Rhino Fitted Bedrooms & Home Offices Li - Limited company - abbreviated - 11.9
Rhino Fitted Bedrooms & Home Offices Li - Limited company - abbreviated - 11.9
REGISTERED NUMBER: |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
FOR |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2015 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
ABBREVIATED BALANCE SHEET |
30 JUNE 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 2 |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
CREDITORS |
Amounts falling due after more than one year | 5 | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
ABBREVIATED BALANCE SHEET - continued |
30 JUNE 2015 |
The financial statements were approved by the director on |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 JUNE 2015 |
1. | ACCOUNTING POLICIES |
Basis of preparation of accounts |
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). |
Although the company had net liabilities at 30 June 2015, management accounts for the current accounting period |
show that the improvement in profitability achieved in the 2015 accounts has continued. Therefore the director |
continues to adopt the going concern basis of accounting in preparing these financial statements. |
Turnover |
Turnover represents all amounts received and receivable in respect of goods and services supplied by the company |
during the year excluding value added tax and trade discounts. |
Goodwill |
Following a review by the director, in 2014, it was calculated that the estimated useful life of the company's goodwill |
differed to that previously provided for. Therefore, with the commencement of the period ended 30 June 2014, the |
amortisation policy was amended from an expected useful life of ten years to an expected useful life of twenty years. |
This new policy was applied to the value of goodwill brought forward on the 01 July 2013, with the effect that the |
balance of goodwill, at that date, will be amortised over the remaining useful life of fourteen years. |
Tangible fixed assets |
Capital expenditure on premises | - |
Plant and equipment | - |
Fixtures, fittings and office equipment | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
Deferred taxation |
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of |
certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing |
differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are |
recognised only to the extent that the directors consider that it is more likely than not that they will be recovered |
against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a |
non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, |
based on tax rates and laws that have been enacted by the balance sheet date. |
Leasing commitments |
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are |
depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase 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. |
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 the profit and loss account in the period to which they relate. |
Operating leases |
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the |
lessor are charged to the profit and loss account as incurred. |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2015 |
1. | ACCOUNTING POLICIES - continued |
Other loans |
During the year to 30 June 2014 the company entered into a sale and lease back transaction with a third party. The |
director has decided that in accordance with FRS 5 the substance of the transaction is that of a secured loan. The |
company has continued to recognise the assets concerned and has recorded the proceeds received from the buyer as a |
liability, with the related interest being accrued. |
Dividends |
The company has a deficit of shareholder funds of £67,225 (2014: £84,311) by virtue of paying an unlawful |
dividend, the consequences of which could require that part of the dividend be repaid. |
2. | INTANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2014 |
and 30 June 2015 |
AMORTISATION |
At 1 July 2014 |
Amortisation for year |
At 30 June 2015 |
NET BOOK VALUE |
At 30 June 2015 |
At 30 June 2014 |
3. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 July 2014 |
Additions |
At 30 June 2015 |
DEPRECIATION |
At 1 July 2014 |
Charge for year |
At 30 June 2015 |
NET BOOK VALUE |
At 30 June 2015 |
At 30 June 2014 |
RHINO FITTED BEDROOMS & |
HOME OFFICES LIMITED (REGISTERED NUMBER: 06226826) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 JUNE 2015 |
4. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 July 2014 |
and 30 June 2015 | 3,000 |
NET BOOK VALUE |
At 30 June 2015 |
At 30 June 2014 |
5. | CREDITORS |
Creditors include an amount of £ |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
7. | 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: |
2015 | 2014 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Balance outstanding at end of year |
The loan outstanding at 30 June 2015 is included within other debtors, has been provided interest free and is |
repayable on demand. |