R K Wilson Builders Limited Filleted accounts for Companies House (small and micro)

R K WILSON BUILDERS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04908863

R K Wilson Builders Limited

Filleted Unaudited Financial Statements

For the year ended

30 September 2022

R K Wilson Builders Limited

Statement of Financial Position

30 September 2022

	2022		2021
Note	£	£	£

Fixed assets

Tangible assets	5	267,759	237,470
Investments	6	100	100
		---------	---------
		267,859	237,570

Current assets

Stocks		2,273,456	734,016
Debtors	7	105,779	588,179
Cash at bank and in hand		106,104	158,944
		------------	------------
		2,485,339	1,481,139

Creditors: amounts falling due within one year	8	1,014,424		1,263,410
		------------		------------
Net current assets			1,470,915	217,729
			------------	---------
Total assets less current liabilities			1,738,774	455,299

Creditors: amounts falling due after more than one year	9		1,228,502	64,069

Provisions

Taxation including deferred tax	26,389	26,233
	------------	---------
Net assets	483,883	364,997
	------------	---------

R K Wilson Builders Limited

Statement of Financial Position (continued)

30 September 2022

	2022		2021
Note	£	£	£

Capital and reserves

Called up share capital	503	503
Share premium account	88,289	88,289
Profit and loss account	395,091	276,205
	---------	---------
Shareholders funds	483,883	364,997
	---------	---------

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 comprehensive income has not been delivered.

For the year ending 30 September 2022 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 were approved by the board of directors and authorised for issue on 31 January 2023 , and are signed on behalf of the board by:

R I Spenceley

Director

Company registration number: 04908863

R K Wilson Builders Limited

Notes to the Financial Statements

Year ended 30 September 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Enterprsie House, 38 Tyndall Court, Commerce Road, Lynchwood, Peterborough, PE2 6LR, Cambs.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) are those that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:- Depreciation The annual depreciation charge for each class of tangible fixed asset is based on an estimate of the useful economic life of the respective assets. This is reviewed periodically by the directors to ensure that they reflect both the external and internal factors. Work in progress Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity 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 material 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 subsequently stated at cost less any accumulated depreciation and impairment losses.

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:

Freehold property	-	10% straight line
Plant and machinery	-	10% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Stock and work in progress

Stock and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock and work in progress to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2021: 7 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 October 2021	67,969	286,457	10,963	133,313	498,702
Additions	–	26,261	2,320	59,880	88,461
Disposals	–	( 12,995)	–	( 1,350)	( 14,345)
	--------	---------	--------	---------	---------
At 30 September 2022	67,969	299,723	13,283	191,843	572,818
	--------	---------	--------	---------	---------
Depreciation
At 1 October 2021	1,992	153,056	7,021	99,163	261,232
Charge for the year	6,797	27,346	694	16,513	51,350
Disposals	–	( 6,173)	–	( 1,350)	( 7,523)
	--------	---------	--------	---------	---------
At 30 September 2022	8,789	174,229	7,715	114,326	305,059
	--------	---------	--------	---------	---------
Carrying amount
At 30 September 2022	59,180	125,494	5,568	77,517	267,759
	--------	---------	--------	---------	---------
At 30 September 2021	65,977	133,401	3,942	34,150	237,470
	--------	---------	--------	---------	---------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 October 2021 and 30 September 2022	100
	----
Impairment
At 1 October 2021 and 30 September 2022	–
	----

Carrying amount
At 30 September 2022	100
	----
At 30 September 2021	100
	----

The company owns the entire share capital of R K Wilson Builders (Moulton) Limited, a company registered in England.

7. Debtors

	2022	2021
	£	£
Trade debtors	58,310	12,535
Amounts owed by group undertakings and undertakings in which the company has a participating interest	–	539,989
Other debtors	47,469	35,655
	---------	---------
	105,779	588,179
	---------	---------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	10,648	12,000
Trade creditors	351,738	370,325
Social security and other taxes	20,881	6,622
Other creditors	631,157	874,463
	------------	------------
	1,014,424	1,263,410
	------------	------------

Bank loans and overdrafts are secured on the assets within the company.

Included within other creditors are hire purchase agreements which are secured against assets to which they relate.

9. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	1,167,685	34,793
Other creditors	60,817	29,276
	------------	--------
	1,228,502	64,069
	------------	--------

Included within other creditors are hire purchase agreements which are secured against assets to which they relate.

10. Directors' advances, credits and guarantees

The company operated a loan account with a director during the year. The balance brought forward owed by director A was £NIL which has same in the current year.