R. R. Developments Limited - Period Ending 2016-10-31

Registration number: 04658649

R. R. Developments Limited

trading as R R Developments Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Kevin Alderton and Team
Chartered Accountants
14 South Way
Newhaven
East Sussex
BN9 9LL

R. R. Developments Limited
trading as R R Developments Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
R. R. Developments Limited
trading as R R Developments Limited
for the Year Ended 31 October 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. R. Developments Limited for the year ended 31 October 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of R. R. Developments 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. R. Developments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R. R. Developments Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R. R. Developments 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. R. Developments Limited. You consider that R. R. Developments 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. R. Developments 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.

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

Kevin Alderton and Team
Chartered Accountants
14 South Way
Newhaven
East Sussex
BN9 9LL

31 October 2016

Page 1

R. R. Developments Limited
trading as R R Developments Limited
(Registration number: 04658649)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					466,019			466,019
Current assets
Stocks					32,697			32,697
Debtors					274,822			271,745
Cash at bank and in hand					9			91,919
					307,528			396,361
Creditors: Amounts falling due within one year					(303,026)			(262,079)
Net current assets					4,502			134,282
Total assets less current liabilities					470,521			600,301
Creditors: Amounts falling due after more than one year					(291,014)			(505,784)
Net assets					179,507			94,517
Capital and reserves
Called up share capital		4			2			2
Profit and loss account					179,505			94,515
Shareholders' funds					179,507			94,517

For the year ending 31 October 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 director acknowledges his 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 director on 31 October 2016

.........................................
Mr Richard Compton Wilkins
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

R. R. Developments Limited
trading as R R Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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 at the following annual rates in order to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Land and buildings	Not depreciated
Improvements to property	Not depreciated

Work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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. R. Developments Limited
trading as R R Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 November 2014		466,019			466,019
At 31 October 2015		466,019			466,019
Depreciation
At 31 October 2015		-			-
Net book value
At 31 October 2015		466,019			466,019
At 31 October 2014		466,019			466,019

3

Creditors

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		254,145			254,514
After more than five years not by instalments		36,869			251,270
		291,014			505,784

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		2			2			2			2

Page 4

R. R. Developments Limited
trading as R R Developments Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

5	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Richard Compton Wilkins
Advances	-	-	249,629	204,827

Page 5