Regional Improvements Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06927646 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2015

FOR

REGIONAL IMPROVEMENTS LTD

TRADING AS

SOUTHERN GLASS

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

D M Coomber

SECRETARY:

P Shillinglaw

REGISTERED OFFICE:

31 - 33 Albion Place

Maidstone

Kent

ME14 5DZ

REGISTERED NUMBER:

06927646 (England and Wales)

ACCOUNTANTS:

Stephen Hill Mid Kent Limited

31-33 Albion Place

Sittingbourne Road

Maidstone

Kent

ME14 5DZ

FIXED ASSETS

Intangible assets

2

18,600

23,250

Tangible assets

3

49,448

23,956

68,048

47,206

CURRENT ASSETS

Stocks

102,476

64,076

Debtors

21,624

116,050

Cash at bank and in hand

89,196

124

213,296

180,250

CREDITORS

Amounts falling due within one year

4

167,789

166,819

NET CURRENT ASSETS

45,507

13,431

TOTAL ASSETS LESS CURRENT LIABILITIES

113,555

60,637

CREDITORS

Amounts falling due after more than one year

4

(8,244

)

(12,478

)

PROVISIONS FOR LIABILITIES

(6,658

)

(4,851

)

NET ASSETS

98,653

43,308

CAPITAL AND RESERVES

Called up share capital

5

1

1

Profit and loss account

98,652

43,307

SHAREHOLDERS' FUNDS

98,653

43,308

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 5 October 2015 and were signed by:

D M Coomber - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of nil years.

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 the shorter.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

and 30 June 2015

46,500

AMORTISATION

At 1 July 2014

23,250

Amortisation for year

4,650

At 30 June 2015

27,900

NET BOOK VALUE

At 30 June 2015

18,600

At 30 June 2014

23,250

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2014

50,931

Additions

38,741

Disposals

(1,500

)

At 30 June 2015

88,172

DEPRECIATION

At 1 July 2014

26,975

Charge for year

12,893

Eliminated on disposal

(1,144

)

At 30 June 2015

38,724

NET BOOK VALUE

At 30 June 2015

49,448

At 30 June 2014

23,956

4.

CREDITORS

Creditors include an amount of £ 12,478 (30.6.14 - £ 22,141 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.15

30.6.14

value:

£

£

1

Ordinary

£1

1

1

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2015 and

30 June 2014:

30.6.15

30.6.14

£

£

D M Coomber

Balance outstanding at start of year

39,972

-

Amounts advanced

-

40,213

Amounts repaid

(39,972

)

(241

)

Balance outstanding at end of year

-

39,972