R. Rice Supplies Limited - Period Ending 2016-06-30

Registration number: 02485061

R. Rice Supplies Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2015
 

DSE Accountants
Shrubbery House
47 Prospect Hill
Redditch
Worcestershire
B97 4BS

R. Rice Supplies Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
 R. Rice Supplies Limitedfor the Year Ended 30 June 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R. Rice Supplies Limited for the year ended 30 June 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of R. Rice Supplies Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R. Rice Supplies Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R. Rice Supplies Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R. Rice Supplies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R. Rice Supplies Limited. You consider that R. Rice Supplies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of R. Rice Supplies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSE Accountants
Shrubbery House
47 Prospect Hill
Redditch
Worcestershire
B97 4BS

24 February 2016

Page 1

R. Rice Supplies Limited
(Registration number: 02485061)
Abbreviated Balance Sheet at 30 June 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					62,976			61,182
Current assets
Stocks					1,500			1,500
Debtors					21,491			20,929
Cash at bank and in hand					1,358			1,602
					24,349			24,031
Creditors: Amounts falling due within one year					(26,737)			(27,930)
Net current liabilities					(2,388)			(3,899)
Net assets					60,588			57,283
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					60,488			57,183
Shareholders' funds					60,588			57,283

For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 24 February 2016 and signed on its behalf by:

.........................................
Mr RD Rice
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

R. Rice Supplies Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor Van	25% Reducing Balance
Fixtures & Fittings	25% 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.

Hire purchase and leasing

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

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

R. Rice Supplies Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 July 2014		123,907			123,907
Additions		2,535			2,535
At 30 June 2015		126,442			126,442
Depreciation
At 1 July 2014		62,725			62,725
Charge for the year		741			741
At 30 June 2015		63,466			63,466
Net book value
At 30 June 2015		62,976			62,976
At 30 June 2014		61,182			61,182

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4