045605 (England and Wales)

ACCOUNTANTS:

Wormald & Partners

Chartered Accountants (ICAEW)

Redland House

157 Redland Road

Redland

Bristol

BS6 6YE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

229,271

230,310

Investment property

6

256,552

-

485,823

230,310

CURRENT ASSETS

Stocks

7

2,500

2,500

Debtors

8

340,829

277,482

Cash at bank

297,830

110,265

641,159

390,247

CREDITORS

Amounts falling due within one year

9

359,180

284,033

NET CURRENT ASSETS

281,979

106,214

TOTAL ASSETS LESS CURRENT LIABILITIES

767,802

336,524

CREDITORS

Amounts falling due after more than one year

10

(227,814

)

-

PROVISIONS FOR LIABILITIES

11

(10,934

)

(11,856

)

NET ASSETS

529,054

324,668

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

528,954

324,568

SHAREHOLDERS' FUNDS

529,054

324,668

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2021 and were signed by:

C R White - Director

1.	STATUTORY INFORMATION

R C Services (South West) 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of three years.

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.

Tangible fixed assets

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

Plant and machinery

-

15% on reducing balance basis

Motor vehicles

-

25% on reducing balance basis

Computer equipment

-

33.33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 5 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

107,000

AMORTISATION

At 1 May 2020

and 30 April 2021

107,000

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

-

5.	TANGIBLE FIXED ASSETS

Freehold

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 May 2020

162,946

54,013

126,866

4,268

348,093

Additions

4,704

7,718

-

1,833

14,255

At 30 April 2021

167,650

61,731

126,866

6,101

362,348

DEPRECIATION

At 1 May 2020

-

20,164

94,181

3,438

117,783

Charge for year

-

6,235

8,172

887

15,294

At 30 April 2021

-

26,399

102,353

4,325

133,077

NET BOOK VALUE

At 30 April 2021

167,650

35,332

24,513

1,776

229,271

At 30 April 2020

162,946

33,849

32,685

830

230,310

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

Motor

vehicles

£

COST

At 1 May 2020

31,272

Transfer to ownership

(31,272

)

At 30 April 2021

-

DEPRECIATION

At 1 May 2020

18,079

Charge for year

1,649

Transfer to ownership

(19,728

)

At 30 April 2021

-

NET BOOK VALUE

At 30 April 2021

-

At 30 April 2020

13,193

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

256,552

At 30 April 2021

256,552

NET BOOK VALUE

At 30 April 2021

256,552

7.

STOCKS

2021

2020

£

£

Work-in-progress

2,500

2,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

85,781

45,322

RC Properties (SW) Ltd

244,232

104,806

Other Debtors

300

38,143

Social security and other tax

7,907

2,126

Directors' current accounts

-

86,546

Prepayments

2,609

539

340,829

277,482

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

45,186

-

Hire purchase contracts

-

5,212

Trade creditors

103,380

185,832

Tax

54,039

19,236

VAT

53,633

61,158

Other creditors

1,878

1,132

Credit card

94

-

Directors' current accounts

87,110

-

Deposits held

3,000

-

Accrued expenses

10,860

11,463

359,180

284,033

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans - 2-5 years

227,814

-

11.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

10,934

11,856

Deferred

tax

£

Balance at 1 May 2020

11,856

Credit to Income Statement during year

(922

)

Balance at 30 April 2021

10,934

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £2,000 were paid to the director .

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is C R White.