R W H & Sons Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 04680980 (England and Wales)

R W H & Sons Ltd

Unaudited Financial Statements for the Year Ended 31 May 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

RW Horsley

RE Horsley

REGISTERED OFFICE:

3 Southernhay West

Exeter

Devon

EX1 1JG

BUSINESS ADDRESS:

14 Abbey Rise

Okehampton

Devon

EX20 1PJ

REGISTERED NUMBER:

04680980 (England and Wales)

ACCOUNTANTS:

Haines Watts Accountants (Exeter) Limited

3 Southernhay West

Exeter

Devon

EX1 1JG

FIXED ASSETS

Intangible assets

5

6,500

13,000

Tangible assets

6

7,877

10,865

14,377

23,865

CURRENT ASSETS

Stocks

7

2,000

6,250

Debtors

8

53,767

92,331

Cash at bank and in hand

15,429

30,651

71,196

129,232

CREDITORS

Amounts falling due within one year

9

(33,275

)

(45,155

)

NET CURRENT ASSETS

37,921

84,077

TOTAL ASSETS LESS CURRENT LIABILITIES

52,298

107,942

CREDITORS

Amounts falling due after more than one year

10

-

(938

)

PROVISIONS FOR LIABILITIES

(2,229

)

(12,068

)

NET ASSETS

50,069

94,936

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

50,067

94,934

SHAREHOLDERS' FUNDS

50,069

94,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 February 2023 and were signed on its behalf by:

RW Horsley - Director

1.	STATUTORY INFORMATION

R W H & Sons Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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 each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is shorter.

Plant and machinery - 15% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 33% straight line

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.

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

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pensions

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2021

and 31 May 2022

130,000

AMORTISATION

At 1 June 2021

117,000

Amortisation for year

6,500

At 31 May 2022

123,500

NET BOOK VALUE

At 31 May 2022

6,500

At 31 May 2021

13,000

6.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2021

1,281

11,995

9,194

22,470

Additions

513

-

-

513

At 31 May 2022

1,794

11,995

9,194

22,983

DEPRECIATION

At 1 June 2021

1,106

4,123

6,376

11,605

Charge for year

77

1,968

1,456

3,501

At 31 May 2022

1,183

6,091

7,832

15,106

NET BOOK VALUE

At 31 May 2022

611

5,904

1,362

7,877

At 31 May 2021

175

7,872

2,818

10,865

7.

STOCKS

2022

2021

£

£

Stocks

2,000

6,250

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

and accrued income

30,376

32,553

Directors' current accounts

21,908

59,000

Prepayments

1,483

778

53,767

92,331

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

938

1,749

Trade creditors

10,548

19,017

Corporation tax

4,349

11,580

Social security and other taxes

1,960

2,004

CIS tax

3,544

-

VAT

11,686

7,805

Directors' current accounts

-

2,750

Accruals

250

250

33,275

45,155

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Hire purchase contracts

-

938

11.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Hire purchase contracts

938

2,687

There is a fixed and floating debenture in place between the company and National Westminster Bank PLC for all liabilities owed to National Westminster Bank PLC

12.	RELATED PARTY DISCLOSURES

During the year a director had a director current account with the company. At the balance sheet date

the amount due from the Director is £18,770 (2021 £19,125). This was repaid in full within 9 months of the year end.

During the year a director had a director current account with the company. At the balance sheet date

the amount due from the Director is £3,138 (2021 £37,125). This was repaid in full within 9 months of the year end.

An interest charged on the loans will be calculated using the HMRC standard rates.