RAS Completions Limited

R A S COMPLETIONS LIMITED - Company Information

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Registered number: 03162613

Abbreviated accounts

For The Year Ended 28 February 2016

Manea Consulting

Squirrel Lodge

Swan Lane

Edenbridge

Kent

TN8 6AL

RAS Completions Limited

Company No. 03162613

Abbreviated Balance Sheet 28 February 2016

Abbreviated Balance Sheet

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		65,121		63,489

			65,121		63,489
CURRENT ASSETS
Stocks		132,345		37,563
Debtors		944,630		969,952
Cash at bank and in hand		3,712		196,655

		1,080,687		1,204,170
Creditors: Amounts Falling Due Within One Year	4	(292,121 )		(401,739 )

NET CURRENT ASSETS (LIABILITIES)			788,566		802,431

TOTAL ASSETS LESS CURRENT LIABILITIES			853,687		865,920

NET ASSETS			853,687		865,920

CAPITAL AND RESERVES
Called up share capital	5		63,000		63,000
Share premium account			24,000		24,000
Capital redemption reserve			(12,001 )		-
Profit and Loss Account			778,688		778,920

SHAREHOLDERS' FUNDS			853,687		865,920

RAS Completions Limited

Company No. 03162613

Abbreviated Balance Sheet (continued) 28 February 2016

For the year ending 28 February 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Russell Pitt

14/09/2016

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RAS Completions Limited

Notes to the Abbreviated Accounts

For The Year Ended 28 February 2016

Notes to the Abbreviated Accounts

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	4% on cost
Plant & Machinery	33% on reducing balance
Motor Vehicles	18% on reducing balance
Fixtures & Fittings	25% on reducing balance
Computer Equipment	25% on reducing balance

1.4. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.5. Government grant

Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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RAS Completions Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 28 February 2016

2. Tangible Assets


	Total
Cost	£
As at 1 March 2015	159,571
Additions	9,495

As at 28 February 2016	169,066

Depreciation
As at 1 March 2015	96,082
Provided during the period	7,863

As at 28 February 2016	103,945

Net Book Value
As at 28 February 2016	65,121

As at 1 March 2015	63,489

3. Investments

	Other
	£
Cost
As at 1 March 2015	-

As at 28 February 2016	-

Provision
As at 1 March 2015	-

As at 28 February 2016	-

Net Book Value
As at 28 February 2016	-

As at 1 March 2015	-

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RAS Completions Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 28 February 2016

4. Creditors: Amounts Falling Due Within One Year

	2016	2015
	£	£
Trade creditors	200,729	83,342
Bank loans and overdrafts	108,689	-
Corporation tax	87,799	92,629
Other taxes and social security	16,419	31,946
VAT	30,072	89,573
Net wages	11,769	11,013
RAS Interiors	7,380	-
Factoring Account	(141,236)	-
Accruals and deferred income	(42,710 )	93,236

	292,121	401,739

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary A shares	1.000	17000	17,000	17,000

Ordinary B shares	1.000	46000	46,000	46,000




		63000	63,000	63,000

6. Transactions With and Loans to Directors

Dividends paid to directors

7. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

Page 4