R White Builders Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 03939070 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2023

for

R WHITE BUILDERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Director:

R J White

Secretary:

Mrs Y White

Registered office:

3rd Floor

Marlborough House

298 Regents Park Road

Finchley

London

N3 2SZ

Registered number:

03939070 (England and Wales)

Fixed assets

Tangible assets

4

9,699

12,994

Current assets

Stocks

20,000

38,452

Debtors

5

10,378

37,979

Cash at bank and in hand

130,621

111,925

160,999

188,356

Creditors

Amounts falling due within one year

6

57,810

79,459

Net current assets

103,189

108,897

Total assets less current liabilities

112,888

121,891

Creditors

Amounts falling due after more than one year

7

-

3,879

Net assets

112,888

118,012

Capital and reserves

Called up share capital

8

2

2

Retained earnings

112,886

118,010

Shareholders' funds

112,888

118,012

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 December 2023 and were signed by:

R J White - Director

1.	Statutory information

R White Builders 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.

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

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.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

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.

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at cost plus attributable profit taking into account eventual proceeds.

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 3 (2022 - 3 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

Cost

At 1 April 2022

and 31 March 2023

14,503

217

26,739

2,507

43,966

Depreciation

At 1 April 2022

12,819

216

15,430

2,507

30,972

Charge for year

421

1

2,873

-

3,295

At 31 March 2023

13,240

217

18,303

2,507

34,267

Net book value

At 31 March 2023

1,263

-

8,436

-

9,699

At 31 March 2022

1,684

1

11,309

-

12,994

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

Motor

vehicles

£

Cost

At 1 April 2022

and 31 March 2023

24,519

Depreciation

At 1 April 2022

13,026

Charge for year

2,873

At 31 March 2023

15,899

Net book value

At 31 March 2023

8,620

At 31 March 2022

11,493

5.

Debtors: amounts falling due within one year

2023

2022

£

£

Trade debtors

10,378

36,831

Other debtors

-

1,148

10,378

37,979

6.

Creditors: amounts falling due within one year

2023

2022

£

£

Hire purchase contracts

4,267

4,655

Trade creditors

14,049

21,806

Taxation and social security

31,450

46,110

Other creditors

8,044

6,888

57,810

79,459

7.

Creditors: amounts falling due after more than one year

2023

2022

£

£

Hire purchase contracts

-

3,879

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

2

Ordinary

1

2

2

9.	Director's advances, credits and guarantees

At the balance sheet date, other creditors include an amount of £394 (2022: £336) due to the director R J White.

During the year, the company received interest amounting to £1,089 (2022: £918) from R J White for his overdrawn loan account.

10.	Related party disclosures

During the year dividends amounting to £65,000 (2022: £58,000) were paid.

11.	Ultimate controlling party